Introduction:

Welcome to the Advanced Cost Accounting training program, designed by Global Horizon Training Center. This program aims to provide participants with a comprehensive understanding of advanced concepts and techniques in cost accounting. By exploring advanced cost accounting methodologies, participants will gain the knowledge and skills necessary to make informed decisions and optimize cost management strategies within their organizations.

Objectives:

• Understand the role and importance of cost accounting in organizational decision-making.

• Explore advanced cost accounting concepts, techniques, and tools.

• Apply advanced cost accounting methodologies to analyze and control costs.

• Enhance the ability to make informed managerial decisions based on cost information.

• Develop skills to optimize cost management strategies and improve organizational performance.

Methodology:

The training program will employ a combination of instructional methods to facilitate effective learning and practical application of advanced cost accounting principles. These methods include:

• Interactive Lectures: Engaging presentations by expert instructors will cover key concepts, theories, and practical examples related to advanced cost accounting.

• Case Studies: Participants will analyze real-world case studies to gain insights into applying advanced cost accounting techniques and making strategic cost management decisions.

• Group Discussions: Collaborative discussions will be encouraged to foster the exchange of ideas, experiences, and best practices among participants.

• Hands-on Exercises: Practical exercises and simulations will allow participants to apply advanced cost accounting tools and methodologies in a controlled environment.

• Q&A Sessions: Regular question and answer sessions will provide opportunities for participants to clarify doubts and seek further explanations on complex topics.

Target Audience:

The Advanced Cost Accounting training program is designed for professionals who have a solid understanding of basic cost accounting principles and want to enhance their expertise in this field. The target audience includes:

• Accounting Managers and Supervisors

• Financial Controllers

• Cost Accountants

• Budget Analysts

• Management Accountants

• Business Analysts

• Operations Managers

• Finance Professionals seeking advanced cost accounting knowledge

Outlines:

Day 1:

Cost Accounting Framework and Concepts

• Introduction to Advanced Cost Accounting

• Cost Terminology and Classification

• Costing Systems: Job Order Costing vs. Process Costing

• Activity-Based Costing (ABC) and its Applications

• Cost Behavior Analysis: Fixed, Variable, and Mixed Costs

Day 2:

Cost Estimation and Allocation Techniques

• Cost-Volume-Profit (CVP) Analysis

• Cost Estimation Methods: High-Low, Regression Analysis, and Scattergraph

• Overhead Allocation Methods: Traditional and Activity-Based Costing

• Cost Allocation for Joint Products and By-Products

Day 3:

Cost Analysis and Decision Making

• Relevant Cost Analysis for Decision Making

• Cost-Volume-Profit (CVP) Analysis for Decision Making

• Make or Buy Decisions

• Special Order Decisions

• Product Mix Decisions and Constraints

Day 4:

Performance Measurement and Control

• Standard Costing and Variance Analysis

• Balanced Scorecard and Performance Measurement

• Responsibility Accounting and Performance Evaluation

• Transfer Pricing Methods

• Cost of Quality and Quality Management

Day 5:

Strategic Cost Management and Contemporary Topics

• Strategic Cost Management: Value Chain Analysis and Competitive Advantage

• Target Costing and Life Cycle Costing

• Activity-Based Management (ABM)

• Lean Accounting and Just-in-Time (JIT) Costing

• Environmental and Sustainability Cost Management