Course description
This is a very hands on, practical course in which we deal with real scenarios and help demystify some of the complexities around costing and pricing, so you get the best possible results.
Show your employer you get this, or make it count for your business and you’ll never look back!
We help you see how to be really focused on working smarter to generate more profit.
Upcoming start dates
Suitability - Who should attend?
Is this for you?
If you work in bookkeeping or accounts or are a small business owner and need to know how to charge out time for staff, how to calculate profit on a job, or project profit in the next year’s turnover, this course is for you.
Similarly, small business owners may find this particularly useful. For example if you’re a garage owner who needs to cost out parts and labour; a wholesaler struggling to make profit due to squeezes on margins; or a manufacturer trying to find the optimum price for their products, this course can help.
Pre-Requisites
There are no specific pre-requisites required to start this course.
Outcome / Qualification etc.
A very hands on, practical course, we deal with real scenarios and help demystify some of the complexities around costing and pricing, so you get the best possible results.
We help you see how to be really focused on working smarter to generate more profit.
Training Course Content
Lesson One: What to consider when pricing a product, factors which affect the profitability of a business. Common price-setting strategies, factors which influence the customer’s decision to buy. Ways to check that the price is right, how increasing or decreasing selling price affects profit, ways to market and sell products, defining direct costs and indirect costs, recovering costs.
Lesson Two: Examples of a service business, identifying overheads of a typical service business, calculating a suitable hourly rate, defining fixed costs, variable costs and semi-variable costs, understanding the break-even point on a graph, formula to calculate the break-even point, limitations of break-even analysis.
Lesson Three: What ‘contribution’ is and how it is calculated, how fixed costs, variable costs, selling price and profit interact, using Excel to carry out appropriate calculations, how contribution theory can help to make business decisions, setting out and interpreting a marginal cost statement, understanding what is meant by ‘absorption costing’.
Continuing Studies
A great course to take if you're keen to progress your career to Events Manager, Events Assistant, Marketing Manager, Marketing Assistant or Project Manager.
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