Cost Accounting

Language: English
Location: Online
Duration: Flexible, approx. 10 weeks
Start: Anytime
Cost: 135 EUR
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.

Take a deep dive into the basic knowledge and skills required for cost accounting methodologies

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.
A sophisticated combination of modern teaches you the methods to impart the content 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.

Quick Info

Enroll in our certificate program on Coursera today and begin your learning journey with us!

Benefits

Lernen Sie, die Gewinn- und Verlustrechnung für Ihr Unternehmen zu verstehen und anzuwenden.

01

1

Profit and Loss Expertise

Go beyond mere cost calculation. Explore using costs for profitability. Learn absorption, variable costing, and diverse income statement structures for informed financial decisions.

02

2

Apply your knowledge in practice

Explore real-world cases, applying cost accounting principles to practical examples. Make strategic decisions based on practical cost accounting. Learn how to use cost data to optimize pricing, adjust drivers, and improve managerial decision-making to drive business success.

03

3

Industry-driven Case Studies

Immerse yourself, refining problem-solving skills for real-life scenarios, enhancing your professional expertise

Program Overview

You can find all the important information about the certificate program here. Below you can find out the objectives of the program, the exact details of the process, what you will learn and which lecturers will teach you the content.
You will learn in this program:
  • 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.

Program:

Cost Accounting

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.

Academic responsibility:

Prof. Dr. Gunther Friedl, Professor and Dean at TUM School of Management and Technology

Format & Timing:

Flexible, self-paced, approx. 10 weeks when investing 3-4 hours per week

Study location:

Online (Coursera)

Language:

English

Admission requirements:

Some knowledge of the basics of cost accounting, e.g. product and service costing

Graduation:

After successful completion of the final exam, participants will receive a certificate from Coursera and the Technical University of Munich.

Participation fees:

45 EUR  for the Verified Track

Discounts:

Free of charge in the Audit-Track (no Certificate or graded assignments). For more information about pricing models and packages, please visit coursera.org.

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

Module 1: Product Costing
  • Introduction to Cost Accounting
  • Cost-type accounting
  • Cost-center accounting
  • Product and service 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.
Module 2: Profit and Loss Calculation
  • Methods for preparing an income statement
  • Absorption and variable costing
  • Contribution-margin accounting
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.
Module 3: Decision Making
  • Cost functions and determining how costs behave
  • Cost-volume profit analysis
  • Cost and revenue information for operative decisions
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?

Testimonials

  • Excellent content and assignments that build on your knowledge, before reinforcing, and then expanding your learning. I recently secured new employment using these skills. Thanks!

    Former Participant in the Specialization

  • Not only did this specialization teach me the proper techniques of accounting and the different methods of preparing an income statement, it also taught me how to learn independently, how to persevere with a problem to find ways of solving it, and perhaps most significantly, enabled me to continue to develop my accounting skills.

    Former Participant in the Specialization

  • I liked that the Specialization included step-by-step exercises and tutorials. Unlike exercises where a student can succeed by simply doing as directed, the assignments foster active learning. The assignments were where I discovered whether I truly understood the material. This Specialization produces real learning.

    Former Participant in the Specialization

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    Phone: +49 89 289 28474
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