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In today’s fast moving, innovation driven economy, companies must make key decisions quickly or risk losing ground to their competition. To do this effectively, they need the most accurate view of their costs of doing business. This course describes the different types of costs incurred by an organization, how they behave and how each one impacts critical decision making.
This course focuses on how to manage, evaluate and take action to optimize overhead expenses.
Learning Objectives
- Describe the types of cost objects and their importance.
- Name the differences between types of costs, including fixed vs. variable, actual vs. budgeted, product vs. period and direct vs. indirect.
- Distinguish relationship between fixed and variable costs, as well as their impact on the bottom line.
- Observe the concept of relevant range and why it is important to understanding fixed costs.
- Describe the operating risk and leverage associated with the different types of costs models.
- Articulate different types of inventories and how they impact the bottom line.
- Describe how costs flow through the production process and the balance sheet to the income statement.
Last updated/reviewed: November 15, 2019
17 Reviews (52 ratings)Reviews
Anonymous
(Independent Financial Consultant)
Good overview on cost objects, cost types, cost behavior, etc. This course is good for those who need a refresher on or need to learn basic cost accounting topics.
Anonymous
(Sr. Accountant)
Excellent review of cost types and cost behavior. I liked the quick recap of reviewed material before beginning each new topic.
Anonymous
(Sr. Accountant)
Excellent course covering costs. Learned a lot. Instructor was very good with great examples for the topics he was covering.
Anonymous
(Director of Finance and Contracts)
Mainly related to product sales, still a valuable lesson for us in service industry. Instructor was engaging, not monotone.
Alex Ristevski CTP, CRC
(VP, Portfolio Manager at SunTrust Bank)
Good overview of cost accounting. Presenter was effective in defining key terms, use of charts, and illustrations.
Warren Parker
(Senior Accounting Spec at SEIU)
Overall explanations were very well made and I felt my understanding was increased greatly with solid examples.
Ara Toroyan
(Director - Financial Planning & Proc.. at NCCI Holdings, Inc.)
Good introductory module to the topic. Good use of slides and pace. Covers the basics.
Anonymous
()
This course was incredibly effective at teaching me skills in determining cost types
Anonymous
(Financial Services Professional)
An introductory course helped in revision. Well explained and presented.
Anonymous
(Accounts Payable)
I enjoyed the slides and the use of an easy example to explain the lesson
Anonymous
(cfo - consultant)
Nice refresher on overhead costs and there impact on the business cycle.
Anonymous
(General Accounting Manager)
I thought the instructor was very good. Easily explained each topic.
Excellent pace of course presentation and very good depth of content
Eric Cox
(Senior Accountant at Mondo)
good refresher on cost accounting!
Raul Cardona
(Senior IT Internal Auidtor at The Cosmopolitan of Las Vegas)
Very interesting!! Liked it a lot!
Anonymous
(Director of Accounting and Finance)
Good overview of costs....
Anonymous
(SVP, Finance)
good refresher
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .