This course aims to give participants an understanding of the fundamentals of costing and pricing their products / services. It will explain how to calculate the break-even sales volume for a business and outline the factors to consider when setting prices. Participants will also learn how to calculate the profitability of individual products or services and how to improve it. 

The course will cover the following topics

• What overheads are, why they are important and how to factor them into product/service costs
• How to calculate profit margins by product/services for the entire business
• How to calculate breakeven position and translate it into the number of units required to achieve it
• What factors to consider when setting prices
• How to calculate prices for new products or services
• How to improve margins
• The importance of reviewing prices regularly and how to do this
• How to test the market price level