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Cost Accounting - A Comprehensive Study

Learn basic to advanced concepts in Cost Accounting comprehensively

Students Enrolled : 0
Total lectures : 144

What will I learn from this course?

  • Understand Basics of Cost Accounting

  • Understand Material Costing

  • Understand Labor Costing

  • Understand Overheads Costing

  • Understand Standard Costing Techniques

  • Understand Operating Costing

  • Understand Marginal Costing


  • Basics of Accounting

Who is the target audience?

  • Cost Accounting Students and Executives

  • Accounting Students and Executives

  • Finance Students and Executives

  • MBA Finance Students

  • B.Com., BBA, CA, CMA, CS, CFA, CPA, CIMA Students


Welcome to Cost Accounting - A Comprehensive Study Course.

Yes! This is a comprehensive course because you are going to learn all the following in this single course:

  • Basics of Costing Accounting 
  • Material costing 
  • Labor Costing 
  • Overheads Costing 
  • Standard Costing Techniques
  • Standard Costing Variances 
  • Operating Costing 
  • Marginal Costing
  • Process Costing and Operation Costing
  • Budget and Budgetary Control
  • Contract Costing
  • Joint Products and By Products
  • Non Integrated Accounts
  • Job Costing and Batch Costing

So, how this course is relevant for you?

If you a Professional course student in the line of Finance or Accounting, then you would have Cost Accounting as part of your major subject. This course will explain theory and practical concepts in Cost Accounting which will help you to excel in Academic Examinations.

If you are an Accounting or Finance or Cost Accounting Executive, this course will help you to brush up you basics in Cost Accounting and all the contents have immediate practical relevance and application.

With this course, you will be able to

  • Basic concepts and processes used to determine product cost
  • Understand Cost Accounting Statements
  • Solve simple case studies

This course is structured in self paced learning style. Video lectures were used for delivering the course content. If you aspire to gain strong foundation in Cost Accounting, then this course is for you.

Happy Learning and Best Wishes!

