Cost Accounting - A Comprehensive Study
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Cost Accounting - A Comprehensive Study

Learn basic to advanced concepts in Cost Accounting comprehensively
Bestselling
4.5 (38 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
453 students enrolled
Last updated 5/2017
English
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Includes:
  • 29.5 hours on-demand video
  • 77 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Understand Basics of Cost Accounting
  • Understand Material Costing
  • Understand Labour Costing
  • Understand Overheads Costing
  • Understand Standard Costing Techniques
  • Understand Standard Costing Variances
  • Understand Operating Costing
  • Understand Marginal Costing
View Curriculum
Requirements
  • Basics of Accounting
Description

Welcome to Cost Accounting - A Comprehensive Study Course.

**********************************************************************************************************************************************

Course updated with 6 New Sections and 94 Lectures as on 28th January 2017

Section 8 - Process Costing and Operation Costing

Section 9 - Budget and Budgetary Control

Section 11 - Contract Costing

Section 12 - Joint Products and By Products

Section 13 - Non Integrated Accounts

Section 14 - Job Costing and Batch Costing 

**************************************************************************************************************************************************

Yes! This is a comprehensive course because you are going to learn all the following in this single course:

a) Basics of Costing Accounting 

b) Material costing 

c) Labour Costing 

d) Overheads Costing 

e) Standard Costing Techniques

f) Standard Costing Variances 

g) Operating Costing 

h) Marginal Costing

i) Process Costing and Operation Costing

j) Budget and Budgetary Control

k) Contract Costing

l) Joint Products and By Products

m) Non Integrated Accounts

n) Job Costing and Batch Costing

So, how this course is relevant for you?

If you a Professional course student in the line of Finance or Accounting, then you would have Cost Accounting as part of your major subject. This course will explain theory and practical concepts in Cost Accounting which will help you to excel in Academic Examinations.

If you are an Accounting or Finance or Cost Accounting Executive, this course will help you to brush up you basics in Cost Accounting and all the contents have immediate practical relevance and application.

With this course, you will be able to understand

-basic concepts and processes used to determine product costs;

-understand Cost Accounting Statements;

-solve simple case studies.This course is structured in self paced learning style.Video lectures were used for delivering the course content.

All the sections of this are also available as individual courses.

If you aspire to gain strong foundation in Cost Accounting, then this course is for you.

Happy Learning and Best Wishes!

Who is the target audience?
  • Cost Accounting Students and Executives
  • Accounting Students and Executives
  • Finance Students and Executives
  • MBA Finance Students
  • B.Com., BBA, CA, CMA, CS, CFA, CPA, CIMA Students
Students Who Viewed This Course Also Viewed
Curriculum For This Course
Expand All 286 Lectures Collapse All 286 Lectures 29:29:32
+
Basics of Costing
30 Lectures 03:01:21


Costing, Cost Accounting and Accountancy
02:33

Objectives of Cost Accounting
04:08

Difference between Cost Accounting and Financial Accounting.
05:09

Difference between Managment Accounting and Cost Accounting
03:04

Cost Classifications
02:21

Cost classification based on Time Period
02:31

Cost classifications based on Behaviour
02:52

Committed Fixed Cost and Discretionary Fixed Cost
04:07

Cost classification on the basis of element
02:23

Cost classification based on Relationship
01:31

cost classification based on controllability
02:03

Cost classification based on Normality
02:01

cost classification based on attributability
01:13

Cost classification based on relevance to decision making
05:21

cost classification on the basis of cause and effect relationship
02:04

cost classification on the basis of payment
03:19

cost classification on the basis of function
05:00

cost sheet introduction
02:33

cost classifcation for cost sheet
02:22

Simple cost sheet
04:05

Comprehensive cost sheet
06:53


Cost Sheet Case Study 2
19:39

Cost Sheet Case Study 3
14:21

Cost Sheet Case Study 4
09:15

Cost Sheet Case Study 5
12:39

Cost Sheet Case Study 6 Simultaneous Equation
22:04

Cost Sheet Case Study 7 Find Selling Price per unit
16:29
+
Material Costing
48 Lectures 04:25:35
Introduction to Material Costing
05:59

objectives of material cost controlling
02:21

Requirements of Material cost control
05:57

elements of material cost control
01:22

techniques of material cost control
01:56

Decision making in material purchases
01:24

Material purchase procedure
03:15

supplier selection procedure
02:45

Supplier payment procedure
01:58

Just in Time Purchases
04:01

ABC Analysis
05:45

ABC Analysis Case Study 1
05:22

ABC Analysis Case Study 2
14:18

Valuation of Material Receipts
07:26


Valuation of Material Case Study 2
03:14

Why Storeage of Materials are important and what are Duties of Store Keeper?
02:51

