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Cost Accounting
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✅⛔Please Start Here!5 Topics
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CHAPTER 1: COST MANAGEMENT & STRATEGY
📖Introduction To Cost Accounting2 Topics -
📖Cost Accounting In Contemporary Business Environment2 Topics
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📖Michael Porter Competitive Strategies2 Topics
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📖Balanced Scorecard5 Topics|1 Quiz
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📖The 4 Costs Of Quality4 Topics|1 Quiz
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CHAPTER 2: COST VOLUME PROFIT ANALYSIS📖Cost Volume Profit Analysis4 Topics|1 Quiz
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📖Contribution Margin Ratio2 Topics
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📖Cost Volume Profit Application6 Topics
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🎥+✏️Cost Volume Profit Application🟢
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🎙️Cost Volume Profit Application
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✏️Computing the Contribution Margin Ratio and Variable Expense Ratio🟢
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✏️The Effect of Changes in Unit Sales on Net Operating Income🟢
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✏️Compute and Use the Degree of Operating Leverage🟢
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✏️Sable Ridge Company: Cost-Volume-Profit Relationships
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🎥+✏️Cost Volume Profit Application🟢
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📖Break Even Point & Target Profit3 Topics|1 Quiz
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📖Target & Cost Volume Profit Analysis3 Topics|1 Quiz
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📖Cost Structure & Profit Stability2 Topics
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📖Margin Of Safety3 Topics|1 Quiz
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📖Degree Of Operating Leverage (DOL)4 Topics|1 Quiz
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📖Break Even For Multi-Product4 Topics|1 Quiz
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CHAPTER 3: COST ESTIMATION📖Account Analysis & Engineering Methods3 Topics|1 Quiz
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📖High-Low Method6 Topics|1 Quiz
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📖Cost Estimated Regression Analysis3 Topics|1 Quiz
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CHAPTER 4: BASIC COST ACCOUNTING TERMS & CONCEPTS📖Basic Cost Accounting Terms2 Topics
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📖Three Basic Manufacturing Cost4 Topics|2 Quizzes
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📖Product Cost Vs Period Cost3 Topics|1 Quiz
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📖Cost Behavior: Variable, Fixed & Mixed Cost5 Topics|1 Quiz
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📖Traditional Vs Contribution Format Income Statement3 Topics
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CHAPTER 5: JOB ORDER COSTING📖Job Order Costing5 Topics|1 Quiz
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📖Cost Flow In Job Order Costing5 Topics
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📖Cost Of Goods Manufactured4 Topics
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📖Under-Applied & Over-Applied Overhead5 Topics|1 Quiz
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CHAPTER 6: PROCESS COSTING📖Process Costing12 Topics|2 Quizzes
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🎥+✏️Process Costing (Weighted Average)🟢
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🎙️Process Costing (Weighted Average)
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🎥+✏️Process Costing (FIFO)🟢
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🎙️Process Costing (FIFO)
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🎥+✏️Process Costing Exercise🟢
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✏️ Process Costing Journal Entries🟢
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✏️Assigning Costs to Units Using the Weighted-Average Method🟢
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✏️Equivalent Units of Production Using the Weighted-Average Method🟢
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✏️Cost per Equivalent Unit Using the FIFO Method🟢
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✏️Assigning Costs to Units Using the FIFO Method🟢
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✏️Cost Reconciliation Report Using the FIFO Method🟢
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✏️Sutherland Corporation: Process Costing, Weighted-Average Method
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🎥+✏️Process Costing (Weighted Average)🟢
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CHAPTER 7: ACTIVITY-BASED-COSTING📖Activity Based Costing11 Topics|2 Quizzes
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🎥+✏️Activity Based Costing🟢
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🎙️Activity Based Costing
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✏️+🎥Example Activity Based Costing🟢
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✏️ABC Cost Hierarchy🟢
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✏️First-Stage Allocation🟢
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✏️Compute Activity Rates🟢
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✏️Second-Stage Allocation🟢
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✏️Product and Customer Profitability Analysis🟢
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✏️Ashgrove Fabrication, Inc.: Activity-Based Costing 🟢
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✏️Ashgrove Fabrication, Inc.: Action Analysis🟢
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✏️Sterling Precision Corp: Activity-Based Costing for External Reports🟢
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🎥+✏️Activity Based Costing🟢
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CHAPTER 8: BUDGETING PROCESS📖What Is a Budget & Role Of Budgets2 Topics|1 Quiz
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📖Budgetary Process2 Topics|1 Quiz
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📖Types Of Budgets2 Topics|1 Quiz
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📖Zero Based Budgeting & Rolling Budget2 Topics|1 Quiz
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📖Activity Based Budgeting2 Topics|1 Quiz
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📖Master Budget & Related Schedules11 Topics|2 Quizzes
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🎥+✏️Master Budget and Related Schedules🟢
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🎙️Master Budget and Related Schedules
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✏️Schedule of Expected Cash Collections🟢
