During this 1 day session, participants will be guided on the following :

1. Overview of Cost and Management Accounting
- Differences between financial accounting and management accounting
- Differences between marginal costing and absorption costing
- Concepts of relevant cost
- Benefits of standard costing and budgetary costing

2. Budgeting and Variance Analysis
- Interpretation, investigation and limitations; labour and materials

3. Cost Volume Profit (breakeven) Analysis
- Cost behaviour, fixed costs, variable costs, semi-variable costs, breakeven analysis, contribution, margin of safety

4. Short-term Decision Making
- Decision criteria, applications
- Acceptance of special contracts
- Make or buy decisions

Note : Participants are expected to perform calculations using their own calculators during this workshop

At the end of the workshop, participants would be able to :

• understand the various costs affecting cost accounting
• know how cost accounting information is organised
• create an efficient cost analysis system to make meaningful recommendations resulting in quality business decisions

“Trainer is jovial and he makes the subject matter relevant and interesting.” ----- Shu Ong, Managing Director

“Like the various exercises and real life examples that elaborate the concepts used.” ----- Low Phui Hiong, Group Finance & Admin Manager

This workshop is for managers and executives who are not working in accounting roles but need to understand how basic accounting works to apply cost accounting related techniques when making business decisions.