Public sector organizations are regularly being challenged to improve on their performance in a very dynamic and resource constrained environment. One way to manage and improve performance in the public sector is to understand their costs and the behavior of factors that drive their costs. Better cost information enables public sector managers in decision making, reviewing and understanding how efficiently and effectively public resources are used. This programme therefore, provides a solid foundation in understanding costing in the public sector.
WHO SHOULD ATTEND?
Accountants, finance officers, budget officers and managers who appreciate and apply cost accounting principles in their work.
HOW PARTICIPANTS WILL BENEFIT
At the end of the course, participants will be able to:
Appreciate the importance and role of cost accounting
Understand the role of relevant costing in the public sector
Appreciate how cost accounting assist public sector management processes
Obtain information on the costing process from internal, external and investments made
Obtain information for management analysis and control
Overview of costing and cost accounting: from a management perspective;
Importance of cost accounting in public sector;
Techniques of cost accounting:
i) marginal costing,
ii) absorption costing
iii) cost benefit analysis,
iv) capital investment appraisal
v) activity based costing
Standard costing and variance analysis.