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Course Level :Basic
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Credits :0.2
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Instructional Method :Nano Learning
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Pre-requisites :None
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Advance Preparation :None
Published : June, 2022
The flow of costs refers to the manner or path in which costs move through a firm. Typically, the flow of costs is relevant with manufacturing companies whereby accountants must quantify what costs are in raw materials, work in process, finished goods inventory, and cost of goods sold. The flow of costs applies not only to inventory but also to factors in other processes to which a cost is attached, such as labor and overhead.
Prime costs are defined as the expenditures directly related to creating finished products, while conversion costs are the expenses incurred when turning raw materials into a product. Prime costs and conversion costs include some of the same factors of production expenses, but each provides a different perspective when it comes to production efficiency.
Join this CPE Nano learning course by Thomas Coghlan to understand the accumulation of costs in raw materials, work in process, and finished goods. It will also help you to identify prime and conversion costs.
At this time, Nano learning is not accepted by all state boards. If you are not sure whether your state board accepts Nano learning, you can ask your state board or visit the NASBA registry.
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 through its website: www.NASBARegistry.org.
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He has worked at the intersection of entrepreneurship, business leadership, technology, and education for over 25 years, resulting in a wide range of skills and experiences...
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