Understanding costs

Overview

Do you struggle to understand the different type of costs for example the difference between fixed and variable costs, semi variable and variable costs? This module looks at costs in their simplest form and aims to demystify the language of costs and costing. You will learn about the different types of costs and cost behaviour, the uses and principles of standard costing and the principles of break-even analysis

Learning Outcomes

"By completing this course, you will be able to:

  • Appreciate why it is important to understand the behaviour of costs
  • Understand and explain the various components of total costs, including: fixed costs, variable costs and semi-variable costs
  • Understand the principles of standard costing
  • Understand the uses of standard costing
  • Understand the principles of break-even analysis"

Authored by: Gemma Rudrum

Gemma Rudrum qualified as a chartered accountant with Ernst & Young in 2004, working in their Assurance and Advisory team. She joined BPP in 2007 as a tutor teaching financial reporting and auditing subjects. She has also worked in our Learning Media team designing and developing content and is now our Head of Work Based Learning and runs our PGCert programme.

CPD Points: 1

CPD Duration (hours): 1

Access: 12 months from purchase date

Price: £35.00 (excludes VAT)
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