Costing and Cost Management (Intensive Workshop)

March 20, 21

Costing and Cost Management (Intensive Workshop)

2 Days Training Workshop

March  20, 21

Overview and Objectives:

Cost is considered a major element for any business; knowing your cost and how to manage the cost will lead any company to have an effective and efficient operation and ensure profitable business.

Participants will learn about cost elements, ways to manage costs, accumulate and allocate them, as well as how to keep  the operation efficient and ways to improve business processes.

Course aim:

  1. Strategic Cost Management seeks to provide specialization-level knowledge to accountants and financially motivated general managers on the role of the management accounting in complex modern industrial organizations.
  2. Describe the three fundamental purposes of cost and management accounting.  As part of this learning, students will be able to appreciate the use of different costs for different purposes.
  3. Describe different product costing scenarios in job-order and process environments.
  4. Use standard costs to prepare budgets for planning and control purposes.


The training approach is completely against instructing, we focus on developing specific skills through experiential learning and interactive training.

This approach helps trainees enjoy, memorize and apply what they learn.


  • Finance managers, Accounting managers & Cost accountants
  • Project sponsors, project managers and project team members
  • Individuals wishing to refresh or upgrade their knowledge, skills and application of cost management
  • Anyone who works with costs and financials around projects.

Workshop Contents:

  • What is Cost Management?
  • Terminology, Measurements and Concepts
  • Classifications of Costs - Types of Costs and Cost Allocation
  • Relevant Range
  • The Flow of Cost
  • Inventory Costing Systems
  • Joint products and By-products
  • Cost accumulation systems
    -Job Order Costing
    -Process Costing
    -Activity Based Costing (ABC)
  • Overhead Cost Allocation
  • Operational efficiency - Supply Chain Management
    -Materials Requirements Planning (MRP)
    -Just-in-Time Manufacturing System (JIT)
    -Theory of Constraints (TOC)
  • Business Process Improvements

Date: 20, 21 March 202

Duration: 2 Days workshop

Time: 10:00am-4:00pm