Cost and Management Accounting

With proper cost accounting, organizations can evaluate all strategies within the business, break-even analysis, investment appraisals, level of production and the profitability of products.  It also improves the budgeting process and decision-making abilities, as financial decisions are driven by accurate cost estimation.Cost and Management Accounting provides an excellent opportunity for participants to acquire the necessary skills required to plan, manage, and monitor costs across the organization. Participants will also learn about the budget process and preparation of variance analysis for comparison with the actuals.  Working Capital controls and Capital expenditure will also be discussed to cover the entire Balance Sheet.

Program Objectives:

• Understand the fundamentals of Managerial Accounting and how it differs from Financial Accounting.
• Use of management reports for planning and monitoring purposes.
• Decide the level at which costs need to be captured.
• Analyse variances between Actual v/s Budgeted / Previous years’ figures for corrective actions.
• Optimize working capital and avoid unnecessary blockage of funds.
• Evaluate capital expenditure