Nergy Vidya

Essentials of Cost Accounting

Duration: 60 Hours

The Essentials of Cost Accounting Course provides a hands-on, practical approach to understanding the key concepts of cost management in business. Through interactive exercises and real-world case studies, you will learn how to allocate costs, determine pricing strategies, and analyze financial performance to drive profitability.

The course covers essential topics such as cost-volume-profit analysis, job order costing, and budgeting, with a focus on applying these tools in real-time business situations. You'll gain the skills to effectively track and manage costs, improving decision-making and business efficiency.

Topics Covered

Classification of costing
Material costing (Stores Ledger)
Economic order quantity
Material costing (Stock Level)
Labour costing
Overhead costing
Absorption costing
Cost sheet
Marginal costing
Budgeting
Job and batch costing
Contract costing
Standard costing

Terminal Outcomes

Develop a comprehensive understanding of cost accounting principles.
Apply costing methods such as job order costing and process costing to real-world scenarios.
Conduct cost-volume-profit analysis to make informed business decisions.
Prepare detailed budgets and forecasts based on cost data.
Identify and allocate fixed, variable, and mixed costs accurately.
Understand and calculate breakeven points to optimize pricing and profitability.
Analyze cost structures and make recommendations for cost reduction.
Develop a profitability analysis to evaluate and improve business operations.
Understand the impact of costs on financial statements and performance.
Implement cost control measures to increase business efficiency and reduce wastage.

Essentials of Cost Accounting

Duration: 60 Hours

Topics Covered

Terminal Outcomes

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