Cost Accounting and Management Accounting

Costs are measured in units of nominal currency by convention. Cost accounting can be viewed as translating the supply chain (the series of events in the production process that, in concert, result in a product) into financial values.

SECTION I: COST ACCOUNTING

• Overview Of Cost Accounting
• Material Cost
• Employee Cost (Labour Cost)
• Overhead Cost
• Output Or Unit Costing (Cost Sheet)
• Job And Batch Costing
• Contract Costing
• Process Costing
• Joint Products And By-Products
• Operating Costing (Service Costing)
• Non-Integrated And Integrated Accounts
• Reconciliation Of Cost And Financial Accounts

SECTION II: MANAGEMENT ACCOUNTING

• Management Accounting - Nature And Scope
• Financial Statement Analysis
• Funds Flow Statement
• Cash Flow Statement
• Marginal (Variable) Costing And Cost-Volume-Profit Analysis
• Budgeting And Budgetary Control
• Standard Costing And Variance Analysis
• Strategic Decision Making
• Responsibility Accounting And Transfer Pricing
• Miscellaneous Topics

Objectives of cost and management accounting Concerned with Accumulating costs for stock valuation, Provision of financial information to assist managers in their decision-making and planning activities and Provision of financial information to help managers control activities under their responsibility.

Once the candidates have completed their training, they can take the exam required for certification.

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