Limited Period Access to myCPE Prime Unlimited CPE Access starting at $199. Subscribe Now

Activity Based Costing

  • Accountant
  • CPA/ABV
  • CPA (CA)
  • CGFM
  • CMA
  • CPA (US)
  • CVA
  • CA - ICAEW
  • CFA
  • ChFC
  • ACCA
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • CBA/MCBA
  • FPAC
  • CA - Ireland
  • CA - Scotland
  • CPA - Ireland
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

Today an emerging focus is to become a “learning organization.” Unlike traditional accounting reports to which managers react by being happy or sad, ABC data makes them smarter!

Critics have claimed that traditional managerial accounting is at best useless and at worst dysfunctional and misleading. Today’s general ledger and budgeted spending systems support departmental and “stovepipe” managerial philosophies.

In contrast, activity-based costing (ABC) information supports process-based thinking. ABC is a key component of the increasingly popular enterprise and corporate performance management (EPM/CPM) systems.

Activity-based costing (ABC) is mostly used in the manufacturing industry since it enhances the reliability of cost data, hence producing nearly true costs and better classifying the costs incurred by the company during its production process.

ABC is used to get a better grasp on costs, allowing companies to form a more appropriate pricing strategy.

The ABC calculation is as follows: 

  • Identify all the activities required to create the product.
  • Divide the activities into cost pools, which include all the individual costs related to an activity—such as manufacturing. Calculate the total overhead of each cost pool.
  • Assign each cost pool activity cost drivers, such as hours or units.
  • Calculate the cost driver rate by dividing the total overhead in each cost pool by the total cost drivers.
  • Divide the total overhead of each cost pool by the total cost drivers to get the cost driver rate.
  • Multiply the cost driver rate by the number of cost drivers.

In this CPE Finance Webinar on costs, we will take you through the practical aspects of each step one by one.

Major topics covered in this online CPE course:

  • Best Practices & Procedures of ABC
  • How ABC can bring truly accurate fact-based measures and visibility to costs
  • Measure channel and customer profitability
  • Discover how to reduce costs and improve productivity

Learning Objectives

  • To analyze how activity-based costing works and where it can bring the best results.
  • To describe the differences between traditional methods of applying overhead and activity-based methods as well as the four critical factors to consider.
  • To observe the three critical steps for implementing and using activity-based costing in your organization.
  • To analyze how to select the most appropriate cost driver to apply activity-based costs pools.
  • To distinguish the types of activities, including unit, batch, product, and facility costs, their hierarchy, and relationship to one another.

Recommended For

  • This CPE course is recommended for CPAs, CMAs, CVAs, CFAs, ABVs, and any other professional who is interested in getting an understanding of the concept of ABC Costing.
  • This CPD course is also good for Canadian CPAs and Finance Professionals.
  • This CPE webinar will be useful for CFOs, Financial officers and controllers, Managerial and cost accountants, financial and business analysts, Budget managers, Strategic planners, Marketing and sales managers, Supply chain analysts Risk managers, CIO, and Board of Directors.

Who Should Attend?

  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • Certified Valuation Analysts
  • CFO/Controller
  • Chartered Financial Analyst
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Directors of Finance
  • Finance Director
  • Finance Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 CPD Credit of Finance for Chartered Professional Accountant (CPA Canada)
  • 1 PL Credit of Finance for Chartered Financial Analyst (CFA)
  • 1 CPE Credit of Finance for Certified Valuation Analyst (CVA)
  • 1 CPE Credit of Finance for Certified Public Accountants (CPA-US)
  • 1 CPE Credit for Certified Management Accountants (CMA)
  • 1 CPD Credit of Finance for Accredited in Business Valuation (ABV)
  • 1 CPE Credit of Finance for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 1 PL Credit of Finance for Certificate In Investment Performance Measurement (CIPM)
  • 1 CPE Credit of Finance for Certified Government Financial Manager (CGFM)
  • 1 CRE Credit of General finance principles and financial concepts for Certified Corporate FP&A Professional (FPAC)
  • 1 CPE Credit of Finance for Chartered Financial Consultant (ChFC)
  • 1 CPE Credit of Finance for Chartered Advisor in Senior Living (CASL)
  • 1 CPE Credit of Finance for Chartered Special Needs Consultant (ChSNC)
  • 1 CPE Credit of Finance for Retirement Income Certified Professional (RICP)
  • 1 CPE Credit of Finance for Wealth Management Certified Professional (WMCP)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit of Finance for Accountant/Bookkeeper/Tax Professionals
  • 1 CPD Credit for CA - ICAEW
  • 1 CPD Credit for Chartered Certified Accountants (ACCA)
  • 1 CPD Credit for Chartered Accountants - Ireland (CAI)
  • 1 CPD Credit for Chartered Accountants - Scotland
  • 1 CPD Credit for CPA - Ireland
  • 1 CPE Credit of Finance for Financial Services Certified Professional (FSCP)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    Group Internet Based
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Manish Gupta

Founder & CEO, VITTPRO

Energetic, ambitious and Result-oriented professional, offering +15 years of extensive experience in Management, operations, Finance, Audit, Risk management, marketing and Customer experience.

Manish has hands-on experience in Monthly Reporting and Pnl Analysis, Budgeting and strategic planning.

Passionate for learning and development, thinking in innovative and non-traditional ways, Manish is your business partner for growth.

Manish is experienced with leading projects for change. He has led ERP implementation for 16 hotels in Htoo Group.

Manish is focused, display positive attitude and Topline growth approach towards business problems. He believes in efficiencies and lean management.

He is also on his Entrepreneurial journey and founded https://ehotelmanagementschool.com for sharing knowledge and experience via online classes and sessions. Startup also help small hotels and other startups with finance and management consulting.

About Company

VITTPRO

Vittpro is professional accounting and finance company for helping small business manage their accounting and finance function with ease and gain insights from data.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

3.8

9 Ratings

Excellent

4

Very Good

2

Average

1

Poor

1

Terrible

1

MJ

Melissa Johnson, Others

Mar 29th, 2022

The presenter talked a little fast but the content was great.

BPB

Belen Perazzo Barber, CPA (US)

Mar 28th, 2022

The poll questions did not appear. I only saw 2 of them. The 3rd one did not post the question until after they stated time was up and i never saw a 4th question (unless one was not presented on purpose)

TM

Theresa Murphy, CPA (US), BO

Sep 23rd, 2022

Could not understand the instructor, topic was something I'm interested in, but he spoke so fast and his accent made it impossible to understand him.

Activity-Based Costing Finance CPE Webinar

PREMIUM

1 Credit

Subject Area

Finance

Upcoming Webinars

2022 Enrolled Agent Ethics
  • 4.7
  • (227)

Oct 04, 2022 | 10:00 AM EDT

Excel Accountant: Linked Workbooks
  • 4.5
  • (13)

Oct 04, 2022 | 10:00 AM EDT

IRS Audit Process & Defense Presentation
  • 4.6
  • (1202)

Oct 04, 2022 | 10:00 AM EDT

The Importance of Auditing Time and Expense
  • 4.5
  • (15)

Oct 04, 2022 | 10:00 AM EDT

Ultimate Guide to GAAP with Latest Updates
  • 4.1
  • (80)

Oct 04, 2022 | 10:00 AM EDT

cookies_image

We use cookies to make your experience on this website better