This study examines the process of establishing the standard cost, the cost variance and various profitability analysis through actual case of global company. This study explores how the cost accounting information reported to the management in a timely manner is useful for strategic decision making. In order to meet the changes of management environment, various cost accounting methods of new concepts were introduced, and there was criticism about the traditional standard cost system. However, it is recognized that many global companies have been adopting the standard cost system which is easy to manage and control the cost. This is an example showing that the standard cost system is still being used effectively in the industrial field. The main points of this study are as follows. First, this is a review on the process of establishing the standard cost of global company A. Company A sets the standard cost in the budgeting process for the next fiscal year, and the company is in cooperation with the group headquarters and the local corporation. In the process of reviewing the overall flow of establishing the standard cost through a case of the company A, it is possible to grasp the improvement points in the operation of the system. The second is cost variance analysis. To analyze the variance between the standard cost and the actual cost by various items, material cost, labor cost and overhead cost were classified into direct cost and indirect cost, respectively. If significant cost variances are caused by internal factors, the root cause must be found and improved. The background for adopting the standard cost of global company A is cost reduction through improvement of key cost drivers by facilitating comparative analysis of cost variance. In addition, it is possible to update the cost immediately when cost change factors occur, so it is easy to provide information in a timely manner for strategic decision making. The third is profitability analysis. This study analyze profitability by product, customer, region, team and sales representative based on the standard cost set in the budgeting process. If there is a disruption in achieving the target profit due to the difference from the budget, alternatives should be taken to overcome the difference.