
Introduction to Cost Accounting and Cost Classification
Introduction to Cost Accounting and Cost Classification
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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