In a highly competitive corporate environment, more managers and business owners are seeking to streamline processes and optimise the use of resources. Those working in cost and management accounting roles are responsible for providing information that can guide economical decision-making, and play an important part in maximising profit by controlling financial wastage.
We introduce you to the core principles of this function and will cover a range of central concepts, such as job costing, process costing, absorption costing, and variable costing. You’ll discover how to use costings to make informed management decisions, and learn to perform a cost-volume-profit (CVP) or Break-even Point (BEP) analysis.
MAC 1A - Application of break-even analysis to make operation decisions
MAC 2B - Application of relevant costing techniques to make operating and business decisions
CAC 1A - Preparing product/service costing reports or quotations
CAC 1B - Maintaining and updating manufacturing accounts
CAC 1C - Determining and accounting for manufacturing losses
CAC 1D - Preparing manufacturing reports
CAC 2A - Maintain and update the manufacturing accounts for the product costs for joint and by-products
CAC 2B - Preparation of joint and by-product reports
CAC 3A - Preparing break-even analysis reports
CAC 3B - Preparing production schedules using break-even analysis
CAC 3C - Preparing break-even analysis sensitivity reports
CAC 3D - Using break-even analysis to make business decisions
By the end of this course, you will be able to:
- Describe different types of costs and how they are represented graphically
- Conduct cost-volume-profit analyses to answer questions around breaking even and generating profit
- Calculate and allocate overhead rates within both traditional and activity-based cost allocation systems
- Distinguish costs and benefits that are relevant from those that are irrelevant for a given management decision
- Determine a reasonable course of action, given the financial impact, for a given management decision
MAC 1A - Application of break-even analysis to make operation decisions
MAC 1B - Application of relevant costing techniques to make operating and business decisions
The course includes:
5 Individual modules (video lessons)
Course material
Simulation Case Study File for Formal Assessment
2 Online Assessments
Formal Assessment prepared by Accredited Assessor
This course is designed for finance and accounting professionals like SAIPA Logbook Trainees looking to refresh their knowledge and gain specific skills in the field of cost and management accounting. It’s also for those who want to improve their ability to make sound decisions based on financial insights, and business owners and entrepreneurs who need knowledge of costing techniques and systems.
