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Introduction to Cost Accounting and Cost Classification
Beginner Level

Introduction to Cost Accounting and Cost Classification

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Introduction to Cost Accounting and Cost Classification

Master the components of cost accounting, calculating break-even point and doing CVP analysis with this free course.
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 th... 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 break-even point using different relevant case studies.

What You Will Learn In This Free Course

  • Discuss the concept of cost account...
  • Identify the different ways of clas...
  • Explain cost-volume-profit (CVP) an...
  • Explain how graphs are plotted for ...
  • Discuss the concept of cost accounting and the types of cost in cost accounting
  • Identify the different ways of classifying costs
  • Explain cost-volume-profit (CVP) analysis and the break-even (B/E) point
  • Explain how graphs are plotted for fixed, variable and semi-variable costs
  • Analyze the formulas for calculating the profit equation and contribution margin
  • Explain how break-even point analysis can be applied in cost accounting
  • Discuss the concept of sales mix and how to calculate the break-even point of the sales mix
  • Explain the concept of sensitivity analysis and its importance in cost accounting
  • Explain how to calculate the profit-volume (PV) ratio
  • Discuss the concepts of relevant versus sunk costs and make or buy decisions
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