Cost Accounting Mastery
![](https://img-c.udemycdn.com/user/100x100/48721076_5a42.jpg)
- Description
- Curriculum
- FAQ
- Reviews
Course Introduction
Welcome to the comprehensive Cost Accounting course. This course is meticulously designed to provide you with a robust understanding of cost accounting principles, methods, and applications. Throughout the five sections, you will explore various aspects of cost accounting, starting with the basics and progressing to advanced topics. The journey begins with an introduction to cost accounting and its foundational concepts, followed by detailed discussions on different types of costing, cost allocation, decision-making using marginal costing, and process costing.
Section 1: Cost Accounting 01 – Getting Started
This introductory section provides a comprehensive overview of the foundational concepts in cost accounting. It begins with a general introduction to the field, explaining its importance and basic principles (Lecture 1). The section then distinguishes between direct and indirect costs (Lecture 2) and delves into the behavior of costs, illustrating with practical examples (Lectures 3-4). The concepts of cost functions, cost estimation, and the high-low method are covered next, including practical examples to solidify understanding (Lectures 5-7). Further, it explores cost-volume-profit (CVP) analysis, assumptions underlying the CVP model, and various methods for analyzing costs, such as the equation and contribution margin methods (Lectures 8-14). The section concludes with a detailed discussion on the margin of safety and its practical applications (Lectures 15-17).
Section 2: Cost Accounting 02 – Types of Costing
In this section, various types of costing methods are explored. It starts with the meaning and structure of a cost sheet and proceeds to detailed examples (Lectures 18-22). The section covers job costing, including its limitations and practical examples (Lectures 24-28). Batch costing is also discussed, with examples illustrating its profitability (Lectures 29-32). The focus then shifts to activity-based costing, explaining the concept, cost drivers, and practical applications (Lectures 33-37).
Section 3: Cost Accounting 03 – Cost Allocation and Analysis
This section addresses cost allocation and its significance in cost accounting. It begins with an introduction to cost allocation and the steps involved (Lectures 38-39). The section then examines indirect costs, basis of apportionment, and methods for allocating service department costs, including direct re-distribution and step-down methods (Lectures 40-50). Reciprocal re-distribution methods are also discussed, along with examples and concepts like overhead absorption rates and their impact on profitability (Lectures 51-57).
Section 4: Cost Accounting 04 – Decision Making using Marginal Costing
This section focuses on decision-making processes in cost accounting using marginal costing techniques. It starts with the basics of decision-making and relevant costing (Lectures 58-63). The concept of opportunity cost is introduced with practical examples (Lectures 64-66). Other cost concepts are explored, leading into detailed discussions on marginal costing, cost-volume-profit analysis, and break-even analysis (Lectures 67-77). The section emphasizes decision-making using cost and CVP analysis, with multiple practical examples (Lectures 78-88).
Section 5: Cost Accounting 05 – Process Costing
The final section delves into process costing, starting with its meaning, principles, and practical applications (Lectures 89-91). It differentiates between process costing and job costing (Lecture 92) and discusses process costing accounts with practical examples (Lectures 93-95). Key terms, normal and abnormal losses, and the concept of equivalent production are covered in detail (Lectures 96-103). The section also addresses valuation methods for work-in-progress inventory, joint products, by-products, and issues like spoilage and rework (Lectures 104-114).
This course offers a thorough grounding in cost accounting, equipping students with the necessary skills to analyze and manage costs effectively in various business contexts.
Course Conclusion
In conclusion, this Cost Accounting course equips you with the essential knowledge and skills to navigate the complexities of cost accounting in any business environment. By the end of this course, you will have a thorough understanding of cost behaviors, cost allocation methods, and various costing techniques. You will be adept at making informed decisions using marginal costing and understanding the nuances of process costing. This course not only prepares you for practical applications but also enhances your analytical abilities, making you a valuable asset in the field of cost accounting. We hope you find this course insightful and empowering, and we look forward to seeing you apply these concepts in your professional endeavors.
