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Solving the Standard Costing Problem Online Workshop

August 10 @ 11:00 am 5:00 pm

Solving the Standard Cost Problem

A BMA online, interactive course

August 10, 2022

Three 90-minute sessions:

11:00 – 12:30

1:30 – 3:00

3:30 – 5:00

Instructor: Nick Katko (nkatko@maskell.com M: 859-608-0683)

Pricing and Registration

Self-paced learning option

Don’t worry if you can’t attend the sessions live. All sessions will be recorded. You can complete the course exercises at your own pace while listening to the recordings and schedule one-on-one sessions with BMA to review the exercises. 

Standard costing systems were designed for mass production manufacturing. In a lean company, using the information from standard costing systems to leads to non-lean behavior and poor decisions. In this interactive course you will complete Excel-based exercises to demonstrate why standard costing information:

  • Sends the message that “lean isn’t working.”
  • Motivates non-lean operational decisions
  • Does not measure the impact of improvements
  • Leads to poor decision making in pricing and profitability analyses

Course Schedule

August 3:  Session #1

  • Defining the standard costing problem
  • Why using standard costing leads to poor operating decisions
  • How lean performance measurements replace standard costing

August 3: Session #2

  • Why standard costing leads to poor financial decisions
  • Why standard costing should not be used to analyze profitability
  • How box scores replace standard costing

August 3: Session #3

  • Eliminating unnecessary ERP transactions
  • Eliminating waste in setting standards
  • Using lean inventory valuation methods to replace standard costing

Meeting Platform: Zoom

Registrants will receive Zoom invitations prior to all classes

Continuing Education Credits for CPAs: 4.5 hours of CPE credit through this workshop

Field of Study: Specialized Knowledge

Advanced Preparation: None

Program Level: Basic

Delivery Method: Group Internet

CPE Credits Earned: 4.5 (You must attend each live class)

$400 Single ticket; $320 for groups of 3 or more