Practical Costing

Aim:

To equip learners with the knowledge and   skills needed to use and apply management accounting and cost accounting techniques within an organisation

COURSE OVERVIEW:

This course examines the concepts and procedures underlying the development of a cost accounting system for decision making, control, and performance reporting. Topics include Classification of costs, cost accounting techniques; valuation of stock, absorption costing, marginal costing, and activity based costing, lifecycle costing, job and batch costing, standard costing, budgetary planning and control systems, cash budgets, ratio analysis and financial performance indicators.

LEARNING OUTCOMES:

Upon completion of this course students will be able to:

• Identify and calculate different types of costs (direct, indirect, variable, and fixed costs).
• Prepare inventory control procedures and apply different stock valuation techniques.
• Distinguish between various costing systems.
• Apply costing methods to determine performance evaluation.
• Plan and prepare cash budgets
• Calculate financial performance measures

• Ratio Analysis.