-
1Introduction to Cost AccountingVideo lesson
-
2Direct and Indirect Cost AccountingVideo lesson
-
3Behaviour of the CostVideo lesson
-
4Example of Behaviour of the CostVideo lesson
-
5Cost Function and Cost EstimationVideo lesson
-
6High Low MethodVideo lesson
-
7Example of High Low Method of CostVideo lesson
-
8Cost Volume Profit AnalysisVideo lesson
-
9CVP Model Analysis AssumptionVideo lesson
-
10Example CVP Model Analysis AssumptionVideo lesson
-
11Contribution Margin ratio of CostVideo lesson
-
12Fixed Cost and Sales VolumesVideo lesson
-
13Equation Method of CostVideo lesson
-
14Contribution Margin Method of CostVideo lesson
-
15Margin of Safety and its ExampleVideo lesson
-
16Margin of Safety and its Example ContinuesVideo lesson
-
17Examples Cost Accounting (All Accepted)Video lesson
-
18Meaning Of Cost SheetVideo lesson
-
19Pattern A Cost SheetVideo lesson
-
20Cost Of Production And Cost Of SalesVideo lesson
-
21Example Of A Cost SheetVideo lesson
-
22Example Of A Cost Sheet ContinuesVideo lesson
-
23Detail Of Cost And Calculate ProfitVideo lesson
-
24Job CostingVideo lesson
-
25Limitation Of Job CostingVideo lesson
-
26Examples Of Job CostingVideo lesson
-
27Examples Of Job Costing ContinuesVideo lesson
-
28Data Pertaining Job Costing ExampleVideo lesson
-
29Batch CostingVideo lesson
-
30Binder In Batch Costing ExampleVideo lesson
-
31Batch Costing Profitability ExampleVideo lesson
-
32Batch Costing Profitability Example ContinuesVideo lesson
-
33Activity Based CostingVideo lesson
-
34Example Of Activity Based CostingVideo lesson
-
35Total Cost Using Activity Based CostingVideo lesson
-
36Cost Driver In Activity Based CostingVideo lesson
-
37Volume Of Cost DiverVideo lesson
-
38Introduction to Cost AllocationVideo lesson
-
39Step For Cost AllocationVideo lesson
-
40Indirect CostVideo lesson
-
41Basis of ApportionmentVideo lesson
-
42Example Basis of ApportionmentVideo lesson
-
43Allocation Service Department CostVideo lesson
-
44Method of Re-Apportionment CostVideo lesson
-
45Direct Re-Distribution MethodVideo lesson
-
46Direct Re-Distribution Method ContinuesVideo lesson
-
47Example Step Down MethodVideo lesson
-
48Two Department in Step Down MethodsVideo lesson
-
49Example of Direct and Step Down MethodVideo lesson
-
50Example of Direct and Step Down Method ContinuesVideo lesson
-
51Reciprocal Re-Distribution MethodVideo lesson
-
52Reciprocal Re-Distribution Method ExampleVideo lesson
-
53Overhead Absorption RateVideo lesson
-
54Example Overhead Absorption RateVideo lesson
-
55Over Absorption and Under AbsorptionVideo lesson
-
56Profitability AnalysisVideo lesson
-
57Profitability Analysis ContinuesVideo lesson
-
58Introduction to Decision MakingVideo lesson
-
59Relevant Cost In Marginal CostingVideo lesson
-
60Non Relevant Cost In Marginal CostingVideo lesson
-
61Example of Relevant CostingVideo lesson
-
62Example of Relevant Costing ContinuesVideo lesson
-
63More on Relevant CostingVideo lesson
-
64Concept of Opportunity CostVideo lesson
-
65Concept of Opportunity Cost ExampleVideo lesson
-
66Concept of Opportunity Cost Example ContinuesVideo lesson
-
67Other Cost ConceptVideo lesson
-
68More on Cost ConceptVideo lesson
-
69Example of Cost ConceptVideo lesson
-
70Marginal CostingVideo lesson
-
71Example of Marginal CostingVideo lesson
-
72Independent Situation of Marginal CostingVideo lesson
-
73Independent Situation of Marginal Costing ContinuesVideo lesson
-
74Cost Volume Profit(CVP) AnalysisVideo lesson
-
75Contribution Margin RatioVideo lesson
-
76Break Even AnalysisVideo lesson
-
77Target Profit AnalysisVideo lesson
-
78Example of Target Profit AnalysisVideo lesson
-
79Example of Target Profit Analysis ContinuesVideo lesson
-
80Graph of AnalysisVideo lesson
-
81Decision making Using Cost Costing and CVP AnalysisVideo lesson
-
82Example of Decision MakingVideo lesson
-
83Impact Realisation Value and Route Maintained CostVideo lesson
-
84Cost Indifference Example in Decision MakingVideo lesson
-
85Different Types of Cost IndifferenceVideo lesson
-
86Output Range and Machine Preferences in Cost IndifferenceVideo lesson
-
87Calculating Cost Indifference and Interpret ResultVideo lesson
-
88Calculating Opportunity CostVideo lesson
![69382](https://coursevania.com/wp-content/uploads/2024/06/5915804_2fe7.jpg)
External Links May Contain Affiliate Links read more