Overview:

Cost accounting is one approach to managerial accounting that involves the cost, budget and profitability of numerous types of products, services and activities and future cost accountants should complete an academic program with courses focusing on these topics. These courses are typically part of a standalone degree program in accounting or business administration.

Prerequisite

• Candidates should have their laptops and an internet connection.
• They should have an account on Skype.

Course Content:

• Concept and delineation of the cost, division of costs by different criteria, costs allocation and their impact on value creation,Role of cost accounting in business management
• Cost accounting in manufacturing business, Method of calculating stocks consumption according to IAS-2, conceptual definition and role of stock according to HSFI-10 and IAS-2.Method of schedule indirect production costs per production unit.
• Cost accounting in trade business cost of stock in wholesale, evidence of receiving and issuing trading goods in wholesale, cost of stock in retail, evidence of receiving and issuing trading goods in retail, technique of stock calculation.
• Modern costing methodology, QC method, ABC/ABM method, ABC method, TC meted, LCC method. 

Key takeaways:

1.  Express the place and role of cost accounting in the modern economic environment,
2. Select the costs according to their impact on business,
3. Differentiate methods of schedule costs per unit of production,
4. Differentiate methods of calculating stock consumption,
5. Interpret the impact of the selected costs method,
6. Identify the specifics of different costing methods.