Cost Accounting and Artificial Intelligence Tools: Part 1
What you'll learn
- Learn the basics of cost accounting and its principles
- Know about the various branches of accounting
- Learn about the limitations of financial accounting
- Be aware of the objectives and functions of cost accounting
- Learn about the classification of cost
- Understand the truth that various Artificial Intelligence accounting tools exist in the internet to automate the whole accounting process
Requirements
- Basic English Knowledge is necessary.
Description
Ready to learn the basics of cost accounting with a glimpse of Artificial Intelligence technology usage in accounting?
Cost accounting is an important aspect of an accounting policy that calculates the total cost of producing an item or providing a service by looking at all costs within the supply chain. It is done for the purpose of planning the budget and evaluating productivity. It is helpful to administrators to assess which goods, units or programs are most efficient and which ones require enhancement.
Cost management includes assessing expenses that are fixed and adjustable. Fixed costs are losses that recur each month regardless of the manufacturing rate. Types cover leasing, depreciation, loan interest and rental charges. Dynamic costs are expenditures that fluctuate with shifts in the level of production, such as costs of inventory, labour and maintenance. Such costs are related to manufacturing in that the higher the units of a product produced, the greater the price associated with the materials and labour involved in the production of the item.
This incredible course titled "Cost Accounting and Artificial Intelligence Tools: Part 1" created by Marketing Legend Srinidhi Ranganathan and Practicing Cost and Management Accountant Ravi Pacha covers the following aspects of cost accounting which include: The meaning of cost accounting, various branches of cost accounting, functions of cost accounting, classification of cost etc. Furthermore, we will walk you through some mind-blowing tools that leverage Artificial Intelligence in the field of Accounting to automate the complete accounting processes. While digital technology has evolved over the years, we've switched from tv to the Internet, and we're integrating Artificial Intelligence seamlessly and slowly today. John McCarthy coined the term AI for the first time in 1956. It involves many of the main things that range from robotics process automation to the actual robotics process. Because of the amount of data these type of organisations are working with, it has become highly popular with large companies today. Increasing demand for information pattern awareness has contributed to growth in AI market. AI models are much more successful at detecting information trends than people, which help companies understand and gain insight into their target audience. Thousands of businesses around the world see AI as the next big thing for the finance industry.
Artificial Intelligence can be used widely for financial transaction auditing systems. AI can also be a great help when it comes to processing a large number of pages for tax changes. Organisations dependent on AI can be expected to make major firm-related decisions in the near future. AI also has the ability to identify how consumers should respond to different circumstances and problems. Artificial Intelligence can help people and businesses make smarter choices at a very fast pace. But the key here is to find the right human-machine balance.
Get ready to go wow. Join this course now and let's start booming. Learn some great stuff here.
Who this course is for:
- Small Business owners, Accountants and Managers
- College Students who are studying accounting as a subject
- Bookkeepers, CPA & CMA Candidates
- Anyone who is passionate to learn cost accounting and artificial intelligence technology tools in the field of accounting
Course content
- Preview01:04
- 01:05Cost Accounting: Basics Lecture
- 03:04Cost Accounting: Basics: Lecture (Continued)
- Preview14:25
- 02:12Cost Accounting Basics: More insights
- 13:54Artificial Intelligence in Finance and Accounting: Ravi Pacha Explains
- 16:45Artificial Intelligence technology in Finance industry for industry domination.
- 03:37Bonus Lesson
Instructors
![Srinidhi Ranganathan](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 64 64"%3E%3C/svg%3E){kind=avatar}
- 3.8 Instructor Rating
- 14,726 Reviews
- 512,809 Students
- 94 Courses
Srinidhi Ranganathan is the Founder and CEO of FirstLookAi (India's First Artificial Intelligence Powered Digital Marketing company in Bangalore, India). He is a Technologist, Digital Marketing Coach, Author and Video Creation Specialist with over 10+ years of experience and has worked at top companies in India. Having over 4.9 Lakh students on Udemy - he has facilitated digital marketing analysis and provided state-of-the-art marketing strategy ideas and tactical execution plans for top marketing companies in India including startups, SMB's and MNC's. This includes strategic brainstorming sessions, market analysis, market research related to digital performance, support of various marketing initiatives for new product and consumer promotional launches, etc.
Srinidhi gained his popularity through his unique, practical yet engaging training methodologies he utilizes to teach during the training sessions. Some of his training methods include gamified learning experiences conducted by virtual robots like Aera that prompts behavioural changes in students and brings forth a new kind of fascination among the crowd. His passionate fans call him "Digital Marketing Legend' and he's busy working on creating new virtual and humanoid robots to revolutionise education in India.
- 3.3 Instructor Rating
- 24 Reviews
- 6,671 Students
- 1 Course
I'm an experienced Practicing Cost and Management Accountant. Having served in public sector companies for over 37 years, I specialise in cost and management accounting. I have done several projects in Procurement of materials, Tendering system, Purchase procedures, following KTPP Act and Rules. Open Tender System, Closed Tender System, Technical Bids and Financial bid system. Emergency purchases, Market risk purchases, Scrutiny of the Comparative Statement for procurement of materials. I've also handled Purchase and Stores Management and arranged for scrutiny of Purchase proposals. I've also served as a member of Purchase Negotiation Committee for Goods and Services, and recommending to the Approving Authority for Purchases.
I've also done Financial Planning and control, Follow up of Government grants and subsidies, Finalisation of Accounts, MIS, Budget and Budgetary control, Monthly performance reports, Introduction of Accounting systems, Computerisation of Cost Accounts and Financial Accounts. Preparation of Fund Flow and Cash Flow statements, Performance Reports to the Board, Preparation of Product wise Cost sheets for Managerial decisions, Price fixations etc.,
I am proud to teach on Udemy.