Cambridge DIPLOMA ON COST ACCOUNTING

This Program clearly and concisely introduces the principles and purposes of cost accounting so they can be applied in practical business situations by a wide range of people including finance/accounting personnel, managers, men and women involved in production and manufacturing, and many others.  Within a short period of time you can become a valued and professional person proficient in cost accounting practices and techniques.  The Program covers cost accounting methods for manufacturing, services, private, governmental, not-for-profit and trading organisations, with many examples which clearly illustrate and explain the relevant techniques and concepts in a clear easy-to-follow way; it explains how to understand, deal with, and allocate different costs in order to make sensible and helpful business and operational decisions; it also shows how costing complements management and financial accounting.

• Cost accounting - its scope and definition.
• Cost accounting techniques and relationship to budgeting.
• Appraisal of benefits and methods of cost accounting.
• Cost accounting terminology; classification of costs, overheads, direct costs, total costs.
• Dealing with cost centres and cost units.
• Cost behaviour in different circumstances, distinguishing differences between types of costs.
• Classes of costs, prediction and analysis of costs, methods and models for handling costs.
• Labour costs, remuneration methods for workers, output, hours, direct and indirect costs.
• Material costs; pricing methods, FIFO, LIFO, AVCO, replacement costs .
• Stock valuation, just-in-time stocks.
• Absorption costing; overheads, rates of absorption, application to cost units and centres.
• Absorption costing for non-manufacturing organisations.
• Activity based costing; overheads, AMT, cost drivers, activities, the business environment.
• Marginal costing, revenue statements, contribution, ratios, breakeven analysis, safety margin.
• Marginal costing short-term decision making, make or buy, single orders, shortages, factors.
• Planning, budgeting; framework, process, control, integration, data, zero-based, activity-based.
• Standard costing and variance analysis, investigation, causes, appraisal.
• Capital investment appraisal; discounted cash flows, ARR, IRR, NPV, payback, risk.