American Management Association Seminars

Seminar No: 01201 -XNBB
CEU Credits: 1.5
Length: 2.5 days

Top management is keeping a sharp eye on where every dollar goes. Learn how to implement an effective cost accounting system.

Learn how to implement an effective cost accounting system. Walk step-by-step through cost accounting procedures—solving actual cost-process problems...comparing job-costing and process-costing procedures...determining how to apply direct costing techniques...and developing a master plan that coordinates accounting and budgeting.

This is a seminar that provides you with all the tools and information to put cost accounting’s best practices to work for your company.

Accountants, accounting managers, cost accountants, cost analysts, budget analysts, systems analysts, auditors, and financial planners. Note: Please bring a calculator to this seminar.

How You Will Benefit:

  • Use cost accounting to improve profits
  • Analyze reports to make sound pricing decisions
  • Select the cost system that's right for your company
  • Measure results against budgets with greater accuracy
  • Optimize the use of people, resources, and materials

What You Will Cover:

  • Introduction: Product costs and period costs
  • Actual and standard cost systems
  • Job costing: Types and advantages
  • Process costing
  • Absorption vs. direct costing
  • Activity-Based Costing
  • Variance analysis: Planning and control system
  • Budgeting and profit planning
  • Cost controls: Material, direct labor, and overhead cost

Extended/Detailed Seminar Outline

Learning Objectives

  • Use Cost Accounting to Improve Profits
  • Analyze Reports to Make Sound Pricing Decisions
  • Select the Cost System That’s Right for Your Company
  • Measure Results against Budgets with Greater Accuracy
  • Optimize the Use of People, Resources, and Materials
Introduction to Cost or Managerial Accounting
  • Understand the Place of Cost or Managerial Accounting in Relationship to Financial Accounting
  • Understand the Planning and Control Process and Its Relationship to Cost Accounting
  • Recognize and Understand Specific Cost-related Terminology
  • Relate Budgets to the Planning and Control Process
  • Recognize the Use of Budgets as a Tool within both Traditional and ABC Cost Systems
  • Recognize Techniques to Enhance Budgeting Accuracy and Make Budgets More Relevant
Product Costing Systems and Accounting for Overhead
  • Understand the Application and Uses of Job Order Costing
  • Understand the Application and Use of Process and Operational Costing
  • Understand Reasons behind Overhead or Burden Rates
  • Identify Several Different Methods of Associating or Applying Overhead to Various Products and Services, and the Implications of Using Each Method
Activity-Based Costing for Management Control
  • Understand Reasons for Using Activity-Based Costing as Opposed to Traditional Methods
  • Understand the Basic Process of Identifying Activities
  • Understand the Basis for Costing Activities
  • Understand How Products or Services are Costed Using ABC
Standard Costing and Variance Analysis
  • Understand Why Standards Are Used
  • Understand Different Approaches to Setting Standards, and the Implication of Each Approach
  • Understand What Is Included in Each Standard
  • Understand When Standards Should Be Changed
  • Understand What Happens When Standards Are Changed
  • Understand the Process of Variance Analysis for Material, Labor, and Overhead Variances
Absorption versus Direct Costing
  • Understand Implications for Unit Product or Service Costs of Fixed and Variable Cost Behaviors
  • Understand Difference between Absorption and Direct Costing Methods
  • Understand the Organizational Levels at Which Direct Costing May be Appropriate, and the Uses of Direct Costing Information
  • Recognize the Process and Requirements for Establishing a Direct Costing System
Cost-Volume-Profit Analysis
  • Understand the Concept of Break-even Analysis in Units and in Dollars, and the Appropriate Use of Each
  • Understand the Implications of Operating Leverage
  • Understand Margin of Safety and Its Impact on Decisions to Add Fixed Costs or to Change Cost Structures
  • Understand the Use of Contribution Margin in "What-if" Analysis
Relevant Costing and the Contribution Approach to Decision Making
  • Determine What Costs Are Considered Relevant in a Decision-making Process
  • Apply Relevant Costing to Evaluate Different Scenarios in Making Decisions
  • Understand Relevant Costs When Considering Accepting Business at a Special Price
  • Understand Relevant Costs When Considering Dropping a Product Line or Closing a Facility
  • Understand Relevant Costs When There Are Limiting Factors of Production
Return on Investment Analysis
  • Understand, Calculate and Understand the Appropriate Use of ROI Analysis for Specific Projects
    • Payback
    • WACC and Hurdle Rates
    • NPV
    • IRR
  • Understand, Calculate, and Appropriately Use ROI Analysis Related to Ongoing Businesses
    • ROI
    • ROIC
    • ROA
    • DuPont Formula
    • Residual Income (EVA)
  • Understand Internal Cash Management Ratios
    • Cash Conversion Cycle
    • Burn Rate
    • Turn and Earn

