At the end of this course, students will be able to compare and contrast marginal (or variable), throughput and absorption accounting methods in respect of profit reporting and stock valuation; discuss a report which reconciles budget and actual profit using absorption and/or marginal costing principles; discuss activity-based costing as compared with traditional marginal and absorption costing methods, including its relative advantages and disadvantages as a system of cost accounting; apply standard costing methods, within costing systems, including the reconciliation of budgeted and actual profit margins.
- Activity-based costing,
- Integration of standard costing with marginal cost accounting,
- Absorption cost accounting and throughput accounting,
- Back-flush accounting,
- Just in time production,
- Interpretation of variances:
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