Cost Accounting Material Costing (College Level)
- 1x (Normal)
Introduction to Material Costing5:59
objectives of material cost controlling2:21
Requirements of Material cost control5:57
elements of material cost control1:22
techniques of material cost control1:56
Decision making in material purchases1:24
Material purchase procedure3:15
supplier selection procedure2:45
Supplier payment procedure1:58
Just in Time Purchases4:01
About This Class
In this Course you will understand the importance of material in the overall cost of any product.
Material can be classified into two types. Direct Material and indirect Material. We should know how to value the Material Cost while arriving out the total cost of a product.
Material Control is another important topic which explains the need for maintaining adequate material at all intervals to have interruption free production.
You will understand how to value the materials. What are the items that should be included in the cost of the material and what are the items that should be excluded.
You will understand what are the store records that should be maintained.
You will understand the techniques of inventory Control like setting various stock levels, ABC Analysis, Economic Order Quantity, Perpetual Inventory, Control Ratios Etc,.
You will understand the treatment of Normal and Abnormal loss of materials, also the accounting and control of Waste, Scrap, Spoilage and defectives.
You will understand what is the Bill of Materials, Material Requisition Note, Material Issue Procedure, etc.
With this Course, you will gain insight into various aspects of material costing and it will be of great use while approaching for professional examinations and practical applications.
I am a Chartered Accountant with tonnes of passion for teaching.
I teach Financial Management for Chartered Accountancy and Cost and Management Accountancy students in Ernakulam,India. and I teach 100+ Finance, Accounts, Costing, Banking, Credit Analysis, Statistics, etc. in Skillshare.
I also hold
- Post Graduate Diploma in Business Administration in Finance from Symbiosis, Pune
- Bachelors in Commerce, from Loyola College, Chennai.
I worked in State Bank of India as Assistant Vice President - Credit for a period of four years after which i started my Chartered Accountancy Practice.
During the stint in State Bank of India, I worked on credit proposals of Mid Corporate Units and gained good experience in
a) Financial Analysis
b) Risk Assessment
c) Viability Study
d) Evaluating business models
e) Project Finance
f) Working Capital Management, etc.
I conduct work shops for Entrepreneurs, Chartered Accountancy / Cost and Management Accountancy Students on the topics like
a) Project Finance
b) Credit Risk Assessment
c) Entrepreneurship Development
d) Finance for Non Finance Executives
e) Burning Desire for Entrepreneurship
I love teaching and i want fundamentals of accounting and finance to reach students and so i am here.