Cost Accounting Basics
Hello my name is Dave and yes I'm a bean counter. No I didn't say alcoholic, that's a soft drink not a beer in my hand, and this is not a meeting of Alcoholics Anonymous. For those of you that don't know a bean counter is slang sometimes used to refer to a bookkeeper or accountant. I've searched the web for good bookkeeping and accounting tutorials and courses and came to the conclusion that they're hard to find; but, I ran across some great classroom lectures presented by Professor Alldredge.
He explains cost accounting in a laid back fashion and presents cost accounting concepts in an easy to understand fashion.
Who is this Course for ?
This cost accounting course is geared to business owners, managers, and individuals who need or want to learn the basics of accounting for products and services. Oh by the way, you can teach an "ole" dog new tricks. In other words, this cost accounting lecture series is for beginners (newbies) or those needing a quick refresher and is only an introduction into the world of cost accounting. They say a little knowledge is a dangerous thing. Well, my goal and his is to make you dangerous.
What’s Included ?
This basic cost accounting course is composed of 17 classroom video accounting lectures. My cartoon representative Professor Bean Counter introduces each lecture. Don't be confused. The cartoon intro is the same for each lecture but all the lectures are different. I'm a firm believer in giving credit where credit is due and this is my way of thanking and acknowledeging Professor Alldredge for his fine efforts. You can skip ahead of the intro if you so desire.
A written transcript or summary of each of the video lectures is also included as a review.
Cartoons are used to add a bit of humor to your Learning Experience. Who says that Learning Can't Be Fun ? Not Me !
What’s Covered ?
The course is organized into 5 major groups or categories as follow:
Introduction to Cost Accounting
Cost Accounting is a specialized branch(area) of accounting which requires some indepth studying. No, you won't be able to get a job as a cost accountant after completing this course; but, you should know or be able to perform the following:
Understand what cost accounting is, why it’s important, and the key terms needed to discuss and properly use costing information.
Understand what makes cost accounting “work”:
- What Job Order and Process Costing are and when they are used.
- What costs materials, labor, and overhead are charged to Jobs and Processes.
- Cost Accounting Special Inventory Accounts - Raw Materials, Work-In-Process, and Finished Goods.
- The journal entries used to record the costs charged tp jobs and processes.
- Cost accounting terms such as direct costs, overhead, variable costs, fixed costs, equivalent units, product costs, period costs, etc.
The Vertical Menu on the Left Side Of The Page contains the Lessons / Sections for Each Lesson.
In some cases, you may need to Scroll Down the Page to select the Lesson / Section.
Each Lesson / Section has Buttons at the Bottom of the Page to use for Moving Back to Prior Lessons / Sections and Moving Forward to the Next Lesson/ Section.
How Long ?
Each of the 17 videos lasts less than 5 minutes. The entire course can be completed in approximately 1-2 hours.
How To Use The Course
You can first Watch the Videos and then View and Read The Lessons / Sections
You can first View and Read The Lessons / Sections and then Watch the Videos
The following Learning Aids are included in order to help you to understand the accounting and bookkeeping concepts discussed in this accounting course:
Let's begin our Journey into the World Of Cost Accounting !
Copyright © Bean Counter
Cartoons on this site provided by Ron Leishman. All Toon images are copyright © . No images may be resold or redistributed without prior written permission from Ron Leishman. If you enjoyed them, get some of your own Toon-A-Day. Videos courtesy of Professor Dave Alldredge.
The information provided on this site is not intended to provide or be a substitute for specific individualized accounting, tax, legal, business, or investment planning advice. Where specific advice is necessary or appropriate, Bean Counter recommends consultation with a qualified tax advisor, CPA, Financial Planner or Investment Manager. The information provided herein is for general informational purposes only and should not be considered an individualized recommendation, personalized investment advice or an endorsement by Bean Counter. The information presented is obtained from what are considered reliable sources; however, its accuracy, completeness or reliability cannot be guaranteed and therefore should not be relied upon as such. Bean Counter accepts no liability for any direct or consequential loss arising from any use of this information.
Bean Counter and their affiliated parties make no representation regarding sites that you might access from this site and are not liable for any damages that you incur from their use.