For a self-paced, guided learning experience
Fundamentals of Finance—Volume 2: Understanding Costs
Duration: 5 hours
Vijay’s business has grown rapidly. However, growth has brought its own set of challenges. The competition has stepped into the market with some aggressive pricing structures.
To survive in a fierce market situation, product differentiation alone is not sufficient for a competitive advantage.
Understanding costs and its impact on product pricing is important to thrive in a competitive market situation. This course will help you learn the concepts of costing using data pertaining to Vijay’s business. Let us check how Vijay handles this situation even as we learn more about costing and product pricing along with him.
In a market place with fierce competition, as a product manufacturer, the cost of your product plays a vital role in determining your business profits. Here, in this course, Vijay’s business venture provides a context to help us learn more about cost related concepts as outlined below:
- Fundamentals Of Costing
- Classification Of Cost
- Cost Centers
- The Costing Process
- Activity-based Costing
- Marginal Cost and Contribution
- Fixed and Variable Costs
- Break-even Point and Margin of Safety
- Cost Management
- The Budgeting System
- Cost Reduction
This course will help you deal with cost data related to your business confidently.
At the end of this course, you will be able to:
- Explain the concept of cost and its classification.
- Describe the process of arriving at product cost data.
- Explore what can go wrong in the costing process and its implications.
- Explain the role of variable and fixed costs on break-even point and margin of safety for a business.
- Describe how budgeting can be used as a tool for cost control.
- Examine the principles of cost management and cost reduction.
This course is meant to benefit:
- Entrepreneurs wanting to learn about the financial aspects of starting an organization and monitoring its performance
- Non-financial managers seeking an introduction to finance
- Finance professionals in organizations wanting to refresh their knowledge on financial concepts
- Business managers, entry-level finance professionals and business executives who have the need to:
- Understand finance and investments in organizations
- Analyze the performance of the company
- Analyze the performance of the competition