Cost Accounting Basics (Professional Course Level)

Learn the basic aspects of Costing to have control over profits.
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  • Lectures 23
  • Length 1.5 hours
  • Skill Level Beginner Level
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 12/2014 English

Course Description

This course is about Cost Accounting Basics.

Costing and Cost Accounting is very important subject for every learner who aspires career in Finance and Entrepreneurship.

Knowledge of Costing and Cost Accounting will equip the learner to find the areas where the cost of the business is going up and affecting the profits. It would enable the learner to understand the importance of Cost Control and Cost reduction to improve the profits of the business.

In this course, students will learn about

a) What is Costing?

b) What is Costing, Cost Accounting and Cost Accountancy?

c) What are the objectives of Cost Accounting?

d) What are the difference between Financial Accounting, Cost Accounting and Management Accounting?

e) What are the classifications of Cost?

f) What is Cost Sheet?

This course uses basic terminologies.

Video lectures in virtual teaching model is used to have feel of attending class rooms.

This course is structured in self learning style.

Take this course to understand the Basic Concepts of Cost Accounting.

What are the requirements?

  • This course is Introductory in nature.
  • Any one interested in knowing about costing can take this course.

What am I going to get from this course?

  • Understand basic concepts of Costing
  • Understand basic process in determining cost
  • Understand Cost Accounting System
  • Understand objectives of Cost Accounting
  • Understand difference between Cost Accounting, Financial Accounting and Management Accounting
  • Understand various classifications of cost
  • Understand Cost Sheet
  • Understand Methods of Costing

Who is the target audience?

  • This course is meant for any one who would like to know about Cost Accounting
  • This course is also useful for Finance Students who have Costing as their Subject
  • This course is useful for Finance Graduates, CA, CMA, CS, CPA, CIMA, CFA students
  • Finance Managers and Cost Accounting Course Students

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.


Section 1: Introduction to Costing
Introduction to Basic Cost Concepts
Costing, Cost Accounting and Accountancy
Objectives of Cost Accounting
Difference between Cost Accounting and Financial Accounting.
Difference between Managment Accounting and Cost Accounting
Section 2: Cost Classifications
Cost Classifications
Cost classification based on Time Period
Cost classifications based on Behaviour
Committed Fixed Cost and Discretionary Fixed Cost
Cost classification on the basis of element
Cost classification based on Relationship
cost classification based on controllability
Cost classification based on Normality
cost classification based on attributability
Cost classification based on relevance to decision making
cost classification on the basis of cause and effect relationship
cost classification on the basis of payment
cost classification on the basis of function
Section 3: Cost Sheet
cost sheet intro
cost classifcation for cost sheet
Simple cost sheet
Comprehensive cost sheet
Bonus Lecture - Discount Coupon Links for other Courses
8 pages

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Instructor Biography

I am a Chartered Accountant with tonnes of passion for teaching.

I teach Financial Management & Strategic Financial Management for Chartered Accountancy, Cost and Management Accountancy and Company Secretary students in Ernakulam, India. I also hold Post Graduate Diploma in Business Administration in Finance from Symbiosis, Pune and Bachelors in Commerce, from Loyola College, Chennai.

I worked in State Bank of India as Assistant Vice President - Credit for a period of four years after which i started my Chartered Accountancy Practice. During the stint in State Bank of India, I worked on credit proposals of Mid Corporate Units and gained good experience in Financial Analysis, Risk Assessment, Viability Study, Evaluating business models, Project Finance, Working Capital Management, etc.

I conduct work shops for Entrepreneurs, Chartered Accountancy / Cost and Management Accountancy Students on the topics like Project Finance, Credit Risk Assessment, Entrepreneurship Development, Finance for Non Finance Executives, etc.

I love teaching and i want fundamentals of accounting and finance to reach students and so i am here.

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