Cost and Management Accounting

Code: CMA

Synopsis
Today’s business has become complicated, full of challenges and uncertainty. Many business crises can be traced back to one of the most common cause – poor financial control. Therefore, cost and management accounting are widely used to ascertain the production cost/services, provide valuable information for taking various decisions, and to enhance cost control and operation efficiency.

 

All types of businesses, whether service, manufacturing, require cost accounting to track their activities and help to understand the costs of running a business. Management accounting, which is the extension of cost accounting, helps management to conduct the business in a more efficient manner.

 

This course is intended to provide participants with the basic concepts of cost and management accounting. It deals with computing the cost of manufacturing a product (or providing a service), identifying cost behavior in order to use cost-volume-profit relationships and setting prices.

 

Participants will also learn the basic of “standard costing” and the related variances. This is a valuable management tool. If a variance arises, management becomes aware that manufacturing costs have differed from the standard (planned, expected) cost.  Immediate action can be taken to investigate the root cause to enable preventive measures.

 

Objectives
  • Learn the basic concepts of cost and management accounting.
  • Understand standard costing and variances, its applications and implications.
  • Apply the learning of concepts through related work activities.
Who should attend
This program is an intermediate level accounting. It is suitable for accounts executives or managers who like to acquire the basic concepts of cost and management accounting to enhance their practical skills.

Duration: Two days.

Class size: Minimum 4 to 6 participants. Maximum 20 participants.

Remarks: HRDF claimable.

                                                                                                                                                  
Online course registration
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