Management Accounting and Activity Based Costing

Introduction:

This course is introduced to you by the International Academy of Human Resources Development (IAHRD). Our courses are specially designed to meet your needs, explained to you by experts with a long experience in the field. Gaining knowledge in ABC is extremely important for organizations to allocate direct and indirect costs to costs objects.. This enables public and private organizations to identify with accuracy where the different components of costs are being deployed which resultantly helps them develop strategies and plans to optimize costs, improve product and service prices, and identify high cost products, services, suppliers and customers. This course will provide you with techniques to help you improve the quality of the decision-making process.

Objectives:

After attending this course, participants will be able to:

1. Understand and implement Activity Based Costing in their organization.
2. Develop Activity Based Costing structures.
3. Manage costs and mapping of costs and activities to achieve cost optimization.
4. Use Activity Based Costing to improve decision-making.

Content:

Module 1:

1. What is Activity Based Costing
2. The importance of Activity Based Costing.
3. ABC vs. Traditional methods.
4. How can Activity Based Costing fulfill the needs of different industries?

Module 2:

1. ABC and operational decisions.
2. ABC and cost models measurements.
3. Effective approaches for cost evaluations.
4. Cost and activities that need to be structured.

Module 3:

1. Develop procedures for calculating and estimating costs
2. Structuring Activity Based Costing to exhibit the effect of varied levels of activity
3. Available resources and resource consuming activities.

Module 4:

1. Pros and cons of inclusion of indirect and back office costs
2. Non-value-added activities
3. Controlling costs using cost management tools.
4. Develop cost budget using Activity Based Costing

Module 5:

1. Integration of Activity Based Costing into your standard costing and accounting systems
2. Comparisons among various costing software
3. Case study and recommendations.

Who Should Attend?

1. All managers and departmental heads.
2. Professionals involved in managing accounts.
3. Personnel that are involved in providing products and services.
4. Interested candidates.