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SMART Costing For Non-Finance Professionals
SMART Costing for Non-Finance Professionals is a two-day workshop. Learners will be able
to grasp in-depth Principles & Application on Cost Behavior and Budgeting evaluation
models which aim to provide learners an overview of the costing knowledge and essentials
to assist the managers and executives in their daily activities; especially in the costing
methodology to excel in their performance.
to grasp in-depth Principles & Application on Cost Behavior and Budgeting evaluation
models which aim to provide learners an overview of the costing knowledge and essentials
to assist the managers and executives in their daily activities; especially in the costing
methodology to excel in their performance.
Objective
By the end of the course, learners will be able to:
- Understand Basic Costing and Accounting Terminology
- Identify cost behaviour patterns and its relevant ranges of activity
- Explain the relationship between fixed costs, variable costs, and activity levels
- Calculate the break-even point and explain its relationship with contribution margin
- Estimate the sensitivity effect of changes in costs, process, and volume on profit
- Use the margin of safety ratio in accessing risks
- Describe the nature, characteristics and preparation of the budgeting process
Outline
- Introduction
• What is Costing? - Cost Components
• Direct Materials, Direct Labour costs, Manufacturing Overhead
• Prime Costs, Conversion Costs - Product Versus Period Costs
- Cost Behavior
• Nature of Costs, Variable Costs, Fixed Costs
• Economies of Scale
• Business Model - Cost Bahavior Analysis
• Mixed Costs
• High-Low Method, Least Squares Method - Break-Even and Target Income
• Contribution Margin
• Break-Even Calculations, Target Income Calculations - Sensitivity Analysis
• Changing Fixed Costs, Changing Variable Costs
• Blended Cost Shifts, Per Unit Revenue Shifts - CVP for Multiple Products
• Multiple Products, Selling Costs, and Margin Management - Job Costing Concepts
• Cost data Determination, Conceptualizing Job Costing,
• Tracking Direct Labor, Direct Materials, Overhead - Tracking Job Costing Within Corporate Ledger
• Direct Material, Direct Labor, Applied Factory
• Overhead, Global Trade and Transfers - Process Costing
• What is Process Costing?
• Job Costing Versus Process costing - Cost Allocation to Completed Units and Units in Process
• Cost of Production Report, Journal Entries - Activity-Based Costing
• Pros and Cons of ABC, Reality of ABC, Implement ABC
Who should attend
Finance and Non-Finance Professional including Admin, Procurement, Marketing and Sales,
Project Managers, Heads of Department, Business Heads, GMs, COO, CFO, CEO and
Entrepreneurs
Project Managers, Heads of Department, Business Heads, GMs, COO, CFO, CEO and
Entrepreneurs
Methodology
This course will be conducted where quizzes and group work will be used to reinforce
learning. Illustrations and real-world examples from the trainer and participants experiences
will be shared during the course. Case Studies, Discussion and Scenario-play will be used to
facilitate practical learning.
learning. Illustrations and real-world examples from the trainer and participants experiences
will be shared during the course. Case Studies, Discussion and Scenario-play will be used to
facilitate practical learning.
Profile of Gary Chan
Chartered Certified Accountant, (ACCA, UK)
MBA in International Business (Henley Business School / University of Reading, UK)
MSc in Strategic Marketing (National University of Ireland)
Certified Trainer & Assessor (WDA-ACTA, Singapore)
Certified Advisors ( Xero and QuickBooks Accounting System )
MBA in International Business (Henley Business School / University of Reading, UK)
MSc in Strategic Marketing (National University of Ireland)
Certified Trainer & Assessor (WDA-ACTA, Singapore)
Certified Advisors ( Xero and QuickBooks Accounting System )
Gary Chan has held various senior management roles in both local and international organizations including that of Regional Director and CFO for a large MNC, Director of Corporate Services for an SME, and Vice President for the Asia Pacific for a Fortune 500 company. These have enabled him to accumulate more than thirty years of extensive corporate finance and business leadership experience in his current role as a much sought-after corporate trainer and consultant; particularly in accounting, finance, business management, and development as well as strategic planning and implementation.
Gary is a Chartered Accountant (ACCA, UK) and started his career as an external auditor with Price Waterhouse Coopers. He possesses an MBA in Business Administration from Henley University in the UK, majoring in International Business. In addition, Gary holds a Master of Science from the National University of Ireland, majoring in Strategic Marketing. Gary is a registered Chartered Accountant member with the Institute of Singapore Chartered Accountants (ISCA).
Gary is passionate about helping people change and re-learn the way they lead, manage, think, create, and collaborate with the aim of supporting his learners in their journey to attain personal and organizational success.
Gary utilizes his creativity and real-world examples in conducting his training. He is passionately fond of training and always willing to share with others all that he knows. His outgoing pleasant personality and confident disposition coupled with his lively, light-hearted, thoughtful, engaging, liberally sprinkled with humour and always relevant to his learners’ needs have made his training more lively, fun and insightful.
Gary represents several departments of government and non-profit organizations in providing volunteer works and training to the public. Gary has been featured in the media locally and regionally. Gary is the founder of a local Skill Training & Consulting which provides training and advisory on Accounting, Tax, Financial Management, Financial Planning, Regional Business Development/Expansion, and Strategic Planning and Implementation.