Start and End times: first day - 8:30am-5pm, all other days 9am-5pm unless otherwise specified. Your registration confirmation notice will confirm the hotel/conference center for the seminar for which you registered. The information included on this page is all the information available on this seminar. Please use form below to register only. To request information that is not included above please send an email to . Remember to specify the complete seminar number about which you are requesting information.

For information about bringing a course to your site please call 919-480-2550 or email the registry at .

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** Online Registration & Fee Information ** Please use form below to register only. To request information that is not included above please send an email to . Remember to specify the complete seminar number about which you are requesting information.

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After submitting your online registration you will receive registration confirmation and invoice within 7-10 business days. You may pay by credit card or check. Confirmation information will also include location and other pertinent course information.
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Note: Prices are subject to change without notice. To confirm the price of your session, select the session above and click “Send”. Discounts apply for groups of three or more people. Call for details. Federal government employees are eligible for special GSA pricing for many seminars.

AMA's main conference centers
Seminars scheduled for the cities below are held at the locations listed below. For location information for other cities in which AMA seminars are held please call or email for information.

New York
AMA executive Conference Center
1601 Broadway New York, NY 10019
American Management Association (Located in the same building as the Crowne Plaza Hotel) 1601 Broadway On Broadway and 48th Street near Times Square. Entrance is on 48th Street.

AMA executive Conference Center (adjacent to the Marroitt O'Hare)
8655 west higgins rd
Chicago, IL 60631

San Francisco
AMA executive Conference Center is located in San Francisco Marriott Hotel
55 Fourth Street 2nd Level
San Francisco, CA 94103

AMA Executive Conference Center
Address: 1170 Peachtree Street Ne Cnr Peachtree & 14th (3rd Flr)
City, State, Zip: Atlanta, GA 30309

Washington, DC
Arlington, Virginia
2345 Crystal Drive, Suite 200
Arlington, VA 22202

If you are not paying via credit card, you will receive an invoice with payment instructions.

Cancellation Policy:
If you cannot attend a seminar you can contact AMA in advance to transfer to a future session, or you can send someone to take your place. If you need to cancel your attendance, AMA will give you a complete refund if you cancel more than three weeks before your seminar begins. To cancel, simply email us at . If you cancel with less than three weeks’ advance notice, you will be liable for the entire seminar fee. Once your payment has been received, you may request a courtesy transfer to use at any future AMA seminar of equal or lesser length. The courtesy transfer must be used within one year of the date of your originally scheduled seminar. In fairness to all attendees, if you do not attend a seminar session for which you are confirmed and do not contact AMA to cancel in advance, you will be charged the entire seminar fee.

AMA grants courtesy transfers to people who cannot attend their scheduled sessions. You can use a courtesy transfer for any seminar of equal or lesser length than the original seminar. You must use your courtesy transfer within one year of the date of your originally scheduled seminar.

AMA guarantees the quality of our seminars. If, for any reason, you are not satisfied with a seminar for which you have paid, AMA will give you credit toward another seminar of comparable price or will refund your fee.

You can also register by emailing your registration information to us at or calling us at 919-480-2550.

For additional information and schedules call 919-847-0331.

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