Module 1: Introduction to Cost Accounting and Concepts

·       Definition and Objectives of Cost Accounting

·       Differences between Financial and Cost Accounting

·       Classification of Costs: Direct vs. Indirect, Fixed vs. Variable, Product vs. Period

·       Cost Accounting Systems and Their Applications

·       Practical session: Identifying and classifying different types of costs in a business scenario

Module 2: Cost Behavior Analysis

·       Understanding Fixed Costs, Variable Costs, and Mixed Costs

·       Methods of Separating Mixed Costs (High-Low, Scattergraph)

·       Cost-Volume-Profit (CVP) Analysis: Break-Even Point, Margin of Safety

·       Applications of CVP Analysis in Decision Making

·       Practical session: Calculating the break-even point and analyzing the impact of changes in cost and volume

Module 3: Job Order Costing

·       Characteristics of Job Order Costing

·       Flow of Costs in a Job Order Costing System

·       Recording Direct Materials, Direct Labor, and Manufacturing Overhead

·       Application of Overhead to Jobs

·       Practical session: Preparing a job cost sheet for a specific production order

Module 4: Process Costing

·       Characteristics of Process Costing

·       Flow of Costs in a Process Costing System

·       Equivalent Units of Production: Weighted-Average and FIFO Methods

·       Cost per Equivalent Unit Calculation

·       Practical session: Calculating equivalent units and cost per equivalent unit in a multi-process environment

Module 5: Activity-Based Costing (ABC)

·       Limitations of Traditional Costing Systems

·       Principles of Activity-Based Costing

·       Identifying Activities, Cost Drivers, and Cost Pools

·       Allocating Overhead Costs Using ABC

·       Practical session: Implementing ABC to allocate overhead costs in a service industry

Module 6: Standard Costing and Variance Analysis

·       Setting Standard Costs for Materials, Labor, and Overhead

·       Calculating Direct Material Variances (Price and Quantity)

·       Calculating Direct Labor Variances (Rate and Efficiency)

·       Calculating Manufacturing Overhead Variances (Spending and Efficiency)

·       Practical session: Analyzing and interpreting various cost variances

Module 7: Budgeting and Budgetary Control

·       Importance of Budgeting and Types of Budgets

·       Preparing the Master Budget (Operating and Financial Budgets)

·       Flexible Budgets vs. Static Budgets

·       Performance Reporting and Variance Analysis

·       Practical session: Preparing a sales budget and a production budget

Module 8: Cost Control and Performance Measurement

·       Responsibility Accounting and Responsibility Centers

·       Controllable vs. Non-Controllable Costs

·       Performance Evaluation Using Financial and Non-Financial Measures

·       Balanced Scorecard Approach

·       Practical session: Evaluating the performance of different responsibility centers using key performance indicators

Module 9: Relevant Costs for Decision Making

·       Identifying Relevant Costs and Irrelevant Costs

·       Decision-Making Scenarios: Make or Buy, Special Orders, Discontinuing a Product Line

·       Joint Product and By-Product Costing

·       Pricing Decisions and Cost Considerations

·       Practical session: Analyzing a special order decision using relevant cost analysis

Module 10: Advanced Topics in Cost Accounting

·       Throughput Accounting

·       Target Costing

·       Life-Cycle Costing

·       Environmental Cost Accounting

·       Practical session: Applying target costing principles to a new product development

Requirements:

·       Participants should be reasonably proficient in English.

·       Applicants must live up to Armstrong Global Institute admission criteria.

Terms and Conditions

1. Discounts: Organizations sponsoring Four Participants will have the 5th attend Free

2. What is catered for by the Course Fees: Fees cater for all requirements for the training – Learning materials, Lunches, Teas, Snacks and Certification. All participants will additionally cater for their travel and accommodation expenses, visa application, insurance, and other personal expenses.

3. Certificate Awarded: Participants are awarded Certificates of Participation at the end of the training.

4. The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.

5. Approval of Course: Our Programs are NITA Approved. Participating organizations can therefore claim reimbursement on fees paid in accordance with NITA Rules.

Booking for Training

Simply send an email to the Training Officer on training@armstrongglobalinstitute.com and we will send you a registration form. We advise you to book early to avoid missing a seat to this training.

Or call us on +254720272325 / +254725012095 / +254724452588

Payment Options

We provide 3 payment options, choose one for your convenience, and kindly make payments at least 5 days before the Training start date to reserve your seat:

1. Groups of 5 People and Above – Cheque Payments to: Armstrong Global Training & Development Center Limited should be paid in advance, 5 days to the training.

2. Invoice: We can send a bill directly to you or your company.

3. Deposit directly into Bank Account (Account details provided upon request)

Cancellation Policy

1. Payment for all courses includes a registration fee, which is non-refundable, and equals 15% of the total sum of the course fee.

2. Participants may cancel attendance 14 days or more prior to the training commencement date.

3. No refunds will be made 14 days or less before the training commencement date. However, participants who are unable to attend may opt to attend a similar training course at a later date or send a substitute participant provided the participation criteria have been met.

Tailor Made Courses

This training course can also be customized for your institution upon request for a minimum of 5 participants. You can have it conducted at our Training Centre or at a convenient location. For further inquiries, please contact us on Tel: +254720272325 / +254725012095 / +254724452588 or Email training@armstrongglobalinstitute.com

Accommodation and Airport Transfer

Accommodation and Airport Transfer is arranged upon request and at extra cost. For reservations contact the Training Officer on Email: training@armstrongglobalinstitute.com or on Tel: +254720272325 / +254725012095 / +254724452588