Costing Principles Across Industries
 

What you'll learn
Intermediate level of cost and management accounting
Gain insights into industry-specific cost structures
Topics: Job & batch costing, Contract costing, Service costing, Process costing
Prepare for professional exam or upskill for your dream job
Enhance your financial decision-making skills
Requirements
Basics of Cost and management accounting subject
Description
Understanding costing principles is essential for effective financial management and decision-making in any industry. This course provides a comprehensive introduction to the different costing methods used in key sectors, including service, construction, automobile, oil, and manufacturing industries.You will learn how businesses in these industries allocate costs, determine pricing strategies, and optimize profitability. We will cover essential topics such as job costing, process costing, joint and by-product costing, operating costing, batch costing and contract costing. You'll gain insights into how each industry applies these principles to manage expenses, improve efficiency, and maximize profits. This is not only help with your exams, but to enhance your management accounting skills and knowledge.Whether you're an accounting professional, business owner, manager, or student looking to enhance your financial acumen, this course will equip you with practical knowledge to analyze costs effectively and make informed decisions. No prior costing experience is required-just a willingness to learn!By the end of this course, you will:- Understand key costing methods used in different industries- Learn how businesses allocate and control costs- Gain insights into industry-specific cost structures- Enhance your financial decision-making skillsEnroll now to master costing principles and gain a competitive edge in your field!
Overview
Section 1: Introduction to the subject
Lecture 1 What is Cost accounting, vs Financial accounting, Cost classificatio
Lecture 2 What is management accounting
Section 2: Job and Batch costing
Lecture 3 Job costing - Basics, Differences, Cost sheet and Accounting
Lecture 4 Batch costing - Basics, EBQ, formula
Lecture 5 Job and batch costing - Practise session
Section 3: Contract costing
Lecture 6 Contract costing - Terminologies & Types of contract
Lecture 7 Contract costing - Calculations
Lecture 8 Contract costing - Practice session
Section 4: Process costing
Lecture 9 Understanding Process costing
Lecture 10 Practise session - Part 1
Lecture 11 Practise session - Part 2
Section 5: Joint and by-product costing
Lecture 12 Understanding Joint product costing
Lecture 13 Understanding by-product costing
Section 6: Operating costing/Service costing
Lecture 14 Understanding service costing
Lecture 15 Service costing - Practise session
Students of a degree/masters/professional course,Including - CA, CMA, CS, ACCA, CIMA, ACA, ICAEW course students,Cost accounting professional looking to enhance skills
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