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 being determined whether it is material, labour or overheads. Any cost that is “wrongly” calculated will have serious and adverse impact on the profitability. As such, business owners and executives 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.
• Know the importance of cost and costing in achieving business goals
• Understand cost concepts and behaviors; and impacts on costing and pricing.
• Know the difference between absorption and marginal costing.
• Use Cost Volume Profit model and Break-even analysis for decision making
• 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 methodology for each decision making be it short or long term.
(C) TARGETED GROUP
• Business owners, Entrepreneurs and Professionals
• Operational managers and executives
• Accounts Managers and Executives
• Accountants and Finance Manager
• Directors, business owners and professionals
• Anyone who has a responsibility for profitability.
(D) DATE & VENUE
Date: 7 December 2020 (Mon)
Time: 9am - 5pm
Mode: Online / Webinar
[ HRDF Claimable | CPD 8 Hours ]
- Special Offer (before 30 Nov 2020) - RM480
- Normal Fee - RM520
- Fee includes Course Notes & Certificate of Completion
** DISCOUNT **
- SST2u Learner Card member - 15% discount
(E) COURSE CONTENTS
 OVERVIEW OF COST AND COSTING
• Differentiating Financial Accounting and Managerial Accounting
• Defining cost and costing – objectives and importance
• Cost and purpose
 COST CONCEPTS AND TERMINOLOGIES
• Cost Definitions and Concepts
• Understanding Cost Behaviour – Fixed and Variable Costs
• Cost Allocation, Apportionment and Absorption
 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
 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
(G) SPEAKER PROFILE
Chartered Accountant, Consultant, HRDF Certified Trainer
CA (M) CA (ANZ) B COM
Winson is a Chartered Accountant by profession and has over 30 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. A key focus of his consultancy is to help clients to better manage and utilize their cash resources and to restore a financially sickened company to good health.
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.
(H) REGISTRATION & ENQUIRY
- General (03 - 5888 7357)
- Teo (011 - 3178 9203)
- Logesh (012 - 503 0346)
- Siti (012 - 383 8603)
- Han (019 - 323 0507)