Financial Control - Costing
Course ID: 260629 0101 1014Proj
Course Dates : 29/06/2026 Course Duration : 5 Studying Day/s Course Location: London, United Kingdom
Language: Bilingual
Course Category: Professional and CPD Training Programs
Course Subcategories:
Business Decision Making Corporate Finance Financial Analysis Financial Planning & Control Performance Management
Course Certified By: Projacs Academy & LondonUni - Executive Management Training
* Professional Training and CPD Programs
Leading to:
Executive Diploma Certificate
Leading to:
Executive Mini Masters Certificate
Leading to
Executive Masters Certificate
Certification Will Be Issued:
From London, United Kingdom
Course Fees:
VAT varies by course location and participant nationality.
Date has passed please contact us Sales@e-s-hub.com
Introduction
Effective costing enables organisations to understand the true cost of products, services, projects, and operations. Accurate cost information supports pricing decisions, profitability analysis, budgeting, and operational improvement. Strong costing practices help managers control expenditure, allocate resources efficiently, and make informed financial decisions.
This five-day course provides practical costing techniques used across finance, operations, and project environments. Participants will learn how to classify costs, apply costing methods, allocate overheads, analyse cost behaviour, and produce costing information that supports planning, decision-making, and financial performance improvement.
Objectives
1. Classify direct, indirect, fixed, variable, and overhead costs using recognised costing principles.
2. Apply practical costing methods, including job, process, activity-based, and standard costing, to products, services, and projects.
3. Allocate overhead costs accurately using appropriate allocation and apportionment techniques.
4. Analyse cost behaviour and profitability to support pricing, budgeting, and operational decision-making.
5. Prepare costing reports that identify cost drivers, improvement opportunities, and recommendations for management.
2. Apply practical costing methods, including job, process, activity-based, and standard costing, to products, services, and projects.
3. Allocate overhead costs accurately using appropriate allocation and apportionment techniques.
4. Analyse cost behaviour and profitability to support pricing, budgeting, and operational decision-making.
5. Prepare costing reports that identify cost drivers, improvement opportunities, and recommendations for management.
Who Should Attend
1. Financial Controllers and Cost Accountants responsible for financial reporting and cost management.
2. Management Accountants and FP&A Professionals supporting budgeting and business analysis.
3. Operations and Production Managers responsible for controlling operational costs.
4. Project Managers responsible for monitoring project costs and profitability.
5. Department Managers and Business Unit Leaders involved in budgeting, pricing, and financial decision-making.
Training Method
• Pre-assessment
• Live group instruction
• Use of real-world examples, case studies and exercises
• Interactive participation and discussion
• Power point presentation, LCD and flip chart
• Group activities and tests
• Post-assessment
If Applicable:
• Each participant receives a 7” Tablet containing a copy of the presentation, slides and handouts
Program Support
This program is supported by:
* Interactive discussions
* Role-play
* Case studies and highlight the techniques available to the participants.
Course Agenda
Daily Schedule (Monday to Friday)
- 09:00 AM – 10:30 AM Technical Session 1
- 10:30 AM – 12:00 PM Technical Session 2
- 12:00 PM – 01:00 PM Technical Session 3
- 01:00 PM – 02:00 PM Lunch Break (If Applicable)
- Participants are expected to engage in guided self-study, reading, or personal reflection on the day’s content. This contributes toward the CPD accreditation and deepens conceptual understanding.
- 02:00 PM – 04:00 PM Self-Study & Reflection
Please Note:
- All training sessions are conducted from Monday to Friday, following the standard working week observed in the United Kingdom and European Union. Saturday and Sunday are official weekends and are not counted as part of the course duration.
- Coffee and refreshments are available on a floating basis throughout the morning. Participants may help themselves at their convenience to ensure an uninterrupted learning experience Provided if applicable and subject to course delivery arrangements.
- Lunch Provided if applicable and subject to course delivery arrangements.
Week 1
Day 1 – Foundations of Costing
1. Costing Principles
- Purpose of costing systems
- Types of organisational costs
- Cost classification methods
2. Cost Behaviour
- Fixed and variable costs
- Semi-variable costs
- Identifying cost drivers
3. Cost Collection
- Gathering cost information
- Recording direct and indirect costs
- Preparing cost records
Day 2 – Costing Methods
1. Job Costing
- Calculating job costs
- Assigning direct labour and materials
- Monitoring job profitability
2. Process Costing
- Applying process costing techniques
- Calculating unit costs
- Managing production costs
3. Activity-Based Costing
- Identifying business activities
- Allocating overheads using cost drivers
- Comparing traditional and activity-based costing
Day 3 – Overhead Allocation and Cost Analysis
1. Overhead Allocation
- Allocating indirect costs
- Selecting allocation bases
- Improving allocation accuracy
2. Cost Analysis
- Analysing cost structures
- Identifying cost trends
- Measuring cost efficiency
3. Cost Control
- Monitoring operational costs
- Identifying cost reduction opportunities
- Supporting management decisions
Day 4 – Costing for Decision-Making
1. Profitability Analysis
- Analysing product and service profitability
- Evaluating customer profitability
- Supporting pricing decisions
2. Standard Costing
- Establishing standard costs
- Comparing actual and standard performance
- Analysing cost variances
3. Cost Reporting
- Preparing costing reports
- Presenting management recommendations
- Supporting strategic planning
Day 5 – Practical Costing Workshop
1. Costing Exercise
- Applying costing methods
- Calculating product or project costs
- Allocating overheads accurately
2. Cost Analysis Simulation
- Evaluating cost performance
- Identifying improvement opportunities
- Presenting costing recommendations
3. Cost Management Planning
- Reviewing costing effectiveness
- Identifying process improvements
- Course review, feedback and implementation planning
