This Course is Designed For:

 Chartered Accountants;
 Certified Accountants;
 Licensed Accountants;
 Cost Accountants;
 Management Accountants;
 Organisational Decision-makers;
 Inventory Managers;
 Quality Managers;
 Pricing Specialists;
 Balanced Scorecard Specialists;
 Senior Managers;
 Product Managers;
 Operational Directors;
 Profit Centre Managers;
 Budget Specialists;
 Strategic Managers.

Duration: 15 Days

Module 1
The Internal Accountant’s Role in an Organisation, Cost Terms and Purposes, Leading to Diploma – Postgraduate in Internal Accounting, Cost Terms and Purposes

M1. Part 1 – The Accountant’s Role in an Organisation
 Accounting Discipline Overview;
 Financial vs. Managerial Accounting;
 Strategy and Management Accounting;
 Management Accounting and Value;
 The Value Chain Illustrated;
 A Value Change Implementation;
 Key Success Factors;
 Planning and Control System;
 A Five-Step Decision Making Process in Planning and Control;
 Management Accounting Outlines;
 A Typical Organisational Structure and the Management Accountant;
 Professional Ethics.

M1. Part 2 – Cost Terms and Purposes
 Basic Cost Terminology;
 Cost Objects Example at BMW;
 Direct and Indirect Cost;
 BMW: Assigning Costs to a Cost Object;
 Cost Examples;
 Factors Affecting Direct/Indirect Cost Classification;
 Cost Behaviour;
 Cost Behaviour Summarised;
 Cost Behaviour Visualised;
 Other Cost Concepts;
 Relevant Range Visualised;
 A Cost Caveat;
 Multiple Classifications of Costs;
 Different Types of Firms;
 Types of Manufacturing Inventories;
 Types of Product Cost;
 Accounting vs. Cost;
 Cost Flows;
 Cost Flows Visualized;
 Multiple – Step Income Statement;
 Cost of Goods Manufactured;
 Other Cost Considerations;
 Different Definitions of Costs for Different Applications;
 The Common Features of Cost Accounting and Cost Management.

Module 2
Cost-Volume-Profit (CVP) Analysis and Job Costing, Leading to Diploma – Postgraduate in Cost-Volume-Profit (CVP) Analysis and Job Costing

M2. Part 1 – Cost-Volume-Profit (CVP) Analysis
 A Five-Step Decision-Making Process in Planning and Control Revisited;
 Foundational Assumptions in CVP;
 Basic Formulae;
 CVP: Contribution Margin;
 Cost–Volume–Profit Equation;
 Breakeven Point;
 Breakeven Point, extended: Profit Planning;
 CVP: Graphically;
 Profit Planning, Illustrated;
 CVP and Income Taxes;
 Sensitivity Analysis;
 Margin of Safety;
 Operating Leverage;
 Effects of Sales-Mix on CVP;
 Alternative Income Statement Formats.

M2. Part 2 – Job Costing
 Costing Terminology;
 Costing Systems;
 Costing Systems Illustrated;
 Costing Approaches;
 Costing Approaches Summarized;
 Seven-Step Job Costing;
 Sample Job Cost Document;
 Sample Job Cost Source Documents;
 Job Costing Overview;
 Journal Entries;
 Flow of Costs Illustrated;
 Illustrated General Ledger in a Job Cost Environment;
 Accounting for Overhead;
 Three Methods for Adjusting Over/Underapplied Overhead.

Module 3
Activity-Based Costing, Cost Management, Master Budgeting and Responsibility Accounting, Diploma – Postgraduate in Activity-Based Management and Responsibility Accounting

M3. Part 1 – Activity Based-Costing and Cost Management
 Background;
 Broad Averaging;
 Over and Undercosting;
 Cross-subsidization;
 An Example: Plastim;
 Plastim and ABC Illustrated;
 Plastim and ABC Rate Calculation;
 Plastim and ABC Product Costs;
 Plastim: Simple and ABC Compared;
 Conclusions;
 A Cautionary Tale;
 Rationale for Selecting a More Refined Costing System;
 Cost Hierarchies;
 ABC vs. Simple Costing Schemes;
 Activity-Based Management.

M3. Part 2 – Master Budgeting and Responsibility Accounting
 Budget Defined;
 The Ongoing Budget Process;
 Strategy, Planning, and Budgets, Illustrated;
 Advantages of Budgets;
 Components of Master Budgets;
 Basic Operating Budget Steps;
 Basic Financial Budget Steps;
 Sample Master Budget, Illustrated;
 Other Budgeting Issues;
 Sensitivity Analysis;
 Budgeting and the Organization: Responsibility Accounting;
 Types of Responsibility Centres;
 Budgets and Feedback;
 Controllability;
 Budgeting and Human Behaviour;
 Budgetary Slack.

Please feel welcome to contact me, at any time. My e-mail addresses are: fria@hrodc.com; and fria.hrodc@outlook.com
My Direct telephone number is +442071935906