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Diploma in Cost Accounting
Learn about the components of cost accounting, cost classification, and budgetary control from this free online course.
Description
This free online course in cost accounting will begin by introducing you to the essential steps to consider in financial management, the different components of cost accounting, the various ways cost can be classified, and the components of cost volume profit analysis. You will learn about the methods of calculating profit, the importance of marginal cost, as well as the objectives of cost volume profit analysis in cost accounting along with its assumptions.
This course will also introduce you to the function of the breakeven point in cost accounting along with how to apply it to real-life accounting problems. This course will teach you about the functions of sensitivity analysis, under which condition the cost volume profit (CVP) assumption can be changed, the importance of having a budgetary control system in an organisation, the objectives of budgeting, as well as the various types of budgeting available in cost accounting.
Finally, this course will acquaint you with how the budget contribution margin is computed using illustrations in cost accounting. You will learn about the formula for computing material cost variance as well as the formula for calculating labour variance. This course will give you insights into the reasons why an organization faces overhead variance along with the reasons for labour cost variance in cost accounting. Start this course now and improve your knowledge of cost accounting
Start Course NowModules
Introduction to Cost Accounting
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Introduction to Cost Accounting - Learning Outcomes
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Introduction to Cost Accounting
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Classification of Cost
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Marginal Costing
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Cost Volume Profit Analysis
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Margin of Safety
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Introduction to Cost Accounting - Lesson Summary
Breakeven Point and Sensitivity Analyses in Cost Accounting
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Breakeven Point and Sensitivity Analyses in Cost Accounting - Learning Outcomes
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Application of Breakeven Point Analysis
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Sensitivity Analysis
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Case of Ayur Pharma
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Different Decison Scenarios and Profit Planning
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Relevant Costs in Decison Making
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Breakeven Point and Sensitivity Analyses in Cost Accounting - Lesson Summary
Cost Accounting Case Studies
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Cost Accounting Case Studies - Learning Outcomes
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Case Study: Breakeven Point
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Case Study: JSW ISPAT Steel
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Case Study on Projection: Divya Aushadhi Limited
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Case Study: Shree Cements
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Cost Accounting Case Studies - Lesson Summary
Diploma in Cost Accounting - First Assessment
Introduction to Budgeting
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Introduction to Budgeting - Learning Outcomes
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Budgeting and Budgetary Control
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Functional Budget
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Cash Budget
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Introduction to Budgeting - Lesson Summary
Types of Costing and Variance Analysis
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Types of Costing and Variance Analysis - Learning Outcomes
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Standard Costing and Variance Analysis
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Material Cost Variance
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Overhead Variance
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Types of Costing and Variance Analysis - Lesson Summary
Diploma in Cost Accounting - Second Assessment
Course assessment
Learning Outcomes
On successful completion of this course you will be able to:
- Discuss the concept of cost accounting and the types of cost in cost accounting.
- Explain cost volume profit analysis and the breakeven point.
- Explain how graphs are plotted for a fixed cost, the variable cost, and semi-variable cost.
- Explain how breakeven point analysis can be applied in cost accounting.
- Discuss the concept of sales mix and how to calculate the breakeven point of the sales mix.
- Explain the concept of sensitivity analysis and its importance in cost accounting.
- Discuss the concept of budgeting and the types of budgeting in cost accounting.
- Analyze the components and importance of a budgetary control system.
- Discuss the concept of zero-based budgeting and its application in cost accounting.
- Discuss the concept of variance as well as the types of variance.
Certification
All Alison courses are free to enrol, study and complete. To successfully complete this Diploma course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Diploma course, you have the option to acquire an official Diploma, which is a great way to share your achievement with the world. Your Alison Diploma is:
Ideal for sharing with potential employers - include it in your CV, professional social media profiles and job applications
An indication of your commitment to continuously learn, upskill and achieve high results
An incentive for you to continue empowering yourself through lifelong learning
Alison offers 3 types of Diplomas for completed Diploma courses:
Digital Diploma - a downloadable Diploma in PDF format, immediately available to you when you complete your purchase
Diploma - a physical version of your officially branded and security-marked Diploma, posted to you with FREE shipping
Framed Diploma - a physical version of your officially branded and security-marked Diploma in a stylish frame, posted to you with FREE shipping
All Diplomas are available to purchase through the Alison Shop. For more information on purchasing Alison Diplomas, please visit our FAQs. If you decide not to purchase your Alison Diploma, you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our Diploma pricing, please visit our Pricing Page.
