Practical Cost Accounting: A Tool of Cost Efficiency
- Date : 02 - 03 September 2022
- Duration : Evening(7:00 PM-10:00 PM)
- No. of Classes/ Sessions : 2 Sessions
- Class Schedule : Friday & Saturday
- Total Hours : 6
- Last Date of Registration : 31 August, 2022 ( within 5pm )
- Venue : Online Virtual
- Training certificate will be provided within 10 working days after completion of training successfully.
Introduction
Topics Overview in Brief:
Enterprises are required to be cost efficient in every step for its competitiveness in the market. Managers always come across the challenges to take pro-business decision to fulfill growth agenda of the Board. In the fast changing business world, Managers have multiple options in taking business to achieve enterprise’s objective. Any slackness in decision making process will pull the enterprise backward. Importance of knowing about established and proven techniques is enormous for the Managers to successfully manage the enterprise. This workshop content is designed in line with the need of the Managers of enterprises.
Objectives:
This course covers a broad range of financial analyses and tools and techniques which are proven and highly practiced in enterprise operation. This course will give participants profound confidence in analyzing business information, making solid business decisions, and thus generating additional resources and attaining the overall goal of business.
Methodology
Interactive, Live screen sharing, Q/A sessionContents of Training:
Topic 01: Cost Accounting:-its importance and objective;
Topic 02: Cost Statement:
-Preparation of Cost Sheet to estimate the cost of a product;
Topic 03: Cost profit volume relationship:
-Meaning and importance of CPV analysis, contribution margin, implication of CVP analysis in commercial organization,
-Break even analysis in single and multiproduct environment, margin of safety;
Topic 04: Job order costing:
-Importance
-Job order costing in manufacturing and service companies;
Topic 05: Absorption costing and variable costing:
-Meaning and importance of Absorption and variable costing,
-Preparation of Income Statement under Absorption and
-Variable costing, reconciliation of variable Costing with absorption Costing Income;
Topic 06: Budgeting:
-Definition and advantages of budgeting,
-Responsibility accounting,
-Data flow in budgetary system,
-Master budget and its preparation
-Flexible budget;
Topic 07: Standard Costing:
-Importance of Standard Costing,
-Computation of different variances,
-Implication of variances in enterprise’s decision making process;
Topic 08: Relevant Costing for decision making:
-Techniques to be applied in taking decision involving options like Make or buy,
-Continue or shutdown of business operation,
-Sell or further process etc.
Question answer session and discussion on real life issues.
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Mohammad Zahid Hossain
FCA, ACA (ICAEW), ACMA, CGMA, CPA (Aust.)
Mohammad Zahid Hossain, born on 1972 is a Chartered Accountant, a Fellow Member of The Institute of Chartered Accountants of Bangladesh (ICAB) since 2002. He is an Associate Member of Chartered Institute of Management Accountants (CIMA), Institute of Chartered Accountant in England and Wales (ICAEW) and Full Member of CPA Australia. He is also a Chartered Global Management Accountant (CGMA).
Mr. Hossain carries with him an array of experience which ranges from as Corporate Executive to Trainer.During his long professional life of more than 23 years, he worked under various capacities in different National and Multinational companies, Accounting Firm. He has been shouldering a lot of responsibilities in the areas of Direct & indirect taxes, Strategic planning, Accounting, Risk Management, Finance and Corporate & Legal Affairs.
Mr. Hossain is an acclaimed writer for various financial journals and national English Dailies. He attends TV programs as discussants on business and economy related topics.
He is an active member of standing and non-standing committees of The Institute of Chartered Accountants of Bangladesh.
In addition to his full-time role as Group CFO of Rahimafrooz, he had been serving as a Board Member for Bangladesh Petroleum Exploration and Production Company Limited (BAPEX) from April 2015 to August 2020.
He is a part-time Faculty of a reputed private University. He is available for academic and career advice. Helping young graduates find their career path and make their mark, in the current world of diverse career and educational paths.
He worked actively for NGOs and Donor Agencies in the fields of financial advisory, statutory and special Audit, taxation etc. He imparted training as outsourced trainer to various Organizations including Manusher Jonno Foundation (MJF), CBM etc. based on their need. He is an enlisted Trainer of Bdjobs.com and DCCI Business Institute.
He completed his Bachelor of Commerce under Dhaka University. Earlier in his academic endeavors, he stood 13th in the commerce merit list of Higher Secondary School (HSC) examination.
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