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Fundamentals of Cost Accounting

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16 Nov 2025 Tunisia $ 4,500 Register
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Fundamentals of Cost Accounting

Introduction

Management accounting is an integral part of financial management. Management accounting techniques have now become indispensable tools, widely used by companies to deal with process improvement and in support of their strategic decision-making. The implementation of costing systems, budgetary control systems, and performance reporting are further important management accounting functions that support the planning and control processes of the business.

One of the roles of accounting is to determine how well a business may or may not be performing and how its business processes may be improved. The management accounting function is particularly concerned with the problem-solving and decision-making roles of accounting. Delegates will be able to understand, apply, and critically evaluate management accounting techniques used in planning, control, process improvement, and decision-making within organizations. They will also be able to identify how management accounting can provide support for the strategic aims of the business.

Objectives

    Attendees will develop their costing and management accounting knowledge and skills through being able to:

    • Use the alternative approaches of full costing and marginal costing
    • Develop activity-based costing (ABC) to deal with them over and under-costing products and services
    • Evaluate the differences between full costing, marginal costing, and activity-based approaches to costing
    • Use break-even analysis
    • Develop cost/volume/profit (CVP) relationships and Excel© models for ‘what-if’ analysis and profit modeling
    • Construct budgets for planning and control
    • Use the techniques in support of:                   

                        -make-versus-buy decisions

                        -shut-down versus continuation decisions

                         -product mix decisions

    • Consider risk and uncertainty and their impact on decision-making
    • Develop systems of performance evaluation and budgetary control
    • Use modern approaches to cost management and strategic accounting, for example, activity-based management (ABM), quality costing, and balanced scorecard.

Training Methodology

This is an interactive course. There will be open question and answer sessions, regular group exercises and activities, videos, case studies, and presentations on best practices. Participants will have the opportunity to share with the facilitator and other participants on what works well and not so well for them, as well as work on issues from their own organizations. The online course is conducted online using MS-Teams/ClickMeeting.

Who Should Attend?

Within all businesses, performance is measured in one way or another and there is a requirement to read, interpret, or contribute to business financial reports in the support of improvements to operational and financial performance. This course will benefit those employed in a non-financial or financial role in the administration, operations, manufacturing, marketing, engineering, logistics, purchasing, accounting and finance, and human resources management, and also project managers and senior managers who are involved with the development of long-term customers, suppliers, outsourcing partners, and other strategic roles.

Course Outline

  • The Elements of Management Accounting
  • Financial Accounting versus Management Accounting
  • Fixed Costs and Variable Costs
  • Full costing
  • Marginal Costing
  • Activity Based Costing (ABC)
  • Break-even and Cost/Volume/Profit (CVP) Analysis
  • Budgeting and Control Systems
  • The Budget as a plan
  • Budgeting for control
  • Preparing The Budget
  • Control Systems
  • Motivational and Behavioral Aspects of Budgeting
  • Problems in Budgeting
  • Decision-Making
  • Approaches to Risk and Uncertainty
  • Relevant Costs
  • Deciding Whether to Shut Down a Department or a Plant
  • Deciding Whether to Outsource or Manufacture
  • Deciding on The Optimal Product Mix
  • Pricing decisions
  • Budgetary Control
  • Standard Costing Systems
  • Standard Costs
  • Flexible Control Budgets
  • Variance Analysis
  • The Reasons Why Variances Occur
  • Reporting Management Performance
  • Modern Approaches to Cost Management
  • Activity Based Management(ABM)
  • Life-cycle Costing, Target Costing, Kaizen Costing, and Quality Costing
  • Just in Time (JIT)
  • Management Accounting Strategies
  • Balanced Scorecard
  • Transfer Pricing

Accreditation

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A very useful course with relevant topics which I will definitely use in my work. The covered topics will help me improve the daily work as well as step up my level of Excel and VBA. The instructor's way of presenting the topics was very interesting, well-structured and interactive. I will definitely recommend the course to my colleagues.

Huda Al-Enizi

KPC, Kuwait

I received deeper and more useful perspective in my profession and almost immediately made relevant changes to my way of working.

Mousa AL-Qahtani

Saudi Aramco Co. - KSA

"This course is essential for staffs who are aspiring to assume the role of managers."

Alison Cowley

Adnoc Distribution Co., UAE

"Brilliant new ideas and solutions for challenges. The conference covered many topics suitable for both beginners and experts in career development."

Essam Dad

Assistant Divisional Manager,Wintershall Co., Libya