Cost Management

Part 1 Fundamental cost management concepts; basic cost management concepts; activity cost behaviour. Part 2 Cost accounting systems: traditional cost accounting; product and service costing - over head application and job-order system; product and service costing - a process systems approach; support department cost allocation; joint product and by-product costing contemporary cost accounting; activity-based costing; strategic cost management, life cycle cost management and JIT. Part 3 Decision making: traditional and contemporary approaches: cost-volume-profit analysis; activity resource usage model and relevant costing - tactical decision making; capital investment decisions; inventory management - economic order quantity, JIT and the theory of constraints; pricing and revenue analysis; profitability analysis. Part 4 Cost planning and control systems: traditional cost systems; budgeting for planning and control; standard costing - a traditional control approach; decentralization - responsibility accounting, performance evaluation, and transfer pricing; international issues in cost management contemporary cost systems; contemporary responsibility accounting; quality costing - measurement and control; productivity - measurement and control.