Course Curriculum

  • Introduction to Basic Cost Concepts 4m 59s                        
  • Costing, Cost Accounting and Accountancy 2m 33s                        
  • Objectives of Cost Accounting 4m 09s                        
  • Difference between Cost Accounting and Financial Accounting. 5m 09s                        
  • Difference between Managment Accounting and Cost Accounting 3m 04s                        
  • Cost Classifications 2m 22s                        
  • Cost classification based on Time Period 2m 32s                        
  • Cost classifications based on Behaviour 2m 53s                        
  • Committed Fixed Cost and Discretionary Fixed Cost 4m 07s                        
  • Cost classification on the basis of element 2m 23s                        
  • Cost classification based on Relationship 1m 32s                        
  • cost classification based on controllability 2m 03s                        
  • Cost classification based on Normality 2m 02s                        
  • cost classification based on attributability 1m 13s                        
  • Cost classification based on relevance to decision making 5m 22s                        
  • cost classification on the basis of cause and effect relationship 2m 05s                        
  • cost classification on the basis of payment 3m 20s                        
  • cost classification on the basis of function 5m 01s                        
  • cost sheet introduction 2m 33s                        
  • cost classifcation for cost sheet 2m 22s                        
  • Simple cost sheet 4m 05s                        
  • Comprehensive cost sheet 6m 54s                        
  • Cost Sheet Case Study 1 12m 40s                        
  • Cost Sheet Case Study 2 19m 39s                        
  • Cost Sheet Case Study 3 14m 22s                        
  • Cost Sheet Case Study 4 9m 16s                        
  • Cost Sheet Case Study 5 12m 40s                        
  • Introduction to Material Costing 5m 59s                        
  • objectives of material cost controlling 2m 21s                        
  • Requirements of Material cost control 5m 58s                        
  • elements of material cost control 1m 23s                        
  • techniques of material cost control 1m 56s                        
  • Decision making in material purchases 1m 24s                        
  • Material purchase procedure 3m 15s                        
  • supplier selection procedure 2m 46s                        
  • Supplier payment procedure 1m 58s                        
  • Just in Time Purchases 4m 01s                        
  • ABC Analysis 5m 45s                        
  • Introduction to Labour Costing 2m 46s                        
  • Difference between Direct and Indirect Labour Cost 2m 24s                        
  • Labour Cost Control 2m 00s                        
  • Roles of Departments in Controlling Labour Cost 4m 02s                        
  • Factors Controlling Labour Cost 5m 38s                        
  • Collection of Labour Cost 2m 34s                        
  • Time Keeping 4m 02s                        
  • Traditional Methods of Time Keeping 5m 15s                        
  • Mechanical Time Keeping 8m 03s                        
  • Requisites of Good Time Keeping System 2m 52s                        
  • Time Booking 7m 04s                        
  • Reconciliation Gate Card and Job Card 2m 38s                        
  • Objectives of Time Keeping 2m 02s                        
  • Payroll Procedure 3m 27s                        
  • Idle Time 7m 05s                        
  • Overtime Premium 5m 39s                        
  • Effects of OT on Productivity 2m 20s                        
  • Steps for Controlling Overtime 3m 10s                        
  • Labour Turnover 4m 30s                        
  • Labour turnover due to new recruitment 4m 45s                        
  • Causes of Labour Turnover 6m 28s                        
  • Effects of Labour Turnover 3m 57s                        
  • Steps available for minimising labour turnover 2m 55s                        
  • Introduction to Overheads Costing 3m 57s                        
  • Overheads Classification 2m 58s                        
  • Overhead by Functions 6m 33s                        
  • Overheads by Nature 4m 48s                        
  • Overheads by Element 4m 53s                        
  • Overheads by Controllability 2m 15s                        
  • Advantages of classification of fixed and variable expenses 9m 02s                        
  • Accounting and Cotnrol of Manufacturing Overheads 3m 52s                        
  • Steps in estimating and absorbing overheads 10m 53s                        
  • Allocation and Apportionment 2m 25s                        
  • Apportionment Methods of Common Expenses 10m 34s                        
  • Bases of Apportioning Overheads 7m 11s                        
  • Reapportionment of Service Department Overheads 7m 04s                        
  • Case Study on Direct Distribution Method 13m 54s                        
  • Case Study Step Method 6m 34s                        
  • Case Study Simultaneous Equation Method 11m 33s                        
  • Case Study Repeated Distribution Method 21m 36s                        
  • Case Study Trial and Error Method 19m 39s                        
  • Introduction to Standard Costing Techniques 2m 55s                        
  • Standardd Cost Definition 2m 56s                        
  • Setting up of Standard Cost 4m 12s                        
  • Standard Costing Definition 2m 24s                        
  • Physical Standards 3m 24s                        
  • Material Quantity Standards 3m 55s                        
  • Labour Time Standards 4m 05s                        
  • Overhead Standards 1m 21s                        
  • Problems in setting physical standards 6m 15s                        
  • Types of Standards 6m 01s                        
  • Need for Standard Costing 3m 26s                        
  • Process of Setting Standards 1m 57s                        
  • Types of Variances 4m 42s                        
  • Introduction to Standard Costing Variances 2m 06s                        
  • Material Cost Variance 4m 19s                        
  • Material Price Variance 3m 42s                        
  • Material Usage Variance 9m 16s                        
  • CS Material Cost Variance 5m 57s                        
  • Comprehensive Case Study on Material Cost Variance 11m 04s                        
  • MCV more than one material 15m 21s                        
  • Comprehensive Case Study MCV 28m 59s                        
  • Labour Cost Variance 5m 33s                        
  • Labour Rate Variance 1m 40s                        
  • Labour Efficiency Variance 9m 13s                        
  • Case Study Labour Cost Variance 6m 21s                        
  • Comprehensive Case Study LCV 28m 24s                        
  • Overhead Cost Variance 3m 22s                        
  • Production Volume Variance 8m 16s                        
  • Overhead Expenses Variances 1m 32s                        
  • Variable Overhead Cost Variance 4m 01s                        
  • Introduction to Operating Costing 4m 22s                        
  • Case Study - Composite Units 6m 19s                        
  • Case study bus fare 17m 41s                        
  • Case Study Cost per absolute ton km 19m 00s                        
  • Cost Sheet under Operating Costing 2m 19s                        
  • Case Study evaluation of facilities 12m 16s                        
  • Introduction to Marginal Costing 1m 16s                        
  • Direct Costing 0m 59s                        
  • Difference between Marginal Costing and Direct Costing 1m 59s                        
  • Differential Cost 1m 01s                        
  • Difference between Marginal and Differential Costing 2m 29s                        
  • Difference between Variable and Fixed Cost 4m 21s                        
  • Semi Variable Cost 2m 20s                        
  • Marginal Cost Sheet Format 2m 55s                        
  • Marginal Cost Equation 0m 51s                        
  • Absorption Costing Format 1m 10s                        
  • Difference between Marginal Costing and Absorption Costing 3m 31s                        
  • Contribution 0m 57s                        
  • Profit or loss and Contribution 1m 41s                        
  • Decision making Indicators of Marginal Costing 0m 30s                        
  • PV Ratio 3m 19s                        
  • Indifference Point 3m 48s                        
  • Difference between Indifference Point and Break Even Point 1m 30s                        
  • Shut Down Point 2m 50s                        
  • Case Study on Segregation of Fixed and Variable Cost 6m 13s                        
  • Case Study Break Even Point 7m 40s                        
  • Case Study on Computation of Sales for Desired Profits 5m 01s                        
  • Case Study on Profit Volume Ratio and Break Even Point 11m 30s                        
  • Computation of Price Volume Ratio and BEP 12m 14s                        
  • Case Study Marginal Costing Basic Computations 16m 46s                        
  • Case Study Profit Volume Ratio and BEP 12m 04s                        
  • Finding Fixed Cost, PVR and Sales 10m 18s                        
  • Marginal Cost Sheet and VC Interpretation 13m 26s                        
  • Cost Sheet Case Study 6 Simultaneous Equation 22m 05s                        
  • Cost Sheet Case Study 7 Find Selling Price per unit 16m 30s                        

About Tutor

Ca raja natarajan
Course: 10
Students: 11

I am a practicing Chartered Accountant with tonnes of passion for teaching.

I teach Financial Management & Strategic Financial Management for Chartered Accountancy, Cost and Management Accountancy and Company Secretary students in Ernakulam, India. I also hold Post Graduate Diploma in Business Administration in Finance from Symbiosis, Pune and Bachelors in Commerce, from Loyola College, Chennai.

I worked in State Bank of India as Assistant Vice President - Credit for a period of four years after which i started my Chartered Accountancy Practice. During the stint in State Bank of India, I worked on credit proposals of Mid Corporate Units and gained good experience in Financial Analysis, Risk Assessment, Viability Study, Evaluating business models, Project Finance, Working Capital Management, etc.

I conduct work shops for Entrepreneurs, Chartered Accountancy / Cost and Management Accountancy Students on the topics like Project Finance, Credit Risk Assessment, Entrepreneurship Development, Finance for Non Finance Executives, etc.

I love teaching and i want fundamentals of accounting and finance to reach students and so i am here.

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