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✏️Direct Materials Budge🟢
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✏️Direct Labor Budget🟢
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✏️Manufacturing Overhead Budget🟢
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✏️Selling and Administrative Expense Budget🟢
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✏️Cash Budget🟢
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✏️Budgeted Income Statement🟢
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✏️Budgeted Balance Sheet🟢
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✏️CA Cash Budget 🟢
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🎥+✏️Master Budget and Related Schedules🟢
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📖Production Budget5 Topics|1 Quiz
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CHAPTER 9: VARIABLE COSTING VS ABSORPTION COSTING📖Absorption & Variable Costing9 Topics|3 Quizzes
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🎥+✏️Absorption and Variable Costing🟢
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🎙️Absorption and Variable Costing
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🎥+✏️Example Absorption and Variable Costing🟢
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✏️Variable and Absorption Costing Unit Product Costs🟢
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✏️Variable Costing Income Statement and Net Operating Income Reconciliation🟢
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✏️Reconciliation of Absorption and Variable Costing Net Operating Incomes🟢
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✏️Cestrel Company Absorption and Variable Costing🟢
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✏️ Marlowe Corporation Variable Costing Income Stateme🟢
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✏️ Prescott Corporation🟢
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🎥+✏️Absorption and Variable Costing🟢
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CHAPTER 10: COST ALLOCATION📖Intro To Cost Allocation2 Topics
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📖Cost Allocation Direct Method4 Topics
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📖Cost Allocation Step Method3 Topics
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📖Cost Allocation Reciprocal Method5 Topics
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CHAPTER 11: VARIANCE ANALYSIS📖Flexible Budget & Performance Analysis10 Topics|2 Quizzes
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✏️+🎥Flexible Budget and Performance Analysis🟢
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🎙️Flexible Budget and Performance Analysis
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✏️Prepare a Flexible Budget🟢
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✏️Activity Variances🟢
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✏️Revenue and Spending Variances🟢
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✏️Flexible Budget Performance Report🟢
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✏️CA Planning Budget🟢
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✏️ Flexible Budget🟢
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✏️Sunset Pretzel Cart Planning Budget🟢
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✏️Sunset Pretzel Cart Flexible Budget🟢
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✏️+🎥Flexible Budget and Performance Analysis🟢
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📖Direct Material & Labor Variance Analysis7 Topics|2 Quizzes
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📖Variances Using Journal Entries5 Topics
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📖Variable & Fixed Overhead Variances4 Topics|2 Quizzes
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CHAPTER 12: TRANSFER PRICING📖Transfer Pricing8 Topics
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✏️+🎥Transfer Price Explained🟢
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🎙️Transfer Price Explained
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✏️+🎥Transfer Pricing Methods Explained🟢
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🎙️Transfer Pricing Methods Explained
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✏️+🎥Transfer Pricing Example🟢
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✏️Departmental Cost Allocation #1 SM🟢
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✏️Evaluate Transfer Pricing System, Dual Rates #2 SM🟢
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✏️Evaluate Transfer Pricing System, Negotiated Rates #3 SM🟢
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✏️+🎥Transfer Price Explained🟢
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CHAPTER 13: ECONOMIC ORDER QUANTITY & REORDER POINTS📖Economic Order Quantity2 Topics
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📖Reorder Points & Safety Stock2 Topics
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CHAPTER 14: MARGINAL ANALYSIS & DECISION MAKING📖Relevant & Irrelevant Cost3 Topics|2 Quizzes
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📖Add Or Drop a Segment5 Topics|1 Quiz
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📖Make Or Buy Component Analysis5 Topics|1 Quiz
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📖Accepting Or Rejecting Special Order4 Topics|1 Quiz
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📖Utilization Of a Constrained Resource3 Topics|1 Quiz
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📖Sell Or Process Further Decisions5 Topics|1 Quiz
Participants 2360
Lesson 6,
Topic 1
In Progress
under Prevention costs at 3:36, Raw material is listed as a prevention cost. It is also listed as an appraisal cost at 4:45. However, in question #2, 5 and 6, the explanation of answers, Prevention costs, inspection of materials is not listed. It is listed in question #1, the explanation of answer, Appraisal costs, inspection of materials is listed. Is it a Prevention cost or an Appraisal cost?
Hello James,
Thank you for pointing this out! To clarify, inspecting raw materials as they come in is classified as a prevention cost because it is aimed at avoiding defects before production begins. The purpose of this inspection is to prevent defective materials from being used in the manufacturing process.
On the other hand, inspecting and testing work-in-process or final products is classified as an appraisal cost because it occurs after production has started and is focused on detecting defects in products that are already in progress or completed. In the questions, examples are provided, and not a comprehensive list.
Let me know if you have further questions or need additional clarification!
GM Dr. Farhat
Is there any presentation deck to be downloaded? I did not find any material to be downloaded for this presentation
Best Regards
Murty
GM Murty,
I’ve attached the related PPT file.
Thank you for pointing this out!
Thank you Maroun. Greatly appreciate your response.
You’re most welcome, Murty!