(Financial Management Certificate Program Course III)
This course aims at introducing participants to different costing methods, cost measurement systems, and the process of costing and the value chain. Cost accounting gives company management the opportunity to perform effective monitoring and control the company's operations.
Costing Methods; Break-Even Point (Cost-Volume-Profit Analysis); Budgeting, Flexible Budgets and Variances; Cost Information for Decision-Making; Responsibility Accounting - Cost and Profit Centers; Pricing Decisions; Revenues and Cost Allocation.
This course is designed for individuals who have an interest or want to enhance their knowledge and skills in the area of Cost Accounting, Managerial Accounting and Corporate Controlling. At the end of the course participants should have a good understanding of the most common methods for cost measurement and inventory management, be able to prepare operating budgets and apply basic variances analysis having compared budgeted with actual performance.
Course participants should have a good understanding of financial accounting and some basic knowledge of quantitative methods. A sufficient prerequisite is the successful completion of the first two courses of the Financial Management Program - Principles of Financial Accounting and Introduction to Quantitative Methods.