Explain the importance of costs in the pricing strategy of an organization. Design a costing system:

  • Explain the importance of costs in the pricing strategy of an organization
  • Design a costing system for use within an organization
  • Propose improvements to the costing and pricing systems used by an organization
  • Be able to apply forecasting techniques to obtain information for decision making
  • apply forecasting techniques to make cost and revenue decisions in an organization
  • assess the sources of funds available to an organization for a specific project
  • Be able to participate in the budgetary process of an organization
  • select appropriate budgetary targets for an organization
  • participate in the creation of a master budget for an organization
  • compare actual expenditure and income to the master budget of an organization
  • evaluate budgetary monitoring processes in an organization
  • Be able to recommend cost reduction and management processes for an organization
  • recommend processes that could manage cost reduction in an organization
  • evaluate the potential for the use of activity-based costing
  • Be able to use financial appraisal techniques to make strategic investment decisions for an organization
  • apply financial appraisal methods to analyze competing investment projects in the public and private sector
  • make a justified strategic investment decision for an organization using relevant financial information
  • report on the appropriateness of a strategic investment decision using information from a post-audit appraisal
  • Be able to interpret financial statements for planning and decision making
  • analyze financial statements to assess the financial viability of an organization
  • apply financial ratios to improve the quality of financial information in an organization’s financial statements
  • make recommendations on the strategic portfolio of an organization based on its financial information