Cost Accounting

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Course Faculty

Mr. N Raja CA

Practising CA, PGDBA-Finance with Experience in Credit, Project Finance & Risk more>>

Basic Course Offerings

137 Lecture Topics

12+ Hours of Video Lectures

Course Specials

Interactive Discussion Forum

Course Completion Certificate

Basic Plan

30 days Free access to Basic Course Offerings covering HD Video Lectures delivered by Industry Experts.
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180 days access to basic course offerings covering HD video lectures
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Course Overview

This is a comprehensive online training course on Cost Accounting, covering ~13 hours of video lectures across Material Costing, Labour Costing, Overheads Costing, Standard Costing Techniques, Standard Costing Variances, Operating Costing, Marginal Costing and more.

This Course details both the theory as well as the practical aspects in cost accounting and solves case studies through relevant examples. The course is delivered by an expert finance trainer.

Course Curriculum

--- 1. Basics of Costing

1	Introduction to Basic Cost Concepts Preview	05:00
2	Costing, Cost Accounting and Cost Accountancy	02:33
3	Objectives of Cost Accounting	04:09
4	Difference between Financial and Cost Accounting	05:10
5	Difference between Management Accounting and Cost Accounting	03:05
6	Cost Classifications	02:22
7	Cost classification based on time period	02:32
8	Cost classification based on Behaviour	02:53
9	Committed FC and Discretionary FC	04:08
10	Cost classification on the basis of element	02:24
11	Cost classification based on Relationship	01:32
12	Cost classification based on Controllability	02:04
13	Cost classification based on Normality	02:02
14	Cost classification based on Attributability	01:14
15	Cost classification based on relevance to decision making	05:22
16	Cost classification on the basis of cause and effect relationship	02:05
17	Cost classification on the basis of payment	03:20
18	Cost classification on the basis of function	05:01
19	Cost sheet intro	02:34
20	Cost classifcation for cost sheet	02:23
21	Simple cost sheet	04:06
22	Comprehensive cost sheet	06:54

--- 2. Material Costing

23	Introduction to Material Costing	06:00
24	Objectives of material cost controlling	02:22
25	Requirements of Material cost control	05:58
26	Elements of material cost control	01:23
27	Techniques of material cost control	01:57
28	Decision making in material purchases	01:25
29	Material purchase procedure	03:16
30	Supplier selection procedure	02:46
31	Supplier payment procedure	01:59
32	Just in Time Purchases	04:02
33	ABC Analysis	05:46

--- 3. Labour Costing

34	Introduction	02:47
35	Diff b/w DLC ILC	02:24
36	Labour Cost Control	02:01
37	Roles of Dept in Controlling Lab Cost	04:02
38	Factors Controlling Labour Cost	05:39
39	Collection of Labour Cost	02:35
40	Time Keeping	04:03
41	Traditional Time Keeping Method	05:15
42	Mechanical Time Keeping	08:03
43	Requisites of Good Time Keeping System	02:53
44	Time Booking	07:05
45	Reconciliation Gate Card and Job Card	02:39
46	Objectives of Time Keeping	02:03
47	Payroll Procedure	03:28
48	Idle Time	07:06
49	Overtime Premium	05:40
50	Effects of OT on Productivity	02:21
51	Steps for Controlling Overtime	03:11
52	Labour Turnover	04:31
53	Labour turnover due to new recruitment	04:46
54	Causes of Labour Turnover	06:28
55	Effects of Labour Turnover	03:58
56	Steps available for minimising labour turnover	02:55

--- 4. Overheads Costing

57	Introduction	03:57
58	Overhead Classification	02:59
59	Functional Overheads	06:34
60	Overheads by Nature	04:48
61	Overheads by Element	04:53
62	Overheads by Controllability	02:15
63	Advantages of Classification of Overheads	09:03
64	Accounting and control of overheads	03:53
65	Steps in estimating and absorbing overheads	10:54
66	Allocation and Apportionment	02:26
67	Apportionment Methods of Common Expenses	10:34
68	Bases of apportioning Overheads	07:12
69	Reapportionment of Service Dept OHs	07:05
70	Case Study on Direct Distribution Method	13:55
71	Case Study - Step Method	06:34
72	Case Study - Simultaneous Equation Method	11:33
73	Case Study - Repeated Distribution Method	21:36
74	Case Study - Trial and Error Method	19:39

