Introduction to Cost Accounting and Cost Classification

Name: Introduction to Cost Accounting and Cost Classification
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Master the components of cost accounting, calculating break-even point and doing CVP analysis with this free course.

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Learning Outcomes

In this free course, you will learn how to:

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
Recall 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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