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The cost concept is fundamental in taking strategic decisions in an entity.


At the end of the program, participants will be able to:

  • derive the basic knowledge about costs identification and effective control measures
  • Apply the essential concepts of accounting, budget, and finance
  • Apply the use of unit cost measurements in performance-based budgeting
  • Maintain strategic cost control
  • Appreciate the importance of reducing unnecessary costs.
  • Determine and apply the cost estimated to produce those outputs and calculate a cost per unit of output.



Fundamentals of Costing

  • Definitions and Terms
  • Types of Costs/Cost Classification
  • Costs elements
  • Costs compilation

Cost Control Application

  • Setting Standard Costing
  • Costs Variance analysis
  • Price /Costs relationship

Manufacturing Cost Concept

  • Direct and Indirect Cost
  • Materials cost
  • Labour costs
  • Overhead cost
  • Job Costing process

Cost Absorption concept

  • Variable Absorption
  • C-V-P analysis

Inventory Cost

  • Definition inventory cost
  • Ascertaining inventory cost
  • Inventory control and management.
  • Stock valuation methods
  • Relevant terms


FOR WHOM:All Accountants, Management and Cost Accountants in Public and Private Sectors. All related functions.
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AM - AKEMSON KONSULT is a Management and Business Development consulting firm with seasoned professionals committed to delivering world class consulting services with the aim of equipping the workforce with current knowledge and skill needed to overcome the challenges confronting businesses and human resources in this globalised business world.

Our Faculty: We have in-house and external resource persons - highly qualified and experienced professionals drawn from both private and public sectors.

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