Certification In Cost Accounting And Management

Complete guide applicable to Cost accounting and Management and it’s different concepts

What you'll learn

You will learn the key factors in Cost management and Accounting, Scope of cost accounting, its differentiation in between the financial accounting.

Role of cost accounting in accounting and Cost accounting system. Introduction to the Input and output costing.

Material Control which includes the FIFO method and LIFO method. Costing and control of labor. Introduction to Overheads and Behavior wise classification.

Learn about the marginal costing and Absorption costing, CVP analysis. PV Ratio, Break even point. Break even analysis.

Advantages of break-even analysis. Algebraic method. Variance Analysis and different types of the variance.

Learn about budgetary control and different types of the budgeting, benefits of Zero-based budgeting. Introduction to the management accounting.

Relationship of cost, financial and management accounting.

You will also learn about ratio analysis. Fund flow analysis and cash flow analysis.

Preparation of the cash flow statement, direct method and indirect method.

Discover how to get the knowledge of Introduction to recent development in cost management.

Activity based costing. Transfer pricing. Target costing. Tools and Techniques.

Requirements

You should have an interest in Cost management and accounting

An interest in input and output costing. Material control. Overheads and Marginal costing and absorption costing.

Be interested in getting the knowledge of variance analysis and budgetary control. Analysis of financial statement.

Have an interest in understanding the ratio analysis, fund flow analysis, cash flow analysis. Recent development in cost management. And introduction to management accounting.

Description

DescriptionTake the next step in your career! Whether you’re an up-and-coming professional, an experienced executive, aspiring manager, budding Professional. This course is an opportunity to sharpen your cost management and accounting capabilities, increase your efficiency for professional growth and make a positive and lasting impact in the business or organization.With this course as your guide, you learn how to:All the basic functions and skills required cost management and accounting.Transform cost accounting and cost management knowledge and how the cost accounting and management c can be used through different types of the accounting statements and analysis.Get access to recommended templates and formats for the detail’s information related to cost management and accounting. Ratio Analysis, Fund Flow Analysis, Cash flow analysis.Learn useful case studies, understanding the cost management and accounting, , enhancing budgetary control procedure related to purchasing and accounting statements for a given period of time. with useful forms and frameworksInvest in yourself today and reap the benefits for years to comeThe Frameworks of the CourseEngaging video lectures, case studies, assessment, downloadable resources and interactive exercises. This course is created to Learn about cost management and accounting, its importance through various chapters. How to explain cost accounting and financial management in modern business today. The input and output costing, material control, costing and control of labour, overheads, marginal costing and absorption costing in related to the cost accounting and management. You will also learn about the variance analysis, budgetary control and how it is related to cost management and accounting.Introduction to management accounting will help you to understand and how it should get maintained and managed accordingly to the functions in related to the analysis of financial statements. This video will also help to understand the details related to ratio analysis, fund flow analysis, cash flow analysis. Introduction to recent development in cost management.The course includes multiple Case studies, resources like formats-templates-worksheets-reading materials, quizzes, self-assessment, film study and assignments to nurture and upgrade your cost management and accounting knowledge in details.In the first part of the course, you’ll learn the most cost management and accounting, its relation to introduction to cost accounting, Unit and output costing, Material Control. Costing and control of labor. Overheads. Marginal costing and absorption costing.In the middle part of the course, you’ll learn how to develop a knowledge of Variance Analysis and Budgetary control. Introduction to management accounting and analysis of the financial statements. Ratio analysis, fund flow analysis. Cash flow analysis.In the final part of the course, you’ll develop the knowledge related to the introduction to recent development in cost management. You will get full support and all your quarries would be answered guaranteed within 48 hours.This online course is designed to provide a comprehensive understanding of cost accounting principles and management techniques. Whether you're a student looking to enhance your accounting knowledge or a professional seeking to improve cost control and decision-making skills, this course will cover essential topics to meet your needs.Course Format:· Video lectures· Reading materials and textbooks· Quizzes and assignments· Discussion forums or peer interactions· Case studies and real-world examples· Final assessment or examCourse Duration:The course duration can vary, but it's typically offered in a format that allows you to learn at your own pace. It could range from a few weeks to several months.Instructor:Experienced professionals or academics in the field of accounting and management.Certification:This online courses offer a certificate of completion, which can be a valuable addition to your resume.Cost management and accounting involve several key components and concepts that are essential for effectively managing and controlling costs within an organization. Here are the primary components:Cost Classification:Direct Costs: These are costs that can be directly traced to a specific product, project, or department. Examples include materials and labor used to manufacture a product.Indirect Costs: Indirect costs cannot be directly traced to a specific cost object (product, project, etc.). Examples include rent, utilities, and administrative salaries.Variable Costs: Costs that change in direct proportion to changes in production or activity levels. For instance, raw materials costs increase as production volume rises.Fixed Costs: Costs that remain constant regardless of changes in production or activity levels. Examples include rent for a production facility and management salaries.Cost Behavior Analysis:Understanding how costs behave is crucial. Costs can be categorized as fixed, variable, semi-variable, or step costs. This analysis helps in cost prediction and decision-making.Costing Methods:Job Costing: Assigning costs to specific jobs or projects. Common in industries like construction and custom manufacturing.Process Costing: Allocating costs to a continuous production process. Common in industries like food processing and chemicals.Activity-Based Costing (ABC): Allocating costs based on activities that consume resources. Useful for a more accurate understanding of costs in complex processes.Budgeting and Variance Analysis:Creating budgets to plan and control costs. Variance analysis involves comparing actual costs to budgeted costs to identify discrepancies and take corrective actions.Cost Allocation:Distributing indirect costs to various cost centers or cost objects. Allocation methods may include the use of cost drivers or allocation bases.Cost Control and Reduction:Implementing strategies and techniques to manage and reduce costs while maintaining or improving the quality of products or services.Cost-Volume-Profit (CVP) Analysis:Evaluating the relationship between costs, volume (production or sales), and profit to make pricing and production decisions.Decision-Making with Cost Data:Using cost information to make informed decisions, such as pricing, product mix, make-or-buy decisions, and capital investment choices.Performance Measurement and Metrics:Establishing key performance indicators (KPIs) and metrics to evaluate the financial performance of an organization or specific cost centers. Balanced scorecards are often used for this purpose.Ethical Considerations:Adhering to ethical standards and principles in cost management and accounting practices, including transparency, integrity, and fairness.Cost Reporting and Analysis:Preparing financial reports and cost analysis to provide management with insights into cost structures and performance.Cost Management Software:Utilizing specialized software and tools for cost tracking, analysis, and reporting. Enterprise Resource Planning (ERP) systems often include cost management modules.Understanding and effectively managing these components of cost management and accounting are essential for organizations to make informed decisions, optimize resources, and achieve financial goals.

