Essentials of Cost Accounting Training

Available Dates

Dec-23-2024

London
Jan-06-2025

London
Feb-03-2025

London
Mar-03-2025

London
Apr-07-2025

London
May-05-2025

London
June-02-2025

London
June-30-2025

London
July-07-2025

London
Aug-04-2025

London
Sep-01-2025

London
Sep-29-2025

London
Oct-06-2025

London
Nov-03-2025

London
Dec-01-2025

London
Dec-29-2025

London

Dates in Other Venues

Dec-09-2024

Kuala Lumpur
Dec-09-2024

Istanbul
Dec-16-2024

Paris
Dec-16-2024

Singapore
Dec-23-2024

Dubai
Dec-30-2024

Barcelona
Dec-30-2024

Amsterdam
Jan-06-2025

Amsterdam
Jan-13-2025

Dubai
Jan-13-2025

Barcelona
Jan-20-2025

Istanbul
Jan-20-2025

Kuala Lumpur
Jan-27-2025

Singapore
Jan-27-2025

Paris
Feb-03-2025

Amsterdam
Feb-10-2025

Dubai
Feb-10-2025

Barcelona
Feb-17-2025

Kuala Lumpur
Feb-17-2025

Istanbul
Feb-24-2025

Singapore
Feb-24-2025

Paris
Mar-03-2025

Amsterdam
Mar-10-2025

Dubai
Mar-10-2025

Barcelona
Mar-17-2025

Istanbul
Mar-17-2025

Kuala Lumpur
Mar-24-2025

Paris
Mar-24-2025

Singapore
Apr-07-2025

Amsterdam
Apr-14-2025

Barcelona
Apr-14-2025

Dubai
Apr-21-2025

Istanbul
Apr-21-2025

Kuala Lumpur
Apr-28-2025

Singapore
Apr-28-2025

Paris
May-05-2025

Amsterdam
May-12-2025

Dubai
May-12-2025

Barcelona
May-19-2025

Istanbul
May-19-2025

Kuala Lumpur
May-26-2025

Singapore
May-26-2025

Paris
June-02-2025

Amsterdam
June-09-2025

Barcelona
June-09-2025

Dubai
June-16-2025

Istanbul
June-16-2025

Kuala Lumpur
June-23-2025

Paris
June-30-2025

Amsterdam
June-30-2025

Singapore
July-07-2025

Amsterdam
July-14-2025

Dubai
July-14-2025

Barcelona
July-21-2025

Kuala Lumpur
July-21-2025

Istanbul
July-28-2025

Singapore
July-28-2025

Paris
Aug-04-2025

Amsterdam
Aug-11-2025

Barcelona
Aug-11-2025

Dubai
Aug-18-2025

Istanbul
Aug-18-2025

Kuala Lumpur
Aug-25-2025

Singapore
Aug-25-2025

Paris
Sep-01-2025

Amsterdam
Sep-08-2025

Barcelona
Sep-08-2025

Dubai
Sep-15-2025

Kuala Lumpur
Sep-15-2025

Istanbul
Sep-22-2025

Paris
Sep-29-2025

Singapore
Sep-29-2025

Amsterdam
Oct-06-2025

Amsterdam
Oct-13-2025

Barcelona
Oct-13-2025

Dubai
Oct-20-2025

Kuala Lumpur
Oct-20-2025

Istanbul
Oct-27-2025

Paris
Oct-27-2025

Singapore
Nov-03-2025

Amsterdam
Nov-10-2025

Barcelona
Nov-10-2025

Dubai
Nov-17-2025

Istanbul
Nov-17-2025

Kuala Lumpur
Nov-24-2025

Singapore
Nov-24-2025

Paris
Dec-01-2025

Amsterdam
Dec-08-2025

Barcelona
Dec-08-2025

Dubai
Dec-15-2025

Istanbul
Dec-15-2025

Kuala Lumpur
Dec-22-2025

Paris
Dec-29-2025

Singapore
Dec-29-2025

Amsterdam

Course Details

The main purpose of cost accounting is to determine the manufacturing cost of each product of the company. The cost of the proudct is then used in determination of optimum selling price Cost accounting is helpful because it can identify where a company is spending its money, how much it earns, and where money is being lost. Cost accounting aims to report, analyse, and lead to the improvement of internal cost controls and efficiency.

Cost accountants are a critical part of a business's trajectory. Accounting careers and business management are solid choices that put you at the forefront of an organization's potential success. Understanding the types of cost accounting helps you make better decisions and lead your business in the right direction.

The Program covers cost accounting methods for manufacturing, services, private, governmental, not-for-profit and trading organisations, with many examples which clearly illustrate and explain the relevant techniques and concepts in a clear easy-to-follow way; it explains how to understand, deal with, and allocate different costs in order to make sensible and helpful business and operational decisions; it also shows how costing complements management and financial accounting.

