Product Costing

Course Objectives

• An understanding of and ability to calculate and apply the costing techniques detailed below under Core Topics
• Understanding of the interrelationship of these costing techniques with other business functions (e.g. marketing, human resource management, strategy) and their role in real organisations.
• Problem-framing and analytical skills, information seeking and retrieval skills, problem-solving skills. More specifically you will be able to:
  o Critically evaluate a previously unseen organisational situation for its cost and
  management accounting issues.
  o Formulate clear ideas about the problems and issues involved, and about any likely
  further information and knowledge that might be required to deal with the issues
  identified.
  o Gather the necessary information and knowledge and re-formulate an understanding of the issues.
  o Apply any necessary analysis and understanding to formulate alternatives to resolve the identified issues. Be aware of the strengths and weaknesses of various alternative courses of action.
  o Recommend a set of actions to resolve the issues.
• More independence and self-direction in your approaches to learning.
• An improvement in teamwork skills.

Target Audience

Chief Financial Officers, Financial Controllers, Finance Managers, Accountants,

Methodology

Chief Financial Officers, Financial Controllers, Finance Managers, Accountants,

Course Modules

• Module 1: AN INTRODUCTION TO COST TERMS AND PURPOSES
• Module 2: JOB COSTING
• Module 3: PROCESS COSTING
• Module 4: COST-VOLUME-PROFIT ANALYSIS
• Module 5: COST ALLOCATION: JOINT PRODUCTS AND BYPRODUCTS
• Module 6: STANDARD COST SYSTEMS
• Module 7: COST MANAGEMENT SYSTEMS AND ACTIVITY-BASED COSTING