Lesson1

Review of general accounting

Double-entry accounting
Preparation of the trial balance, IS and BS. Value accounting versus cash accounting.
Example: intuitive evolution of IS and BS

Lesson 2

Overview of cost accounting

The need for more detailed accounting. Results per product line. The objectives of cost accounting: detailed budgets, costs per unit, evaluation of investments.

Lesson 3

Overview of cost accounting (cont’d)

More on the Income Statement. The meaning of consumptions. Introduction to unit costs. Budgeting. The Lego example.

Lesson 4

Direct costs

General description of the costs in a firm. Direct costs with a stock, direct costs with no stock. Material consumptions and others. FIFO.

Lesson 5

Direct costs (cont'd)

FIFO, LIFO and other methods (cont'd). Exercises.

Lesson 6

Indirect costs:
Absorption costing

Toward complete costs per unit. Traditional technique: 1) recording of OH in every cost centers, 2) apportionment of service cost centers costs to production cost centers, 3) absorption rates of production cost centers "full" OH by a specific unit, using various keys

Lesson 7

Absorption costing (cont’d)

More modern technique: activity-based costing. Comparisons. Exercises.

Lesson 8

Marginal costing

Fixed costs, variables costs. Break-even point. Equations. Graph. The simplest cost model.

Lesson 9

Cost models

Exercises with the simplest cost model.

Lesson 10

Cost models

Limiting factors. Exercises

Lesson 11

General review

Exercises

Lesson 12

General review

Exercises