CORE CONCEPTS OF MANAGEMENT
MARKETING MANAGEMENT
FINANCIAL MANAGEMENT
HUMAN RESOURCES MANAGEMENT
OPERATIONS & PRODUCTION MANAGEMENT

Introduction to Cost Terms and Concepts
This lesson illustrates the perspective of cost accounting as opposed to fi nancial accounting. The author is R Ram Mohan, a Financial Consultant and a former Financial Controller of Alcatel Business Systems India Ltd. The lesson journeys through business houses, shop fl oors and service delivery points to provide a fundamental understanding of cost terms and concepts. Cost objects, cost drivers, fi xed costs, variable costs, semivariable costs, full cost, unit cost, direct costs, indirect costs, prime costs - a hat full of terms! They all become palpable. With the terms, defi nitions and corresponding data established, the author moves on to Break Even Analysis. This lesson is the primer in the trilogy (FM/CA1, FM/CA2 and FM/CA3).
FM/CA1

24 Mins

26 Mins

70 Pages
Equivalent classroom time: 8hrs