Basics of Cost Accounting: Product Costing
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Course overview
- Provider
- Coursera
- Course type
- Free online course
- Level
- Beginner
- Deadline
- Flexible
- Duration
- 11 hours
- Certificate
- Paid Certificate Available
- Course author
- Gunther Friedl
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You will learn how to make your company's cost structure transparent and how to record and calculate costs.
You will learn methods of product costing, i.e., how companies calculate costs of their products and services.
You will learn to decide which product costing system is most suitable for your company’s production program and production type.
You will learn how to determine overhead rates for the allocation of overhead costs to products.
Description
The core of the first course is to learn how companies record total costs and calculate unit costs for their individual products or services. For example, how can a car manufacturer figure out the costs of an individual car series? During the first weeks, participants learn what costs are and how to distinguish them from expenses or cash flows. Participants will understand how companies record total costs and distinguish important cost types such as material costs, personnel costs, or depreciation. At the core of their cost-accounting system, companies allocate overhead costs to individual products. We show participants how to allocate the costs incurred to the company's products and introduce them to the most important methods and challenges of product costing.
