Kelen F. Camehl, CPA, MBA


    Credit Info
  • NASBA Field of Study

  • Format

    On demand

  • Level

  • CPE Credit


  • Course acronym

  • Prerequisites

  • Course duration

    1.5 Hours

Cost Accounting Concepts and Systems

In this course, you will explore concepts and terminology of managerial accounting and review the differences between managerial and financial accounting. You will learn to distinguish product and period costs; direct and indirect costs; controllable and noncontrollable costs; fixed, variable, and mixed costs; and more.
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Topics discussed

• Product and period costs
• Direct and indirect costs
• Controllable and noncontrollable costs
• Fixed, variable and mixed costs
• Costing systems
• Valuation methods
• Break-even points
• Cost-volume-profit analysis

Learning objectives

• Recall differences between the various types of costs.
• Identify the method used for separating mixed costs into fixed and variable components.
• Recognize the components of product costs.
• Differentiate between inventory costing and valuation methods.
• Calculate the break-even point.
• Recognize principles of cost-volume-profit analysis.

Who will it benefit?

Accounting and finance professionals who work for enterprises required to comply with U.S. GAAP or are interested in understanding U.S. accounting fundamentals.