Cost and Management Accounting Course

Course Objectives
On successful completion of Cost and Management Accounting Course, participants shall be able to:
• Understand the fundamentals of Managerial Accounting and how it differs from Financial Accounting
• Use of management reports for planning and monitoring purposes
• Decide the level at which costs need to be captured
• Analyse variances between Actual v/s Budgeted / Previous years’ figures for corrective actions
• Optimise working capital and avoid unnecessary blockage of funds
• Evaluate capital expenditure
Course Outline
INTRODUCTION
• Definition of Management Accounting
• Concepts of Management Accounting
• Planning and Budgeting
• Performance Measurement
• Financial Accounting
• Introduction to Cost Accounting
• Understanding Cost Behaviours
MANAGEMENT ACCOUNTING
• How does Managerial Accounting Works?
• Objective of Management Accounting
• Difference between Management v/s. Financial Accounts
• Budgets and Forecasts
• Performance Measurements
COMPONENTS OF FINANCIAL STATEMENT
• Balance Sheet
• Income & Expenditure Account
• Cash Flow Statement
• Statement of Changes in Equity
• Notes in Financial Statements
COST ACCOUNTING
• Cost Classification
• Cost Behaviour
• Fixed & Variable Cost
• Marginal & Absorption Costing
• Understanding Break-even Point
• Activity Based Costing
• Standard Costing
VARIANCE ANALYSIS
• Price Variance
• Volume Variance
• Mix Variance
• Efficiency Variance
• Practical Example
WORKING CAPITAL CONTROL
• Inventory Control
• Accounts Receivable
• Accounts Payable
• Reconciliation of Sub-ledgers
• Other Current Assets & Current Liabilities
• Tax and Deferred Taxation
BUDGET PROCESS AND MANAGEMENT
• Preparation of Master Budget
• Fixed v/s Flexible Budgets
• Quarterly Reviews
• Forward Planning
• Budget/ Actual Comparison
• Zero Based Budgets
CAPITAL EXPENDITURE
• Capital Investment Appraisal
• Return on Investment
• Payback period
• Net Present Value
• Internal Rate of Return
• Lease or Buy Decisions
• Tax Implications thereof

Methodology
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.
DATE:
1ST BATCH: 28th – 30th Apr, 2025
2ND BATCH: 11th – 14th Nov, 2025