This course teaches how to extract and modify costs in order to make informed managerial decisions. Planning is covered by topics including activity-based costing, budgeting, flexible budgeting, cost-volume-profit analysis, cost estimating, and the costs of outsourcing.
Control is covered by topics including standard costing, variance analysis, responsibility accounting, and performance evaluation. Emphasis is placed on cost terminology (the wide variety of costs), cost behavior, cost systems, and the limitations concerning the use of average costs
Learning Outcomes / Key Takeaways
In this course you will be able to:
- Describe different types of costs and how they are represented graphically.
- Conduct cost-volume-profit analysis to answer questions around breaking even and generating profit.
- Calculate and allocate overhead rates within both traditional and activity-based cost allocation systems.
- Distinguish costs and benefits that are relevant from those that are irrelevant for a given management decision.
- Determine a reasonable course of action, given the financial impact, for a given management decision.
This Course is suitable for C-Level Executives, Middle Level Managers, Senior Level Managers, Graduate Students and Entrepreneurs.
Module 1: Introduction to Managerial Accounting
- What is managerial accounting?
- How is job costing used to track production costs?
- How does an organization use activity-based costing to allocate overhead costs?
- How is process costing used to track production costs?
Module 2: Cost Measurement and Estimation
- How is the statement of cash flows prepared and used?
Module 3: Short-Term Decision Making
- How do managers use financial and nonfinancial performance measures?
- How do managers evaluate performance in decentralized organizations?
Module 4: Cost-Volume-Profit Analysis
- How is cost-volume-profit analysis used for decision making?
- How do managers evaluate performance using cost variance analysis?
Module 5: Budgeting
- How are operating budgets created?
- How is capital budgeting used to make decisions?
- How are relevant revenues and costs used to make decisions?
Each chapter focuses on clear objectives and skill demonstrations that can be easily linked to real life instances.
What does the course include:
- Course Notes
- Accelerated Adult Learning Techniques
- Certificate of Completion
- Manuals and Workbooks
Participants must have attended the sessions at least 80% in order to receive a CERTIFICATE from Bangkok School of Management.
BSM Facilitators are experienced practitioners with a robust mix of practical and academic expertise who teach the art and science of the subject.