COST ACCOUNTING TECHNIQUE FOR

COST MONITORING & CONTROL

14th – 15th February 2022 via Remote Online Training – Public Training

+60198008301 (Call/ Whatsapp) azrul@cfrontier.com CF Learning Services Sdn Bhd

INTRODUCTION

Cost Accounting is an organizational function that identifies, collects, classified and reports the costing
information to management to assist in the decision making such as product/ service pricing,
profitability analysis and projection.

Cost Sustainability post Covid 19 and MCO requires also an effective Cost Down program for business
continuity and sustainability.

Goods/ service production cost, inventory cost, operating expense cost needs to be re-examined
critically to enable the organization to remain resilience to meet any future crisis as and when it
arises.

COURSE OBJECTIVES

The End in Mind First objectives are to enable the Participants to:
 Enhanced their Costing skills in work and in knowledge for value innovation
 Initial corrective actions in their cost analysis for improvements.
 Manage all cost activities more effectively for cost down program
 Strengthening the organization’s costing system
 Take continuous strategic role in retaining cost leadership within the industry

Program Schedule
8.45AM REGISTRATION & MORNING COFFEE
9.00AM TRAINING RESUME
10.30AM COFFEE BREAK (15 MINUTES)
12.30PM LUNCH BREAK (ONE HOUR)
HRD SBL KHAS CLAIMABLE 3.30PM COFFEE BREAK (15 MINUTES)
5.00PM TRAINING ENDS

www.cfrontier.com T: +6 088 731 412 / 03 3310 0039 F: +6 088 731 573 / 03 2283 1906
 COURSE CONTENT | 2-DAYS PROGRAM

DAY 1 DAY 2

Introduction Process Costing Method

 Divisions of Accounting – Financial, Cost and
Management Accounting
 Contribution of Cost Accounting to an
organization
 Cost Dynamic and Cost Drivers
 Cost Down strategies and plan for post COVID
19 and MCO
 Costing basis and costing methods
Cost Fundamentals
 Cost Classifications and the understanding of
them.
o Direct and Indirect Cost
o Variable and Fixed Cost
o Prime Cost, Conversion Cost and Landed
Cost
o Difference between direct, indirect and
operating overheads
o Product / Service Cost
 Product / Service production valuation
o Indirect Overhead apportionment
concept.
o Indirect Overhead absorption concept
o Production, Operating and Abnormal Cost
Cost Accounting for Materials
 Bill of Materials establishment, control and
continuous improvement
 Cost Calculation for each material
 Material Cost Control
 Inventory holding management
 Concept of Just in Time (JIT)
 Valuation method
 Total cost criteria for procurement decisions:
o Interco terms advantage
o Value chain cost
o Financing cost
Cost Accounting for Labor
 Recording and control
 Remuneration incentives
 Productivity measurement
 Structure Process Costing
 Production flow and its cost accumulation
 Losses (losses, scraps & wastage) and gains
in the process
 Work in progress at different stage of
completion
 Joint and By-products
Standard Costing (TARGET) AND Variance
Analysis for continuous improvement
 What is Standard Costing, its needs and
suitability
 Setting of standards – basic, current,
attainable, ideal.
 Standard Cost and Hours
 Abnormal loss of material and idle time.
 Standard Costing in Service Industries
 Variance Analysis – Material, Labor,
Overhead, Sales & Profit,
 Quantity (Usage/Volume) and Price
 Material and Labor Yield and Mix
 Disposing of variances
 Causes of Variances
 Interdependency of variances
 Responsibility accounting as reasons for
variance analysis.
Marginal Cost – For Decision Making
 Cost Profit Analysis
 Cost Classification under marginal costing
 Meaning of contribution and its calculations
 Breakeven point calculation for:
 Single product
 Multiple products
Methodologies
 Course notes
 Participative and active discussions, and
 Hands on exercise and assignments
 Free flow of questions and answers.

Cost Accounting for Overheads Who Should Attend?

 Identification and Classification
 Apportionment and Absorption method to  Costing clerks & assistances
products / Services  Costing Supervisors and Executives
 Basis of absorption  Production Executives
 Treatment of over and under absorption cost in  Product, Marketing and Purchasing
the accounts Executives
 Management Accounting Executives
Job, Batch and Service Costing  All new Accounting Staffs
 Costing by process  Any other personnel who are involved in
 Costing by batch the company’s costing matters or are
 Costing by job interested to learn about costings.
 Costing for services render in the service
industry.

www.cfrontier.com T: +6 088 731 412 / 03 3310 0039 F: +6 088 731 573 / 03 2283 1906
 TRAINERPROFILE
TRAINER PROFILE| |2-DAYS
2-DAYSPROGRAM
PROGRAM

TAN KOK TEE

A Fellow member of the Association of International Accountants, UK; Fellow Member of the Institute of Public
Accountants, Aust.; Associate Member of the Chartered Tax Institute of Malaysia; Member of the Malaysia
Associations of Company Secretaries, holds an MBA-Finance from Charles Sturt University, Australia and a Gold
Mastery Holder in Reinventing Strategic Planning and Management from the Haines Centre for Strategic
Management, sponsored by University of San Diego, USA. A Certified Trainer with PMSB’s (HRDF) since 2009,
and a Life Member of the Malaysian Institute of Directors.

Tan Kok Tee has 40 years of working experience in Accounts & Financial, Strategic and General management
field. He has held a variety of leadership and senior management roles in various organizations, starting in the
Accounts & Finance Department until CFO level and the last being Group Chief Executive Officer. More than half
of these time are spent in the Manufacturing, Marketing & Distribution and Services organizations, including
those with the then Inchcape Timuran Berhad, Metroplex Berhad, Perdana Industries Berhad. Kok Tee has also
been a hands-on SST practitioner during the SST01 regime until its abolition.

Kok Tee has been involved in Advisory, Training and Facilitation on an ad-hoc basis from 2009-2013, and full
time from 2014 to now. To-date he had conducted about 400 training workshops throughout Malaysia on topics
on GST; SST; Practical Accounting for Accounting Staffs; Reading, Analyzing and Interpreting Financial
Statement; Accounting and Finance for Non-Accounting Managers; Customers Credit Evaluations and Collection
Strategies; Incoterms, LC Operations and Trade Financing; Reinventing the Strategic Planning and
Management and Financial Statement Hands On Application to MBRS, Cost Accounting, etc.

To-date more than 20,000 personnel ranging from Directors, Senior to Junior Managers and Executives,
Supervisors and Assistants had benefited from his training and he was the Lead GST Trainer for Malaysia
Export Academy in 2014-2015.

He also developed and delivered an entrepreneurship program specially designed for MBA students from GC
University, Pakistan in collaboration with Sunway Education Group for period 2010 to 2014 and was an invited
speaker for the Asian Financial Controller’s Congress in 2009, 2010 and 2011.

TESTIMONIES FROM PAST PARTICIPANTS

What do you like most about this course?

Rated 5 Stars by most participants

“The guide on how to prepare sets

of accounts.” “The clarity and
interactiveness.”

“Trainer is knowledgeable.
“The trainer laid out the fundamental
- Impressed on the excel. I
in the Whys of budgeting, so it gives
think this takes lots of time
an overview of start to end of a budget
to create this.”
planning process.”

www.cfrontier.com T: +6 088 731 412 / 03 3310 0039 F: +6 088 731 573 / 03 2283 1906
 REGISTRATION FORM – ROT COST ACCOUNT TECHNIQUE FOR COST MONITORING, 14-15 FEBRUARY 2022

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