Practical Cost Accounting: A Tool of Cost Efficiency training centre in Bangladesh

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Practical Cost Accounting: A Tool of Cost Efficiency

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 session

Contents 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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Managers responsible for managing any business vertical, existing and potential entrepreneurs, midlevel leaders of sales, finance, HR, marketing or general management team will be enormously benefited from this workshop.



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