Financial Management - Costing
Course ID: 260706 0101 163ESH
Course Dates : 06/07/2026 Course Duration : 5 Studying Day/s Course Location: London, United Kingdom
Language: Bilingual
Course Category: Professional and CPD Training Programs
Course Subcategories:
Corporate Finance Financial Analysis Financial Planning & Control Leadership & Management Development Strategic Management
Course Certified By: ESHub CPD & 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
Accurate costing shows which products, services and projects make money. This course teaches practical methods to measure, allocate and control costs. You will apply standard costing, activity-based costing and variable costing to real examples. The focus is on producing budgets, cost reports and pricing inputs you can use immediately.
Objectives
1. Calculate unit and product costs using standard, variable and activity-based costing methods.
2. Prepare cost estimates and operating budgets linked to activity drivers and production plans.
3. Perform variance and margin analysis to identify cost drivers and improvement opportunities.
4. Implement basic cost-control procedures and set up periodic cost reporting.
5. Use cost information to support pricing, make-or-buy and short-term decision making.
2. Prepare cost estimates and operating budgets linked to activity drivers and production plans.
3. Perform variance and margin analysis to identify cost drivers and improvement opportunities.
4. Implement basic cost-control procedures and set up periodic cost reporting.
5. Use cost information to support pricing, make-or-buy and short-term decision making.
Who Should Attend
1. Cost accountants
2. Management accountants
3. Financial controllers and accounting managers
4. Production or operations managers responsible for costing and budgets
5. Project managers with direct cost and budget accountability
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 Cost Management
1. Principles of Costing
- Purpose of cost management
- Cost terminology and classifications
- Costing in business decision-making
2. Cost Behaviour
- Fixed, variable, and semi-variable costs
- Direct and indirect costs
- Understanding cost drivers
3. Cost Collection and Allocation
- Collecting cost information
- Allocating overhead costs
- Preparing basic cost schedules
Day 2 – Costing Methods
1. Standard Costing
- Establishing standard costs
- Comparing actual and standard costs
- Monitoring cost performance
2. Variable Costing
- Calculating contribution margins
- Separating fixed and variable costs
- Supporting short-term decisions
3. Activity-Based Costing (ABC)
- Identifying business activities
- Assigning costs to activity drivers
- Calculating product and service costs
Day 3 – Cost Planning and Analysis
1. Cost Estimation
- Preparing cost estimates
- Forecasting production costs
- Supporting operational planning
2. Budget Preparation
- Developing operating cost budgets
- Linking budgets to production plans
- Monitoring budget assumptions
3. Variance and Margin Analysis
- Analysing cost variances
- Measuring profit margins
- Identifying cost improvement opportunities
Day 4 – Cost Control and Decision-Making
1. Cost Control Procedures
- Establishing cost control measures
- Monitoring operational costs
- Reporting cost performance
2. Pricing Decisions
- Using cost information for pricing
- Assessing pricing alternatives
- Supporting profitability analysis
3. Management Decision Support
- Performing make-or-buy analysis
- Evaluating short-term financial decisions
- Assessing financial implications of alternatives
Day 5 – Practical Cost Management Workshop
1. Product Costing Exercise
- Calculating unit and product costs
- Applying multiple costing methods
- Comparing costing results
2. Cost Analysis Simulation
- Preparing cost reports
- Performing variance analysis
- Recommending cost improvement actions
3. Cost Management Review
- Reviewing costing techniques
- Identifying continuous improvement opportunities
- Course review, feedback and implementation planning
