Cost Accounting

[bsmart]

What You Will Cover

Introduction to Cost or Managerial Accounting

· Understand the Place of Cost or Managerial Accounting in Relationship to Financial Accounting.

· Understand the Planning and Control Process and Its Relationship to Cost Accounting.

· Relate Budgets to the Planning and Control Process.

· Recognize the Use of Budgets as a Tool within Both Traditional and ABC Cost Systems.

· Recognize Techniques to Enhance Budgeting Accuracy and Make Budgets More Relevant.

Product Costing Systems and Accounting for Overhead

· Understand the Application and Uses of Job Order Costing.

· Understand the Application and Use of Process and Operational Costing.

· Understand Reasons Behind Overhead or Burden Rates.

Standard Costing and Variance Analysis

· Understand Different Approaches to Setting Standards, and the Implication of Each Approach.

· Understand When Standards Should Be Changed.

· Understand the Process of Variance Analysis for Material, Labor, and Overhead Variances.

· Understand Implications for Unit Product or Service Costs of Fixed and Variable Cost Behaviors.

· Understand Difference between Absorption and Direct Costing Methods.

· Understand the Organizational Levels at Which Direct Costing May be Appropriate, and the Uses of Direct Costing Information.

· Recognize the Process and Requirements for Establishing a Direct Costing System.

Relevant Costing and the Contribution Approach to Decision Making

· Determine What Costs Are Considered Relevant in a Decision-making Process

· Apply Relevant Costing to Evaluate Different Scenarios in Making Decisions

Who Should Attend

Accountants, accounting managers, cost accountants, cost analysts, budget analysts, systems analysts, auditors and financial planners.

Learning Objectives

· A Better Comprehension of What Cost Accounting Is and How It Related to Financial Statements and Internal Reports.

· An Understanding of Various Methods Used to Collect Costs and Assign Both Direct Costs and Overhead to Various Products and Services.

· The Means and Understandings to Analyze Variances from Standard Costs and Determine the Cause of Those Variances.

· Tools for Analyzing the Impact of Changes in Costs, Volumes and/or Profits Through Break-Even and Contribution Margin Analysis.

· An Understanding of What Costs Are Relevant in Decision-Making.

You will able to know:

· Relating cost accounting to financial accounting and the planning and control process.

· Budgets as a tool within both traditional and ABC cost systems.

· Enhancing budgeting accuracy.

· Product costing systems and accounting for overhead.

· Activity-based costing for management control.

· Standard costing and variance analysis Variance analysis for material, labor and overhead variances.

لT. 23647839-0100034233

Duration

Language

20 hours

Arabic

English