It blends financial theory with practical applications, helping participants control costs, price products accurately, and improve organizational efficiency through cost analysis.

By the end of this course, participants will be able to:

• Understand key cost accounting concepts and systems
• Apply cost classification and allocation techniques
• Analyze cost behavior and make cost-based decisions
• Prepare and use cost reports to support management
• Implement cost control and performance measurement tools

This course is ideal for:

• Accountants and financial analysts
• Cost controllers and budget officers
• Operations and production managers
• Project and program managers
• Business owners and management staff involved in pricing and profitability analysis

This interactive Training will be highly interactive, with opportunities to advance your opinions and ideas and will include:
• Lectures
• Workshop & Work Presentation
• Case Studies and Practical Exercise
• Videos and General Discussions

Day 1: Introduction to Cost Accounting

• Definition, objectives, and scope of cost accounting
• Differences between financial, cost, and managerial accounting
• Types of costs: direct vs. indirect, fixed vs. variable, product vs. period
• Cost centers and cost units
• Overview of cost accounting systems

Day 2: Costing Methods and Techniques

• Job order costing
• Process costing
• Activity-Based Costing (ABC)
• Standard costing and variance analysis
• Choosing the right costing method for your organization

Day 3: Cost Behavior and Cost-Volume-Profit Analysis

• Cost behavior: fixed, variable, and mixed costs
• Break-even analysis and contribution margin
• CVP analysis for decision-making
• Margin of safety and operating leverage
• Practical exercises and case studies

Day 4: Budgeting and Cost Control

• Preparing cost budgets (departmental, project, organizational)
• Flexible vs. fixed budgets
• Monitoring actual costs vs. budgeted costs
• Variance analysis and interpretation
• Tools for effective cost control

Day 5: Cost-Based Decision Making & Strategic Cost Management

• Make-or-buy decisions
• Pricing decisions using cost data
• Product line decisions and profitability analysis
• Target costing and life-cycle costing
• Final workshop: developing a cost management plan
• Course review, Q&A, and certification assessment (optional)

A RECTUS attendance certificate will be awarded to all participants who complete at least 80% of the total course duration.