Product costing is essential to entities involved in manufacturing goods and providing services. It is important to determine the cost of a product or line of service as one of the bases for setting a price that will cover all the entity’s expenses and yield the desired profit. Understanding and analysis of cost accounting reports also helps management better evaluate entity’s performance for the formulation of operational decisions. 

This course equips the learners with a thorough understanding of cost concepts, just-in-time system, the cost of implementing quality, environmental cost management and application of various costing methods such as activity based, job order, process, and standard costing. Learners are expected to determine the cost of a product or service by applying the appropriate costing method both for assigning costs to inventories and cost of goods sold as well and for evaluating and controlling entity performance for formulating management decisions.