Overview

Section 1: 1. Introduction to Cost Accounting.

Lecture 1 1. Introduction and Study plan

Lecture 2 2. Unit 1. Introduction to Cost Accounting

Lecture 3 3. Unit 1.1. Introduction to cost accounting (Introduction)

Lecture 4 4. Unit 1.2. Scope and use of Cost Accounting

Lecture 5 5. Unit 1.3. Relationship between Financial accounting and Cost accounting (fin

Lecture 6 6. Unit 1.4. Differences between cost accounts and financial accounts

Lecture 7 7. Unit 1.5.Role of cost accounting and decision making

Lecture 8 8. Unit 1.6. For planning and control

Lecture 9 9. Unit 1.7. Cost Accounting system

Section 2: 2. Unit and Output costing

Lecture 10 10. Unit 2. Unit and Output costing

Lecture 11 11. Unit 2.1. Unit and Output costing (Introduction)

Section 3: 3. Material Control

Lecture 12 12. Unit 3.Material Control

Lecture 13 13. Unit 3.1. Material control (Introduction)

Lecture 14 14. Unit 3.2. Meaning and definition of materials control

Lecture 15 15. Unit 3.3.Fifo method

Lecture 16 16. Unit 3.4. Lifo method

Section 4: 4. Costing and Control of Labor

Lecture 17 17. Unit 4. Costing and control of labour

Lecture 18 18. Unit 4.1. Costing and control of labour(Final)

Section 5: 5. Overheads

Lecture 19 19. Unit 5. Overheads

Lecture 20 20. Unit 5.1. Overhead ( Introduction).(final)

Lecture 21 21. Unit 5.2. Behaviour wise classification

Section 6: 6. Marginal Costing and Absorption Costing

Lecture 22 22. Unit 6. Marginal Cost

Lecture 23 23. Unit 6.1. Marginal costing and absorption costing (Introduction)

Lecture 24 24. Unit 6.2. Absorption costing and marginal costing Compared

Lecture 25 25. Unit 6.3. Cost-Volume -Profit Analysis

Lecture 26 26. Unit 6.4. Profit -Volume PV ratio

Lecture 27 27. Unit 6.5. Break even point

Lecture 28 28. Unit 6.6. Uses of Break even analysis

Lecture 29 29. Unit 6.7. Assumptions of Break even analysis

Lecture 30 30. Unit 6.8.Advantages of break even analysis

Lecture 31 31. Unit 6.9. Algebraic method

Lecture 32 32. Unit 6.10. Margin of safety

Lecture 33 33. Unit 6.11. Application of Marginal costing

Lecture 34 34. Unit 6.12. Determination of Sales Mix

Lecture 35 35. Unit 6.13.Make or Buy Decisions

Lecture 36 36. Unit 6.14.Own or Hire

Lecture 37 37. Unit 6.15. Shut down or Continue

Section 7: 7. Variance Analysis

Lecture 38 38. Unit 7.Variance Analysis

Lecture 39 39. Unit 7.1. Variance Analysis ((Introduction)

