This module covers cost accounting concepts related to cost-volume-profit analysis, which is simply a study of the relationships between costs and volume and their effect on profit. This module also covers the concept of activity-based costing which is a cost accounting system that identifies the activities performed in a process, costs of those activities, and uses cost drivers to attach the cost of activities to products.
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Learning Objectives:
Upon completion of this course, the learner will be able to:
- Identify the activities performed in a process
- Discuss contribution margin and how to calculate the contribution ratio
- Describe the impact of changes in fixed costs and sales volume
- Calculate the sales volume needed to achieve a target net profit figure
- Describe the difference between traditional cost systems and activity-based costing
- Identify why most companies prefer activity-based costing
Estimated Course Duration: 90 minutes (1.5 CPE)
Delivery Method: Online Self-Study
Field of Study: Accounting
Program Level: Overview
Advance Preparation/Prerequisites: None
Program Content:
What is the Break-Even Point?
Contribution Approach
Cost Volume Profit Analysis
- Calculating the Break-Even Point
- Calculating Contribution Margin Ratio
Fixed Costs and Sales Volumes
- Determining Impact of Changes in Fixed Costs and Sales Volume
Target Profit Analysis
- Target Net Profit and the CVP Equation
Margin of Safety
What is Operating Leverage?
Sales Mix
CVP Analysis
Budgeting
- Framework of Budgeting
- Planning and Control
- Budgeting Financial Statements
Characteristics of Activity Based Costing
- Traditional Costing Systems vs. ABC
- Plant-wide Overhead Rate
- Two-stage Process
- Assigning Costs and Cost Objects
Download PDF Course Description:
(1 page, 43 KB)
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In order to earn CPE credit, you must complete the training module within one year of enrollment and score 70% or above on the Final Exam.
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