Free Online Cost Accounting Courses

1. Diploma in Cost Accounting

This is an excellent all-around course if you need to brush up your skills or be introduced to the principles of cost accounting, such as break-even point, variance analysis and budgeting.

2. Introduction to Cost Accounting and Cost Classification

If you are just starting your cost accounting career, start here for a full breakdown of key concepts like CVP analysis and how to calculate profit equation and contribution margin.

3. Advanced Cost Accounting Theory and Techniques

Take your skills and knowledge to the next level by enrolling in this course that explains concepts like ABC (activity-based cost) and throughput accounting.

As the name suggests, this is the branch of accounting that deals specifically with a business’s or organisation’s costs. It involves keeping detailed records of what it costs for a company to produce its goods or provide its services, everything from the price of raw materials and rent to salaries and logistics. 

By keeping such accurate tabs on every single cost, cost accountants help their companies in several ways:

• Setting the retail price of the service or product
• Ensuring there is sufficient profit
• Finding ways of cutting costs if necessary
• Studying whether the expenses are reasonable
• Compare variable and fixed costs

This, in turn, minimises waste, ensures inventory is correctly used and generally should make the organisation much more efficient and profitable.

If you are interested in becoming a successful and in-demand cost accountant, then you should have a sound knowledge of:

• Accounting
• Auditing
• Financial management

In addition, it is highly advisable to be literate in one or more of the following computer programs:

• Sage
• QuickBooks
• Xero
• Microsoft Excel