Course Description
This course will discuss the examination of the concepts, theories, principles, and practices of cost accounting; development of quantitative and qualitative methods for analyzing raw data to provide useful decision-making information; and exploration of the use of various cost accounting techniques that support the business decision-making process and GAAP inventory costing
Course Objectives
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Examining a business situation, applying the IMA Code of Ethics, and formulating an acceptable course of action
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Learning how to analyze historical data in order to estimate costs for future management decision making
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Understanding how to calculate appropriate product costs within a designated business environment
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Preparing and interpret budgets and operating results through variance analysis
Who Should Attend?
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Accounting managers
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Accountants
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Cost, budget, and systems analysts
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Auditors
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Financial planners
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Anyone interested and wanted to develop his performance in accounting
Program Schedule
DAY 1
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Introduction to cost accounting
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Introduction to cost analysis
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Costanalysis and estimation
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Fundamentals of costing
DAY 2
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Review the institute of management accountants’ standards of ethical conduct for management accountants
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Overview of sarbanes-oxley legislation
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Cressey’s fraud triangle
DAY 3
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Review cost-volume-profit analysis
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Review the behavior of variable, fixed, and mixed costs
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Contribution margin vs. gross margin income statements
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Effect of taxes on CVP analysis
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Estimation of cost functions
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Regression analysis
DAY 4
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Detailed inventory cost flows for manufacturers and service companies
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Job order costing
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Process costing
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Transferred-in costs
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Activity based costing
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Graphical presentation of direct and indirect cost pools and flows
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Cost pools & rate calculations
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Direct (variable) and absorption (full) costing
DAY 5
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Transfer pricing
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Master/Static budget
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Static and flexible budgets
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Variance analysis
