Traditional Costing

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Overview

4.0 Credits
ONLINE

This CPE course examines the overall purposes of costing and why it is important for a business to determine the cost of its products or services. It defines the most common cost behavior patterns which includes fixed costs, variable costs, and semi-variable costs. This course also includes details regarding both absorption and marginal costing and contains advantages and disadvantages for each. In addition, this course includes a discussion on pricing strategies based on cost.

Objectives

  • Calculate marginal and absorption costs.
  • Recognize the issues that arise in pricing decisions and the conflict between marginal and absorption costing.

Major Topics

  • The purpose of costing
  • Absorption costing
  • Marginal costing
  • Absorption and marginal costing profit statements
  • Reconciling the profits
  • Pricing strategies based on cost

Designed For

Management accountants wanting to develop skills in financial performance management CGMA exam candidates
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