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Cost Accounting - A Comprehensive Study
Learn basic to advanced concepts in Cost Accounting comprehensively
Course Highlights
Understand Basics of Cost Accounting
Understand Material Costing
Objectives of Cost Accounting
137 high quality videos
Course Description
Welcome to Cost Accounting - A Comprehensive Study Course.
Yes! This is a comprehensive course because you are going to learn all the following in this single course:
a) Basics of Costing Accounting (22 Lectures covering Introduction to Costing, Cost Classifications and Cost Sheet)
b) Material costing (11 Lectures covering covering Basics of Material Costing)
c) Labour Costing (23 Lectures)
d) Overheads Costing (18 Lectures)
e) Standard Costing Techniques (13 Lectures)
f) Standard Costing Variances (17 Lectures)
g) Operating Costing (6 Lectures)
h) Marginal Costing(30 Lectures)
Altogether, you get to access 118 Lectures.
So, how this course is relevant for you?
If you a Professional course student in the line of Finance or Accounting, then you would have Cost Accounting as part of your major subject. This course will explain theory and practical concepts in Cost Accounting which will help you to excel in Academic Examinations.
If you are an Accounting or Finance or Cost Accounting Executive, this course will help you to brush up you basics in Cost Accounting and all the contents have immediate practical relevance and application.
With this course, you will be able to understand
Basic concepts and processes used to determine product costs;
Understand Cost Accounting Statements;
Solve simple case studies.
This course is structured in self paced learning style.
Video lectures were used for delivering the course content.
If you aspire to gain strong foundation in Cost Accounting, then this course is for you.
Course Package:
137 High quality videos
Course Content:
Section 1 Basics of Costing
1 Introduction to Basic Cost Concepts
2 Costing, Cost Accounting and Accountancy
3 Objectives of Cost Accounting
4 Difference between Cost Accounting and Financial Accounting.
5 Difference between Managment Accounting and Cost Accounting
6 Cost Classifications
7 Cost classification based on Time Period
8 Cost classifications based on Behaviour
9 Committed Fixed Cost and Discretionary Fixed Cost
10 Cost classification on the basis of element
11 Cost classification based on Relationship
12 cost classification based on controllability
13 Cost classification based on Normality
14 cost classification based on attributability
15 Cost classification based on relevance to decision making
16 cost classification on the basis of cause and effect relationship
17 cost classification on the basis of payment
18 cost classification on the basis of function
19 cost sheet intro
20 cost classifcation for cost sheet
21 Simple cost sheet
22 Comprehensive cost sheet
Section 2 Material Costing
1 Introduction to Material Costing
2 objectives of material cost controlling
3 Requirements of Material cost control
4 elements of material cost control
5 techniques of material cost control
6 Decision making in material purchases
7 Material purchase procedure
8 supplier selection procedure
9 Supplier payment procedure
10 Just in Time Purchases
11 ABC Analysis
Section 3 Labour Costing
1 Introduction to Labour Costing
2 Difference between Direct and Indirect Labour Cost
3 Labour Cost Control
4 Roles of Departments in Controlling Labour Cost
5 Factors Controlling Labour Cost
6 Collection of Labour Cost
7 Time Keeping
8 Traditional Methods of Time Keeping
9 Mechanical Time Keeping
10 Requisites of Good Time Keeping System
11 Time Booking
12 Reconciliation Gate Card and Job Card
13 Objectives of Time Keeping
14 Payroll Procedure
15 Idle Time
16 Overtime Premium
17 Effects of OT on Productivity
18 Steps for Controlling Overtime
19 Labour Turnover
20 Labour turnover due to new recruitment
21 Causes of Labour Turnover
22 Effects of Labour Turnover
23 Steps available for minimising labour turnover
Section 4 Overheads Costing
1 Introduction to Overheads Costing
