Understanding Business Costs
Certificate Program
Cost accounting is a process that involves recording, analyzing, and reporting a company’s costs. Leverage the power of cost accounting with this dynamic course, designed to enhance decision-making by focusing on cost tracking, budgeting, and performance assessment. You will gain essential skills that optimize resources and drive sustainable growth within your organization.
Module 1 | Business Processes to Accounting Transactions
This module introduces you to the costs crucial for determining product pricing and maximizing company cash flow, ensuring efficient and effective business operations. This skillset will optimize your daily work and enable you to effectively manage incurred costs so you can help the company generate cash for investments or loan repayments.
Module 2 | Inventory Costs & Valuation
Explore the allocation of costs to inventory items and identify common reasons for discrepancies in inventory counts, equipping you with the skills to accurately value inventory and manage financial records effectively. By mastering financial statements you can confidently document costs included in inventory assets and how these costs transition from the balance sheet to the income statement.
Module 3 | Analyzing Costs
In this module, you will learn to recognize, calculate, and evaluate variable versus fixed costs and understand the drivers behind variable costs. This will be empower you to make informed financial decisions by leveraging the power of contribution margin to determine the break-even point and assess the margin of safety.
Module 4 | Making Decisions Based on Costs
Learn to distinguish between relevant and irrelevant information for decision-making, ensuring you focus on the most impactful data, and using historical data to develop accurate forecasts and budgets. This will develop data-driven decisions making skills that drive sustainable growth.
View other Continuing and Professional Education courses