Course details
Concept and Scope of Accounting: Definition, cost elements, nature and objective, charts of accounts and coding in cost accounting Cost Classification and Flow: Product and period cost, direct and indirect cost, Differential cost and revenue, Opportunity and Sunk cost, fixed and variable cost, mixed cost, statement of cost of goods manufactured and sold statement.
Material Planning, Controlling and Costing:
- Procedure for material procurement and use
- Material costing methods
- Inventory valuation at cost or market whichever is lower
- Procedure for spoiled, scrap and defective work
- EOQ , Inventory level and reserve stocks
- Valuation of inventory
- Planning materials requirement
- Materials control
Labour Controlling and accounting for costs:
- Productivity and labour costs
- Incentive wage plans
- Learning curve theory
- Organisation for labour cost accounting and control
- Overtime plans, Bonus payments, vocation pay guaranteed annual wage plans , apprenticeship and training programs
- Human resource accounting
- Pension plans
- Labor related deductions
Factory Overhead Planned, Actual and Applied Variance Analysis:
- Procedure of factory overheads including apportionment
- Applied and actual FOH, under applied FOH.
Accounting for mass customization operation: Manufacturing cost flow
- Product cost and service industries
- Different costs for different purposes
Product costing and cost accumulation in a batch production environment:
- Types of product costing system,
- Accumulating cost on job order costing; two stages cost accumulation,
- Accuracy vs timeliness of information,
- Use of bar codes, Electronic data change.
Process costing and Hybrid product costing system:
- Process Costing : Cost of production Report
- Process Costing : Average and FIFO method
- Joint product and by-product
- Hybrid product costing system
Standard costing and variance analysis
- Setting Direct material Standards
- Setting Direct labour Standards
- Setting variable Manufacturing Overhead Expenses
- A general model for variance problems
- Using Standard cost
Course Location
About Almajd Industry
AITE is committed to provide HSE Trainings & Consultancy Services in the region for the past 10 years, Our dedication and commitment towards achievement of Health, Safety and Environmental objectives in the region derive us to further join hands with world famous HSE Institutions to bring Safety Culture in the Region. Providing internationally accredited quality trainings to develop competent Human Resource for the industry is our motive. We believe in providing best possible solutions to the industry by offering
- Cost Effective Training & Consultancy Solutions.
- Tailor Made Solutions as per client’s requirements.
- Flexible Solutions to suite client’s needs.
- Completely new approach to HSE Trainings.
- Providing world recognized and respected international qualifications.
- Comprehensive range of Health & Safety Courses.
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