What are Bin Cards?
02:45

What are Stock Control Cards?
01:36

What are Stores Ledgers?
01:58

Difference between Bin Card and Stores Ledger
00:59

Inventory Control
01:18

Settting of Various Stock Levels
00:45

Re-Order Quantity
03:33

Re-Order Level
01:25


Calculation of EOQ and Total Variable Cost Case Study 4
12:40

Evaluation of Exisiting Policy and EOQ Case Study 5
10:19

Evaluation of Discount Offer and EOQ Case Study 6
11:49

Calculation of EOQ Case Study 7
05:35

Calculation of Stock Levels Case Study 8
11:02

Calculation of Stock Levels Case Study 9
18:18

Evaluation of Discount Offer and EOQ Case Study 10
11:00

Calculation of Stock Levels and Danger Level Case Study 11
10:01

Techniques of Inventory Control
00:39

ABC Analysis
06:40

Two Bin System
01:34

Estabishment of System of Budgets
00:52

Other Techniques of Inventory Control
07:58


Application of ABC Inventory Control System Case Study 13
20:00

Case Study - Calculate Sales, SP/Unit and Margin of Safety Sales
07:37

Case Study - Calculate Sales Volume and Margin of Safety
05:11

Case Study - Computation of Break Even Point
02:58

Case Study - Calculate Sales Revenue required to achieve Quarterly Profit
02:40

Case Study - Break Even Point in Units
03:50

Case Study PV Ratio, Fixed Cost and Sales required to earn a given profit
06:11

Case Study Break Even Sales, PV Ratio , Units to be sold for achieving given EBI
08:52
+
Labour Costing
23 Lectures 01:35:31
Introduction to Labour Costing
02:46

Difference between Direct and Indirect Labour Cost
02:23

Labour Cost Control
02:00

Roles of Departments in Controlling Labour Cost
04:01

Factors Controlling Labour Cost
05:38

Collection of Labour Cost
02:34

Time Keeping
04:02

Traditional Methods of Time Keeping
05:14

Mechanical Time Keeping
08:03

Requisites of Good Time Keeping System
02:52

Time Booking
07:04

Reconciliation Gate Card and Job Card
02:38

Objectives of Time Keeping
02:02

Payroll Procedure
03:27

Idle Time
07:05

Overtime Premium
05:39

Effects of OT on Productivity
02:20

Steps for Controlling Overtime
03:10

Labour Turnover
04:30

Labour turnover due to new recruitment
04:45

Causes of Labour Turnover
06:27

Effects of Labour Turnover
03:57

Steps available for minimising labour turnover
02:54
+
Overheads Costing
27 Lectures 03:33:45

Overheads Classification
02:58

Overhead by Functions
06:33

Overheads by Nature
04:47

Overheads by Element
04:52

Overheads by Controllability
02:14

Advantages of classification of fixed and variable expenses
09:02

Accounting and Cotnrol of Manufacturing Overheads
03:52

Steps in estimating and absorbing overheads
10:53

Allocation and Apportionment
02:25

Apportionment Methods of Common Expenses
10:33

Bases of Apportioning Overheads
07:11

Reapportionment of Service Department Overheads
07:04

Case Study on Direct Distribution Method
13:54

Case Study Step Method
06:34


Case Study Repeated Distribution Method
21:35

Case Study Trial and Error Method
19:38

Case Study Re-apportionment of Cost under Repeated Distribution Method
29:03

Case Study Re-apportionment of Cost under Step Method or Step Ladder Method
16:50

Step Method or Non Reciprocal Method
01:41

Reciprocal Services Method
02:34

Methods of Absorbing Overheads to various products or jobs
02:10

Percentage of Direct Materials and Prime Cost Method
04:46

Percentage of Direct Labour Cost Method
01:06

Labour Hour Rate Method
00:55

Machine Hour Rate Method
05:07
+
Standard Costing Techniques
13 Lectures 47:27
Introduction to Standard Costing Techniques
02:55

