Diploma in Cost Accounting

Today Cost Accounting is vital to all modern businesses which need to control costs, and to managers, accountants and business people who need to understand how costs occur, how they can be calculated and allocated, and how to choose and run a suitable cost accounting system.

Notting Hill College offers diploma in cost accounting to introduce candidates to the principles of Cost Accounting to be applied to management accounting problems and in practical business situations.

Who Should Attend?

Professionals and managers who require a working knowledge of Cost Accounting principles and who are involved in making business decisions or planning or budgeting. It is also beneficial to those wishing to become professional accountants and to progress to higher level courses in business and accounting.

Course Content

Major Topics Covered in this Diploma Program:

  • The scope and definition of cost accounting. Terminology; classification, overheads, total cost.
  • Cost behavior; distinguishing differences, classes, prediction, analysis.
  • Accounting for labor costs and for material costs; pricing methods, stock valuation, just-in-time.
  • Absorption costing; cost units and centers; activity based costing; overheads, appraisal.
  • Marginal costing systems; revenue statements, contribution, breakeven analysis.
  • Costing short-term decision making. Planning, budgeting; control, zero-based, activity-based.
  • Standard costing and variance analysis, calculation, investigation, appraisal.
  • Capital investment appraisal; techniques, discounted cash flows, risk and uncertainty.