Mastering Costing Techniques & Pricing Decisions Workshop

24-25 May, 2017, Hotel Istana

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HARI RAMULU MUNUSAMY is a Business Financial Consultant cum Lecturer, with wide experience in public practice and in financial management & public sector accounting, auditing and taxation educational process, having been in the profession and industry since October 1976.

 

He started his career with Messrs F. H. Eiles & Co., a firm of Chartered Accountants in London as an Audit Assistant in October 1976. Subsequently, he continued his career as an Audit Supervisor with Messrs Coopers & Lybrand (now known as PricewaterhouseCoopers), Kuantan in May 1984. In January 1986 he joined Messrs Senthe & Co (a firm of Chartered Accountants in private practice in Petaling Jaya), as an Audit Manager, till December 2006. Over the years, he gained knowledge, experience, skills and expertise in accounting, auditing and taxation services including tax investigation, forensic accounting and company floatation.

 

Between 1993 and 2006, he had conducted seminars and courses in financial accounting, internal auditing, external auditing, and taxation to practitioners and general public. Notable and worthy of mention are: taxation seminars for Permodalan Nasional Berhad (PNB), auditing for FELDA, forensic accounting for ROYAL CUSTOMS MALAYSIA, and executive accounting and financial statements analysis course for Pahang ADUNs through Yayasan Pahang. He was the unofficial consultant to the State Secretary and Chief Minister of Pahang from 1997 to 2000.

 

He is deemed to be a prolific presenter with excellent commendations from participants. In 2008 he presented several seminars relating to taxation, costing, budgeting, financial statements analysis, accounting standards, preparation of financial statements, and forensic accounting. Professionally, he is a Fellow member of the Association of Chartered Certified Accountants of UK, a Chartered Accountant of the Malaysian Institute of Accountants, an Associate member of the Malaysian Institute of Taxation, a Chartered member of the Institute of Internal Auditors of Malaysia (affiliate of USA), and an Associate member of the Certified Fraud Examiners of USA. His academic qualifications are: Diploma in Accountancy (Newcastle-Upon-Tyne, England), and Master of Business Administration (Accounting) from University of Newcastle, USA.

Venue Details

Hotel Istana
73 Jalan Raja Chulan, 50200 Kuala Lumpur,
Phone : 03 2141 998
Fax : 03 2144 0111

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03 2283 6109
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FOCUSING ON
  • Introduction on Costing
  • Absorption Costing
  • Activity Based Costing
  • Marginal Costing
  • Costing Techniques
  • Budgeting
  • Standard Costing and Variance Analysis
  • Pricing Decision
OBJECTIVES

Every company’s survival and progress, depends on the basis of proper estimation of its costs and estimation of product or service pricing. Every cost conscious executive, specific project manager, cost estimator, planner or organization is in need of improving their cost estimation success.

 

This course endeavors to illustrate and explain how to develop costs and how they can be used not only to estimate the product cost, but also how to use them to determine a competitor’s likely bid price. It explores the estimating methods typically used to estimate costs and explains the advantages and disadvantages of each, demonstrate several estimating methods, and includes a cost estimating methodology that participants can tailor to their own organizational needs.

WHO SHOULD ATTEND

Cost and Accounts’ Executives, Managers, Directors, Planners and Analysts

METHODOLOGY

Interactive Lectures, Case Studies and Discussion

AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Describing Costs by Classification.
  2. Identifying Appropriate Cost Elements.
  3. Explaining and Understanding the Role of Management Accounting Within an Organization and the Importance for the Requirement of Management Decision Making Information.
  4. Demonstrating Knowledge and Application of the Principles of Management Accounting in Planning, Monitoring, Pricing, and Various Decision Making Processes, that are deemed to Reduce Risk Factors Related to the Organization.
DAY 1
9:00 Session 1: INTRODUCTION ON COSTING
  • Role of management and function
  • Cost data and information for decision making process
  • Cost behavior
10:45 Session 2: ABSORPTION COSTING
  • Absorption costing
  • Overhead allocation, apportionment and absorption
  • Product cost (pricing) based on absorption costing
1:00 Lunch

2:00

Session 3: ACTIVITY BASED COSTING

  • Activity based costing (ABC)
  • Product cost (pricing) based on ABC
  • ABC versus Absorption costing
3:45 Session 4: MARGINAL COSTING
  • Marginal costing
  • CVP analysis
  • Product cost (pricing) based on marginal costing
  • Marginal costing versus absorption costing
5:00 End of Day 1
DAY 2
9:00 Session 1: COSTING TECHNIQUES
  • Other costing techniques
    (Job, Batch, Contract, Service, Process costing)
10:45 Session 2: BUDGETING
  • Forecasting
  • Budgetary process
1:00 Lunch

2:00 Session 3: STANDARD COSTING AND VARIANCE ANALYSIS
  • Standard costing
  • Variance analysis
3:45 Session 4: PRICING DECISION
  • Pricing (importance, factors affecting pricing)
  • Price elasticity
  • Full cost plus pricing
  • Marginal cost plus pricing
  • Opportunity cost
  • Fixed price tenders
5:00 End of Course