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DURATION

Classroom
Hours
0
Virtual
Hours
0
Elearning
Hours
0

AVAILABLE MODE

Classroom

Y

Virtual

Y

Elearning

Y

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COST MANAGEMENT

Brief Overview

Cost Management rejects the notion that “Cost-happen” and embraces the perspective that all costs can and should be managed to meet organizational goals. “Cost Management” identifies & chooses among opportunities for improving organizational performance. Sometimes the focus is directly on managing costs through feedback to managers. Anticipating and managing the drivers of costs is even more effective. This approach to analyzing costs strives to manage costs by modeling the impact of managers’ decisions on cost drivers, cost & profits.

OBJECTIVES OF PROGRAM

  • Nature and Scope of Cost Accounting
  • Cost Concepts and Classification
  • Materials control, purchase, storage etc…
  • Labour Costs: Accounting and Control
  • Overhead costs – Classification of Overhead Costs, Importance of Classifying Costs into Fixed and Variable, Codification of Overheads etc …
  • Unit or Output Costing
  • Job and Batch Costing
  • Process Costing – Features of Process Costing, Difference between Job Costing and Process Costing, Costing Procedure under Process Costing, Preparation of Process Cost Accounts etc …
  • Reconciliation of Cost and Financial Accounts
  • Marginal Costing and Break-Even Analysis
  • Master Budget and responsibility Accounting, flexible Budgets
  • Standard Costing, Variance Analysis and Kaizen Costing

METHODOLOGY:

ILT,Interactive group processes, practicing all tools learnt

Who is the course for?

Non Finance Executives , Entrepreneurs , Department Heads , Employees aspiring to grow to highest position in the organisation , MBA Students