Advanced Cost Accounting Theory and Techniques

This advanced cost accounting course covers the basic definitions and cost theories that provide a granular understanding of its behaviour. In addition, we will discuss the techniques used to classify and analyse cost elements, report on cost structures and the effect of changes in activity levels. We will guide the learners through marginal costing concepts and the application of marginal and fixed cost classifications in profit-volume analysis. We will further analyse the marginal costing theory by incorporating an evaluation of alternative situations based on a type of marginal cost referred to as relevant costs. 

Once you understand cost classification and behaviour, traditional costing methods such as process costing can be applied more sophisticatedly, increasing the relevance of management reports and the value of insights gained. In addition, we will investigate the activity-based costing (ABC) principles. Finally, you will understand how to contrast traditional costing methods with activity-based methods and recognise situations where one method is preferred over another.   

Course participants will learn concepts and techniques used to recognise and measure different types of costs. Learners will also gain strategic acuity in the context of costs and the interaction between cost behaviour and organisational objectives. Enrol for free and start your journey towards advanced managerial insight.