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Comprehensive Review Of Costing Best Practices

Michel Morley

Mike Morley

  • CPA/ABV
  • CPA (CA)
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL

Published: September, 2021

Comprehensive Review Of Costing course

2 Credits

$20

Subject Area

Accounting

Webinar Qualifies For

2 CPE credit of Accounting for all CPAs

2 CPE credit for Certified Management Accountants (CMA)

2 CPE credit for Certified Internal Auditors (CIA)

2 CPD credit (Verifiable) for Canadian CPAs

2 CPE credit for Internal Audit Practitioner (IAP)

2 CPE credit for Qualification in Internal Audit Leadership (QIAL)

2 CPD credit (Verifiable) for CPA/ABV

2 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

You need to register for the webinar to watch the video.

Click Here to Register

Before starting this self study program, please go through the instructional document.

Overview

  • Costing activities
    3 mins
  • Traditional costing analysis processes
    21 mins
  • Costing related activities that increase company value
    38 mins
  • Reassessing costing systems
    44 mins
  • Standardizing the costing process
    67 mins
  • Costing Process success factors
    84 mins

Course Description

Whether a public company, private enterprise, or not-for-profit organization, cost accounting is vitally important to any entity that offers products or services. This webinar provides a comprehensive review of the costing best practices.

The webinar provides key importance to the variety of uses of the costing and costing system. For instance, costing systems and policies are used as management tools for a variety of purposes including identifying cost and income structures for separate products/services; and as an input to pricing evaluations. Increasingly they are used as a regulatory tool in many industries.

Further, the webinar takes a progressive approach to the uses of the costing systems. It also directs how the costing system can be used to apply effective control. For instance, a service/production cost model could do more than simply calculate the cost of your products/services. It should also account for the main performance indicators used by management to establish a company strategy. These indicators must be incorporated into the model so upper management can assess different scenarios and the model can be put to optimum use.

Major Topics Covered in this Online Accounting CPE Webinar:

  • Why profits often do not correspond to projections.
  • How to improve fixed cost allocation.
  • Costing for a better understanding of the operational data for products/services.
  • Techniques for improving product/services variance analyses.
  • Using effective dynamic budgets that keep up with changes in operations.
  • Learn how to keep costing models simple to use.
  • Cost accounting systems for determining the most profitable products/services.
  • Reconciling budgets with production/services costs.
  • Making benchmarking a part of cost analysis and evaluation.
  • Tools for assessing if costs are really in line with operations.
  • Many other best practices.

Learning Objectives

  • To recognize how to precisely assess the cost of your products/services.
  • To develop a strategic plan.
  • To recognize the effect your operations have on costs and products/services.
  • To analyze solutions to manage, control and optimize costs.
  • To discuss product/services cost information with managers.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Auditors
  • Bookkeepers & Accountants & Tax Preparers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA