Cost Accounting Specialization
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Cost Accounting Specialization
Accelerate your Career in Cost Accounting.
Use cost accounting tools and improve your business decisions.
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What you'll learn
How to allocate the costs incurred to the company's products and the most important methods product costing.
How companies use cost information to calculate their profit or loss and assess their profitability.
How to use information from cost accounting to improve managerial decision-making.
Skills you'll gain
- Strategic Decision-Making
- Operating Cost
- Accounting
- Profit and Loss (P&L) Management
- Corporate Accounting
- Product Assortment
- Cost Control
- Inventory Accounting
- Management Accounting
- Resource Allocation
- Cost Accounting
- Cost Estimation
- Production Process
- Financial Reporting
- Cost Benefit Analysis
- Depreciation
- Cost Management
- Gross Profit
- Income Statement
- Accounting Systems
Details to know
See how employees at top companies are mastering in-demand skills
Advance your subject-matter expertise
- Learn in-demand skills from university and industry experts
- Master a subject or tool with hands-on projects
- Develop a deep understanding of key concepts
- Earn a career certificate from Technical University of Munich (TUM)
Specialization - 3 course series
View the Specialization trailer: https://www.youtube.com/watch?v=XE5Rx91bdYw
Many corporate decisions need cost accounting information. When you know the costs of your products, you will make better pricing decisions and you can better choose which products to offer. When you know the costs of your departments, you can better detect inefficiencies and you can better incentivize your employees.
In this Specialization, you will learn the fundamentals of cost accounting. Three courses cover the basics of cost accounting. We will start with an introduction to product costing. How can you figure out the costs of your individual products? Next, we will discuss how to connect cost information with revenue information to calculate profits and profitability. Finally, we focus on how to use the information provided by cost accounting systems to optimize your business decisions.
We have created the courses of this Specialization for interdisciplinary young professionals seeking to develop cost accounting skills. At the same time, the courses can help students in management and business administration to repeat the content of their introductory cost accounting course.
Applied Learning Project
This specialization is structured along with lecture videos and uses readings as well as a series of quizzes and interactive learning elements to help learners gain an understanding of the basics of Cost Accounting. The specialization also applies practical learning elements like building an Excel spreadsheet to determine cost functions and includes numerous illustrative examples from a variety of industries. The coursework teaches learners to plan, control, monitor, and document cost information. From product and service costing, to profit and loss calculation, and leveraging of cost information as the basis for decision-making, the specialization provides a sound foundation to cost accounting.
Basics of Cost Accounting: Product Costing
What you'll learn
You will learn how to make your company's cost structure transparent and how to record and calculate costs.
You will learn methods of product costing, i.e., how companies calculate costs of their products and services.
You will learn to decide which product costing system is most suitable for your company’s production program and production type.
You will learn how to determine overhead rates for the allocation of overhead costs to products.
Skills you'll gain
Cost Accounting: Profit and Loss Calculation
What you'll learn
You will learn different methods of preparing an income statement.
You will learn to explain why different methods yield different profit numbers.
You will learn to choose the best-suited method for your decision situation.
Skills you'll gain
Cost Accounting: Decision Making
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.
Skills you'll gain
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Frequently asked questions
You will take in total 10 weeks and approximately 25 hours to complete the Specialization. The first course "Basis of Cost Accounting" takes up to 12 hours, the second course "Cost Accounting: Profit and Loss Calculation" up to 5 hours and the third course "Cost Accounting: Decision-Making" up to 8 hours.
We offer three consecutive courses that introduce participants to the basics of Cost Accounting. Hence, you do not need any specific background knowledge.
Yes, as the content of the courses builds on each other, we recommend taking the courses in the following order:
Basis of Cost Accounting: Product Costing
Cost Accounting: Profit and Loss Calculation
Cost Accounting: Decision-Making
More questions
Financial aid available,