Afrik Audit & Consulting SA – Cost and management Accounting for R&D
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NAME OF PRESENTER AFRIK AUDIT & CONSULTING SA 1 Afrik Audit & Consulting SA – Cost and management Accounting for R&D This document contains 10 slides of Cost & Management Accounting solutions for laboratories and R&D institutions.
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Afrik Audit & Consulting SA – Cost and management Accounting for R&D. This document contains 10 slides of Cost & Management Accounting solutions for laboratories and R&D institutions. Animated Object. WHAT OUR COMPANY DOES. Mgt Accounts preparation. Internal Auditing. Bookkeeping - PowerPoint PPT Presentation
Transcript of Afrik Audit & Consulting SA – Cost and management Accounting for R&D
1 I NAME OF PRESENTERAFRIK AUDIT & CONSULTING SA1
Afrik Audit & Consulting SA – Cost and management Accounting for R&D
This document contains 10 slides of Cost & Management Accounting solutions for laboratories and R&D institutions.
2 I NAME OF PRESENTER2 AFRIK AUDIT & CONSULTING SA
WHAT OUR COMPANY DOES
Afrik Audit & Consulting SA provides solutions to clients in the commercial, Industrial and Pharma industries.We assist business stay ahead of the competition through innovative and cost savings solutions .
Animated O
bject
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Why you will love our costing & pricing solution:
Totally editable & adaptable
Full Economic Costing
Prepared using MS Excel
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Challenges: Sustainability, Cost recovery, Overheads and Tracing
INTRODUCTION
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Approach used: Full Economic Costing, Activity & Process based
Outcome: Full understanding of costs drivers, Cost recovery
Sample templates: Costing, Recovery price, Recovery volume
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CHALLENGES FACED BY PHARMA AND R&Ds
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Challenges Time Results
Unknown Full Economic Costs of the organization The solution begins with the calculation or determination of the Full Economic Costs of the institution.
Pricing for services less than the full cost of the service The solution informs the laboratory managers of the activity costs and determines a process based prices
Prices are fixed and not volume related / CompetitionThe sliding scale approach is used for processes and varies based on the process or protocols used.
Difficulty in determining a break-even quantity and price Easy determination of Break-even quantity and price
Difficulty in determining viability of projects, services and Business
Easy determination of the viability of projects, services and the Business as a whole
Non-compliant pricing and costing structures for grant purposes.
Compliance with TIA, DST and NIH rates and procedures for grant application.
Expensive LIMS system. Tracking of wastages in processes is difficult
Simple to use, track wastages and is affordable. No external software required.
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• Cost reduction and recovery
• Increased productivity due to time saved
• Sustainable venture/services/projects
PYRAMID OF MODULE
• Full Economic costing
• Activity & cost drivers
• Protocols and processes
COMPANY
Output
Base
Process based pricing
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Implementation of Full Economic Costing model
5%22%
3%
30%
41%
Local institutions
International
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90
15
91
20
80
10
85
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80
Before After
1. Time saved: Time saved in performing admin and pricing activities by scientists
2. Wastages: losses identified within the processes and activities not billed are included.
4. Affordable: The model is affordable and good value for money.
VALUE OF THE MODEL
3. Increased: Productivity: Increased productivity and turnaround time for lab activities (assays and analysis).
5. Local Support: We are available locally to support local labs.
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PICTURE SLIDE
This is done by identifying costs drivers and allocating them by
category
FEC used
Determination of IDC
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PICTURE SLIDE
This is done by identifying paid absences:
Annual leave days, Sick leave days.
FEC used
Fringe Benefits
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PICTURE SLIDE
This template provides sliding scale pricing, discounts, margins, activity based costing and reconciles details
to summary sheet above.
FEC used
Sample Budget template
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African Biotech
Focus on African and South African Biotech.
LABORATORIES
International appeal for our model.
Cycle
Training of more Accountants.
GOING GLOBAL
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Questions
AFRIK AUDIT & CONSULTING SA
www.afrikaudit.co.za
15 Ranleigh park, Harfield Rd, Kenilworth, Cape Town
021-838-2696
Afrik Audit SA
@afrikaudit_sa
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Thank you for taking the time to go through our presentation.
Please read more about us on www.afrikaudit.co.za
