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FINANCE AND ACCOUNTING
Fundamentals of Cost Accounting SEMINAR #1201
Get inventory costs right.
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YOUR IMMEDIATE TAKEAWAY
• Lay the foundation for process improvement with variance analysis • Use contribution margin to support key decisions • Employ activity-based costing to charge costs to associated products Manufacturers have a multitude of costs that must be included in the inventory and the cost of goods sold: material, labor, direct variable costs, indirect variable costs and fixed costs. You will learn how to properly identify these costs. Using multiple case studies, this seminar will provide you with detailed information on the various techniques companies have devised to apply all these costs to inventory. Doing so ensures that the inventory and the cost of goods sold are properly valued for both internal and external users. This seminar provides you with the information you need in deciding how to value the inventory and the cost of goods sold in your company.
WHO SHOULD ATTEND Accountants, accounting managers, cost accountants, cost analysts, budget analysts, systems analysts, auditors and financial planners who want to put accounting’s best practices to work for their company. HOW YOU WILL BENEFIT • Classify all inventory costs • Create an inventory direct costing system • Identify fixed manufacturing costs • Apply fixed manufacturing costs to inventory • Create a standard costing system and calculate variances • Create an activity-based costing (ABC) system • Use a cost-volume-profit analysis to determine break-even points and margins of safety • Use relevant costing models for production decisions WHAT WILL BE COVERED • Job costing procedures • Process costing procedures • Absorption costing techniques
TABLE OF CONTENTS
FA C U LT Y S P O T L I G H T Chia-Li (Jolly) Chien, CFP®, CRPC, PMP®, is one of the experts who teach this course. Jolly is a strategist, speaker and author, and is chair of the Pro Bono Advisory Committee for the Financial Planning Association (FPA). She is also a member of the National Association of Women Business Owners, eWomenNetwork, FPA and Project Management Institute.
• Equivalent units of production calculations • Direct costing techniques • Standard costing techniques • ABC costing techniques • Cost-volume-profit analysis • Relevant costing techniques for future production decisions NOTE: Please bring a laptop or calculator to this seminar.
Professional Accreditations
Approved for up to 23.78 CTP/CCM recertification credit(s) by the Association for Financial Professionals at the rate of one credit for each 50 minutes of attendance.
Approved for up to 23.78 FP&A recertification credits by the Association for Financial Professionals at the rate of one credit for each 50 minutes of attendance.
Recommended CPE Credit: 20 hours/Basic Prerequisites: Familiarity with Finance and Accounting for Non-Financial Managers (see AMA seminar #2218, page 98). Advance Preparation: None Delivery Method: Group Live Field of Study: Technical—Accounting
1.7 CEUs/20 CPE/23.78 CTP/CCM 23.78 FP&A $2,345/AMA Members $2,095 AMA Members save $250
3-DAY CLASSROOM SCHEDULE March 25-27 . . . Chicago, IL . . . . . . . . 1201-L3A-00624 May 13-15 . . . . . New York, NY . . . . . . 1201-L3A-00625
Register today! www.amatraining.org/1201 June 10-12 . . . . . San Francisco, CA . . . 1201-L3A-00626 June 19-21 . . . . . Chicago, IL . . . . . . . . 1201-L3A-00630
July 10-12 . . . . . . Arlington, VA . . . . . . 1201-L3A-00627 Aug. 14-16 . . . . . Atlanta, GA . . . . . . . . 1201-L3A-00628
AMA seminars are GSA approved and all AMA programs can be delivered onsite