• DAY1

    The Workshop will cover the following:

    Introduction to Cost Accounting
    • Definition of cost accounting
    • Understand the concept of cost accounting from a manager’s perspective
    • How cost accounting will help your decision-making process and help to focus on growth, profits, and opportunities
    Classification of Costs
    • The Difference Between Costs and Expenses
    • Direct Versus Indirect Costs
    • Costs Based on Level of Production (Fixed, Variable and Mixed Costs).
    • Production vs. Period Costs
    • Characteristics of overhead costs
    • Characteristics of variable costs
    The flow of Manufacturing Costs
    • Cost flow assumptions
    • Materials Inventory
    • Payroll
    • Manufacturing overhead
    • Work-in-Process Inventory
    • Finished Goods Inventory
    • Cost of Goods manufactured/ Cost of goods sold
    Standard Costing
    • Definition of standard costing
    • Standard costing versus actual costing
    • Definition of direct material, direct labor and manufacturing overhead
    • Application of the traditional costing system
    • Accounting for variances between standard costing and actual costing:

                 a) Direct Material
                b) Direct labor
                 c) Manufacturing overhead costs

    Other Costing Systems
    • Process costing
    • Job order costing
    • Activity based costing
    • Life cycle costing
    • Customer life cycle costing
    • Joint products and byproducts
    • Variable and absorption costing
    Budgets and Flexible Budgets
    • The use of standard costing for budget preparation
    • Analysis of variances between flexible budgets and actual results
    Implementing Cost Accounting
    • Get the accounting department on board — how to convince them that extra work involved with producing cost accounting data that is worth the effort 
    • ​How to work through the challenges involved in implementing a cost accounting system within your organization
In Summary, the workshop will cover the following points:
  • Understand the core concepts of cost accounting.
  • ​Improve your decision-making process
  • Implement financial strategies to boost performance and profitability


In addition to the valuable knowledge and the skills participant will get:

  • Certificate of course completion
Target Audience:
  • Accountants
  • Analyst
  • Accounting managers
  • Cost analysts
  • Budget analyst
  • Auditors
  • Operations managers 
To Be Announced
DAY 1, SaturdayFrom9:00 Am
To5:00 Pm
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Yields LLC 5th Flr - Berytech Bldg

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