Effective Costing Management Budgeting & Analysis

2017 Intake: 25 Jan  l  17 Mar  l  18 May  l  17 Jul  l  7 Sep  l  10 Nov

A company cannot plan unless it understands its costs. By understanding the various facets of the cost accounting process, managers and executives will be able to create an efficient cost analysis system to better control and measure an enterprise's business functions and bottom line.
 
This seminar is designed to discuss the main features of cost and management accounting and its applications in a business enterprise. It is essential for managers and executives of a firm to know how cost accounting information can be organized, so that quality decisions could be made.

PROGRAMME OBJECTIVES

1. To create an efficient cost analysis system
2. To better control and measure an enterprise’s business functions and bottom line

PROGRAMME OUTLINE

1.  OVERVIEW OF COST & MANAGEMENT ACCOUNTING
     - Differences between financial accounting and management accounting
     - Differences between marginal costing and absorption costing
     - Concepts of relevant costs; benefits of standard costing and budgetary control

2.  BUDGETING AND VARIANCE ANALYSIS
     - Interpretation, investigation, and limitations: Labour and materials

3.  COST VOLUME PROFIT (BREAK EVEN) ANALYSIS
     - Cost behaviour
     - Fixed costs
     - Variable costs
     - Semi-variable costs
     - Break even analysis
     - Contribution
     - Margin of safety

4.  SHORT TERM DECISION MAKING
     - Decision criteria, applications
       (a) acceptance of special contracts
       (b) most efficient use of scarce resources
       (c) make-or-buy decisions
       (d) closing or continuance of a section or product

5.  ACTIVITY BASED COSTING
     - Characteristics and applications of ABC with Case Examples

Note: Participants are required to bring calculators

DURATION
1 day (9.00am ~ 5.00pm)

COURSE FEE
SMF Members: $374.50*
Non-Members: $428.00*

*fees are inclusive of 7% GST

FURTHER ENQUIRIES
Telephone: 6826 3100
Fax: 6826 3113
Email: enquiry.ccl@smfederation.org.sg

Terms & Conditions

1. All notice of withdrawal must be given in writing before the issuance of letter of confirmation. Once confirmation letter is sent to participant, no cancellation will be allowed or penalty charges will apply.

If notice of withdrawal is received:

- At least 1 week before commencement of the course, a 20% of the full course fee will be charged. For government-funded course, a 20% of full course fee before funding will be charged.

- Less than 1 week before commencement of the course, a 30% of the full course fee will be charged. For government-funded course, a 30% of full course fee before funding will be charged.
- No show on the scheduled date, a full course fee will be levied. For government-funded course, a full course fee before funding will be charged.

2. For all government-funded programmes (WSQ & Non-WSQ), funding is only applicable to:
- Singapore Citizens or Singapore Permanent Residents
- Participants who have achieved at least 75% attendance and sat for all required assessments

Full course fee will be charged to participants who fail to meet the above-mentioned criteria.

3. When a course is cancelled, fail to commence or fail to complete under unforeseen circumstances, participant is allowed to defer the intake at no cost or withdraw from the course; under such situation, a full refund of the advance payment will be given.

4. Notice of change in participant’s name must be given in writing, not less than 5 days before the course commencement date.

5. SMF CCL reserves the right, at our sole discretion, to change, modify or otherwise alter these terms and conditions at any time. Such modifications shall become effective immediately upon the posting thereof.