Principles of Cost Accounting and Cost Reduction Strategies

  • Start Date

    10 May, 2021

  • End Date

    12 May, 2021

  • Price

    ₦185,000

  • WiFi

    Free wifi

Event Details

To teach the best practice in principles of cost accounting and cost reduction.

 

CONTENT

Overview of cost Accounting

- The uses of cost data

- Cost accumulation methods

- Elements of cost

 

Process Costing: Joint and by-Product Costing

- Single process costing

- Multiple process costing

- Joint products

 

Cost Reduction and Control

- Cost reduction defined

- Measuring performance

- The cost reduction budget

 

Job Order Cost System

- Direct labour costs

- Manufacturing overhead

- Finished goods

- Job order cost sheet

 

Cost Control

- Responsibility reporting

- Analyzing reporting

- Analyzing variances

- Controlling clerical expense

 

Decision Making

- Cost-volume-profit analysis

- Capital investment

- JIT and backflush costing

- EOQ (Economic order Quantities)

- Make-versus-buy decisions

 

FOR WHOM:

Accountants, Auditors, Senior and Middle Level Financial Managers, Treasurers, Controllers and Directors/Managers or Treasury Operators.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

 

DATE:

1ST BATCH: 10th – 12th May, 2021           

2ND BATCH: 2nd – 5th November, 2021

Other Dates

Start Date End Date
10 May, 2021 12 May, 2021
Start Date End Date
02 Nov, 2021 05 Nov, 2021
  • Venue

    Alpha Partners Professional Training Conference Centre. 200, Muritala Mohammed Way (3rd Floor), Yaba Lagos.

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