Advanced Costing Management – ACM

Advanced Costing Management - ACM 2

Advanced Costing Management - ACM

Advanced Costing Management - ACM 3

Summary about the Advanced Costing Management course

  • Providing the management with the required data and information for decision making
  • The advanced costing management allows the high management to have a better grasp on the factors of success
  • Providing the management with the required information from the resources of achieving the competitive advantages like cost, productivity, efficiency in comparison with the competitors and the prices that the institution may raise above the competitors’’ against the added values that makes it stand out in terms of costs.
  • Managing the strategic costs which is the cost management based on strategic issues like the strategies of costing, pricing, competitiveness. Therefore, cost management contributes to achieving the goals of the institution.

 

The practical application of the theoretical knowledge stands out in this course. There will be a practical application of the concepts learnt in the training on an industrial company, given that the costing accounting for industrial companies is the most difficult to manage. We achieve that through focusing on the cost accounting of the activities.

  • Financial Managers
  • Chief Accountants
  • Cost Accountants
  • Factories’ Managers
  • Department Supervisors
  • Quality Managers
  • Development Managers

ACM Objectives

  • Building the capacity of precisely determining the costs of items
  • Pricing the items in a manner that achieves the targeted profits
  • Determining the profit and safety margins and the break-even point on the levels of the unit, the department, the factory and the market.
  • Achieving efficiency and effectiveness in utilizing the available materials
  • Using the cost management to contribute with achieving the strategic goals
  • Achieving the competitive advantage through reducing the costs and increasing the competitiveness in pricing
  • Focusing on the high-profitable item

ACM Topics

  • Classifying product costs
  • Fixed, variable and mixed costs
  • Other costs and their classification
  • Introduction to costing systems
  • Cost of sold products and manufactured products
  • Calculating the absorption costing and calculating variable costs
  • Review the income statement under:
    • Absorption Costing
    • Variable Costing
  • Costing systems
    • Costs measurement methods
    • Cost collecting methods
    • Additional costs distribution methods
  • Cost collection system
    • Productive stages
    • Productive orders
    • Operating cost
  • Cost of Additional Burdens
    • Distribution of additional burdens
    • Calculating the absorption average of additional burdens
    • Determining the cost of each additional burden unit
    • Absorption of fixed additional burdens
    • Increasing the gap in the absorption of administrative costs
    • Traditional costs against accounting the costs of activities
  • Analyzing the costs and profits
    • Calculating contribution margin
    • Calculating the safety margin
    • Calculating the break-even point
    • Target sales to achieve certain profit.

Prerequisites

Degree in accounting, financial management, economics and any other related field.

Industrial engineering, chemical engineering, operation management, and quality management.

And others interested in learning about cost management.

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