Accounting, Costing and Budget Management Control

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United Arab Emirates

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This Course is Designed For:

  • Chartered Accountants;
  • Certified Accountants;
  • Licensed Accountants;
  • Cost Accountants;
  • Management Accountants;
  • Organisational Decision-makers;
  • Inventory Managers;
  • Quality Managers;
  • Pricing Specialists;
  • Balanced Scorecard Specialists;
  • Senior Managers;
  • Product Managers;
  • Operational Directors;
  • Profit Centre Managers;
  • Budget Specialists;
  • Strategic Managers.

Duration: 15 Days

Module 1

The Internal Accountant’s Role in an Organisation, Cost Terms and Purposes, Leading to Diploma – Postgraduate in Internal Accounting, Cost Terms and Purposes

M1. Part 1 – The Accountant’s Role in an Organisation

  • Accounting Discipline Overview;
  • Financial vs. Managerial Accounting;
  • Strategy and Management Accounting;
  • Management Accounting and Value;
  • The Value Chain Illustrated;
  • A Value Change Implementation;
  • Key Success Factors;
  • Planning and Control System;
  • A Five-Step Decision Making Process in Planning and Control;
  • Management Accounting Outlines;
  • A Typical Organisational Structure and the Management Accountant;
  • Professional Ethics.

M1. Part 2 – Cost Terms and Purposes

  • Basic Cost Terminology;
  • Cost Objects Example at BMW;
  • Direct and Indirect Cost;
  • BMW: Assigning Costs to a Cost Object;
  • Cost Examples;
  • Factors Affecting Direct/Indirect Cost Classification;
  • Cost Behaviour;
  • Cost Behaviour Summarised;
  • Cost Behaviour Visualised;
  • Other Cost Concepts;
  • Relevant Range Visualised;
  • A Cost Caveat;
  • Multiple Classifications of Costs;
  • Different Types of Firms;
  • Types of Manufacturing Inventories;
  • Types of Product Cost;
  • Accounting vs. Cost;
  • Cost Flows;
  • Cost Flows Visualized;
  • Multiple - Step Income Statement;
  • Cost of Goods Manufactured;
  • Other Cost Considerations;
  • Different Definitions of Costs for Different Applications;
  • The Common Features of Cost Accounting and Cost Management.

Module 2

Cost-Volume-Profit (CVP) Analysis and Job Costing, Leading to Diploma – Postgraduate in Cost-Volume-Profit (CVP) Analysis and Job Costing

M2. Part 1 – Cost-Volume-Profit (CVP) Analysis

  • A Five-Step Decision-Making Process in Planning and Control Revisited;
  • Foundational Assumptions in CVP;
  • Basic Formulae;
  • CVP: Contribution Margin;
  • Cost–Volume–Profit Equation;
  • Breakeven Point;
  • Breakeven Point, extended: Profit Planning;
  • CVP: Graphically;
  • Profit Planning, Illustrated;
  • CVP and Income Taxes;
  • Sensitivity Analysis;
  • Margin of Safety;
  • Operating Leverage;
  • Effects of Sales-Mix on CVP;
  • Alternative Income Statement Formats.

M2. Part 2 – Job Costing

  • Costing Terminology;
  • Costing Systems;
  • Costing Systems Illustrated;
  • Costing Approaches;
  • Costing Approaches Summarized;
  • Seven-Step Job Costing;
  • Sample Job Cost Document;
  • Sample Job Cost Source Documents;
  • Job Costing Overview;
  • Journal Entries;
  • Flow of Costs Illustrated;
  • Illustrated General Ledger in a Job Cost Environment;
  • Accounting for Overhead;
  • Three Methods for Adjusting Over/Underapplied Overhead.

Module 3

Activity-Based Costing, Cost Management, Master Budgeting and Responsibility Accounting, Diploma – Postgraduate in Activity-Based Management and Responsibility Accounting

M3. Part 1 – Activity Based-Costing and Cost Management

  • Background;
  • Broad Averaging;
  • Over and Undercosting;
  • Cross-subsidization;
  • An Example: Plastim;
  • Plastim and ABC Illustrated;
  • Plastim and ABC Rate Calculation;
  • Plastim and ABC Product Costs;
  • Plastim: Simple and ABC Compared;
  • Conclusions;
  • A Cautionary Tale;
  • Rationale for Selecting a More Refined Costing System;
  • Cost Hierarchies;
  • ABC vs. Simple Costing Schemes;
  • Activity-Based Management.

M3. Part 2 – Master Budgeting and Responsibility Accounting

  • Budget Defined;
  • The Ongoing Budget Process;
  • Strategy, Planning, and Budgets, Illustrated;
  • Advantages of Budgets;
  • Components of Master Budgets;
  • Basic Operating Budget Steps;
  • Basic Financial Budget Steps;
  • Sample Master Budget, Illustrated;
  • Other Budgeting Issues;
  • Sensitivity Analysis;
  • Budgeting and the Organization: Responsibility Accounting;
  • Types of Responsibility Centres;
  • Budgets and Feedback;
  • Controllability;
  • Budgeting and Human Behaviour;
  • Budgetary Slack.

We offer very attractive discount for groups of 3 and more people, from the same organisation, taking the same course. This discount is between ten percent (10%) and thirty three percent (33%), depending on the group size. Even with these discounts, we can also deliver courses for groups in the country of your choice.

Please feel welcome to contact me, at any time. My e-mail addresses are: fria@hrodc.com; and fria.hrodc@outlook.com

My Direct telephone number is +442071935906

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