A company cannot plan unless it understands its costs. By understanding the various facets of the cost accounting process, managers and executives will be able to create an efficient cost analysis system to better control and measure an enterprise's business function and bottom line.
The Effective Costing & Budgeting Management workshop is designed to discuss the main features of cost and management accounting and its applications in a business enterprise. It is essential for managers and executives of a firm to know how cost accounting information can be organised, so that quality decisions can be made.
As the focus is on the decision-making process, participants will not be required to understand the book-keeping process and the preparation of financial statements. Instead, upon completing the workshop, they will gain the know-how to apply various analytical techniques to make quality decisions.
Overview of Cost & Management Accounting
- Differences between financial accounting & management accounting
- Differences between marginal costing & absorption costing
- Concepts of relevant costs
- Benefits of standard costing & budgetary costing
Budgeting & Variance Analysis
- Interpretation, investigation & limitations: labour & materials
Cost Volume Profit (Break Even) Analysis
- Cost behaviour
- Fixed costs, variable costs & semi-variable cost
- Break-even analysis
- Margin of safety
- Decision criteria; applications
- Acceptance of special contracts
- Most efficient use of scarce resources
- Make or buy decisions
- Closing or continuance of a section/product
- Characteristics & applications
- Activity-based costing with case studies
Complete registration form below and submit.
Look out for confirmation email with soft copy invoice.
Remit payment by cheque, bank transfer or cash to TAKX Solutions Pte Ltd.
Look out for reminder email closer to workshop date.