Cost Optimization

EDUOLC
Last Update July 23, 2021
3 already enrolled

About This Course

Cost Optimization is the study of internal financial information that can influence decision-making. It’s the Financial Accounting follow-up course, which can prove more challenging for learners. For those taking Managerial/Management Accounting at university or college, we built the course to serve as a great compliment. We will walk you through the theory, including examples. We will describe an outline of the process costs. In a process cost method, we will address the flow of inventory costs and monitor the process of raw material-related costs, which then flow to work in process and factory overhead, to finished products, and eventually are expensed in the form of the cost of goods sold. In order to be able to use accounting data in preparing and managing business practices, this course is intended to introduce students to existing cost accounting theories and practice. These principles are important to improve the analytical and critical thinking skills of students in reporting cost data. The aim is to build students who are eager and able to hold accountant roles in the business world. Not only can these topics save a lot of your precious time, but due to the use of outstanding audio-visual presentation techniques, they offer a fruitful and efficient learning experience.

Learning Objectives

You will understand the strategies of cost drivers.
You will learn the common approach used for determining the value of an asset for inventory accounting.
You will learn the method of calculating the cost of a product or enterprise.
You will learn NRV for determining the value of an asset.

Material Includes

  • 11 on demand videos
  • Downloadable exercise files
  • Lifetime Access
  • Certificate of Completion

Requirements

  • No prior accounting knowledge is necessary to learn this course.
  • Basic fundamentals of Mathematics will help.

Target Audience

  • Finance students, managers, accountants or anyone who wants to upgrade their skill in the area of accounting.
  • Learn this course if you want to understand the principles and concept of costing.

Curriculum

11 Lessons1h 10m

Operating Income

In this section we will discuss operating income which is an accounting figure that measures the amount of profit realized from a business's operations, after deducting operating expenses such as wages, depreciation, and cost of goods sold.
Operating Income00:3:28

Cost Drivers

In this topic we will see cost driver that derives the expenses and sets a basis on which a particular cost is to be allocated.

Absorption Costing

In this section let us see the method of calculating the cost of a product or enterprise by taking into account indirect expenses as well as direct costs.

Variable Costing

In this topic we will see Variable costing which is a term used in management and cost accounting in which the fixed overhead of production is removed from the cost of production of the product.

Recon Factor

Joint Costing

By Product Costing

Let’s see in this section Product costing that are used when a corporation has a production process from which finished goods are separated at a later stage of manufacturing.

Split off sales value

Net realizable value

In this section we will learn Net realizable value is the value of an asset, less a fair estimate of the costs associated with the actual selling or disposal of the asset, that can be realized upon the sale of the asset. NRV is a common approach used for determining the value of an asset for inventory accounting.

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EDUOLC

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$14.00$49.00

71% off
Level
All Levels
Duration 1.2 hour
Lectures
11 lectures
Language
English

Material Includes

  • 11 on demand videos
  • Downloadable exercise files
  • Lifetime Access
  • Certificate of Completion