Cost Accounting

Cost Accounting from Basics to Advanced - Including Case Studies

4.60 (19 reviews)
Udemy
platform
English
language
Accounting & Bookkeeping
category
Cost Accounting
89
students
11 hours
content
Jan 2020
last update
$19.99
regular price

What you will learn

This course is aimed at providing detailed and comprehensive knowledge on costing techniques including the traditional and modern business environment.

Calculate cost of production, cost per unit of product or service or for one department

Preparing Budgets

Calculating variances and comparing the actual results with the budgeted results

Description

COURSE OVERVIEW
Costing is one of the most important and fundamental knowledge area in any business.  The ultimate objective of any business is supposed to be profit and certainly profit is a function of cost.  The success of a business does not solely depend on its revenue but also more importantly on how a business manages its costs. 

Businesses fail not due to lack of revenues but due to uncontrolled costs.  In order to control the business costs it is important to first understand the costs.  Costs lie within products, processes, systems, departments and activities.

DETAILED SYLLABUS (TOPIC LIST)

- Types of Costs – Cost Classification
- Cost Behavior
- Material Costs
- Case Study
- Labor Costs
- Costing for Overheads – Absorption Costing
- Case Study
- Marginal Costing
- Job, Batch and Service Costing
- Process Costing
- Case Study
- Costing for Joint and By Products
- Case Study
- Alternative Costing Techniques
- Activity Based Costing – ABC
- Case Study
- Target Costing
- Throughput Accounting
- Case Study
- Life Cycle Costing

ABOUT INSTRUCTOR
I am a qualified accounting and finance professional with over twenty years of professional experience. I have been teaching accounting and finance courses for over fifteen years and have taught more than twenty thousand delegates including students, young accountants, chief accountant and finance managers.

Content

Cost Classifiction

Types of Costs - Fixed and Variable Costs, Direct and Indirect Costs
Production, Non Production and Administrative Costs

Cost Bahaviour

Changes in costs at different activity levels
High Low Method - Total costs and costs per unit

Material Costs

Inventory Control
Ordering, receipt and issue of inventory and related costs
EOQ - Economic Order Quantity considering the holding costs and ordering costs
Case Study

Labor Costs

Labor Costs - Remuneration Methods
Direct and Indirect Labor Costs

Absorption Costing

Introduction to Overheads
Absorption Costing
Predetermined OAR (Overhead Absorption Rate) Under and Over Absorption
Case Study

Marginal Costing

Marginal Costing and how it differs from Absorption Costing

Job, Batch and Service Costing

Job order costing
Batch costing and service costing

Process Costing

Process Costing Introduction
Process Costing - Explained With Help of a Simple Example
Process Costing - Normal Loss and Abnormal Loss
Process Costing - Work in Process (WIP)

Process Costing, Joint and By Products

Joint and By Products Explanation
Case Study

Activity Based Costing

Modern Business Environment - Introduction
Activity Based Costing - ABC
Quality and Costs Associated With Quality
Life Cycle Costing and Target Costing

Throughput Accounting

Throughput Accounting - Complete Lecture
Case Study + Target Costing

Life cycle Costing

Learning Curve and Life Cycle Costing

Reviews

Alexey
May 26, 2022
The course is worth money and time to invest. It is both well-structured and well-explained. 1 or 2 topics are not supported with the handouts, while the rest have PDFs attached. Sometimes the sound of the tutor was not good, although it was sufficient to get the material. I would definitely recommend the course both to junior finance experts and for the ones, who want to refresh the concepts in a structured manner.

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Related Topics

2742928
udemy ID
1/6/2020
course created date
1/9/2020
course indexed date
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