Cost Control and Management in Businesses

What must one give up to be profitable? Utilizing strategies for cost analysis and expense reduction, save the company's future.

Business Administration
Turkish
TRY 103.21TRY 344.02

1 hour 15 minute total time
Lifetime access
Watch on all platforms

Acquirements

  • Cost analysis and results
  • Cost control
  • Productivity increase
  • Determining the method for profitability

Description

Cost control is the process of identifying and lowering operational expenditures, which plays a crucial role in boosting and sustaining a company's profitability. Cost reduction is the term for the actions done to boost profitability by decreasing expenditures. Businesses utilize cost reduction as part of their company strategy during recessions and when future profitability issues are anticipated. Several tactics, including outsourcing, employee reduction, facility closure, and supply chain reconfiguration, can be utilized to save costs. Measures that would make organizations unprepared for future demand should be avoided when implementing cost-cutting methods.

This course has been designed to explain what has to be done to boost productivity and save expenses in the corporate sector, where achieving and sustaining profitability is getting more challenging day by day. The idea of cost, together with its components and techniques of computation, will be provided to avoid making any well-known blunders. The strategies used by businesses to boost production, reduce costs, and gauge profitability will be discussed through examples. After the course, there will be studies on the actions to be performed with the analysis of the financial statements and the assessment of the required resources.

Tutors

Mesut Baydur
Mesut Baydur
Certified Public Accountant

Course Content

8 chapters8 videos1 hour 15 minute total time
Introduction
  • Introduction03:38
The Importance of Measurement
  • The Importance of Measurement and Interpretation09:35
Causes of Profitability Decline
  • Causes of Profitability Decline10:16
Cost Behavior
  • Cost Behavior10:27
Cost Components of a Product
  • Cost Components of a Product11:01
Outsourcing
  • Outsourcing05:13
Just-In-Time Production
  • Just-In-Time Production12:17
Efficiency from Financial Statements
  • Efficiency from Financial Statements and Cost Reduction13:03

Related Courses

TRY 103.21TRY 344.02

1 hour 15 minute total time
Lifetime access
Watch on all platforms