As someone who is interested in business, you may be wondering if you should take a cost accounting course. After all, cost accounting is a critical part of any business which you can use to make wise financial decisions for your company.
Although there are several options for accounting courses, not all of them are created equal. There are a few factors to consider when looking for the best cost accounting training. First, a credible organization should have accredited the course. This will guarantee that the training complies with requirements and that companies will accept it.
Table of Content
- 1 Best Cost Accounting Courses, Certification, Tutorials, Training, Classes Online
- 2 FAQ
In this blog post, we’ll explore the best cost accounting courses that will help you to enhance your accounting knowledge.
Best Cost Accounting Courses, Certification, Tutorials, Training, Classes Online
edX cost accounting online courses like ‘Accounting Essential’, ‘Account for Decision-Making’, ‘Accounting and Finance’, ‘Accounting’, ‘Reporting Use of Firm Resources and Taxation’ among many other courses on the platform take into account the various costs that firms might incur and includes a content that is developed purely to help businesses in tackling various expenses and accounting difficulties.
The platform includes renowned universities like Columbia, Maryland, the New York Institute of Finance, and more offering programs in cost accounting. Some of the instructors the courses offer are Jeremy Fernando, MS Narasimhan, Greg Geisler, Ken Merkley, and Brian P. Miller.
Key Highlights & USPs
- Learn analysis of financial statements and How to plan, control, and make business decisions with accounting information.
- Get to know the roles of cost management, tax management. leverage management, and asset management.
- You will become familiar with all terminologies related to the balance sheet, income statement, and cash flow statement – the three financial statements.
- Learn to create consolidated financial statements that takes you through long-term and short-term business investments.
- The courses include practical activities to help you gain experience and quizzes to assess your knowledge. Once you have finished the full course, you will receive a shareable certificate.
Who is it for?
The cost accounting courses on the platform are very helpful for beginner-level individuals as upon completion the learners will get the skills to evaluate financial statements to assess business performance.
Coursera offers a wide variety of cost accounting courses online like ‘Introduction to Cost Accounting’, ‘Managerial Accounting Fundamentals’, ‘Cost Accounting’, ‘Basics of Cost Accounting: Product Costing’, ‘Fundamentals of Accounting’, etc for learners to pick and choose from whatever course they like and start their financial understanding journey.
There are no.of universities offering courses on Coursera like the University of Virginia, Technische Universität München (TUM), the University of Illinois, etc. with their experts from the accounting field. Coursera is a legit platform made for learners to build skills and acquire knowledge any course taken from this course has its own status.
Key Highlights & USPs
- You will discover the techniques businesses use to determine the costs of their goods and services.
- Learn the most crucial techniques for product costing and how to distribute the costs incurred to the company’s products.
- How businesses compute their profit or loss and evaluate their profitability using cost information.
- You’ll discover how to choose overhead rates for the distribution of overhead expenses among items.
- Come across how to track and calculate costs as well as how to make your company’s cost structure clear.
- The courses offer tons of resources, reading materials, and quizzes for individuals to profoundly learn the course and gain a completion certificate.
Who is it for?
Coursera simply provides some of the top cost management accounting courses that are very hard to miss and equipped with the latest accounting knowledge helping beginners or intermediates to learn and upskill themselves and their teams.
Udemy’s cost management accounting course includes courses like ‘Managerial Accounting/Cost Accounting’, ‘Cost Accounting: Introduction to Management Accounting’, ‘Managerial (Cost) Accounting For Beginners’, ‘Cost Accounting and Financial Management etc. The course covers the essentials of cost accounting and prepares individuals for stepping into corporate accounts.
The platform is best known to provide short yet very informative courses, it has a wide array of programs that are taught by world-class instructors like Robert Steele, David Burrell, Raja Natarajan, Stefan Ignatovski, Syed Muhammad Ali Shah, and many others.
Key Highlights & USPs
- Calculate price and usage variations for expenses and distinguish between price and usage differences.
- Learn to use the Least Squares Approach while Conducting Regression Analysis and recognize cost activities, cost drivers, and cost behaviors.
- Construct Production Reports for a Process Costing System, Utilize the Cost-Volume-Profit Analysis (Break-Even Points).
- Apply financial management principles to their work and professional lives.
- Apply costing concepts to their businesses and to areas that deal with costs.
- Get lifetime access to course materials like articles and downloadable resources with a completion certificate for your CV.
Who is it for?
The courses are very effective for beginners as the language used to teach the courses are very easy to understand and learning becomes simple. The courses on the platform helps beginners to understand the hard complicated financial concepts in the simplest way possible.
Students Enrolled: 24,682
Duration: 3 months, 12 hours/week
What is cost accounting in simple words?
Allocating costs to the various activities that generate them is the process of cost accounting. This comprises costs for labour, supplies, and overhead. Obtaining an accurate picture of all the costs associated with operating a business is the aim of cost accounting.
What is cost accounting with example?
Cost accounting focuses on the expenses related to manufacturing or providing a service. To calculate the cost of a good or service, costs must be noted, organised, and allocated.
Because it can assist managers in understanding the costs of various options and making decisions that are in the best interests of the organisation, cost accounting is frequently employed in decision-making.
Let’s take the case of a business trying to decide whether to outsource or keep its production in-house. The business can use cost accounting to analyse the costs of the two choices and decide which is most cost-effective.
What is purpose of cost accounting?
A company can use cost accounting to better understand where its money is going, spot areas of waste, and decide on pricing and spending with more knowledge.
Cost accounting is a crucial tool for any company that wishes to properly control its costs, despite the fact that it can be complicated. Knowing the fundamentals of cost accounting will equip your company with a powerful tool to help it grow.