Introduction
As cost control becomes a strategic priority in an increasingly complex business environment, the ability to manage costs strategically and drive profitability is essential for long-term success. Cost accounting plays a vital role in helping organizations understand cost behavior, analyze cost structures, and make informed financial decisions that directly impact the bottom line. This course is designed to demystify the complexities of cost accounting by providing participants with a strong foundation in its core principles and practical applications. Participants will learn how to analyze costs, control spending, and improve resource allocation.
Course Outline
- Module 1
- Module 2
- Module 3
- Module 4
- Module 5
- Course Objectives
- Target Audience
Cost Accounting
- Financial accounting vs. cost accounting.
- Cost elements: materials, labor, and overhead.
- The role of cost accounting in financial planning and analysis.
- Basic cost classification methods and their applications.
- Importance of accurate cost allocation.
Job Costing and Process Costing
- Job costing systems.
- Steps in operating a job costing system.
- Process costing and its relevance in production.
- Job costing vs. process costing systems.
- Practical challenges in job and process costing.
Activity-Based Costing
- Activity-based costing and its advantages.
- Assigning costs based on cost drivers.
- Steps to implement ABC.
- Impact of accurate costing on profitability.
- ABC in a multi-product company.
Cost-Volume-Profit Analysis
- Cost-volume-profit (CVP) analysis.
- Break-even points and target income levels.
- Contribution margin and decision making.
- CVP analysis for a new product launch.
- Using CVP analysis for short-term decisions.
Budgeting and Variance Analysis
- Budgeting process and its role in management.
- Techniques for preparing flexible budgets.
- Variance calculating and interpreting variances.
- The role of variance analysis in operational performance.
- Identifying root causes of variances.
By the end of this course, participants will be able to:
- Explore the fundamental concepts and importance of cost accounting in business.
- Learn to classify costs accurately and apply cost accounting methods.
- Master the techniques of job costing, process costing, and activity-based costing.
- Analyze and control costs to enhance business profitability.
- Apply cost-volume-profit analysis to make informed financial decisions.
- Explore budgeting processes and variance analysis for managing financial performance.
- Understand the impact of costing decisions on financial statements.
This course is ideal for
- Accountants.
- Financial Managers.
- Operations Managers.
- Business Analysts.
- Management Consultants.
- Entrepreneurs.
- Business Owners.
- Auditors.
Course Schedule & Fees
- Kuala Lumpur
- Singapore
- Amsterdam
- Online
- Course Fees
This course will take place in Kuala Lumpur on the following dates:
| 12/05/2025 | 26/05/2025 | 09/06/2025 | 23/06/2025 |
| 07/07/2025 | 21/07/2025 | 04/08/2025 | 18/08/2025 |
| 01/09/2025 | 22/09/2025 | 06/10/2025 | 20/10/2025 |
| 10/11/2025 | 24/11/2025 | 15/12/2025 | 05/01/2026 |
| 26/01/2026 | 16/02/2026 |
This course will take place in Singapore on the following dates:
| 05/05/2025 | 26/05/2025 | 16/06/2025 | 30/06/2025 |
| 21/07/2025 | 11/08/2025 | 01/09/2025 | 22/09/2025 |
| 13/10/2025 | 03/11/2025 | 24/11/2025 | 15/12/2025 |
| 05/01/2026 | 26/01/2026 |
This course will take place in Amsterdam on the following dates:
| 19/05/2025 | 09/06/2025 | 30/06/2025 | 21/07/2025 |
| 11/08/2025 | 01/09/2025 | 22/09/2025 | 13/10/2025 |
| 03/11/2025 | 24/11/2025 | 15/12/2025 | 05/01/2026 |
| 26/01/2026 | 16/02/2026 |
This course will take place Online the following dates:
| 06/05/2025 | 03/06/2025 | 01/07/2025 | 29/07/2025 |
| 26/08/2025 | 23/09/2025 | 21/10/2025 | 18/11/2025 |
| 16/12/2025 | 13/01/2026 | 10/02/2026 |
| Kuala Lumpur | Singapore | Amsterdam | Online |
| USD$ 3,580 | USD$ 5,600 | USD$ 5,600 | USD$ 1,920 |
