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Practical Costing Essentials for Non-Finance Professionals in Ghana

Course Information

  • Sessions 1 day
  • Duration 7.5 hrs
  • Level Beginner
  • Assessment NA

Venue

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Certification

  • Certificate of Completion from Tertiary Courses - Upon meeting at least 75% attendance and passing the assessment(s), participants will receive a Certificate of Completion from Tertiary Courses.

Practical Costing Essentials for Non-Finance Professionals

Course Code: M732

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What's This Course About

Take a deep dive into the critical world of Practical Costing Essentials tailored for non-finance professionals. This comprehensive course ensures participants become adept at identifying cost behaviour patterns, discerning the intricate relationship between fixed and variable costs, and separating mixed costs effectively. They'll also gain insights into estimating the influence of varying costs, processes, and volumes on profit margins and calculating pivotal metrics like the break-even point.

Additionally, attendees will learn the nuanced distinctions between discretionary and committed fixed costs. The course culminates in a thorough exploration of the budgeting process, evaluating its nature, characteristics, strengths, and weaknesses. By leveraging capital budgeting evaluation models, participants will be poised to craft astute expenditure budgets. With Tertiary Courses, you're not just learning; you're preparing to make informed financial decisions in the corporate world.

Course Fee

$221.00

Course Date

Course Time

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Additional Note

Please bring your own laptop for hands-on training. If you don't have laptop, we can provide spare laptop for training use.

Post-Course Support

We provide free consultation related to the subject matter after the course. Please email your queries to info@tertiarycourses.com.ng and we will forward your queries to the subject matter experts and get back to you as soon as possible.

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. The minimum class size to start a class is 3 Pax.

Course Details

Course Details

What You'll Learn

Topic 1: Cost Components

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

Topic 2: Product Versus Period Costs

  • Product Costs
  • Period Costs

Topic 3: Cost Behavior

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

Topic 4: Cost Bahavior Analysis

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

Topic 5: Break-Even and Target Income

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

Topic 6: Sensitivity Analysis

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

Topic 7: CVP for Multiple Products

  • Multiple Products, Selling Costs, and Margin Management

Topic 8: Job Costing Concepts

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

Topic 9: Tracking Job Costing Within Corporate Ledger

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

Topic 10: Process Costing

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

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

  • Cost of Production Report, Journal Entries

Topic 12: Activity-Based Costing

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

Topic 13: Case Study

Course Info

Prerequisite:

HRDF Funding

Please refer to this video https://youtu.be/Kzpd-V1F9Xs

1-     HRD Corp Grant Helper

How to submit grant applications for HRD Corp Claimable Courses

2-     Employers are required to apply for the grant at least one week before training commences.

Employers must submit their applications with supporting documents, including invoices/quotations, trainer profiles, training schedule and course content.

3-     First, Login to Employer’s e-TRIS account -https://etris.hrdcorp.gov.my

Second, Click Application

4-     Click Grant on the left side under Applications

5-     Click Apply Grant on the left side under Applications

6-     Click Apply

7-     Choose a Scheme Code and select HRD Corp Claimable Courses: Skim Bantuan Latihan Khas. Then, click Apply

8-     Scheme Code represents all types of training that suit the requirements provided by HRD Corp. Below are the list of schemes offered by HRD Corp:

9-     Select your Immediate Officer and click Next

10-  Select a Training Provider, then click Next

11-  Please select a training programme from the list, then key in all the required details and click Next

Select your desired training programme.

Give an explanation on why the participant is required to attend the training. E.g., related to their tasks/ career development, etc.

Explain the background and objective of this training.

Select a relevant focus area. For Employer-Specific Courses, select ‘Not Applicable’.

12-  If the training programme is a micro-credential programme, you are required to complete these 3 fields. Save and click Next

Insert MiCAS Application number

13-  Based on the nine (9) pillars listed below, HRD Corp Focus Area Courses are closely tied to support government initiatives towards nation building. As such, courses offered through the HRD Corp Focus Areas are designed to provide the workforce with skills required for current and future demands. Details of the focus areas are as follows:

14-  Please select a Course Title and Type of Training

15-  Select the correct type of training according to the actual type of training, or as mentioned in the training brochure:

16-  Please key in the Training Location and click Next

17-  Please select the Level of Certification and click Next

18-  Please follow the instructions and key in trainee details

19-  Click Add Batch, then click Save

20-  Click Add Trainee Details

21-  Please key in all the required details, then click Add

22-  Click Add if there are more participants. Once done, click Save

23-  Click Next

24-  Please key in the course fees and allowance details, then click Save

25-  Estimated cost includes the course fees/external trainer fees, allowances, and consumable training materials. Please comply with the HRD Corp Allowable Cost Matrix.

26-  Select Upfront Payment to Training Provider and key in the percentage from 0% to 30%. Then, click Save and Next

27-  Complete the declaration form and select a desired officer

28-  Add all the required documents, then click Add Attachment. Then, click Save and Submit Application

29-  Once the New Grant Application is successfully submitted, the Grant Officer will evaluate the application accordingly. The application may be queried if additional information is required.

The application status will be updated via the employer’s dashboard, email, and the e-TRiS inbox.

Job Roles

Job Roles

  • SME Business Owner
  • Financial Analyst
  • Business Development Manager
  • Financial Consultant
  • SME Accountant
  • Finance Manager
  • SME Credit Analyst
  • Investment Banker focusing on SMEs
  • Venture Capitalist
  • SME Loan Officer
  • Business Strategy Consultant
  • Start-up Founder
  • Economic Development Specialist
  • Chief Financial Officer (CFO) for SMEs
  • Financial Planner specializing in SMEs

Trainers

Trainers

Ramin Majid: Ramin Majid  has more than 5 years’ experience in the field of accounting and financial planning. High knowledge of IGCSEs & A Levels Curriculum and Standards. He is specialize in accounting and company auditing and has been improving his skills from training and courses he is proficient many software such as Quickbooks, OpenERP, Odoo, etc. Ravindran Raman: Ravindran Raman Worked in foreign and domestic commercial banks in Malaysia covering various departments such as operations, retail, credit, trade finance, hire purchase, transaction banking as well in Islamic banking products and services. Conducted various training locally and overseas. Career span in banking and financial institutions enabled to expand practical banking knowledge and experience into Distance Learning University and Conventional University, whereby has developed academic study materials, training banking modules, development of short courses & education programmes. A certified TTT Trainer by PSMB(HRDF) and holds a Master’s of Science in Banking with dissertation in Islamic banking, a Bachelor’s Degree in Business Administration (Honours) majoring in International Business. Further he also holds an Advance Diploma & Diploma in Business Administration (ABE) from UK. TRAINING: Certified TTT Trainer by PSMB (HRDF) certification. AFFILIATE MEMBER: Asian Institute of Chartered Banker (AICB). SITTING ON ACCREDITATION PANEL: Panel member for Finance Accreditation Agency (FAA), UNDER BANK NEGARA MALAYSIA & SECURITIES COMMISION of MALAYSIA. Reviewing, assessing, recommendation and performing accreditation for provisional & full accreditation programme submitted by all Malaysian banks or by any registered training provider (RTP). AREA OF EXPERTISE: Starting up Export & Import (Shipping Unit) for SME, Training, Consultation, Banking, Finance, Trade Finance, Letter of Credits, Supply Chain, Shipping & Logistics, E-Learning, Open Distance Learning (ODL), Academic Module Content Development, International Trade Finance, Accounting, Financial Management, Business Management, Credit Evaluation, Business Report Writing, Loan Processing and Financing Facility Arrangement.

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