2 Overheads Classification
3 Overhead by Functions
4 Overheads by Nature
5 Overheads by Element
6 Overheads by Controllability
7 Advantages of classification of fixed and variable expenses
8 Accounting and Cotnrol of Manufacturing Overheads
9 Steps in estimating and absorbing overheads
10 Allocation and Apportionment
11 Apportionment Methods of Common Expenses
12 Bases of Apportioning Overheads
13 Reapportionment of Service Department Overheads
14 Case Study on Direct Distribution Method
15 Case Study Step Method
16 Case Study Simultaneous Equation Method
17 Case Study Repeated Distribution Method
18 Case Study Trial and Error Method
Section 5: Standard Costing Techniques
1.Introduction to Standard Costing Techniques
2.Standard Cost Definition
3.Setting up of Standard Cost
4.Standard Costing Definition
5.Physical Standards
6.Material Quantity Standards
7.Labour Time Standards
8.Overhead Standards
9.Problems in setting physical standards
10.Types of Standards
11.Need for Standard Costing
12.Process of Setting Standards
13.Types of Variances
Section 6: Standard Costing Variances
1.Introduction to Standard Costing Variances
2.Material Cost Variance
3.Material Price Variance
4.Material Usage Variance
5.CS Material Cost Variance
6.Comprehensive Case Study on Material Cost Variance
7.MCV more than one material
8.Comprehensive Case Study MCV
9.Labour Cost Variance
10.Labour Rate Variance
11.Labour Efficiency Variance
12.Case Study Labour Cost Variance
13.Comprehensive Case Study LCV
14.Overhead Cost Variance
15.Production Volume Variance
16.Overhead Expenses Variances
17.Variable Overhead Cost Variance
Section 7: Operating Costing
1.Introduction to Operating Costing
2.Case Study - Composite Units
3.Case study bus fare
4.Case Study Cost per absolute ton km
5.Cost Sheet under Operating Costing
6.Case Study evaluation of facilities
Section 8: Marginal Costing
1.Introduction to Marginal Costing
2.Direct Costing
3.Difference between Marginal Costing and Direct Costing
4.Differential Cost
5.Difference between Marginal and Differential Costing
6.Difference between Variable and Fixed Cost
7.Semi Variable Cost
8.Marginal Cost Sheet Format
9.Marginal Cost Equation
10.Absorption Costing Format
11.Difference between Marginal Costing and Absorption Costing
12.Contribution
13.Profit or loss and Contribution
14.Decision making Indicators of Marginal Costing
15.PV Ratio
16.Indifference Point
17.Difference between Indifference Point and Break Even Point
18.Shut Down Point
19.Case Study on Segregation of Fixed and Variable Cost
20.Case Study Break Even Point
21.Case Study on Computation of Sales for Desired Profits
22.Case Study on Profit Volume Ratio and Break Even Point
23.Computation of Price Volume Ratio and BEP
24.Case Study Marginal Costing Basic Computations
25.Case Study Profit Volume Ratio and BEP
26.Finding Fixed Cost, PVR and Sales
27.Marginal Cost Sheet and VC Interpretation
About the Instructor
CA N RAJA NATARAJAN
KOCHI, India
I am a practicing Chartered Accountant with tonnes of passion for teaching.
I teach Financial Management for Chartered Accountancy and Cost and Management Accountancy students in Ernakulam, India.
I also hold
Post Graduate Diploma in Business Administration in Finance from Symbiosis, Pune
Bachelors in Commerce, from Loyola College, Chennai.
I worked in State Bank of India as Assistant Vice President - Credit for a period of four years after which i started my Chartered Accountancy Practice.
During the stint in State Bank of India, I worked on credit proposals of Mid Corporate Units and gained good experience in
a) Financial Analysis
b) Risk Assessment
c) Viability Study
d) Evaluating business models
e) Project Finance
f) Working Capital Management, etc.
I conduct work shops for Entrepreneurs, Chartered Accountancy / Cost and Management Accountancy Students on the topics like
a) Project Finance
b) Credit Risk Assessment
c) Entrepreneurship Development
d) Finance for Non Finance Executives
e) Burning Desire for Entrepreneurship
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