Course introduction

A company cannot plan unless it understands its costs. By understanding the various facets of the cost accounting process, Managers and Executives will be able to create an efficient cost analysis system to better control and measure an enterprise's business functions and bottom line.
This seminar is designed to discuss the main features of cost and management accounting and its applications in a business enterprise. It is essential for Managers and Executives of a firm to know how cost accounting information can be organised, so that quality decisions could be made. As the focus is on decision making process, participants would not be required to understand the bookkeeping process and the preparation of financial statements.

Course Benefits

Upon completion of this workshop, participants will be able to:

Have an overview of cost and management accounting
Learn the differences between marginal costing and absorption costing
Understand budgeting and variance analysis
Learn the application of costing in business decision making
Know how to apply various analytical techniques to make quality decisions

Target Audience

Managers and Executives who do not work in accounting but who need to know how basic accounting work and apply accounting related techniques when making business decisions.

Course Outline

Module 1:Overview of Cost and Management Accounting

Differences Between Financial Accounting and Management Accounting
Costing Concepts and Purposes

Module 2: Differences Between Marginal Costing and Absorption Costing

Gross Profit Concept
Contribution Margin Concept

Module 3: Budgeting and Variance Analysis

Interpretation of Material Variance
Interpretation of Labour Variance
Investigation of Variance

Module 4: Application of Costing in Business Decision Making

Cost Volume Profit Analysis
Acceptance of Special Order
Make-or-Buy Decisions
Closing or Continuance of a Section or Product
Activity Based Costing

Module 5: Cash Flow versus Profit

Definition of Profits
Subjective Judgments Influencing The Profit Figures
Accounting Rules Explained
Accrual, Matching and Prudence Concepts

Module 6: Linking the Financial Statements

The Link between the Three Financial Statements
Balance Sheet, Profit and Loss Account and Cash FlowStatement.
Structure of Cash Flow Statement
Operating Activities, Investing Activities and Financing Activities
Preparing The Cash Flow Statement

Module 7: Analysing Business Performance

Using The Published Financial Statements of Listed Companies, This Session Demonstrates and Interprets The Financial and Operating Performance of These Enterprises in terms of:
Profitability
Liquidity
Sustainability
Investment Value

Module 8: Cash Flow Budgeting

Planning and Developing an Annual Budget
Forecasting and Projection of Future Activities
Operating, Investing and Financing Preparing Operating Activity Budgets
Preparing Cash Flow Budget

Module 9: Cash Flow Strategy for Business

Key Consideration in Cash Flow Management
Factors to be Considered When Designing an Effective Cash Flow System

Available Course Sessions

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Trainer Profile

Kaim Soon

Kaim Soon is a corporate trainer specialising in accounting and financial management. He conducts regular workshops, seminars, and in-house trainings to management and staff of statutory boards and business corporations. His areas of specialisation include financial and management accounting, corporate investment and financing, as well as corporate due diligence.

His past appointments include careers in financial control and general management in the banking, insurance, retail and manufacturing industries. He has held management positions as a Financial Controller and a Director for manufacturing companies. He was also in-charge of the group and subsidiaries’ accounting, finance, and investing projects and management, including reporting to the board and statutory bodies in Singapore, Malaysia, Hong Kong, Indonesia.

He holds a Bachelor degree (honours) in Business Administration from the National University of Singapore. majoring in finance and investment. He is a fellow member of the Chartered Association of Certified Accountants, UK and has obtained his MBA at the Helsinki School of Economics, Finland.

Sample List of Clients:
- Hitachi Cable
- Housing and Development Board (HDB)
- Ministry of Community Development Youth & Sports (MCYS)
- Murata Electronics
- YCH International Ltd
- Times Publishing Ltd
- VOLVO Asia Pacific