myCPE

Comprehensive Review Of Costing Best Practices 2 Credits

Mar 10, 2022, 09:30 AM ET

Comprehensive Review Of Costing Best Practices 2 Credits

  • Rating

    4.3

  • Reviewed on

    February, 2025

  • Subject Area

    Accounting

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Mar 10, 2022, 09:30 AM ET

Learning Objective

  • To recognize how to precisely assess the cost of your products/services.
  • To develop a strategic plan.
  • To recognize the effect your operations have on costs and products/services.
  • To analyze solutions to manage, control and optimize costs.
  • To discuss product/services cost information with managers.

Course Overview

Whether a public company, private enterprise, or not-for-profit organization, cost accounting is vitally important to any entity that offers products or services. This webinar provides a comprehensive review of the costing best practices.

The webinar provides key importance to the variety of uses of the costing and costing system. For instance, costing systems and policies are used as management tools for a variety of purposes including identifying cost and income structures for separate products/services; and as an input to pricing evaluations. Increasingly they are used as a regulatory tool in many industries.

Further, the webinar takes a progressive approach to the uses of the costing systems. It also directs how the costing system can be used to apply effective control. For instance, a service/production cost model could do more than simply calculate the cost of your products/services. It should also account for the main performance indicators used by management to establish a company strategy. These indicators must be incorporated into the model so upper management can assess different scenarios and the model can be put to optimum use.

Major Topics Covered in this Online Accounting CPE Webinar:

  • Why profits often do not correspond to projections.
  • How to improve fixed cost allocation.
  • Costing for a better understanding of the operational data for products/services.
  • Techniques for improving product/services variance analyses.
  • Using effective dynamic budgets that keep up with changes in operations.
  • Learn how to keep costing models simple to use.
  • Cost accounting systems for determining the most profitable products/services.
  • Reconciling budgets with production/services costs.
  • Making benchmarking a part of cost analysis and evaluation.
  • Tools for assessing if costs are really in line with operations.
  • Many other best practices.

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 2 CPE Approved
Accounting for CPA in Canada 2 CPD Eligible
Financial Accounting for Certified Internal Auditors (CIA) 2 CPE Eligible
Accounting & Auditing for Certified Management Accountants (CMA) 2 CPE Eligible
Accounting for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 2 CPE Eligible
Association of Chartered Certified Accountants (ACCA) 2 CPD Eligible
Chartered Accountant - ICAEW 2 CPD Eligible
Financial accounting for Certified Valuation Analyst (CVA) 2 CPE Eligible
Accounting for Qualification in Internal Audit Leadership (QIAL) 2 CPE Eligible
Accounting for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Eligible
Accounting for Maine Licensed Public Accountant (ME-LPA) 2 CPE Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible
Chartered Accountants - Ireland (CAI) 2 CPD Eligible
CPA - Ireland 2 CPD Eligible
Chartered Accountants - Scotland 2 CPD Eligible
License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 2 CPE Approved
CPA in Canada 2 CPD Eligible
Certified Internal Auditors (CIA) 2 CPE Eligible
Certified Management Accountants (CMA) 2 CPE Eligible
Internal Audit Practitioner (IAP) 2 CPE Eligible
Certified Wealth Strategist (CWS) 2 CE Eligible
Certified Fiduciary and Investment Risk Specialist (CFIRS) 2 CE Eligible
Certified Valuation Analyst (CVA) 2 CPE Eligible
Qualification in Internal Audit Leadership (QIAL) 2 CPE Eligible
Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible

Additional Information

Credits

2

Course Level

Basic

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Elevate Your Career with Michel Morley's CPE Courses at myCPE

Michel Morley

Founder, Mike Morley

  • 4.2
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Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

“Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

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What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

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What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

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GC

Greg Clarke, CMA

5

Very interesting discussion of the value and of best practices of costing.

TA

Thomas Aromando, CPA (US)

5

Excellent course

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