Diploma In Cost And Management Accounting Course In Pakistan (Rawalpindi, Peshawar)

Diploma In Cost And Management Accounting Course

Diploma in Cost and management accounting is a form of accounting that aims to maximise profit by managing revenues and expenses. This course provides a comprehensive guide on the importance of management and the components of cost accounting. You’ll learn about ways cost can be classified along with the functions of marginal cost. You will also learn about the importance of having a budgetary control system in an organization and the formulas for calculating material cost labour variance. It provides data and reports used by managers to inform their strategies around long-term profit and growth.

Who is this course for?

Diploma in Cost and management accounting aim to mould graduates into top quality and work ready accountants with substantial knowledge and analytical competence in all aspects of Costing and Management Accounting.

Course contents:

Concepts of Costs, its Classification and Basics of Cost Accounting System
Design and Operation of Cost Accounting System.
Process Costing and Its Design.
Cost of Production Report and Accounting for Lost Units.
Costing for By-Products and Joint Products.
Factory Overhead and its Applications.
Planned Applied and Actual Factory Overhead.
Variance Calculations for Factory Overheads.
Division of Service Department Costs over Production Centres
Responsibility Accounting in Factory Overheads.
Material Costing and its Control.
Cost of Labour and it’s Control.
Budgeting for Costs, Expenses and Sales.
Concept of Flexible Budgets

Learning Outcomes:

Understand the cost, cost accounting and cost systems
Know the integration of cost accounting with financial accounting
Identify the elements of costs in a unit product
Calculate the cost of production
Measure the different variances
Control cost of production
Budget the costs, expenses and sales

Benefits:

The Advanced Diploma: Cost and Management Accounting graduate is able to enrol for a professional qualification (CIMA – Chartered Institute of Management Accountants) or to do an honours or master’s degree in Management Accounting.
Alternatively, a graduate is able to seek employment in the management accounting field in the private and public sectors.

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