Mastering Cost Concepts & Cost Behavior | Accounting Basics Explained (Part 1)

Описание: In this video, I break down the fundamentals of cost concepts and cost behavior—perfect for accounting students, professionals, or anyone wanting to strengthen their financial knowledge.

✨ Here’s what you’ll learn:

✅ Inventoriability of Costs: Product vs. Period costs, plus the composition of manufacturing costs (Direct Materials, Direct Labor, and Overhead).
✅Traceability of Costs: Direct vs. Indirect costs and how they impact decision-making.
✅Time-Frame Perspective: Committed vs. Discretionary costs explained with practical examples.
✅Cost Behavior: Variable, Fixed, and Mixed costs—how they behave, patterns to watch for, and tips to identify them correctly.

By the end of this video, you’ll have a solid foundation in cost classification and behavior, making complex accounting topics easier to understand.

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Timestamps:
00:00 - 09:15 - Introduction & Key Terms
09:16 - 20:10 - Cost Classification (Inventoriability)
20:11 - 23:36 - Cost Classification (Traceability)
23:37 - 30:30 - Exercise 1: Cost Classification
30:31 - 41:59 - Exercise 2: Comprehensive
42:00 - 47:00 - Cost Classification (Time-Frame)
47:01 - 53:45 - Cost Classification (Behavior)
53:46 - 1:02:23 - Exercise 3:Cost Behavior
1:02:24 - 1:06:54 - Theory Questions