CPD - Level 3 Certificate in Costing and Budgeting
Make IDEAL Schools your Training Partner
This course is CPD Certified and upon completion of all assignment work you will be awarded Certification via the CPD Service.
This course required you to have the knowledge of the preparation and completion of draft final accounts.Upon completion you will possess an understanding of a business' planning, budgeting and control processes and helping with the decision making within a business, including within a manufacturing environment.
This course is suitable for all who possess a knowledge of the preparation and completion of final accounting reports, e.g. Level 3 AAT, IAB.
Ideal Schools will provide::
- All Study Materials provided in a presentation folder
- 1 year tutorial support via phone, email & 24/7 support via private Facebook groups
- Continuous Self Progress tests & Answers
- 5 x tutor marked assignments
- Continued Career support
- Professional CPD Service Certification
Study Time: Approx 40-50 hours
Distinguish between Financial Accounting and Management Accounting as information systems;
Identify and classify cost by: element, function and nature (behaviour);
Understand the importance of identifying and reporting relevant information.
Accounting for Labour, materials and overheads:
Understand the importance of stock (inventory) control and its valuation;
Determine labour cost;
Determine material costs;
Understand the process of Allocation, Apportionment and Absorption (Recovery) of Overhead.
Identify the characteristics of various costing systems;
Calculate the cost of a job, process or service.
Break even analysis:
Understand the principle of Marginal Costing as an aid to decision making.
Introduction to Budgets and budgetary control:
Prepare a budget for: Income, Labour, Material and Overhead;
Prepare a Cash Budget;
Compare budget to actual performance and analyse the variances for income and the elements of cost.