In the third course, you will learn how to use information from cost accounting to improve managerial decision-making. We discuss business decisions and suggest how cost information can support them best. For example, how will costs change if managers adjust cost drivers? How many units do companies need to sell in order to avoid losses or to achieve a targeted profit? How can managers improve pricing or product programs with information from cost accounting?
Cost Accounting: Decision Making
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Cost Accounting: Decision Making
This course is part of Cost Accounting Specialization
Instructors: Gunther Friedl
5,613 already enrolled
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4.8
(50 reviews)
Intermediate level
Recommended experience
8 hours to complete
3 weeks at 2 hours a week
Flexible schedule
Learn at your own pace
What you'll learn
You will learn methods that help to figure out how costs will behave if you adjust produced or sold quantities.
You will learn how cost information can support business decisions best.
You will learn to distinguish costs that are relevant for business decisions from costs that are irrelevant.
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Assessments
21 assignments
Taught in English
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This course is part of the Cost Accounting Specialization
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There are 3 modules in this course
Cost accountants want to support decision making. To do so, they should not only calculate current costs and income, but they should also be able to tell managers how costs might change depending on managers' decisions. "How would costs change if we produced more or less products? How would they change if we produce more or less variants of products? How would they change if we increase the quality of our products?" Cost functions help to answer these questions and in this module, we make you familiar with them. First, we show you some typical cost functions and, second, we introduce a variety of methods that cost accountants can use to determine cost functions. Finally, we show you how accountants can document cost forecasts.
What's included
7 videos6 readings5 assignments2 plugins
When companies consider offering a new product, they might want to know how many units they need to sell in order to avoid losses or to achieve a targeted profit. Cost-volume profit analysis is a simple tool that helps answer these questions. It illustrates how costs, revenues, and profits depend on sold quantities.
What's included
9 videos1 reading10 assignments1 plugin
In the beginning of this course, you learned that companies use Cost Accounting to support managers' decision-making. In this module, we outline some business decisions and discuss how cost information can support them best. For example, we discuss pricing decisions and product-mix decisions under capacity constraints.
What's included
11 videos4 readings6 assignments1 plugin
Instructors
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4.8 (14 ratings)Offered by
Recommended if you're interested in Finance
Technical University of Munich (TUM)
Technical University of Munich (TUM)
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University of Illinois Urbana-Champaign
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