Fundamentals
Target audience
- Management Accountants
- Finance Managers
2 day
New training
Training – The Basics of Cost Accounting
Prerequisites
No prior knowledge is required.
Objectives
◗ Use various techniques for calculating and analyzing costs and margins.
◗ Choose the cost-tracking method that best suits your business, from direct costing to Activity-Based Costing (ABC).
◗ Define the relationships between general accounting and cost accounting.
◗ Integrate cost accounting techniques and tools to improve your management system.
◗ Implement cost accounting at the level of an operational or functional department.
Training program
◗ Characteristics of Cost Accounting
– General Accounting and the Chart of Accounts
– The Objectives of Cost Accounting for Performance Management
– The Existence of Cost Centers
– Specific Characteristics of Costs by Project and by Product
◗ Identify and define the types of costs
– Distinguishing Between Fixed and Variable Costs
– Identifying Direct and Indirect Costs
– Why and How to Set Standard Costs for Budget Optimization
✔ APPLY | Case Study: Comparative Cost Analysis in the Manufacturing and Service Sectors
◗ Advanced Costing Techniques: Direct Costing and Partial Costs
– Direct costing and the partial costing method to optimize profitability
– Determining the break-even point
✔ APPLY | Practical example: Calculating the break-even point and marginal profit in specific situations
◗ Choose a cost-tracking system
– Understanding the specifics of the business and its challenges
– Selecting the appropriate allocation bases
– The analysis center method for optimized allocation of indirect costs
– Rational allocation of fixed costs: a more accurate view of performance
✔ APPLY | Group work: Create a cost tracking system by analytical account, cost center, and project
◗ Full-Cost Method and Variance Analysis
– Full-cost accounting for a more comprehensive analysis of profitability by product, service, and activity
– Calculation of profitability by product and distribution channel
– Analysis of variances in fixed and variable costs to identify opportunities for optimization
◗ Activity-Based Costing (ABC)
– ABC Principles and Identification of Key Activities to Analyze
– Determining Cost Drivers and Calculating ABC Costs
✔ APPLY | Case Study: Analysis and Calculation of Cost Drivers for a Practical Application of ABC
◗ Implementation of an action plan for analytical monitoring
– Develop a plan
– Track monthly results
– Analyze variances to refine forecasts
– Introduction to IFRS standards and CSR (Corporate Social Responsibility) reporting
✔ APPLY | Case study: Publish reports; calculate, analyze, and interpret variances by cost center
Why choose this course?
Analyzing and measuring the company’s performance and profitability, by business unit or by product, is one of the key objectives of cost accounting.
This training course helps participants learn how to apply these methods, calculate partial, full, or standard costs, and gain an introduction to the ABC method.
Teaching and assessment methods
Before the training: Submit your expectations via your online portal 15 days before the training begins and complete a self-assessment of your skills.
Teaching Methods: A variety of teaching methods to cater to different learning styles, encourage active participation, and reinforce learning through experimentation and practice.
Educational materials: presentation materials, reference materials (summary sheets, tables, etc.), and other resources available in your account.
During the training: theoretical concepts are alternated with examples drawn from real-life cases. Participants are given the opportunity to engage in role-playing exercises. Numerous practical exercises allow participants to demonstrate their mastery of the skills as the training progresses.
Training monitoring and evaluation: attendance sheet and certificate of completion. Immediate and post-training evaluations conducted using the LearnEval platform.
Price
€1,720 (excluding tax)