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Effective management of accounting departments
Objectives

 

  • 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:
    • Providing the accounting data and information essential for managerial decision making
    • Budgeting and cost control with the objective of achieving maximum managerial planning and control
    • Directing and controlling the organizational resources with the objective of realizing the greatest profit
    • Designing and developing cost information systems which are the bases for finance and managerial accounting

Outlines

 

  • Financial accounting versus cost accounting
  • Objectives of Cost Accounting
  • Definition of Cost
  • Cost classification and its uses
  • Manufacturing statement and reporting
  • Job order cost system versus process costing
  • Allocation of factory overhead
  • Absorption costing and variable costing
  • Cost-Volume-Profit analysis CVP “Breakeven analysis”

 

A. Decision Making and relevant information

  1. Make or Buy
  2. Special Order
  3. Disinvestment
  4. Obsolete inventory
  5. Working under constrains
  6. Joint costs and its decisions

B. Process Costing: Equivalent units’ solution

Variance Analysis:

A. Direct Material

B. Direct Labor

C. Manufacturing overhead

Who Should Attend

Duration

5 Days

Start Date End Date Country City

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