Description

The main goal of studying Basics of Cost Accounting is to understand the concept of cost and how costing is done in organisations. It enables the students to be aware about the different types of cost incurred at different stages of production process. The student will also be aware when and where a particular method or technique of cost is applied. This will help students in building their career as a cost accountant or they can use this knowledge to understand and determine the cost of their own business as an entrepreneur.

Curriculum

• Basics of Cost Accounting
  
• Cost Sheet
  
• Absorption Costing and Variable Costing
  
• Process Costing
  
• Material Control
  
• Pricing the Material issues
  
• Classification of Overheads
  
• Apportionment of Overheads
  
• Job Costing
  

Learning Outcomes

• Compare financial accounting with cost accounting
  
• Prepare a cost sheet
  
• Identify the different techniques of inventory control
  
• Prepare the store ledger account under the different methods of pricing material issues
  
• Compare the different methods for calculating labour turnover
  
• List the different time rate systems for wage payment
  
• Illustrate how factory overheads are absorbed under different methods
  
• Summarise the Activity Based Costing
  
• Outline the processes of Budget and Budgetary control
  

Who Should Attend?

• Bachelor of Business Administration
  
• Bachelor of Commerce
  
• Master of Business Administration
  

Job Prospects

• Manager, Cost Accounting
  
• Cost Controller
  
• Manager, Global Cost Accounting
  
• Cost Analysis Manager
  
• Sr. Cost/Operations Analyst
  
• Inventory Control & Cost Analyst
  

Certification

After completing this course and successfully passing the certification examination, the student will be awarded the “Essentials of Cost Accounting” certification.

If a learner chooses not to take up the examination, they will still get a 'Participation Certificate'.