This course is designed to introduce participants to the basic concepts of cost accounting. Participants will be introduced to various cost accounting concepts including: organizational strategies, value chains, types of costs, cost allocation, and budgeting.
Publication Date: May 2020
Designed For
CPAs, CMAs, CGMAs, CFOs, CEOs, employees, staff accountants and anyone who is interested in obtaining a basic understanding of cost accounting.
Topics Covered
- Basic concepts of cost accounting
- Various cost accounting concepts
- Organizational strategies, value chains, types of costs, cost allocation, and budgeting
- Terminology
- Types of Costs
- Direct Product Costs
- Indirect Product Costs
- Cost Allocation
- Unit”Level Costs
- Contribution Margin Ratio
- Break Even Point
- Budgeting
- Balanced Scorecard
- Strategy Maps
Learning Objectives
- Identify the basic concepts of cost accounting
- Recognize what would not normally be considered when developing an organizational strategy
- Identify what is not part of the value chain
- Describe various costs and how they apply
- Describe various budgets and how they apply
- Recognize a period cost
- Describe the break-even point
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Robert K Minniti
DBA, CPA, CFE, Cr.FA, CVA, MAFF, CFF, CGMA, PI
Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona.
Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix. He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College.
He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, cyber security, privacy laws, data security, Sarbanes-Oxley compliance work and business consulting. In addition to his practice Dr. Minniti is an instructor teaching continuing professional education classes for a variety of providers and CPA Societies.
Dr. Minniti is currently serving as a board member on the National Association of Certified Valuators and Analysts' (NACVA) Litigation Forensics Board (LFB) and as a committee member on the Arizona State Board of Accountancy's Law Review Advisory Committee.