[Online 2-Day] Understanding Cost, Costing and Activities
Course Information
  • 14-Sep-2020
  • Online
  • Winson Han
  • English
  • RM 480 RM 380
    Until 16 Aug 2020
  • 9:00am - 5:00pm
[01] INTRODUCTION

A company is profitable when its revenue exceeds its overall cost of its operations. Costs are economic resources used in production and sales of goods (or
service) and in the operations. Company must know how a cost is determined whether it is material, labour or overheads. Any cost that is “wrongly” calculated will have serious and adverse impact on the profitability. So, it is impertinent that managers must acquire an understanding of cost concepts and classification, and the various apportionment and allocation methodologies that can be used in costing and pricing decision or in determining the profitability of its product, outlets, branches or that of the entire company.

This 1-day program will provide the participant with an understanding and knowledge of cost concepts, methodologies and the skill to undertake analysis in the various areas of decision makings through the use of case studies.


[02] COURSE OBJECTIVES

By the end of this program, participants will be able to: -
• Know the importance of cost and costing in decision making and achieving overall business goals.
• Understand cost concepts and behaviors; and impacts on costing and pricing of products.
• Know the difference between absorption and marginal costing methodologies.
• Use the CVP model and Break-even analysis to understand the contribution approach to overheads recovery; and to determine profit margin
• Understand the impact of activities on costs and what drive costs in an organization
• Use Activities Based Costing (ABC) to set the right price, sell the right product or service, serve the right markets and customers, to reduce costs rather than to cut costs and the right outsourcing decision.
• Learn to use the right costing methodology for each decision making be it short, medium or long term.

[03] TARGETED AUDIENCE

• Operational managers and executives
• Accounts Managers and Executives
• Accountants and Finance Manager
• Directors, business owners and professionals
• Anyone who has a responsibility for profitability.

[04] DATE, TIME, FEE

Date : 14-15 September 2020 (Mon - Tue)
Time : 1.00pm - 5.00pm
Mode : Online / Webinar

FEE
- Early Bird (before 16 Aug 2020) - RM380
- Special Offer (before 31 Aug 2020) - RM 450
- Normal Fee - RM 490

- Fee includes Course Notes, Certificate of Completion & 6% Government Service Tax

** DISCOUNT ** - 15% discount for SST2u Learner Card Members

[05] COURSE OUTLINE

[I] OVERVIEW OF COST AND COSTING
• Differentiating Financial Accounting and Managerial Accounting
• Defining cost and costing – objectives and importance
• Cost and purpose

[II] COST CONCEPTS AND TERMINALOGIES
• Cost Definitions and Concepts
• Understanding Cost Behavior – Fixed and Variable Costs
• Cost Allocation, Apportionment and Absorption

[III] COSTING FOR MANAGEMENT DECISION MAKING
• Marginal Costing vs Full Costing
• Break Even Point and Pricing
• Cost-Volume-Profit (CVP) Relationship
• Contribution Margin Analysis
• Period Cost vs. Product Cost
• Target Costing

[IV] COST AND ACTIVITIES
• Traditional Costing Model vs ABC Model
• 2-Dimensional ABC – Process View and Cost Assignment View
• Cost drivers – linking Cost, Activities and Management
• Implementing ABC and its challenges

[V] RECAP, Q&A

(A simulation exercise on the use of key levers to create various scenarios)

[06] SPEAKER PROFILE

WINSON HAN
CA (M) CA (ANZ) B COM
- Chartered Accountant, Consultant, HRDF Certified Trainer

Winson is a Chartered Accountant by profession and has over 40 years of experience having served in various roles as practicing accountant, company secretary, financial controller and management consultant. He presently consults and advises companies to better manage their businesses through an integrated process covering strategic planning; tactical design, planning (financial and otherwise) and implementation; and monitoring, review and analysis. He also consults on SST/ GST for covering compliance and implementation. He is a Customs approved GST tax agent.

Besides consulting, Mr. Han is also actively involved in conducting public and in-house seminars targeting the non-financial audience in financial management and analysis, financial planning & budgeting, cost management, SST/GST and credit and cash flow management. He is a PSMB (HRDF) certified trainer and holds a degree in commerce from New Zealand and is a member of the newly merged institute known as “Chartered Accountants Australia and New Zealand” and Malaysian Institute of Accountants.

[07] REGISTRATION & ENQUIRY

Email: sstcourse@gmail.com
Enquiry:
Teo (011 - 3178 9203)
Logesh (012 - 503 0346)
Siti (012 - 383 8603)
Han (019 - 323 0507)