Participants will benefit by learning how to use cost accounting to improve profits, analyses reports for sound pricing decisions, select cost systems that is right for their organisation, measure results against budgets with greater accuracy, optimize the use of people, resource and materials, cost management strategies and generally post cost accounting best practices to work in their respective organizations.
Focus of The Workshop:
This course will teach participants how to develop and implement an effective cost accounting system and assist management in watching with an eagle’s eye where every Naira goes.
- Fundamentals of cost Accounting, Relating cost Accounting to Financial Accounting and the planning and control process.
- Relating budgets to planning and control
- Product costing systems and Accounting for Overhead.
- Activity-based costing for management control
- Assigning service department costs to calculate total cost
- Developing the target cost model, Absorption Vs. Direct costing
- Developing the target cost model
- Operating cost control strategies: experience of
- Nigeria and foreign Organisations in tackling stationery and printing expense, Light and power, Transport and travel, Motor vehicle maintenance expenses, Building, Computer, Medical, Salaries, pension, Marketing and distribution, postages, Telephones and other operating expenses
- Effective Human Resource Management as a cost management tool
- Costing and Computers.
This Workshop Is Designed For:
Director, Controllers, Cost professionals Engineer, Financial Accountants, Accounts Managers, Cost and Management Accountants, Cost analysts System analysts, Budget Managers, Auditors, Financial Managers, Plant and Works Managers, Admin Managers, Human Resources Managers and other senior staff who exercise cost management responsibilities in both the private and public sectors including Banks, Insurance Companies, OIL companies, Manufacturing Companies, Trading Organization, Service-providing Organizations, Government Ministries, Parastatals, Agencies, Commissions Institutions