Outline:

After the training session, participants will be able to understand clearly-

•  Costing or Cost Accounting: It’s meaning, objects, etc;
• Business objectives; Employee’s role in fulfilling it;
• Pre-condition of learning suitable Cost accounting system;
• Cost Accounting cycles;
• Types of costing applicable for specific type of industry/business units;
•  Individual importance of Financial and Cost Accounting;
•  Importance of cost recording, classification and continuation of costing system;
•  Evidential difference between Financial and Cost Accounting;
•  Benefits of maintaining Costing/ Cost Accounting;
•  Establishing an effective Costing system;
•  Technical aspects of Costing department:
  1. Integrated accounting system
  2. Easier method of implementing Costing with less cost-involvement
• Cost classification Cost-Benefit Analysis;
• Absorption of General overheads;
• Cost budget and cost control;
• Cost analysis and budgetary control;
• Costing as a management tool of profit maximization in the competitive market;
• Impact of learning perfect Cost Accounting system on employee’s individual career and overall organization
• Limitations of Cost Accounting and remedial actions to be taken to trim down these drawbacks/limitations.

Who should attend?

• Junior & senior executives (up to managers);
• Enthusiastic people willing to develop careers;
• Industrialists, business professionals;
• Anyone interested in cost accounting.