Starts with general understanding of management accounting.
1. Management Accounting (MA)
• Perspective of MA
• Financial Accounting(FA) vs MA
• Decision making process
• Functions of MA
2. Cost Terms and Concepts
• Cost objects
• Direct and indirect costs
• Period and product costs
• Relevant and irrelevant costs and revenues
• Avoidable and unavoidable costs
• Sunk costs
• Opportunity costs
• Incremental and marginal costs
B. BECOME COMPETENT
The content provides with in-depth knowledge of the topic.
3. Cost Allocation Models
• Type of models
• Model selections
• Develop cost allocation model
C. STAY CURRENT
Able to build cost model based on business model discussed.
4. Cost Accumulation Systems
• Type of systems.
• Traditional Costing (TC) vs Activity Based Costing (ABC)
• Advantage of ABC against TC
• Design cost system based on ABC
• Develop the cost system designed
? Part I – From Resources to Activities
? Part II – From Activities to Cost Objects
• Method of Pricing
? Cost-Oriented Method
? Market-Oriented Method
D. EXPAND YOUR SKILLS
Able to apply other management tools to support decision making process.
5. Cost Management Tools
• Value-chain analysis
• Business process improvement
• Value added and non-value added matrix
• Capacity management planning
• Performance Measurement
• Constraint considerations
• Pointer for effective implementation
Participants will undertake and will be guided towards business excellence applying a cost management journey methodology starts with fundamental of management accounting until the destination of able to apply the cost management concepts and tools as decision making support process.
The journey is compressed in 2-day workshop, however should be suffice for participants to understand the concepts and principles and practically used them for day to day operation and strategic management decision making process.
In ensuring participants able to understand and apply cost management concepts and principles in their workplace, the workshop will be conducted more on practical environment by case studies and excel templates. Later participants will able use the templates at their workplace.
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