Sample EMI Teaching - Accounting
The class mainly involves a group presentation on Activity Based Costing (ABC) where students explain the concept and application of this cost accounting method. The presentation covers the definition of product cost, the importance of determining cost per unit, and different approaches to calculating product costs including true cost and normal cost methods. It distinguishes between conventional unit-based costing and activity-based costing, outlining advantages and disadvantages of each. The discussion also explores how ABC provides more accurate cost allocation by assigning costs based on activities performed in production, supporting better pricing, profitability analysis, and resource allocation decisions. Additionally, the class clarifies the meaning of "activity" as distinct tasks or processes consuming resources to produce goods or services, highlighting the interrelation between activity-based costing and activity-based management to improve decision-making and cost control. The session concludes with student engagement through questions and clarification before wrapping up the presentation.
Duration: 31:45