World-Class Cost Accounting: A Practical Application (Part 1)

Overview

Add an invaluable skill set to your career. Showcasing a comprehensive cost accounting system of an actual company. Precisely identify direct costs for individual products and services. How to link direct costs with other direct costs. Identify certain fluctuating variable and semi-fixed costs that are, in fact, direct costs. Budgeting techniques for setting accurate standard costs and guidelines for revising standards during the year.

Prerequisites

A background in accounting or bookkeeping is sufficient.

Objectives

• How to pinpoint all direct costs
• Definitions for true variable, fluctuating variable, and semi-fixed costs
• Gain a price-setting advantage in an ever-increasing competitive marketplace

Highlights

• Beginning and intermediate cost principles automatically included 
• Covers manufacturing materials, labor, period mfg inefficiencies
• How to efficiently trace the above costs to products
• Substantially reduce manufacturing overhead allocation by 60% or more
• ABC analysis is embedded in the MFG cost system without the need for a separate ABC implementation project