Basics of Cost Accounting

Cost Accounting is often referred to as Cost Management Accounting. Cost Accounting basics is all about learning how to use different accounting methods to determine the cost of producing your product and then how to use that information to make a profit. This basic course on Cost Accounting will help you in understanding the complete overview of the subject along with Cost Classifications and solving various case studies.

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It is available for all the learners.

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The outline of this course is mentioned below:

Overview:

• Introduction to Basic Cost Concepts
• Costing, Cost Accounting and Accountancy
• Objectives of Cost Accounting0:04:08
• Difference between Cost Accounting and Financial Accounting
• Difference between Management Accounting and Cost Accounting

Cost Classifications:

• Cost Classification based on Time Period
• Cost Classifications based on Behavior
• Committed Fixed Cost and Discretionary Fixed Cost
• Cost Classification on the Basis of Element
• Cost Classifications
• Cost Classification based on Relationship

Cost Classifications:

• 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

Cost Sheets:

• Introduction to Cost Sheets
• Cost Classification for Cost Sheet
• Simple Cost Sheet
• Comprehensive Cost Sheet

Case Studies:

• Cost Sheet Case Studies - 1
• Cost Sheet Case Studies - 2
• Cost Sheet Case Studies - 3
• Cost Sheet Case Studies - 4
• Cost Sheet Case Studies - 5
• Cost Sheet Case Study 6 Simultaneous Equation
• Cost Sheet Case Study 7 Find Selling Price per unit

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