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Costs As Basics for Planning and Control

Ref Dates Venues Fees
AA 14 14 May - 25 May Cairo 2500 USD Register Now
AA 14 08 Oct - 19 Oct Cairo 2500 USD Register Now

Objectives :

  • Improve participants skills needed for using cost accounting information in making, planning, controlling and performance evaluation decisions. 

Who Should Attend?

  • Cost accountants.
  • Accountants in budgeting departments. 

Course Outline :

  • Introduction to cost terms and purposes:
    • Cost accounting definition.
    • Cost purposes.
    • Cost elements classification
  • Cost Theories:
    • Total cost.
    • Direct cost.
    • Variable cost.
  • Determining how cost behave?
    • Variable elements.
    • Fixed elements. 
  • Cost-volume profit relationship:
    • Terminology.
    • Breakeven point.
    • Contribution margin.
    • Breakeven point (one product).
    • Breakeven point (product mix).
    • Cost accounting as an information system.
  • Importance of responsibility accounting.
  • Relevance, costs and the decision process.
  • Price decision and product profitability decision.
  • Standard costing:
    • Definition.
    • How to determine standard cost elements.
    • Variance analysis.
    • Using standard cost in:
      • Planning
      • Controlling
  • Relationship between cost information and budget.
    • Master budget.
    • Flexible budget. 

 

Duration :

Two weeks