Cost Accounting Crash Course

Learn basics of Cost Accounting, Material Costing, Marginal Costing, etc.
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  • Lectures 17
  • Length 2.5 hours
  • Skill Level All Levels
  • 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 4/2015 English

Course Description

Welcome to this Cost Accounting Crash Course.

In this course, you will have overview of

a) Cost Accounting

b) Material Costing

c) Marginal Costing

d) Overheads

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.

Material Costing:

Material can be classified into two types. Direct Material and indirect Material. We should know how to value the Material Cost while arriving out the total cost of a product.

Marginal Costing:

Marginal Costing is a technique of Decision Making adopted by Management of the Business Units.

Marginal Costing is practically applied in the following situations:

a) Performance Evaluation

b) Profit Planning

c) Fixation of Selling Price

d) Make or Purchase Decision

e) Optimizing Product Mix

f) Cost Control

g) Flexible Budget Preparation

Overheads:

Overheads are basically expenses incurred on

Indirect MaterialsIndirect Labour andIndirect Expenses

which are not directly identifiable or allocable to a cost object in an economically feasible way.

So, overheads is a total of all Indirect Costs.

This course is structured in self paced learning style.

All the best and welcome to the course.




What are the requirements?

  • Basics of Accounting
  • Basics of Accounting Terms

What am I going to get from this course?

  • have overview of Costing
  • have overview of material costing
  • have overview of marginal costing
  • have overview of standard costing

What is the target audience?

  • Accounting and Costing Executives
  • Accounting and Costing 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.

Curriculum

Section 1: Introduction
Introduction to Basic Cost Concepts
Preview
04:59
Difference between Cost Accounting and Financial Accounting.
Preview
05:09
Cost Classifications
02:21
Cost classification based on relevance to decision making
05:21
Comprehensive cost sheet
06:53
Introduction to Material Costing
05:59
Format of Marginal Cost Sheet
02:55
Standard Cost Definition
02:55
Setting up of Standard Cost
04:12
Cost Sheet Case Study 1
12:40
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
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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