About Course

Day 1: Introduction to Cost Accounting

• Morning Session:
  • Overview of Cost Accounting
  • Importance and objectives of Cost Accounting
  • Differences between Financial Accounting and Cost Accounting
• Afternoon Session:
  • Cost Classification (e.g., fixed costs, variable costs, direct costs, indirect costs)
  • Cost Behavior (e.g., cost-volume-profit analysis)

Day 2: Costing Methods

• Morning Session:
  • Job Order Costing
  • Process Costing
• Afternoon Session:
  • Activity-Based Costing (ABC)
  • Advantages and disadvantages of different costing methods

Day 3: Costing for Decision Making

• Morning Session:
  • Cost-Volume-Profit (CVP) Analysis
  • Break-even analysis
• Afternoon Session:
  • Pricing decisions
  • Make or buy decisions
  • Special order decisions

Day 4: Budgeting and Variance Analysis

• Morning Session:
  • Introduction to budgets and budgeting process
  • Types of budgets (e.g., master budget, flexible budget)
• Afternoon Session:
  • Variance analysis (e.g., material, labor, overhead variances)
  • Interpreting variances and corrective actions

Day 5: Performance Measurement and Reporting

• Morning Session:
  • Key performance indicators (KPIs) in cost accounting
  • Balanced Scorecard and its relevance to cost accounting
• Afternoon Session:
  • Cost reports and analysis for management
  • Role of cost accounting in strategic decision-making