Basics of Cost Accounting: Product Costing

The first course focuses on how companies calculate unit costs and record total costs. How can a car manufacturer calculate the cost of a particular car series? Participants will learn about costs and how they are distinguished from cash flows or expenses in the first week. Participants will learn how companies track total costs and differentiate important cost types like material costs, personnel costs, and depreciation. Companies allocate overhead costs to specific products as the heart of their cost accounting system. Participants learn how to allocate overhead costs to company products. We also present the most important and challenging aspects of product costing.