Cost Management: Accounting and Control ON DEMAND

Overview

This course covers the managerial use of accounting, financial, and operating data for planning, control, and decision making. Emphasis is placed on how to manage costs strategically in order to be globally competitive. The course is designed for managers and entrepreneurs who seek continuous improvement strategies.

Highlights

Cost management. Cost management principles. Job order costing system. Overhead allocation. Cost-volume profit analysis. Cost behavior analysis. Budgeting system. Controlling cost centers. Measuring the performance of a profit center. Evaluating an investment center. Making non-routine decisions. Making long-term decisions. The effect of income taxes on investment decisions. Process costing. Quality management. Inventory and order management.

Prerequisites

None.

Designed For

CPAs, CFOs, controllers, financial professionals, and auditors.

Objectives

Recognize the nature and scope of cost accounting and cost management. Distinguish between cost accounting and its related fields such as managerial accounting and financial accounting. Identify the three broad purposes for which the manager needs cost information and the roles of the treasury function. Identify developments in the cost accounting and cost management discipline with total quality management and business process engineering. Identify examples of each of the basic cost elements involved in the manufacture of the product. Distinguish between variable costs and fixed costs and explain the difference in their behavior. Recognize the difference between direct and indirect costs. Recognize the usefulness of the contribution approach to income determination and differences between it and the traditional income statement, and more.

Preparation

None.

Notice

None.