--- 5. Standard Costing Techniques

75	Introduction	02:56
76	Standardd Cost Definition	02:56
77	Setting up of Standard Cost	04:13
78	Standard Costing Definition	02:24
79	Physical Standards	03:24
80	Material Quantity Standards	03:56
81	Labour Time Standards	04:06
82	Overhead Standards	01:22
83	Problems in setting physical standards	06:16
84	Types of Standards	06:01
85	Need for Standard Costing	03:26
86	Process of Setting Standards	01:58
87	Types of Variances	04:42

--- 6. Standard Costing Variances

88	Introduction	02:07
89	Material Cost Variance	04:20
90	Material Price Variance	03:42
91	Material Usage Variance	09:17
92	CS Material Cost Variance	05:58
93	Comprehensive Case Study on Material Cost Variance	11:05
94	MCV more than one material	15:21
95	Comprehensive Case Study MCV	28:59
96	Labour Cost Variance	05:34
97	Labour Rate Variance	01:41
98	Labour Efficiency Variance	09:13
99	Case Study - Labour Cost Variance	06:21
100	Comprehensive Case Study LCV	28:24
101	Overhead Cost Variance	03:23
102	Production Volume Variance	08:17
103	Overhead Expenses Variances	01:33
104	Variable Overhead Cost Variance	04:02

--- 7. Operating Costing

105	Introduction	04:23
106	Case Study - Composite Units	06:20
107	Case study - bus fare	17:42
108	Case Study - Cost per absolute ton km	19:00
109	Cost Sheet - under Operating Costing	02:20
110	Case Study - Evaluation of facilities	12:16

--- 8. Marginal Costing

111	Introduction	01:17
112	Direct Costing	01:00
113	Diff b/w Marginal and Direct Costing	01:59
114	Differential Cost	01:02
115	Diff b/w Marginal and Differential Costing	02:30
116	Diff b/w Variable and Fixed Cost	04:21
117	Semi Variable Cost	02:20
118	Marginal Cost Sheet Format	02:55
119	Marginal Cos Equation	00:51
120	Absorption Costing Format	01:11
121	Diff b/w Marginal and Absorption Costing	03:32
122	Contribution	00:58
123	Profit or loss and Contribution	01:42
124	Decision making Indicators of Marginal Costing	00:30
125	PV Ratio	03:19
126	Indifference Point	03:48
127	Diff between IDP and BEP	01:31
128	Shut Down Point	02:50
129	Case Study on Segregation of Fixed and Variable Cost	06:13
130	Case Study on Break Even Point	07:41
131	Case Study on Compuation of Sales for Desired Profits	05:01
132	Case Study on PVR and BEP	11:31
133	Computation of Price Volume Ratio and BEP	12:14
134	Case Study of Marginal Costing Basic Computations	16:47
135	Case Study on Profit Volume Ratio and BEP	12:05
136	Finding Fixed Cost, PVR and Sales	10:18
137	Marginal Cost Sheet and VC Interpretation	13:27

Eligibility Criteria

This course is ideal for cost accounting students and executives, accounting professionals, finance executives, MBA students and B.COM,BBA,CA,CMA,CS,CFA,CPA,CIMA Students.

Ratings & Reviews

Mr. PRATIKKUMAR DHANSUKHBHAI TANDEL
Engineer, ISGEC Hitachi Zosen Ltd

Good basic concepts and step by step learning

Aleksandar Drenovac

The course is great, really comprehensive, with very broad areas of Cost Accounting and valuable examples.

Harini

Very helpful, Awesome course

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