Technical University of Munich (TUM)

Cost Accounting: Decision Making

This course is part of Cost Accounting Specialization

Taught in English

Some content may not be translated

Gunther Friedl
Marcus Witter
Peter Schaefer

Instructors: Gunther Friedl

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Course

Gain insight into a topic and learn the fundamentals

4.8

(33 reviews)

Intermediate level

Recommended experience

8 hours (approximately)
Flexible schedule
Learn at your own pace

What you'll learn

  • You will learn methods that help to figure out how costs will behave if you adjust produced or sold quantities.

  • You will learn how cost information can support business decisions best.

  • You will learn to distinguish costs that are relevant for business decisions from costs that are irrelevant.

Details to know

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Assessments

21 quizzes

Course

Gain insight into a topic and learn the fundamentals

4.8

(33 reviews)

Intermediate level

Recommended experience

8 hours (approximately)
Flexible schedule
Learn at your own pace

See how employees at top companies are mastering in-demand skills

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This course is part of the Cost Accounting Specialization
When you enroll in this course, you'll also be enrolled in this Specialization.
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There are 3 modules in this course

Cost accountants want to support decision making. To do so, they should not only calculate current costs and income, but they should also be able to tell managers how costs might change depending on managers' decisions. "How would costs change if we produced more or less products? How would they change if we produce more or less variants of products? How would they change if we increase the quality of our products?" Cost functions help to answer these questions and in this module, we make you familiar with them. First, we show you some typical cost functions and, second, we introduce a variety of methods that cost accountants can use to determine cost functions. Finally, we show you how accountants can document cost forecasts.

What's included

7 videos6 readings5 quizzes2 plugins

When companies consider offering a new product, they might want to know how many units they need to sell in order to avoid losses or to achieve a targeted profit. Cost-volume profit analysis is a simple tool that helps answer these questions. It illustrates how costs, revenues, and profits depend on sold quantities.

What's included

9 videos1 reading10 quizzes1 plugin

In the beginning of this course, you learned that companies use Cost Accounting to support managers' decision-making. In this module, we outline some business decisions and discuss how cost information can support them best. For example, we discuss pricing decisions and product-mix decisions under capacity constraints.

What's included

11 videos4 readings6 quizzes1 plugin

Instructors

Instructor ratings
4.7 (10 ratings)
Gunther Friedl
Technical University of Munich (TUM)
4 Courses15,056 learners

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Recommended if you're interested in Finance

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