Standardd Cost Definition
02:55

Setting up of Standard Cost
04:12

Standard Costing Definition
02:23

Physical Standards
03:23

Material Quantity Standards
03:55

Labour Time Standards
04:05

Overhead Standards
01:21

Problems in setting physical standards
06:15

Types of Standards
06:00

Need for Standard Costing
03:25

Process of Setting Standards
01:57

Types of Variances
04:41
+
Standard Costing Variances
17 Lectures 02:29:01
Introduction to Standard Costing Variances
02:06

Material Cost Variance
04:19

Material Price Variance
03:41

Material Usage Variance
09:16

CS Material Cost Variance
05:57

Comprehensive Case Study on Material Cost Variance
11:04

MCV more than one material
15:20

Comprehensive Case Study MCV
28:58

Labour Cost Variance
05:33

Labour Rate Variance
01:40

Labour Efficiency Variance
09:13

Case Study Labour Cost Variance
06:20

Comprehensive Case Study LCV
28:23

Overhead Cost Variance
03:22

Production Volume Variance
08:16

Overhead Expenses Variances
01:32

Variable Overhead Cost Variance
04:01
+
Operating Costing
6 Lectures 01:01:55

Case Study - Composite Units
06:19

Case study bus fare
17:41

Case Study Cost per absolute ton km
18:59

Cost Sheet under Operating Costing
02:19

Case Study evaluation of facilities
12:15
+
Process & Operating Costing
9 Lectures 35:28
Meaning of Process Costing
01:15

Basic features of Process Costing
01:19

Process Costing Procedure
01:57

Operation Costing
01:19

Case 1 Process Costing
10:38

Treatment of Normal Process Loss
01:46

Treatment of AbNormal Process Loss
01:00

Treatment of AbNormal Process Gain
00:57

Case 2 Process costing with Normal Loss, Abnormal Loss & Gain
15:17
+
Budget and Budgetary Control
18 Lectures 01:46:11
Budget and Budgetary Control
05:57

Characteristics of Budget
02:59

Objectives of Budgeting
05:30

Meaning of Budgetary Control and its Salient Features
07:02

Objectives of Budgetary Control System
04:33

Working of Budgetary Control System and responsibilities of Budget Officer
02:40

Advantages and Limitations of Budgetary Control
03:30

Components of Budgetary Control System
01:46

Preparation of Budgets
05:23

Different Types of Budgets
01:04

Fixed Budgets
02:49

Flexible Budget, features, merits and demerits
02:59

Suitability for Flexible Budget
00:52

Difference bettwen Fixed and Flexible Budget
01:53

Case 1 Flexible Budget Recovery Rate per Hour
07:28

Case 2 Flexible Budget (Total Cost Budget)
07:38

Case 3 Flexible Budget and Deviation from Planned Budget
15:23

Case 4 Flexible Budget under Incremental Price
26:45
+
Marginal Costing
27 Lectures 02:12:28

Direct Costing
00:59

Difference between Marginal Costing and Direct Costing
01:58

Differential Cost
01:01

Difference between Marginal and Differential Costing
02:29


Semi Variable Cost
02:19

Marginal Cost Sheet Format
02:54

Marginal Cost Equation
00:50

Absorption Costing Format
01:10

Difference between Marginal Costing and Absorption Costing
03:31

Contribution
00:57

Profit or loss and Contribution
01:41

Decision making Indicators of Marginal Costing
00:29

PV Ratio
03:18

Indifference Point
03:47


Shut Down Point
02:50

Case Study on Segregation of Fixed and Variable Cost
06:12

Case Study Break Even Point
07:40

Case Study on Computation of Sales for Desired Profits
05:00

Case Study on Profit Volume Ratio and Break Even Point
11:30

Computation of Price Volume Ratio and BEP
12:13

Case Study Marginal Costing Basic Computations
16:46

Case Study Profit Volume Ratio and BEP
12:04

Finding Fixed Cost, PVR and Sales
10:17

Marginal Cost Sheet and VC Interpretation
13:26
4 More Sections
About the Instructor
CA Raja Natarajan, B.Com., PGDBA, FCA
4.2 Average rating
835 Reviews
33,220 Students
82 Courses

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.