Cost Accounting:05 – Specialized Topics in Cost Accounting

Through these tutorials we shall understand meaning of process costing and its accounting.

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 3h 55m | 26 Videos | 59157 Views |   Intermediate

Process Costing:

Cost Accounting as the definition goes is the recording of all the costs incurred in a business in a way that can be used to improve its management. Through these tutorials we shall brush upon the very basic of process costing and understand various terms associated with it. The training has been taken with the help of practical illustrations and examples to understand the topics better.

The training would include the following;

1. Meaning and Principles of Process Costing

2. Process Costing vs. Job Costing

3. Concept of Equivalent Production

4. Valuation of Work In Progress Inventory

5. Concept of Joint Product

6. Methods of allocation of Joint Cost

7. Concept of By-Product

8. Accounting for By-Product

9. Conceptual Understanding of Spoilage, Re-work and Scrap

10. Accounting for Spoilage

11. Accounting for Re-work

12. Recognizing Scrap

Target Customers:

• Accountants
• Cost Accountants
• Tax consultants
• Students

Pre-Requisites:

• Foundation knowledge of Accounting terms
• Passion to learn and apply

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