Cost And Management Accounting for Non-Financial Executives (Islamabad)

July 23 – 24, 2024

Venue: PIM, Islamabad.

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COURSE DESCRIPTION

This three days course is meant to provide handful of knowledge about the costing system in an organization to the production related managers who are concerned with the costing of the products or department. The course is designed to cover all the major topics related to the cost accounting.

COURSE CONTENTS

• Concepts of Costs, its Classification and Basics of Cost Accounting System
• Design and Operation of Cost Accounting System.
• Process Costing and Its Design.
• Cost of Production Report and Accounting for Lost Units.
• Costing for By-Products and Joint Products.
• Factory Overhead and its Applications.
• Planned Applied and Actual Factory Overhead.
• Variance Calculations for Factory Overheads.
• Division of Service Department Costs over Production Centers
• Responsibility Accounting in Factory Overheads.
• Material Costing and its Control.
• Cost of Labor and it’s Control.
• Budgeting for Costs, Expenses and Sales.
• Concept of Flexible Budgets

LEARNING OUTCOMES

• Understand the cost, cost accounting and cost systems
• Know the integration of cost accounting with financial accounting
• Identify the elements of costs in a unit product
• Calculate the cost of production
• Measure the different variances
• Control cost of production
• Budget the costs, expenses and sales

TARGET AUDIENCE

The course will benefit in particular to senior executives, departmental managers and managers from Production related activities in an organization and in general to all managers who does not have an accounting background.