True Cost Accounting for Resilient Businesses: Unveiling Hidden Costs for Decision-Making
About the Course
This workshop is tailored for businesses seeking a deeper understanding of True Cost Accounting (TCA) and its significance in evaluating the actual costs of their operations on society, the environment, and future generations. Participants will explore methodologies, case studies, and practical applications of TCA to make more informed and sustainable business decisions.
Module 1: Introduction to True Cost Accounting (60 minutes)
Defining True Cost Accounting: Understanding its principles and methodologies.
The importance of TCA in revealing hidden externalities and impacts beyond financial costs.
Case studies illustrating the application and benefits of TCA in various industries.
Module 2: Assessing Environmental Costs (45 minutes)
Identifying environmental externalities: Pollution, resource depletion, and ecosystem degradation.
Tools and methodologies to quantify environmental costs using TCA.
Evaluating the environmental impact of business operations.
Module 3: Social Costs and Human Capital (45 minutes)
Understanding social externalities: Labour practices, community impacts, and social inequalities.
Quantifying social costs using TCA: Human capital valuation and social impact assessment.
Recognising and addressing social implications in business decisions.
Module 4: Integrating TCA into Business Strategy (45 minutes)
Embedding TCA into decision-making processes: Tools, frameworks, and implementation strategies.
Overcoming challenges in implementing TCA within organisations.
Developing a roadmap for integrating TCA into business sustainability strategies.
Module 5: Interactive Workshop and Application (45 minutes)
Group exercise: Applying TCA to a business scenario or case study.
Facilitated discussion and sharing insights among participants.
Q&A session addressing specific challenges and practical applications of TCA.
By the end of this workshop, participants will:
Grasp the concept of True Cost Accounting and its role in assessing comprehensive business costs.
Understand how to quantify and evaluate environmental and social externalities using TCA methodologies.
Recognize the significance of integrating TCA into business strategies for informed decision-making.
Acquire practical tools and frameworks to implement TCA within their organizations.
Collaborate with peers to apply TCA principles to real-world business scenarios.
Identify strategies to overcome challenges in implementing TCA and promote its adoption within their businesses.
This workshop aims to empower participants with the knowledge and skills necessary to incorporate True Cost Accounting into their business practices, fostering more sustainable and socially responsible decision-making processes.
To find out more, get in touch or book a Discovery Call.