Course Objectives.

• Highlight the relationship between strategic management and financial planning and how these can be integrated, to enhance company's overall performance.

Course Outline.

• Overview
  • Scope & Purposes of Cost Accounting
  • The Planning & Control Process
  • Parameters of Designing Management Accounting Systems
  • Cost: concept, types and trends
• Budget as an Effective Tool
  • Budgeting as a process
  • Why budgets are needed
  • Budget types
  • Activity - based vs. Zero-based budgeting
  • A step-by-step procedure of preparing a comprehensive budget
• Product Costing Systems
  • Product Costs & Inventory Categories
  • Product Costing Methods
  • Product Costing & Cost Management
  • Cost estimation & the role of computer
  • Overhead Costing