Cost Accounting

Fundamentals of Cost Accounting - Including Practice Exercises

Course Overview

Costing is one of the most important and fundamental knowledge area in any business.  The ultimate objective of any business is supposed to be profit and certainly profit is a function of cost.  The success of a business does not solely depend on its revenue but also more importantly on how a business manages its costs. 

Businesses fail not due to lack of revenues but due to uncontrolled costs.  In order to control the business costs it is important to first understand the costs.  Costs lie within products, processes, systems, departments and activities.

What is Included ?

- Types of Costs – Cost Classification
- Cost Behavior
- Material Costs
- Case Study
- Labor Costs
- Costing for Overheads – Absorption Costing
- Case Study
- Marginal Costing
- Job, Batch and Service Costing
- Process Costing
- Case Study
- Costing for Joint and By Products
- Case Study
- Alternative Costing Techniques
- Activity Based Costing – ABC
- Case Study
- Target Costing
- Throughput Accounting
- Case Study
- Life Cycle Costing

About the Instructor

A qualified accounting and finance professional with over twenty years of extensive experience in diversified industry sectors such as auditing, large scale manufacturing and oil and gas.

Like most accounting and finance professionals, I started my career as finance executive and then over the years rose to the position of CFO in a multinational company in oil and gas industry.

I have also worked as a consultant with the World Bank and European Union on different projects in Middle East, Eastern Europe and CIS countries during 2011 to 2018 as a principal consultant for IFRS and Financial Management.

I am qualified professional with three professional qualifications MBA, ACCA and CIMA UK. I have been teaching IFRS, Financial Reporting, Financial Management and Performance Management for over fifteen years and my focus areas are ACCA and CIMA qualifications.