COST CONTROL AND MANGEMENT
CLASSROOM FEE: ₦80,000 | ONLINE FEE: ₦60,000
OBJECTIVES
The cost concept is fundamental in taking strategic decisions in an entity.
At the end of the program, participants will be able to:
- derive the basic knowledge about costs identification and effective control measures
- Apply the essential concepts of accounting, budget, and finance
- Apply the use of unit cost measurements in performance-based budgeting
- Maintain strategic cost control
- Appreciate the importance of reducing unnecessary costs.
- Determine and apply the cost estimated to produce those outputs and calculate a cost per unit of output.
COURSE CONTENT
Fundamentals of Costing
- Definitions and Terms
- Types of Costs/Cost Classification
- Costs elements
- Costs compilation
Cost Control Application
- Setting Standard Costing
- Costs Variance analysis
- Price /Costs relationship
Manufacturing Cost Concept
- Direct and Indirect Cost
- Materials cost
- Labour costs
- Overhead cost
- Job Costing process
Cost Absorption concept
- Variable Absorption
- C-V-P analysis
Inventory Cost
- Definition inventory cost
- Ascertaining inventory cost
- Inventory control and management.
- Stock valuation methods
- Relevant terms
FOR WHOM: All Accountants, Management and Cost Accountants in Public and Private Sectors. All related functions.