Cost Accounting For Dummies

Learn to:

• Master important cost accounting concepts
• Apply your skills with real-world examples
• Score your highest in a cost accounting course

Get a grip on cost accounting? Easy.

Cost Accounting For Dummies tracks to a typical cost accounting course and provides in-depth explanations and reviews of the essential concepts you'll encounter in your studies: how to define costs as direct materials, direct labor, fixed overhead, variable overhead, or period costs; how to use allocation methodology to assign costs to products and services; how to evaluate the need for capital expenditures; how to design a budget model that forecasts changes in costs based on expected activity levels; and more.

• Cost Accounting 101 — find out how cost accounting relates to other areas of accounting, which types of costs are most important, and step-by-step explanations on cost-volume-profit and activity-based costing
• Plan for it — take a stroll through the budgeting process, analyze the differences between your budget and actual results using variances, and get the lowdown on overhead costs
• Make good decisions — get the scoop on cost drivers — and how they determine product price — to make good decisions in running a business
• Take action — discover how to allocate costs, analyze business profitability, use shared resources, and more

Open the book and find:

• Cost accounting terms and their purposes
• How to use cost-volume-profit analysis
• The hows and whats of activity-based costing
• Why budgeting is important
• The concept of relevance in cost accounting
• Considerations for process costing
• How to search for measures of quality