Introduction
Costing course adapted from The ILO IYB training programme explains entrepreneurs how to calculate the cost of the goods or services offered by their business. Knowing your costs helps you set the appropriate prices so that your business makes a profit. It also helps you to control costs, make decisions and plan for the future. The purpose of this manual is to teach you how to calculate the cost of your goods or services. In this manual, you will examine different types of costs and learn how different businesses calculate their costs
Who will benefit
Costing is one of the manuals in the Improve Your Business (IYB) series. It is useful for entrepreneurs who run small enterprises and who wish to develop their businesses, increase sales and reduce costs. The costing method discussed in this manual is based on business records. Therefore, this manual is recommended for entrepreneurs whose businesses have kept business records. If your business has not kept business records, please refer to Start Your Business (SYB) manual for a simpler way of costing.
Objectives of the course:
When you have completed this manual, you should be able to:
- Identify the different types of costs for running a business
- Use the information from your business record books to calculate the cost of your goods or services
- Use the Product Costing Form to calculate the cost of a good or service
Course duration
Depending on the participants’ time availability, the course will take from one day to three days. We recommend the participants especially who run their own business to take the course and complete it within two days
Cost