Learn basics of Cost Accounting, Material Costing, Marginal Costing, etc.

Welcome to this Cost Accounting Crash Course.

In this course, you will have overview of

a) Cost Accounting

b) Material Costing

c) Marginal Costing

d) Overheads

Costing and Cost Accounting is very important subject for every learner who aspires career in Finance and Entrepreneurship.

Knowledge of Costing and Cost Accounting will equip the learner to find the areas where the cost of the business is going up and affecting the profits. It would enable the learner to understand the importance of Cost Control and Cost reduction to improve the profits of the business.

Material Costing:

Material can be classified into two types. Direct Material and indirect Material. We should know how to value the Material Cost while arriving out the total cost of a product.

Marginal Costing:

Marginal Costing is a technique of Decision Making adopted by Management of the Business Units.

Marginal Costing is practically applied in the following situations:

a) Performance Evaluation

b) Profit Planning

c) Fixation of Selling Price

d) Make or Purchase Decision

e) Optimizing Product Mix

f) Cost Control

g) Flexible Budget Preparation

Overheads:

Overheads are basically expenses incurred on

Indirect MaterialsIndirect Labour andIndirect Expenses

which are not directly identifiable or allocable to a cost object in an economically feasible way.

So, overheads is a total of all Indirect Costs.

This course is structured in self paced learning style.

All the best and welcome to the course.