At Imperial Corporate Training Institute, the Cost Accounting and Audit Procedures Training Course teaches participants about cost accounting and how to carry out audits of companies’ financial records. In this course, participants will gain knowledge of the various methods for allocating costs, budgeting, variance analysis as well as the techniques necessary to help improve and evaluate financial effectiveness. This course is designed to provide professionals with theoretical knowledge together with practical skills required to prepare financial reports accurately and comply with internal controls.
The training course also focuses on the audit process of cost accounting by help and encouraging participants to identify variances, evaluate the actual versus depending on budgeted costs of doing business, and then use the data gained through audits to rectifying discrepancies, evaluating how the organisation’s operations are operating, and implementing changes accordingly. This integration of cost accounting expertise with auditing proficiency will provide participants with the ability to enhance their ability to make better business decisions, optimize the use of an organization’s resources, and preserve the financial integrity of the organization. The curriculum has been modified to accommodate the needs of today’s constantly evolving business world and also to incorporate Accounting Standards, Auditing Standards, and Best Practices.
Objectives
By the end of this course, participants will be able to:
- Define cost accounting and cost classifications.
- Perform the various cost analyses, cost control, and cost cutting techniques in detail.
- Need to evaluate the cost-related financial statement by utilizing the advanced audit procedures.
- Need to identify any errors, instances of fraud, or any inefficiencies in your cost accounting system.
- Create and put into effect your own internal control procedures to ensure the accuracy of your financial data.
- Perform variance analysis as well as provide recommendations to management.
- Have knowledge of the different regulatory requirements and audit standards.
- Need to use the insights learned in cost accounting to develop several strategies for making decisions.
Target Audience:
This Course is intended for:
- Individuals working as accountants and auditors who wish to expand their knowledge and skills in cost accounting and auditing.
- Individuals working as financial analysts and controllers who prepare budgets and manage costs.
- Individuals working as internal auditors and have responsibility for evaluating the efficiency of the operations of an organization.
- Individuals working as finance managers and executives want to improve the process used to make financial decisions.
- Individuals who own businesses and are looking for insight into their cost structure.
- Individuals preparing to take certification examinations related to accounting and auditing.