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Instructor-led Classroom Adult Training in Singapore - Modular Fast Track Skill-Based Trainings

Practical Costing Essentials for Non-Finance Professionals

Practical Costing Essentials for Non-Finance Professionals is a one‐day public workshop which aim to provide an overview of the costing knowledge and essentials to assist the linemanagers and executives in their daily activities; especially in the costing methodology to excel their performance. It is essential to equip managers with the skill to better manage and control operations and identify cost behaviour and understanding the fundamental interactions between costs and revenues in any activity. Gaining insights into the costvolume-profit relationships enable managers to make better scare resources allocation decisions, plan activities, control costs and evaluate performance. Our working environment today has evolved with the sensitivity of cost behaviour where end state of stake-holders objective is to optimize its scare resource.

Course Objective:
Upon completion of this course, participants will be able to;

  • Identify cost behaviour patterns and relevant ranges of activity
  • Explain the relationship between fixed costs, variable costs and activity levels
  • Discern between discretionary fixed cost and committed fixed costs
  • Separate mixed costs into fixed and variables cost components
  • Calculate the break-even point and explain its relationship with contribution margin
  • Estimate the effect of changes in costs, process and volume on profit
  • Use the margin of safety ratio in accessing risk
  • Describe the nature and characteristics of the budgeting process
  • Identity and explain the strengths and weaknesses of the various budgeting models
  • Use the capital budgeting evaluation models to develop an expenditure budget

After your registered for the course, you can apply SSG grants below

Click here to apply SkillsFuture Credit for Individual

Click here to apply WSG Absentee Payroll for Company
Course Code: CRS-N-0047152

Course Booking

$298.00 (GST-exclusive)

Course Date

Course Time

* Required Fields

Course Cancellation/Reschedule Policy

We reserve the right to cancel or re-schedule the course due to unforeseen circumstances. If the course is cancelled, we will refund 100% to participants.
Note the venue of the training is subject to changes due to class size and availability of the classroom.
Note the minimal class size to start a class is 3 Pax.


Training Grant and Subsidy

All Singaporeans aged 25 and above can use their $500 SkillsFuture Credit from the government to pay for a wide range of approved skills-related courses. Visit the SkillsFuture Credit website www.skillsfuture.sg/credit to choose from the courses available on the SkillsFuture Credit course directory

Course Details

Lesson 1: Cost Components

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

Lesson 2: Product Versus Period Costs

  • Product Costs
  • Period Costs

Lesson 3: Cost Behavior

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

Lesson 4: Cost Bahavior Analysis

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

Lesson 5: Break-Even and Target Income

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

Lesson 6: Sensitivity Analysis

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

Lesson 7: CVP for Multiple Products

  • Multiple Products, Selling Costs, and Margin Management

Lesson 8: Job Costing Concepts

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

Lesson 9: Tracking Job Costing Within Corporate Ledger

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

Lesson 10: Process Costing

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

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

  • Cost of Production Report, Journal Entries

Lesson 12: Activity-Based Costing

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

Lesson 13: Case Study

Who Should Attend

  • Managers
  • Head of Department
  • Vice President
  • CFO
  • COO

Prerequisite

Nil

Trainers

Finance TrainerGary 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.

Finance TrainerTrevor Tan has over 15 years of accounting experience in various MNCs and SMEs, spearheading many accounting projects. He has setup new account using cloud softwares such as Quickbooks and Xero in various industries, and helped to train the users with the cloud softwares over the last 3 years.

Trevor is a member of the Institute of Singapore Chartered Accountants (ISCA) and CPA Australia. He is also an ACTA certified trainer. Trevor finds passion in teaching and has been teaching participants for various subjects from as young as 4 years old to 80 years old for the last few years.

Finance TrainerAnitha Gayathri Mariappan is a CA Singapore, an ACCA member, ACRA certified Qualified Individual (QI), MBA in Finance and IT, SAP FI certified, PMP trained finance professional with 13 years of wide and rich experience in industries like Healthcare, Information Technology, Banking, Broadcast Systems Integration, Professional Services, F&B and more. Coming from a background of various global banks and organisations, my core expertise areas are Financial Accounting, Singapore Taxation, Enterprise and Project FP&A (Budgeting, Forecasting and Performance Review), Business Case Modelling, Data Analysis and Reporting, Process Framework, Governance & Control.

She is also a budding entrepreneur of my own professional and business consultancy services where I strive and progress towards excellence and maximising clients’ value-add and satisfaction. I’ve been a passionate trainer for various internal products, tools, framework and processes for a wider range of audience and stakeholders. Have trained the trainers too. I strongly believe that learning is a joyful life-long process and teaching is the best way to learn new concepts every day.

She is a tech-savvy number person with a strong belief that technology is a boon to our productivity. I motivate myself to continuously sharpen my skills by updating and upgrading with industry innovations and trend. I am adaptive, creative in driving solutions, meticulous, delivery focused, a quick learner and an active listener

Accounting Finance TrainerEva Eu is a Finance Profession with more than 20 years in Finance, Accounting, operational and 10 years in Management, strategic planning and analysis and business operation. She has experienced in handling full set of accounts, consolidation, management reporting, financial, planning and analysis and presentation to Board of Directors. Equip with accounting knowledge in Singapore and Malaysia FRS, China GAAP and Hong Kong FRS, Thailand and Vietnam accounting standards. Good communication skills in liaising with auditors, tax agent, bankers and internal and external stakeholder.

Her other skills include office administrative, submission of government grants, ISO document control, supply chain, vetting commercial contracts, human resources management and Sales management (Distributor and Franchisee). Her industries experiences included Construction, Manufacturing, F&B, Life Sciences, Healthcare and Trading.

She am a member of ACCA, ISCA, Accredited Tax Practitioner (ATA) of Corporate Tax and Accredited Tax Practitioner (Provisional) (PTP) of Goods and Service Tax (GST).

Customer Reviews (1)

Will RecommendReview by Dwight Fonseka
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3. How do you find the training environment
I learnt a lot from the course, content was good and instructor was professional (Posted on 10/9/2018)

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