In today’s fast moving, innovation driven economy, companies must make key decisions quickly or risk losing ground to their competition. To do this effectively, they need the most accurate view of their costs of doing business. This course describes the different types of costs incurred by an organization, how they behave and how each one impacts critical decision making.
This course focuses on how to manage, evaluate and take action to optimize overhead expenses.
Learning Objectives
- Describe the types of cost objects and their importance.
- Name the differences between types of costs, including fixed vs. variable, actual vs. budgeted, product vs. period and direct vs. indirect.
- Distinguish relationship between fixed and variable costs, as well as their impact on the bottom line.
- Observe the concept of relevant range and why it is important to understanding fixed costs.
- Describe the operating risk and leverage associated with the different types of costs models.
- Articulate different types of inventories and how they impact the bottom line.
- Describe how costs flow through the production process and the balance sheet to the income statement.
Last updated/reviewed: March 8, 2024
18 Reviews (65 ratings)
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
David FiondaCloud Accounting Expert