Welcome to the course.
This video tutorial traverses through understanding of Costs and how they differ from Expenses. Classification of costs into direct vs indirect, fixed vs variable, discretionary vs committed and understanding how costs are classified into product versus period costs. Finally we'll see cost accounting of joint products & by-products.
In this tutorial, you will learn --
Section-1 - Costs vs Expenses - Learn how costs differ from expenses. This section introduces you as a learner to costs and links economics with accounting and depicts how inter-linkage & difference between costs and expenses.
Section-2 - Classification of Costs - This section focuses on understanding of how costs play a role in the industry and are classified into -
-- Product vs Period costs
-- Fixed vs Variable vs Mixed costs
-- Discretionary vs Committed costs
-- Sunk vs Marginal costs
Section-3 - Joint Products & By-products - Learn how cost accounting of joint & by-products works. This section focuses on -
-- Understanding of joint vs by-products
-- Methods of accounting of joint products
-- Accounting of by-products
-- Numerical solutions for accounting of joint & by-products
All explanations are based on CMA-USA-Part-1 syllabus which is considered as gold-level standard for management accounting profession. Teaching methodology is based on join-thedots pedagogy inter-linkage of multi-discipline subjects, a very powerful tool for aspiring leaders.
This course is suitable for candidates pursuing CMA-USA or CMA-India/CIMA-UK or candidates pursuing a career in finance & accounting. Feel free to drop us a message if you need any assistance for CMA-USA course material or any other queries.
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