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Introduction to Cost Accounting and Cost Classification

Learn about the components of cost accounting, types of cost and methods of cost accounting from this free course.

Publisher: NPTEL
This free online course in cost accounting provides a comprehensive guide to the importance of financial management and the components of cost accounting. Learn about ways cost can be classified along with the functions of marginal cost. You will also learn how to calculate and analyse the breakeven point using different relevant case studies. Begin this course and improve your knowledge on how to project for the future using breakeven point.
Introduction to Cost Accounting and Cost Classification
  • Duration

    4-5 Hours
  • Students

    1,401
  • Accreditation

    CPD

Description

Modules

Outcome

Certification

View course modules

Description

This free online course will begin by introducing you to the important steps to consider in financial management as well as the different components of cost accounting. You will learn about the various ways cost can be classified, the components of cost volume profit analysis, the different methods of calculating profit as well as contribution margin, and the importance of marginal cost in cost accounting.

This course will also introduce you to the function as well as the objectives of cost volume profit analysis in cost accounting, along with its assumptions. You will learn about the different formulas for calculating profit and contribution margin in cost accounting, as well as how the cost volume profit graph is plotted along with examples that depict how they apply to our daily lives.

Finally, this course will introduce you to the function of the breakeven point as well as how it can be applied in accounting problems. It will teach you about the functions of sensitivity analysis and under which condition the cost volume profit (CVP) assumption can be changed. Start this course now and improve your knowledge of the functions of make or buy decisions, shut down cost, joint product, as well as joint product cost allocation in cost accounting.

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