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This course is designed for learners to become expert users of cost information. The ultimate objective of any business is supposed to be profit and certainly profit is a function of cost. The success of a business does not solely depend on its revenue but also more importantly on how a business manages its costs In this tutorial you will learn the various types of costing methods.
- 1: Introduction 05:48
- 2: Actual Costing Method 06:50
- 3: Normal Costing Method 08:39
- 4: What is Materiality? 05:28
- 5: Capacity Utilization 10:43
- 6: Cost and Cost Objects 05:47
- 7: Fixed Cost and Variable Cost 05:54
- 8: Relevant Range 04:04
- 9: Behavior of Cost Concepts 06:54
- 10: Breakeven Analysis 07:24
- 11: Margin of Safety 04:30
- 12: Operating income 03:28
- 13: Cost Drivers 06:52
- 14: Strategies of Cost Drivers 06:27
- 15: Absorption Costing - Part 1 06:07
- 16: Job and process costing 06:03
- 17: Variable Costing 11:24
- 18: Recon Factor 03:13
- 19: Joint Costing 06:00
- 20: By Product Costing 04:36
- 21: Sales Value at Split Off 10:00
- 22: Net realizable value 05:26
- 23: Constant Gross Profit Method 1 07:22
- 24: Supply chain philosophies - part 2 06:34
- 25: Physical Measure 09:02
- 26: Job Order Costing 05:43
- 27: Process Costing 07:06
- 28: Increased Pricing 06:55
- 29: Manufacturing Cost 07:19
- 30: Activity Based Costing 03:47
- 31: Life Cycle Costing 06:11
- 32: Cost of Patent 06:48
- 33: Graph of Cost 04:10
- 34: Operation Costing 04:35
- 35: Backflush Costing 09:58
- 36: Overhead Applications 09:14
- 37: High-Low Method 05:15
- 38: Activity Based Costing 05:32
- 39: Single and Double Rate Allocation 07:14
- 40: Lean Resource Management 06:32
- 41: Material Requirement Planning 04:17
- 42: Theory of Constraints 07:13
- 43: Aspect of Inventory 04:53
- 44: Conclusion 06:30
We’ll walk you through the theory and practical examples used in different scenarios. You will understand the various aspects of costing method. You will see the cost terms and purposes and what cost accounting is all about and how it is relevant in the organizational scenario. Then we will look at the practical examples of costing. Further this course is going to cover definitions, theories, examples. In this course you will find great tools used in business that will aid the decision-making process. You will be able to identify and use important accounting information, identify and analyze various alternatives (projects, investments), and choose the best. Cost accounting will first measure and record the costs individually, then compare input costs to output results to aid in measuring financial performance and making future business decisions.
Cost Optimization is the study of internal financial information that can influence decision-making. It’s the Financial Accounting follow-up course, which can prove more challenging for learners. For those taking Managerial/Management Accounting at university or college, we built the course to serve as a great compliment. We will walk you through the theory, including examples. We will describe an outline of the process costs. In a process cost method, we will address the flow of inventory costs and monitor the process of raw material-related costs, which then flow to work in process and factory overhead, to finished products, and eventually are expensed in the form of the cost of goods sold. In order to be able to use accounting data in preparing and managing business practices, this course is intended to introduce students to existing cost accounting theories and practice. These principles are important to improve the analytical and critical thinking skills of students in reporting cost data. The aim is to build students who are eager and able to hold accountant roles in the business world. Not only can these topics save a lot of your precious time, but due to the use of outstanding audio-visual presentation techniques, they offer a fruitful and efficient learning experience.
This module is an excellent course for beginners as well as intermediate learners. We begin from the basics and systematically work through financial accounting topics all the way through. Since theory and principles are what accounting is, we will discuss accounting theory. We need to study theory so that in the real world we can make suitable changes. Without knowing the theory, studying procedures would make us inflexible and unable to adjust to the ever-changing environment. As we apply them to systems, we will understand the principle. In format, financial accounting is relatively structured. In other words, most accounting institutions, mostly in almost the same order, would cover a lot of the same subjects. We recommend that you look up a standard accounting textbook, review the index, and compare the subjects with the courses you are considering buying. We agree that this course will match well with the needs of everyone who wants to learn financial things. The very large concepts covered in digestible parts will be broken down by us. We will arrange those pieces in a way that logically builds on each other, enabling us to systematically, practically, and efficiently improve our knowledge.
This is an excellent course for people who want to develop their financial management skills. Analyzing spending patterns, setting specific financial targets, learning various budgeting options, debating debt reduction options, and having a perspective on investment options are all discussed in this course. This course will cover Financial Management Cost of Capital in detail, including Concepts, Hypotheses, and Examples. This course is built for students who want to study cost of capital for a career in finance. Each of these topics contributes to laying a solid foundation for sound financial management. These topics will provide you with the knowledge and tools you’ll need to put them into practice in your field and functional areas. We attempted to simplify a quantitative topic like Financial Management using a groundbreaking instructional and presentation approach. This course does not require any prior financial knowledge. Even the most novice learner would be able to follow all of the examples. Even if you have a limited understanding of finance, you will benefit greatly from this course. The aim is to make the concepts available to you in a way that is clear, easy to understand, and enjoyable, so that you can use them as fast reference learning material to cover in whatever weaknesses in your finance knowledge and apply it to your specific needs.This will mean monitoring costs and sales on a product-by-product basis. In any sector, costing is one of the most critical and fundamental knowledge fields. Profit is supposed to be the primary aim of every company, and profit is unquestionably a feature of cost. A company’s success is measured not only by its sales but, more importantly, by how it handles its costs. Businesses struggle due to unregulated prices, not a lack of sales. It is important to first consider the costs before attempting to regulate them. Items, procedures, structures, organizations, and operations all have costs. Students will gain a foundation in the skills required for further accounting studies, office work, and running their own company in this course. These skills are necessary for any student planning to major in business in college or enter the business world successfully. The course will help students gain a greater understanding of the value of accounting in running a successful business. It covers fundamental cost accounting principles and introduces students to methods for evaluating an organization’s performance and profitability
Who is this course for?
- This course is for finance students, managers, accountants or anyone who wants to upgrade their skill in the area of accounting and finance.
- Learn this course if you want to understand the principles and concept of costing.
- Take this course if you want to learn the various costing principles and methods.
- No prior accounting knowledge is necessary to learn this course.
- Basic fundamentals of Mathematics will help.
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