Introduction to Cost Accounting
Author: Robert K Minniti
| CPE Credit: |
2 hours for CPAs |
This course is designed to introduce participants to the basic concepts of cost accounting. Participants will be introduced to various cost accounting concepts including: organizational strategies, value chains, types of costs, cost allocation, and budgeting.
Publication Date: May 2020
Designed For
CPAs, CMAs, CGMAs, CFOs, CEOs, employees, staff accountants and anyone who is interested in obtaining a basic understanding of cost accounting.
Topics Covered
- Basic concepts of cost accounting
- Various cost accounting concepts
- Organizational strategies, value chains, types of costs, cost allocation, and budgeting
- Terminology
- Types of Costs
- Direct Product Costs
- Indirect Product Costs
- Cost Allocation
- Unit”Level Costs
- Contribution Margin Ratio
- Break Even Point
- Budgeting
- Balanced Scorecard
- Strategy Maps
Learning Objectives
- Identify the basic concepts of cost accounting
- Recognize what would not normally be considered when developing an organizational strategy
- Identify what is not part of the value chain
- Describe various costs and how they apply
- Describe various budgets and how they apply
- Recognize a period cost
- Describe the break-even point
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
None
Advance Preparation
None
