Cost Accounting Lecture: Definition of Cost, Cost Calculation, Closing, Business Plan, Performance Evaluation

DY Management Research Institute

(Director Ryu Dae-young, Ph.D. in Business Administration/Business Consultant (Finance))

• YouTube: www.youtube.com/@dy-4714

• N Blog: https://blog.naver.com/udae025

• Email: daeyoung.lyu@gmail.com

This is Daeyoung Ryu, who runs the 'DY Management Research Institute' on YouTube and N Blog.

I would like to help those who are working in related fields based on my experience in the company and what I have studied in management. I will provide an approach that can help you in a very practical way in cost, management, accounting, financial business plan, investment attraction, and overall management. If you would like to collaborate on a lecture I have posted or my area of expertise, please contact me by email!

※ Areas of expertise:

• Management/cost consulting, business feasibility review, financial business plan establishment, management simulation, financial projection for investment attraction.

• Excel practical training, data visualization using Excel, work efficiency using Excel. We will cut your work time in half.

• We welcome lectures/work requests/Q&As related to specialized fields and YouTube videos.

※ Introducing the cost/management accounting lecture.

I recommend this course to those who have started related work in a company or want to study and expand their field of work. The reality is that work is given to you in a company, but there is no one to teach you and there is no place to learn.

If you are working and have not majored in cost/management accounting, you may have vague difficulties with this field. Even if you have studied business administration, there are probably many people who have vague memories.

Just watching this one lecture will help you understand the overall management of the company to some extent. It covers everything from the basics of cost to cost calculation, business planning, and performance evaluation.

I have been working in the field of cost, finance, management, and planning for 20 years in the company. I would like to share my experience and capabilities as a manufacturing cost management practitioner and manager with those who need it.

This lecture will cover the things you need to know as a cost manager at a company.

※ Table of Contents of the Lecture

1. What is cost management accounting?: Definition of cost management accounting, differences between financial accounting and management accounting

2. Cost concept: Cost and expense, manufacturing cost and sales management expense, three elements of cost, flow of manufacturing cost, manufacturing cost statement, types of cost and profit

3. Cost calculation: Types of cost calculation, indirect cost allocation, estimated cost and actual cost calculation, cost calculation flow (Excel example)

4. Estimation and analysis of cost and profit: fixed cost and variable cost, CVP analysis (cost-operating rate-profit analysis), operating rate-contribution profit analysis

5. Business Plan: What is a Business Plan?, Business Plan Process, Role of a Business Plan, Business Plan Case (Excel Case)

6. Performance Evaluation: Management Cycle, What is Performance Evaluation?, Purpose of Performance Evaluation, Strategic Goals and KPI, Balanced Scorecard (BSC), KPI Selection Principles

7. Profitability Analysis: Profitability Analysis Process, Profitability Analysis Request Form, Profitability Analysis Calculation Criteria, Profitability Analysis Results

※ If you purchase this course, you will receive the course materials (pdf) along with cost flow (Excel) and business plan case (Excel). If you look at the Excel, it will be of great practical help.

※ Recommended for these people.

- Manufacturing workers: All employees including finance department, sales, marketing, and manufacturing management

- People who work in sales/marketing and need a cost concept

- Someone who has overall management responsibility for a small or medium-sized company

- For those in the finance department who need cost knowledge: Cost settlement process

- Those who are studying cost

- Anyone curious about cost accounting practices

※ What you can learn from this lecture

In this lecture, you will learn what cost is and how actual companies calculate costs.

Depending on the characteristics of the company, the cost calculation method is different, and you can learn about each cost calculation method.

You will also learn how to conduct business planning and performance evaluation profitability analysis.

※ Below is an excerpt from the lesson material.