📘 Cost and Management Accounting Course

Overview

📖 Course Description

This course provides an in-depth understanding of cost and management accounting concepts and techniques essential for effective decision-making, planning, and control. Participants will gain hands-on knowledge of cost behavior, cost allocation, standard costing, budgeting, variance analysis, performance measurement, and strategic cost management.

🎯 Learning Objectives

✅ Identify and apply different costing methods
✅ Allocate costs accurately for products and services
✅ Prepare and analyze budgets and cost reports
✅ Interpret variances and their impact on performance
✅ Support strategic decisions through cost analysis
✅ Develop performance measurement systems

👥 Who Should Attend

Management accountants
Financial analysts
Cost accountants
Finance managers
Business controllers
Professionals in planning, budgeting, or operations

🗂️ Training Format

✅ Instructor-led lectures
✅ Practical exercises
✅ Case studies
✅ Group discussions
✅ Interactive Q&A

📅 Day-by-Day Agenda with Time Breaks

📅 Day 1: Fundamentals of Cost Accounting

Time	Topic
08:30 – 09:00	Welcome & Introductions
09:00 – 10:30	Overview of Cost Accounting
10:30 – 10:45	☕ Coffee Break
10:45 – 12:15	Cost Terms, Classifications & Behavior
12:15 – 13:15	🍽 Lunch
13:15 – 14:45	Costing Systems: Job Order vs. Process
14:45 – 15:00	☕ Coffee Break
15:00 – 16:30	Practical Exercise: Classifying Costs

📅 Day 2: Cost Allocation & Absorption Costing

Time	Topic
08:30 – 10:00	Direct vs. Indirect Costs
10:00 – 10:15	☕ Coffee Break
10:15 – 12:15	Overhead Allocation & Absorption Costing
12:15 – 13:15	🍽 Lunch
13:15 – 14:45	Activity-Based Costing (ABC)
14:45 – 15:00	☕ Coffee Break
15:00 – 16:30	ABC Practical Exercise

📅 Day 3: Budgeting & Standard Costing

Time	Topic
08:30 – 10:00	Types of Budgets & Budgeting Process
10:00 – 10:15	☕ Coffee Break
10:15 – 12:15	Flexible vs. Fixed Budgets
12:15 – 13:15	🍽 Lunch
13:15 – 14:45	Standard Costing: Setting & Analysis
14:45 – 15:00	☕ Coffee Break
15:00 – 16:30	Practical Budgeting Workshop

📅 Day 4: Variance Analysis & Performance Management

Time	Topic
08:30 – 10:00	Material, Labor & Overhead Variances
10:00 – 10:15	☕ Coffee Break
10:15 – 12:15	Interpreting Variances
12:15 – 13:15	🍽 Lunch
13:15 – 14:45	Performance Measurement Systems
14:45 – 15:00	☕ Coffee Break
15:00 – 16:30	Balanced Scorecard & KPIs

📅 Day 5: Strategic Cost Management & Decision Making

Time	Topic
08:30 – 10:00	Cost-Volume-Profit (CVP) Analysis
10:00 – 10:15	☕ Coffee Break
10:15 – 12:15	Relevant Costs for Decision Making
12:15 – 13:15	🍽 Lunch
13:15 – 14:45	Target Costing & Life Cycle Costing
14:45 – 15:00	☕ Coffee Break
15:00 – 16:30	Capstone Case Study: Strategic Cost Analysis

📦 Materials Provided

✅ Course workbook & templates
✅ Budgeting and variance analysis tools
✅ Case study materials
✅ Certificate of Completion

Target audiences

Reservoir Engineers, Geologists

$ 5,800