Fundamentals of Cost Accounting

Introduction

Having the best information is the key to success. In today’s business environment, the development and use of information especially cost management information is a critical factor in the effective management of a firm or organization. As the business environment has changed, the role of cost management information has expanded to serve all management function.

The study of management and cost accounting yields insights into the changing roles and relationship between managerial activities and accounting intelligence. What types of decisions do managers make? How can accounting and management accounting information help managers make these decisions?

This course addresses these questions and look at some fundamental and also advanced management accounting techniques used in modern enterprises. The aim is to equip business managers and management accounting with necessary tools and knowledge to progress in the new competitive environment.

Key subjects that will be discussed in the course includes :

  • Information for informed management decisions
  • Management use of management accounting information
  • A new role for the management accountant
  • Different Approaches to Costing (Standard Costing, Activity-Based Costing)
  • Product costing in multinational firms
  • Decision Making with Relevance Costs and a Strategic Emphasis

 

Designed For :

Managers with direct financial responsibilities, managers and Seniors who need to know more about business planning, budgeting, costing terms and techniques. Cost and management accountant, financial planners and cost analysts, senior managers who supervise people with financial responsibilities, financial and budget controllers who are moving to wider responsibilities, managers who have to plan, cost and budget new business ventures. Managers and Supervisors from every business discipline and department who have to run departments and plan, cost and budget during their business lives. Managers who require a refresher programme on the topic or who would benefit from having an opportunity to consider new ideas and methods.

Training Methodology:
This interactive training course includes the following training methodologies as a percentage of the total
tuition hours:-
• 30% Lectures, Concepts, Role Play
• 30% Workshops & Work Presentations, Techniques
• 20% Based on Case Studies & Practical Exercises
• 20% Videos, Software & General Discussions

Certificates

A Certificate of Completion will be issued to those who attend & successfully complete the programme.

Schedule

  08:30 – 10:15 First Session

 10:15 – 10:30 Coffee Break

10:30 – 12:15 Second Session

 12:15 – 12:30 Coffee Break

12:30 – 14:00 Third Session

 14:00 – 15:00 Lunch

Training Methodology:

This interactive training course includes the following training methodologies as a percentage of the total tuition hours:

  • 30% Lectures, Concepts, Role Play
  • 30% Workshops & Work Presentations, Techniques
  • 20% Based on Case Studies & Practical Exercises
  • 20% Videos, Software & General Discussions
  • Pre and Post Test

Fees

 The Fee for the seminar, including instruction materials, documentation, lunch, coffee/tea breaks & snack is: