CATEGORY TYPE: Finance & Accounting

COURSE NAME:Cost Management


This course can be scheduled at your convenience, to request this course please click here
Objective: • This workshop is designed as an active learning approach to develop the skills of cost and management accounting. • By the end of this workshop, participants will be able to: acquire the knowledge, skills and attitudes required for: o Providing the accounting data and information essential for managerial decision making o Budgeting and cost control with the objective of achieving maximum managerial planning and control o Directing and controlling the organizational resources with the objective of realizing the greatest profit o Designing and developing cost information systems which are the bases for finance and managerial accounting
OUTLINE: Contents: • Define cost and cost Classification • Variable Costing & Absorption Costing • Actual, Normal and Standard Costing • Spoilage, Rework and Scrap and their accounting treatment • Job Order And process Costing • Equivalent Units in Process Costing • Spoilage, reworks, and scraps in job order costing • Spoilage, reworks, and scraps in Process order costing • Fixed and Variable Overhead Cost • Overhead Allocation • Fixed & Variable Overhead Cost Allocation Rates • Plant-Wide and Department Overhead and ABC Overhead Costing • Factory overhead accounts • Activity Based Costing (ABC) • Decision Making o Cost Definitions for purposes of Decision Making o Income statement format for internal reporting and external reporting o Make or Buy Decision o Special order decision o Disinvestment decision o Obsolete inventory o Capacity constraints and product mix o Qualitative factors have to be considered before deciding • Responsibility centers • Contribution Approach • Transfer Pricing • Common Cost • Variance Analysis o Direct Material Variance o Direct Labor Variance o Factory Overhead Variance • Budgeting o Define budgets and their advantages o Prepare budgets in a business o Define master budget and their main components o Define and prepare all sub-budgets, revenue, variable cost, fixed cost, proforma income statement, proforma cash flows and cash budget o Use budgets to manage and control the company
WHO SHOULD ATTEND: Who Should Attend? • Cost Accountants • Management Accountants • Financial reporting accountants • Financial Accountants • Budgeting managers • Chief Accountants • Financial Managers
    • 5 Day(s)

    The presentation is generally appealing to me. The dedication & devotion of the instructor are both laudable & admirable.
    Mohammed F. Alotaibi

    Really this course is important for any inspector, so I will recommended it for our employees. And thanks a lot!
    Ahmed Al-Yami

    You are doing excellent bringing such very talented instructor. Please keep it up.
    Ahmed Afifi
    Al-Zamil CoolCare

    I would like to appreciate you as well as the instructor for a good training due to the fact that the helping to gain new information about the types of valve with advantages and disadvantage as well. Many thinking.
    Zaki Ali Aldawood

    This course was very beneficial and helpful to understand one of the Major NDT method. I encourage ITC to continue with this performance.
    Talal Saad AlHasawi

    ITC service was in overall excellent. Thanks.
    Wael M. Morsy

    This course was good and a nice guide to the PMP exam. Thanks.
    Yazeed Mohamed Mreki
    General Authority of Civil Aviation (GACA)

    It was good course & good preparation with excellent instructor. Thanks a lot.
    Faisal Mahdi Al-Qahtani

    It was a nice course to have. I suggest taking this course with the same instructor to other people. Thanks for the instructor for his kindness & helfull during the course.
    Abdul-Moniem Al-Humoud

    It is very important course, which enable us to improve our knowledge to work approaching our big account and can be recall us the key account. This is will support us to active result for the best of the Co.
    Mohammed Amjad
    Al-Suwadi Services

    The instructor is highly and technical knowledgeable in explaining all the subject in the course taken.
    Noel V. Garan
    Coldstorec Group Of Saudi Arabia

    Instructor was well prepared and knowledgeable I gain lot of useful information.
    Gulam Khan
    Saudi Aramco

    It was a good learning experience. Got to know the concept involved in key account.
    Muthuraman Nachiappan
    Al-Suwadi Services

    The instructor Mr. Ahmed Sabry has a very nice spirit.
    Salam Fakhoury
    Al Khodari Company

    It is very useful to us and increase our knowledge.
    Mohammed Rashed Afifi
    Al Khodari Company

    The course is excellent and helpful. It help me in organizing the work in more safe manner.
    Muzammil Hayat
    Al Khodari Company

    The instructor is very knowledge and hard working, his way of teaching is very good.
    Ibrahim Darwish
    Al Khodari Company