INTRODUCTION
This course will discuss the examination of the concepts, theories, principles, and practices of cost accounting; development of quantitative and qualitative methods for analyzing raw data to provide useful decision-making information; and exploration of the use of various cost accounting techniques that support the business decision-making process and GAAP inventory costing.
PROGRAMME OBJECTIVES
- Examining a business situation and formulating an acceptable course of action
- Learning how to analyze historical data to estimate costs for future management decision making
- Understanding how to calculate appropriate product costs within a designated business environment
- Preparing and interpreting budgets and operating results through variance analysis
WHO SHOULD ATTEND?
- Accountants
- Cost, budget, and systems analysts
- Accounting managers
- Auditors
- Financial planners
- Anyone interested and wanted to develop his performance in accounting
PROGRAM OUTLINE
- Introduction to cost accounting
- Introduction to cost analysis
- Costanalysis and estimation
- Fundamentals of costing
- Lean Production, the Theory of Constraints, and Six Sigma.
- Inventory Management, Just-in-Time, and Simplified Costing Methods
- Review the institute of management accountants’ standards of ethical conduct for management accountants
- Review cost-volume-profit analysis
- Review the behavior of variable, fixed, and mixed costs
- Contribution margin vs. gross margin income statements
- Effect of taxes on CVP analysis
- Estimation of cost functions
- Regression analysis
- Detailed inventory cost flows for manufacturers and service companies
- Job order costing
- Process costing
- Transferred-in costs
- Activity based costing
- Graphical presentation of direct and indirect cost pools and flows
- Cost pools & rate calculations
- Direct (variable) and absorption (full) costing
- Transfer pricing
- Master/Static budget
- Static and flexible budgets
- Variance analysis
- Profit Planning/budgeting
