Practical Costing Essentials for Non-Finance Professionals

Topic 1: Cost Components

• Direct Materials, Direct Labour costs, Manufacturing Overhead
• Prime Costs, Conversion Costs

Topic 2: Product Versus Period Costs

• Product Costs
• Period Costs

Topic 3: Cost Behavior

• • Nature of Costs, Variable Costs, Fixed Costs
• • Economies of Scale
• • Business Model

Topic 4: Cost Bahavior Analysis

• Mixed Costs
• High-Low Method, Least Squares Method

Topic 5: Break-Even and Target Income

• Contribution Margin
• Break-even Calculations, Target Income Calculations

Topic 6: Sensitivity Analysis

• Changing Fixed Costs, Changing Variable Costs
• Blended Cost Shifts, Per Unit Revenue Shifts

Topic 7: CVP for Multiple Products

• Multiple Products, Selling Costs, and Margin Management

Topic 8: Job Costing Concepts

• Cost data Determination, Conceptualizing Job Costing,
• Tracking Direct Labor, Direct Materials, Overhead

Topic 9: Tracking Job Costing Within Corporate Ledger

• Direct Material, Direct Labor, Applied Factory
• Overhead, Global Trade and Transfers

Topic 10: Process Costing

• What is Process Costing?
• Job Costing Versus Process costing

Topic 11: Cost Allocation to Completed Units and Units in Process

• Cost of Production Report, Journal Entries

Topic 12: Activity-Based Costing

• Pros and Cons of ABC, Reality of ABC, Implement ABC

Topic 13: Case Study

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• SME Business Owner
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Gary Chan: Gary Chan is a ACTA certified trainer. Gary Chan is a Chartered Accountant (ACCA, UK) and a member of the Institute of Singapore Chartered Accountants (ISCA). He has a MBA in International Business from Henley University (UK) and a Master degree in Strategic Marketing (Ireland). He is an ACTA certified trainer.

Gary has more than 20 years in business and financial management responsibilities in multinationals and local SMEs and more than 10 years’ experience of teaching/training/consulting in financial, business management & development, sales and marketing and leadership.

Bell Ang Chai Huat: Bell Ang is a ACTA certified trainer. Bell Ang is a Certified Practicing Accountant, member of CPA Australia. Approved mentor of Singapore Accountancy Commission. She is an ACTA Certified trainer and Xero Certified Advisor.

With more than 40 years working experience, Bell has held positions both in the Accounting/Finance and IT consultancy positions in various industries.
As an IT consultant, Bell specialises in the financial systems for example, Oracle financial, Scala. She has successfully led and handled more than 20 projects with full implementation and conducted several in-house and clients' trainings.