Take a deep dive into the critical world of Practical Costing Essentials tailored for non-finance professionals. This comprehensive course ensures participants become adept at identifying cost behaviour patterns, discerning the intricate relationship between fixed and variable costs, and separating mixed costs effectively. They'll also gain insights into estimating the influence of varying costs, processes, and volumes on profit margins and calculating pivotal metrics like the break-even point.

Additionally, attendees will learn the nuanced distinctions between discretionary and committed fixed costs. The course culminates in a thorough exploration of the budgeting process, evaluating its nature, characteristics, strengths, and weaknesses. By leveraging capital budgeting evaluation models, participants will be poised to craft astute expenditure budgets. With Tertiary Courses, you're not just learning; you're preparing to make informed financial decisions in the corporate world.

Certificate

All participants will receive a Certificate of Completion from Tertiary Courses after achieved at least 75% attendance.

Funding and Grant

HRD Corp Claimable Course for Employers Registered with HRD Corp

Course Code: M732

Topic 1: Cost Components

• Direct Materials, Direct Labour costs, Manufacturing Overhead

• Prime Costs, Conversion Costs

Topic 2: Product Versus Period Costs

• Product Costs

• Period Costs

Topic 3: Cost Behavior

• • Nature of Costs, Variable Costs, Fixed Costs

• • Economies of Scale

• • Business Model

Topic 4: Cost Bahavior Analysis

• Mixed Costs

• High-Low Method, Least Squares Method

Topic 5: Break-Even and Target Income

• Contribution Margin

• Break-even Calculations, Target Income Calculations

Topic 6: Sensitivity Analysis

• Changing Fixed Costs, Changing Variable Costs

• Blended Cost Shifts, Per Unit Revenue Shifts

Topic 7: CVP for Multiple Products

• Multiple Products, Selling Costs, and Margin Management

Topic 8: Job Costing Concepts

• Cost data Determination, Conceptualizing Job Costing,

• Tracking Direct Labor, Direct Materials, Overhead

Topic 9: Tracking Job Costing Within Corporate Ledger

• Direct Material, Direct Labor, Applied Factory

• Overhead, Global Trade and Transfers

Topic 10: Process Costing

• What is Process Costing?

• Job Costing Versus Process costing

Topic 11: Cost Allocation to Completed Units and Units in Process

• Cost of Production Report, Journal Entries

Topic 12: Activity-Based Costing

• Pros and Cons of ABC, Reality of ABC, Implement ABC

Topic 13: Case Study