Who Can Benefit

• Controllers
• Senior finance managers
• Executives and those with expertise in their own fields who need to acquire expertise in financial management

Course Objectives

•  Understand the basic cost terminology of accounting and controls
• Determine cost recovery factors
•  Define activity and effectiveness
• Understand capital investment and operating expenses
• Identify the interrelation between market price, production line and capital
•  Understand operating cost carryover expense and ceiling of recovery.
• Be aware with concession agreement and cost recovery

Course Outline

• Cost Terms

•  Key Cost Concepts: Cost, Loss, and Waste.
•  Expense and Expenditure
• Inventoriable and Non-inventoriable (Product and Period) Costs
•  Manufacturing and Non-manufacturing
• Direct and Indirect Costs
•  Fixed and Variable Costs
• Actual and Standard Costs
•  Cost Centers and Cost Allocation

• Cost recovery factors, activity and effectiveness

• Recoverable Costs
• Recoverability Order
• Limits on Recoverability
• Cost Recovery Activity Statement

• Capital investment and operating expenses
•  Interrelation between market price, production line and capital
•  Operating cost carryover expense and ceiling of recovery.
• Concession Agreement and Cost Recovery