At the end of the Essentials of Cost Accounting trining course , you will be able to :

Describe the Fundamental Concepts of Cost Accounting
Apply Cost Accounting Methods to Identify Profitable Products and Services
Analyze Reports to Make Sound Pricing Decisions
Compare Cost Accumulation Systems and Choose the Right One for Your Company
Evaluate Results Against Budgets with Greater Accuracy
Use Cost Accounting Methods to Optimize the Use of People, Resources, and Materials

Essentials of Cost Accounting Training course, is designed to help manufacturing managers succeed. If you are responsible for the proper costing of inventory and for assessing manufactured product profitability, this is your Course.

Our courses in London are held at the LPC office located at:

LPC Oxford Street Offices: 25 N Row, London W1K 6DJ

London Head Office: 47 - 49 Park Royal Road, London NW10 7LQ

Once you register, we will subsequently send you the course details, including the location, trainer, and other logistical information.

Pay Attention, Please! The course location at our offices is subject to availability. Should our office be unavailable, we will secure an alternative nearby venue and promptly inform you of the change. The exact time and location will be confirmed one week prior to the course commencement.

Course Outline

5 days course

Day 1

Day 2

Day 3

Day 4

Day 5

Introduction to Cost Accounting

The meaning, purpose and scope of Cost Accounting
Cost Accounting and Business Decisions
Cost Accounting Differentiated from Management Accounting and Financial Accounting
Cost ascertainment, control, reduction

Cost Accounting Terminology

Direct and Indirect Costs: Labour, Materials, Expenses
Classification of Costs
Costs Centres and Cost Units
Introduction to Overheads

Cost Behaviour

Importance of Cost Behaviour
Defining Fixed and Variable Costs
Prediction of Cost Behaviour
Analysis of Cost Behaviour

Accounting for Labour Costs

Remuneration Methods:
Labour and Total Costs
Capture of Labour Data Costs
Direct/Indirect Labour Costs

Material Costs

Importance of Material Costs
Pricing methods: FIFO, LIFO , AVCO, Replacement, Standard Cost
Stock Valuation
Just-in-time

Absorption Costing

Definition, Rationale and Importance of Absorption Costing
Overheads and Allocation
Absorption Rates
Cost Units and Cost Centres, Service and Production Departments

Activity Based Costing

Importance, definition and framework of ABC
Short-term and Long-term Variable Overhead Costs
Advanced Manufacturing Technology (AMT)
Cost Drivers and Rates

Marginal Costing

Contribution, Overheads and Sales Ratios
Revenue Statements in Marginal Cost Format
Break-even (CVP) Analysis and Charts
Safety Margin and Profit Volume Charts

Marginal Costing Short-term Decision Making

Short-run Decisions: Make or Buy, Single Orders, Shortages, Choices
Determining Principle Factors
Opportunity Costs
Limitations of Marginal Costing in Short-term Decision Making

Planning and Budgeting

Budgetary Process, Organisational Framework, Budget Committees
Interrelationships of Budgets, Integrated budgets
Budgeting, Uncertainty, Sources of Budgetary Data
Rolling Budgets, Zero-based Budgeting, Activity-based Budgeting

Standard Costing and Variance Analysis

Definition of Standard Costs
Meaning of Variance Analysis
Variance Elements and Calculation:
Variance Investigation: Favourable, Adverse, Causes

Capital Investment Appraisal

Importance and Purpose of Capital Investment Appraisal
Techniques of Appraisal: ARR, IRR, NPV, payback
Discounted Cash Flow
Risk and Uncertainty

Essentials of Cost Accounting Training

Course Info

Course Details

At the end of the Essentials of Cost Accounting trining course , you will be able to :

Course Outline

Introduction to Cost Accounting

Cost Accounting Terminology

Cost Behaviour

Accounting for Labour Costs

Material Costs

Absorption Costing

Activity Based Costing

Marginal Costing

Marginal Costing Short-term Decision Making

Planning and Budgeting

Standard Costing and Variance Analysis

Capital Investment Appraisal

Course Video

Essentials of Cost Accounting Training

Course Info

Course Details

At the end of the Essentials of Cost Accounting trining course , you will be able to :

Course Outline

Introduction to Cost Accounting

Cost Accounting Terminology

Cost Behaviour

Accounting for Labour Costs

Material Costs

Absorption Costing

Activity Based Costing

Marginal Costing

Marginal Costing Short-term Decision Making

Planning and Budgeting

Standard Costing and Variance Analysis

Capital Investment Appraisal

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Course Video