Certified Cost Management Professional [CCMP]-1st Batch

By the end of this program, participants will be able to:

• Understand the Fundamentals of Cost Management – Develop a clear understanding of cost structures and cost management strategies.
• Learn Cost Accounting Principles – Gain knowledge of cost classification, allocation, and absorption.
• Apply Management Accounting Techniques – Use management accounting data to make informed business decisions.
• Implement Activity-Based Costing (ABC) – Learn how to allocate costs more accurately using ABC methods.
• Develop and Manage Budgets – Understand how to create and control budgets effectively.
• Perform Performance Measurement and Variance Analysis – Develop methods to measure performance and identify variances.
• Manage Project Costs – Learn how to control project costs and improve profitability.
• Improve Traditional Cost Management Systems – Develop methods to modernize cost management frameworks.
• Create a Cost-Conscious Culture – Promote cost awareness and accountability within the organization.
• Use Forecasting for Decision-Making – Apply forecasting techniques to anticipate and manage financial outcomes.

Modules: 

M-1: Fundamentals of Cost Management
M-2: Introduction of Cost Accounting
M-3: Introduction to Management Accounting
M-4: Activity-Based Costing
M-5: Budget and Budgetary Control
M-6: Budgeting & Forecasting
M-7: Performance Measurement & Variance Analysis
M-8: Project Cost Management
M-9: Traditional Cost Management Systems
M-10: Cost Management- a Culture to be Nurtured

Upon completing the program, participants will be able to:

• Design and implement a comprehensive cost management strategy.
• Apply cost accounting principles to improve financial reporting and control.
• Allocate costs accurately using activity-based costing (ABC).
• Develop and monitor budgets to control expenses effectively.
• Analyze and interpret performance variances to improve financial outcomes.
• Identify cost-saving opportunities and implement cost reduction strategies.
• Improve project profitability through effective cost management.
• Develop a culture of cost awareness and accountability.
• Use management accounting insights to support strategic decision-making.
• Improve overall business performance through effective cost control.

This program is Validated and Quality Assured by Cambridge Academy of Professionals (CAP) UK. [www.acbrimdgeacademy.uk/]

Features:
Duration: 4 Months
Class: 10 Sessions
Class schedule: Friday 02:00 PM - 04:00 PM GMT
Short Video Material: Will be Provided
Mode of Learning: Virtual Class (Via Zoom)

Exam Method:

• Online MCQ Exam 
• Number of Questions: 50
• Exam Duration: 60 Minutes
• Total Marks: 100
• Pass Mark: 70%

Assignment: 

• Total Assignments: 05
• 01 Pre-Course Assignment (Learning Purpose)
• 03 In-Course Assignment
  • Each Assignment Marks: 100
  • Pass Mark: 70%
• 01 Capstone Projects
  • Assignment Marks: 300
  • Pass Mark: 70%

• 10 Practical Focus Module
• Post Completion:
  • Electronic Certificate
  • Digital Badge via Credly.com
  • Printed Certificate available

• Cost Accounting
  • Proficiency in classifying, allocating, and controlling costs.
• Management Accounting
  • Skill in using financial data to support business decisions.
• Activity-Based Costing
  • Competence in accurately assigning costs to activities.
• Budgeting and Forecasting
  • Ability to develop and manage budgets effectively.
• Variance Analysis
  • Expertise in identifying and addressing performance deviations.
• Project Cost Management
  • Ability to manage project costs and improve profitability.
• Performance Measurement
  • Skill in measuring and improving financial and operational performance.
• Cost Culture and Strategy
  • Ability to develop a cost-conscious organizational culture.