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Erik Slayter, Accounting Professor at Cal Poly
To Access This Course:
In this introductory course we’ll explore classifying costs as product vs non-product and how this impacts the accounting in a manufacturing environment. This is the building block of understanding how to account for a manufacturing company. In this course, the concept of costs flowing through inventory accounts is introduced.
Course Key Concepts: Introductory managerial accounting, Classifying costs, Manufacturing, Product, Direct materials, Direct labor, Overhead, Period costs, Raw materials.
Learning Objectives
- Identify and classify costs.
- Discover how to apply correct accounting of costs.
- Explore preparing schedules for production accounting.
Last updated/reviewed: June 17, 2021
3 Reviews (10 ratings)Reviews
Wendy Jones
( at Harry and David)
This course was easy to understand and provided a good foundation for gaining an understanding of inventory accounting. It explained the three main accounts in inventory and how they work together. It also helped participant understand how inventory interacts with the income statement.
Anonymous
(Controller)
This gives a great overview of the inventory accounting process. It does not get too deep into the weeds, but provides some good fundamentals.
Anonymous
(Owner)
Cost accounting made easy! Love the use of T-accounts to simplify and illustrate the flow of cost compnents. Great course
Prerequisites
Course Complexity: Foundational
Basic understanding of journal entries, t-accounts, the accounting equation (Introductory Financial Accounting)
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 .