Cost Accounting

  • English
  • Online/Distance
  • variable, self-paced
  • 135 €

Basic knowledge and skills required for cost accounting methodologies

Companies do not only need to know the cost of different products, but they also need to know whether they will make a profit or a loss. We explain how companies use cost information to calculate their profit and assess their profitability. Depending on how companies account for changes in inventories, we distinguish “absorption costing” and “variable costing”. Some companies also structure their income statement according to the “nature of expense method”, while others structure it according to the “cost-of-sales method”. We explain both methods and discuss their advantages and disadvantages.

Why this program?

The specialization follows a sophisticated combination of modern teaching methods to impart the contents in a profound way. You will learn different methods of preparing an income statement. You will also learn to explain why different methods yield different profit numbers and how to choose the best-suited method for your situation. The program was compiled by an interdisciplinary team of internationally renowned experts from the field of Cost Accounting.

Are you interested in this certificate or similar programs? Stay up to date!

YouTube

By loading the video, you agree to YouTube's privacy policy.
Learn more

Load video

Details

  • Certificate: After successful completion of the final exam, participants will receive a certificate from Coursera and the Technical University of Munich.
  • Duration in weeks: 10
  • Language: English
  • Academic Responsibility: Gunther Friedl
    Professor and Dean at TUM School of Management and Technology
  • Target group: People who have a keen interest in gaining skills and knowledge in cost accounting, in understanding the methodologies behind the topic and in learning to use a wide range of useful tools.
  • Format: Online, self-paced
  • Location: Online - via Coursera
  • Module(s): Course 1: Product Costing Modules

    (1) Introduction to Cost Accounting
    (2) Cost-type accounting
    (3) Cost-center accounting
    (4) Product and service costing

    Course 2: Profit and Loss Calculation Modules

    (1) Methods for preparing an income statement
    (2) Absorption and variable costing
    (3) Contribution-margin accounting

    Course 3: Decision Making Modules

    (1) Cost functions and determining how costs behave
    (2) Cost-volume profit analysis
    (3) Cost and revenue information for operative decisions
  • Program Fee: The price for each course is 45 euros:

    Basics of Cost Accounting: Product Costing – 45€ Cost Accounting: Profit and Loss Calculation – 45€ Cost Accounting: Decision Making – 45€

    Learners can purchase each course individually or as a program. If purchased as a program, the cost is €55/month (subscription model).

    Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit.
  • Access requirements: Some knowledge of the basics of cost accounting, e.g. product and service costing

*Based on our experience, the German tax benefits help many of our participants to self-finance their education as these can be worth of up to 50% of tuition fees and program related travel costs. Please, consult your personal tax advisor for more details. For participants of our programs residing outside Germany this might be applicable, please check the situation with the local tax authorities in your country of residence.

CONTENT

Course 1: “Product Costing”
The core of the first course is to learn how companies record total costs and calculate unit costs for their individual products or services. For example, how can a car manufacturer figure out the costs of an individual car series? During the first weeks, participants learn what costs are and how to distinguish them from expenses or cash flows. Participants will understand how companies record total costs and distinguish important cost types such as material costs, personnel costs, or depreciation. At the core of their cost-accounting system, companies allocate overhead costs to individual products. We show participants how to allocate the costs incurred to the company’s products and introduce them to the most important methods and challenges of product costing.

Course 2: “Profit and Loss Calculation”
Companies do not only need to know the costs of different products, but they also need to know whether they make a profit or a loss. We explain how companies use cost information to calculate their profit and assess their profitability. Depending on how companies account for changes in inventories, we distinguish “absorption costing” and “variable costing”. Some companies also structure their income statement according to the “nature of expense method”, while others structure it according to the “cost-of-sales method”. We explain both methods and discuss their advantages and disadvantages.

Course 3: “Decision Making”
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?

Lecturers

  • Gunther Friedl – Professor and Dean at TUM School of Management and Technology
  • Peter Schäfer – Postdoctoral at TUM, Chair of Accounting
  • Marcus Witter – Doctoral Candidate at TUM, Chair of Accounting

Are you interested in this certificate or similar programs? Stay up to date!

Application

Join the MOOC

Contact

Get in touch
Help & Contact
close slider
How can we help you

Vesna Gajic
Program Manager

+49 89 289 28474
Vesna Gajic

Request CV assessment
to check which program is right for you

Meet the team
running the EEC
Get our address
for visitors or postal
We're here to help you