Costing has grew in importance and complexity as the business grew in size, markets become more sophisticated, technology advanced undertook many business activities and the rapid growth of internet business. Management has come to rely more and more on cost accounting to help them in executing their roles. So much so that costing is now vital to an organization’s survival and has grown into a complex area of study.

Certification by PEAK SUCCESS ABUNDANCE – Graduates Your Colleagues

Certification by PEAK SUCCESS ABUNDANCE – With Thanks

Congratulations on Completing the Training by PEAK SUCCESS ABUNDANCE

Participants will learn:

  • Importance of cost control in running a profitable business
  • Standard costing methodology for cost control
  • Variance analysis to identify the bad actors on cost spending
  • Control ratios to monitor cost performance
  • Sale variance to identify the root cause problem
  • Break-even calculation and charts for pricing decision, cost target and profit planning
  • Budgetary control to measure business performance
  • Finance executives and managers
  • Technical executives and managers
  • Human Resource executives and managers
  • Production executives and managers
  • Procurement executives and managers
  • Business planning executives and managers


  • Origin of costing
  • Costing system
  • Costing and Financial Accounting
  • Costing and Management Accounting
  • Accounting for costs
  • Classification of Costs


  • Introduction to Standard Costing
  • Types of Standards
  • Setting Standards and the challenges
  • Revision of Standards
  • Variances
  • Standard Absorption costing
  • Standard Marginal costing
  • Control ratios


  • Material price variance
  • Material usage variance
  • Material mix variance
  • Material yield variance


  • Labor rate variance
  • Labor efficiency variance
  • Idle time variance


  • Variable overhead expenditure variance
  • Variable overhead efficiency variance
  • Fixed overhead expenditure variance
  • Fixed overhead volume variance
  • Fixed overhead efficiency variance
  • Capacity variance


  • Sale value variance
  • Sale margin variance
  • Sales quantity variance


  • Introduction to break-even analysis
  • Construction of break-even charts
  • Assumption of break-even charts
  • Characteristics and limitations of break-even charts
  • Margin of safety
  • Uses in pricing decision and profit planning


  • Benefits of budgetary control
  • Features of budgetary control system
  • Purpose of budgeting
  • Types of functional budget
  • Marginal costing applied to budgetary control
  • Absorption costing applied to budgetary control


A combination of class lectures, exercise, case studies or examples and group discussion. The course will be intensive but practical and highly interactive. Participants are encouraged to participate actively and to ask questions especially pertaining to specific problems.


Lai Su Yin is an ACCA Chartered Accountant having over 20 years of experience in Finance and Accounts field with practical financial skills on various functions. His experiences including managing business operations with business partners to ensure company investments are safe guarded and maximized, reviewing project economic value to ensure the return of investment within the target, analyzed Income Statement and proposed strategic initiatives to enhance profitability,  involved in designing of cost allocation mechanism to ensure the correctness of cost charging, participated in negotiation of facility cost sharing with commercial team, and managing all other financial activities such as general ledger postings, budgeting and variances analysis, month end accrual preparation, reviewing financial statements, cash flow statements and preparing taxation forecast. He also has good track records in conducting many training sessions related to finance and organization improvement. He is a PSMB Certified Trainer.

Academic Profile

  • ACCA – Association of Chartered Certified Accountants
  • PSMB Certified Trainer
  • Degree in Accountancy BA (Hons) – Bolton Institute, UK

Work Experience

  • 20 years of experience in Finance and Account job function (5 years in Manager position):
    • Hands on practice of SAP Finance system and preparing periodic financial performance reports such as budget variance, financial statements, etc for management consumption and decision making
    • Preparing Taxation forecast and generating estimated taxable amount for submission to IRB
    • Coordinating and preparing annual budget, assess the long term cash flow to ensure business profitability and continuity
    • Reviewing Accounting Procedures periodically to ensure processes are in compliance to International Financial Standards
    • Assessing economic value of new projects or business development proposal for prudent decision making
    • Designing SAP Accounting system together with SAP Consultants on WBS coding, Cost Allocation, GST implementation, etc
  • 5 years in Operations Performance Improvement job function:
    • Providing internal consultant services for organization performance improvement such as Situational Assessment including benchmarking and develop an improvement intervention plan for gaps closing
    • Conducting improvement tools training to internal staff and guide them to execute assessment and develop action plans
  • Facilitation/Trainer experiences:
    • Conducted in house and external Finance related training such as Finance for non-finance and Finance for Business Performance
    • Conducted in house Operations Improvement trainings and workshops for organization performance improvements
    • Participated in design of few Teambuilding sessions together with professional teambuilding trainers targeting specific achievements
    • Involved in conducting Finance Professional Skills in house Training on specific subject such as Budget Monitoring, Cost Allocation, etc

Training – Leadership

  • Management Development Program (MDP) (PLC)
  • Corporate Coach (Power+)
  • Leadership and Corporate Coach (Nota Asia)
  • Emotional Intelligence for Leadership Excellence (Global Education Management)
  • Level 5 Manager (P2B Solutions)

Training – Facilitation

  • Train The Trainer (HRDF)
  • OPI ACE Academy (PLC)
  • The Art of Facilitation (PLC)
  • Facilitation Skills (PLC)
  • Teambuilding Program (PLC)
  • TOT on OPI Modules (PLC)
  • High Impact Presentation Skill (PLC)