Having trouble with Cost Accounting? This video will help! In this class, we will clarify the basic concepts applied to Cost Accounting, one of the most feared subjects by accounting students. But, before talking a little about Cost Accounting, I leave below some links of interest. OUR COURSES: Accounting School - The best for the CFC, EQT and Accounting Practice Exams for only R$49.90 per month: https://escolacontabil.com CFC From A to Z - Preparation for the Proficiency Exam: https://cfcdeaaz.com/ SLIDES FROM THIS CLASS: https://t.me/contabilidadefacilitada ACCOUNTING CLASSES FROM THE CHANNEL FOR BEGINNERS: Basic Accounting: • Basic Accounting: Debit and Credit... Law 6,404: • Law 6,404 - Accounting Part Main... Balance Sheet and Income Statement: • Balance Sheet and Income Statement: Understand the... Account Classification: • Account Classification Accounting... New CPC 00: • CPC 00 - Conceptual Framework Version... Our Instagram: @contabilidadefacilitada COST ACCOUNTING IS PERHAPS THE MOST FEARED DISCIPLINE AMONG EXAM TAKERS AND ACCOUNTING STUDENTS. Here are some tips for you to learn cost accounting once and for all. 1 - Cost accounting is different from general accounting. There is a question of reasoning more with calculations and logical reasoning than with the rules of general accounting. 2 - You need to know the concept and systematics of cost accounting. First know the classification of costs, expenses, expenditure, investment. Then know the concept of direct, indirect, fixed, variable costs. 3 - Know the three ratios of cost accounting: raw material, products in process, finished products. 4 - Ask countless cost accounting questions. This will help a lot. Anyway, cost accounting can become easy over time. In the Proficiency Exam, we recommend that our students leave the cost accounting questions for last. Not because of the difficulty of the subject (but, honestly, these are the hardest questions on the test), but because of the length. The questions have been absurdly long. Anyone can learn cost accounting over time and I'm sure it will be no different for you. 1- Direct costs are those that can be directly allocated to products. 2 - Indirect costs are those that cannot be directly allocated to products. Their allocation is made in an estimated and often arbitrary manner. 3 - Variable costs are those that vary according to the volume of production. 4 - Fixed costs are those that do not vary according to the quantity produced. 5 - Costs: expenditure related to goods or services used in the production of other goods or services. 6 - Production Cost for the Period is the sum of the costs incurred in the period within the factory. 7 - Cost of finished production is the sum of the costs contained in the finished production of the period. It may also contain production costs from previous periods existing in units that were only completed in the current period. 8 - - Cost of Products Sold is the sum of the costs incurred in the production of goods and services that are only now being sold. It may contain production costs from different periods, if the items sold were produced at different times. 9 - Primary Costs: sum of raw materials with direct labor. 10 - Transformation Costs: sum of all production costs, except those related to raw materials and other eventualities acquired and used without any modification by the company (components acquired ready-made, packaging purchased, etc.). (Eliseu Martins, “Cost Accounting”.) #costaccounting #costaccounting #costs