Cost Control – Advanced Course- Formatech

Business and Management

hours

language

English

Summary

This workshop will help participants to have an advanced idea about the cost management, costing systems and the methods to allocate overhead costs.

Especially to the seniors and managers in finance, cost, budgeting, production, business development, business planning departments who are in need to have a deep idea regarding the costing system.

Target Audience

This course will appeal to a wide range of audiences and is intended for Business Professionals who intend to earn financial skills.

Skills Gained

Identify cost measurement systems
Understand the cost accumulations systems
Understand the method of allocation overhead
Differentiate between traditional cost allocation and Activity Based Costing
Differentiate between variable costing versus absorption costing
Know more about budget role, construction and control

01 Cost Structure and Cost Management Overview
+

Cost Structure and Behaviour
Classifications of Costs
Flow of Manufacturing Costs
Direct Materiel, Direct Labour and Overhead Costs
Inventory: Raw Material, Working in Progress and Finished Goods
Difference Between Cost of Goods Sold & Cost of Goods Manufactured

02 Costing System
+

Cost Measurement Systems
Cost Accumulations Systems
Method of Allocation Overhead

03 Traditional Cost Allocation Versus Activity Based Costing
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Full and Marginal Costing
Linking Resources,
Activities and Management
Traditional Cost Allocations Systems Vs. Activity-Based Costing
Activity Based Management
Activity Based Costing

04 Variable and Absorption Costing
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Variable Costing
Contribution Margin
Absorption Costing
Gross Profit

05 Variable and Absorption Costing
+

Budgeting Within Management Accounting
Value of Budgeting
Role of Costs in Pricing Strategies
Behavioural Implications of Budgeting
Creating Key Performance Indicators (KPI) For Financial and Non-Financial Performance
Balanced Scorecard

minimize course outline