Cost Accounting and Cost Management in Oil Refineries
This comprehensive course is designed to provide participants with a deep understanding of cost accounting and cost management specifically tailored to the unique challenges and intricacies of the oil refining industry
- Course Schedule
Classroom Sessions:
| Date | Venue | Price |
|---|
09 - 13 Sep 2025
London - UK
$ 5,950
09 - 13 Sep 2025
Online
$ 3,950
- Course Description
INTRODUCTION
This comprehensive course is designed to provide participants with a deep understanding of cost accounting and cost management specifically tailored to the unique challenges and intricacies of the oil refining industry. Participants will gain valuable insights into optimizing cost structures, enhancing profitability, and making informed financial decisions within the dynamic and complex environment of oil refineries.
WHY IT MATTERS
Effective cost accounting and management are critical for the sustainable operation and success of oil refineries. In an industry characterized by volatile commodity prices, regulatory challenges, and global market dynamics, accurate cost analysis and strategic cost management play a pivotal role in maintaining competitiveness, maximizing efficiency, and ensuring financial sustainability.
OBJECTIVES
- Acquire a thorough understanding of cost accounting principles as applied to oil refineries.
- Develop skills to analyze and interpret cost data for decision-making.
- Learn techniques for optimizing cost structures and identifying cost-saving opportunities.
- Gain insights into the integration of cost management with overall refinery strategy.
- Enhance the ability to implement effective cost control measures in response to industry challenges.
WHO SHOULD ATTEND ?
This course is ideal for professionals working in the oil refining industry, including but not limited to:
- Finance Managers
- Cost Accountants
- Plant Managers
- Operations Managers
- Project Managers
- Strategic Planners
- Procurement Managers
- Those involved in financial decision-making within oil refineries
- Course Outline
DAY 1
Introduction to Cost Accounting in Oil Refineries
- Overview of Oil Refining Industry
- Importance of Cost Accounting
- Cost Structures in Refineries
DAY 2
Principles of Cost Accounting
- Cost Classification and Behavior
- Job Order Costing in Refineries
- Process Costing in Refineries
DAY 3
Cost Analysis and Decision-Making
- Cost-Volume-Profit Analysis
- Relevant Cost Analysis
- Capital Budgeting in Refineries
DAY 4
Cost Management Techniques
- Activity-Based Costing in Refineries
- Target Costing
- Value Analysis and Value Engineering
DAY 5
Integration with Strategic Management
- Aligning Cost Management with Overall Strategy
- Key Performance Indicators for Cost Management
- Case Studies and Practical Applications
- Options & Brochure