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Costing for Decision Making

Importance of the Workshop

Organizations make many business decisions based on the cost of products. How the cost of a product offering is determined could take varied forms. If the appropriate cost is not determined, this could lead to wrong decisions – rejecting a profitable product, or even accepting an unprofitable product. Thus determining the appropriate cost for specific decision types, would be of utmost importance. Besides, once the cost behavior is known, cost reduction efforts can be focused. 

Methodology

Presentation, Discussion, Practical exercises, Handouts, Group Work and Video Presentations 

Program Contents

1) Cost

      a) Cost in a manufacturing organization vs. Cost in a service organization

      b) Elements of Costs and Cost behaviour

      c) Classification of overhead costs

     d) Overhead absorption rates

2) Methods of Cost Accounting

     a) Costing for specific orders – Job costing, Batch costing

3) Methods of Costing

    a) Marginal costing

    b) Absorption costing

   c) Activity Based Costing

4) Decision making using Marginal costing techniques

   a) Make or buy decisions

   b) Accepting or Rejecting special orders

   c) Opportunity costs in management decisions

5) Break-Even Analysis

 

Registrations

Call 071 303 2422

E-Mail : workshop@epitom.org

Contact Us

Epitom Consulting (Pvt) Ltd,
166/16-1, Kirulapona Avenue,
Colombo-05, Sri Lanka.
+94 71 303 2422
info@epitom.org