Lecture 40 40. Unit 7.2. Materials Mix Variance

Lecture 41 41. Unit 7.3. Materials Sub usage variance

Lecture 42 42. Unit 7.4. Labour Variances

Lecture 43 43. Unit 7.5. Labour cost variance

Lecture 44 44. Unit 7.6. Labour mix variance

Lecture 45 45. Unit 7.7. Sales variance

Section 8: 8. Budgetary Control

Lecture 46 46. Unit 8.Budgetary control

Lecture 47 47. Unit 8.1. Budgetary control ( Introduction)

Lecture 48 48. Unit 8.2. Sales budget

Lecture 49 49. Unit 8.3.Cash budget(final)

Lecture 50 50. Unit 8.4. Classification of the budget in accordance with the flexibility -F

Lecture 51 51. Unit 8.5. Flexible budget

Lecture 52 52. Unit 8.6.Zero based budgeting

Lecture 53 53. Unit 8.7.;Steps involve Zero based budgeting

Lecture 54 54. Unit 8.8. Benefits of zero based budgeting

Section 9: 9. Introduction to Management Accounting

Lecture 55 55. Unit 9.; Introduction to Management Accounting

Lecture 56 56. Unit 9.1. Introduction to management accounting (Introduction)

Lecture 57 57. Unit 9.2. Nature and scope of Management accounting

Lecture 58 58. Unit 9.3. Relationship of Financial,cost and Management accounting

Section 10: Analysis of Financial Statements

Lecture 59 59. Unit 10.Analysis of Financial Statements

Lecture 60 60. Unit 10.1. Analysis of financial statements (Introduction)

Lecture 61 61. Unit 10.2. Comparative Balance sheet

Section 11: 11. Ratio Analysis

Lecture 62 62. Unit 11.Ratio Analysis

Lecture 63 63. Unit 11.1.Ratio analysis (Introduction)

Lecture 64 64. Unit 11.2. On the basis of financial statements

Lecture 65 65. Unit 11.3. Solvency Ratio

Section 12: 12. Fund Flow Analysis

Lecture 66 66. Unit 12. Fund Flow Analysis

Lecture 67 67. Unit 12.1. Fund flow analysis (Introduction)

Lecture 68 68. Unit 12.2. Meaning of Fund Flow Statement

Section 13: 13. Cash Flow Analysis (As Per AS-3)

Lecture 69 69. Unit 13.Cash flow analysis

Lecture 70 70. Unit 13.1.Cash flow at(Introduction)

Lecture 71 71. Unit 13.2. Meaning of cash flow statement

Lecture 72 72. Unit 13.3. Utility of Cash Flow Statement

Lecture 73 73. Unit 13.4. Cash flow from operating activities

Lecture 74 74. Unit 13.5. Cash Flow from Investing Activities

Lecture 75 75. Unit 13.6. Preparation of Cash flow statement

Lecture 76 76. Unit 13.7. Direct method

Lecture 77 77. Unit 13.8. Indirect method

Section 14: 14. Introduction to Recent Development in Cost Management

Lecture 78 78. Unit 14. Introduction to Recent Development in Cost management

Lecture 79 79. Unit 14.1. Introduction to Recent Development in Cost management (Intro)

Lecture 80 80. Unit 14.2.; Activity based costing

Lecture 81 81. Unit 14.3. Important factors of selecting the cost drivers

Lecture 82 82. Unit 14.4. Objectives of ABC

Lecture 83 83. Unit 14.5. Transfer pricing

Lecture 84 84. Unit 14.6. Target costing

Lecture 85 85. Unit 14.7. When are costs set

Lecture 86 86. Unit 14.8. Tools and techniques

Lecture 87 87. Unit 14.9. First, Price

Lecture 88 88. Unit 14.10. Then,cost

Lecture 89 89. Unit 4.11. Finding paths to the targets

Section 15: Assignment and Downloads

Lecture 90 91. Unit 15. Assignment part

Lecture 91 Cost Management Templates

Lecture 92 Case Study: XYZ Manufacturing Company

Professionals with cost management and accounting knowledge who wants to see themselves well established in the cost accounting department jobs.,New professionals who are looking to see them successful in preparation of the accounting statements.,Existing cost accounting professional who is looking to get more engagement and innovation from their teams and organizations