The Fundamentals of Costing and Pricing

Source
Grant Management Solutions

The purpose of this course is assist partner organizations to prepare thorough budgets and cost estimates for their work, while also calculating a margin that allows them to be mission driven and market focused.  During the course participants will learn the basic vocabulary of financial accounting, examine the various types and sources of costs and margin, and create models to monitor their revenue, costs, and income over time, so that prices can be adjusted in keeping with financial goals. The financial modeling tool, which accompanies this course curriculum, can be used to facilitate the development of sound budgets that cover costs and generate income.

By the end of this course, participants will be able to:

  1. Understand and use basic financial accounting vocabulary related to costing, budgeting, and margin
  2. Navigate and use the Financial Modeling Tool for Costing and Pricing
  3. Describe the types of costs and incorporate them into the budget
  4. Describe the sources of margin and include them in the budget
  5. Develop a revenue forecast based on cost and price of delivering products and services
  6. Use financial metrics to monitor and report on financial performance