Instructor for this course
more

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: April 07, 2018

14 Reviews (43 ratings)Reviews

4
Anonymous Author
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.
5
Anonymous Author
Excellent review of cost types and cost behavior. I liked the quick recap of reviewed material before beginning each new topic.
4
Anonymous Author
Mainly related to product sales, still a valuable lesson for us in service industry. Instructor was engaging, not monotone.
5
Member's Profile
Good overview of cost accounting. Presenter was effective in defining key terms, use of charts, and illustrations.
4
Member's Profile
Good introductory module to the topic. Good use of slides and pace. Covers the basics.
5
Anonymous Author
An introductory course helped in revision. Well explained and presented.
5
Anonymous Author
I enjoyed the slides and the use of an easy example to explain the lesson
4
Anonymous Author
Nice refresher on overhead costs and there impact on the business cycle.
5
Anonymous Author
I thought the instructor was very good. Easily explained each topic.
4
Member's Profile
Excellent pace of course presentation and very good depth of content
4
Member's Profile
good refresher on cost accounting!
5
Member's Profile
Very interesting!! Liked it a lot!
5
Anonymous Author
Good overview of costs....
5
Anonymous Author
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 .
Course Syllabus
INTRODUCTION AND OVERVIEW
Cost Types
  2:01Cost and Cost Objects
  6:51Different Types of Costs
  7:01Variable and Fixed Costs
  3:51Cost Behavior
Range and Leverage
  6:12Relevant Range
  9:34Operating Leverage
Inventory
  6:34Types of Inventory
  3:04Flow of Inventory Costs
Conclusion
  2:39Summary
Continuous Play
  52:00Costs Types and Their Impact on Decision Making
SUPPORTING MATERIALS
  PDFSlides: Cost Types
  PDFCosts Types and Decision Making Glossary Index
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM