Cost & Management Accounting

Module 1 - Cost Accounting & Business Decisions

·The Meaning, Purpose and Scope of Cost Accounting

·Cost Accounting and Business Decisions

·Cost Accounting Terminology: Direct, Indirect, Classifications, Cost Centres

·Overheads, Cost Allocation and Apportionment

Module 2 - Cost Behaviour

·Fixed, Variable, Semi-variable and Stepped Costs

·Cost Classification Techniques

·Prediction of Cost Behaviour

·Cost Behaviour Analysis

Module 3 - Accounting for Labour Costs

·Labour Costs, Wages, Salaries and Remuneration Methods

·Labour Costs at Different Levels of Output or Activity

·Labour as a Direct Cost and as a Fixed Cost

·Labour Cost Data

Module 4 - Accounting for Material Costs

·Importance of Material Costs

·Pricing methods: FIFO, LIFO, AVCO, Replacement, Standard Cost

·Materials Pricing Objectives and Stock Valuation

·Just-in-time and Materials Requirements Planning

Module 5 - Absorption Costing

·The Meaning, Aims and Importance of Absorption Costing: Unitization of Fixed Overheads

·Cost Allocation, Apportionment and Absorption into Total Cost

·Absorption Rates and Bases

·Cost Units and Cost Centres, Service and Production Departments

Module 6 - Activity Based Costing

·Importance, definition and framework of Activity Based Costing (ABC)

·Short-term and Long-term Variable Overhead Costs

·Advanced Manufacturing Technology (AMT)

·Cost Drivers, Rates and Overheads with ABC

Module 7 - Marginal Costing

·The Meaning of Marginal Cost and the Importance of Contribution

·Marginal Costing Principles and the Treatment of Overheads

·Revenue Statements in Marginal Cost Format

·Break-even (Cost-Volume-Profit) Analysis, Safety Margin and Profit Volume Charts

Module 8 - Marginal Costing Short-term Decision Making

·Short-run Decisions: Make or Buy, Single Orders, Shortages, Choices

·Determining the Principle Factors in Decision Making

·The Meaning and Calculation of Opportunity Costs

·Limitations of Marginal Costing in Short-term Decision Making

Module 9 - Planning and Budgeting

·The Purpose of Budgets, the Budgetary Process, an Organizational Framework for Budgeting

·The Interrelationships of Budgets from Sales to Master Budget, Integrated Budgets

·Uncertainty Factors in Budgeting, Sources of Data used for Creating Budgetary

·Rolling Budgets, Zero-based Budgeting, Activity-based Budgeting

Module 10 - Standard Costing and Variance Analysis

·The Definition of Standard Costs

·Variance Analysis: Price and Quality, Adverse and Favourable

·Types of Variance, and Calculation of Cost Variances

·Variance Investigation: Variances under Marginal and Absorption Costing

Module 11 - Capital Investment Appraisal

·The Importance and Purpose of Capital Investment Appraisal

·Conventional Techniques of Appraisal: ARR, IRR, Payback

·Discounted Cash Flow Appraisal Techniques, Interest

·Risk and Uncertainty, Comparing Different Appraisal Techniques

Module 12 - Management Accounting and Control

·Single and Multi-Product/Service Businesses and Production Costing Systems

·Costing for Product Life Cycles, Value Chain Analysis

·Competitor Analysis and Competitive Advantage

·The Control and Management of Working Capital