Elements of Costing (ELCO) – Single Unit £175

This unit covers the nature of cost and how it is used in a costing system. Students will understand the different classifications of cost and how they can be used for internal management decision making. As well as classifying costs, students will code transactions and build up a unit cost for a product or service, using a range of techniques to cost material, labour and overheads.



The Elements of Costing (ELCO) – Single Unit will allow you to study & revise for your final assessment efficiently in a structured format. Your personal timetable sets the pace of your course informing you which assignment and assessment needs to be completed by its assigned date. To prepare you for the final assessment each unit contains three assignments and a mock assessment. Between each assignment are study resources such as chapters from study books, videos, quizzes and helpsheets which allow you to gain the relevant knowledge to complete the online assessment which are all personally marked by your personal tutor. Below is what you will learn in this unit:

  • Assignment 1: This covers the costs and cost centres.
  • Assignment 2: Here you will learn about material costs and labour costs.
  • Assignment 3: This final section of this unit covers budgets, standard costs and spreadsheets.
  • Practice Assessment: Tests all knowledge and understanding for this unit




Additional information

What your will receive

Experienced and qualified personal tutors with instant and direct access during opening times – you can contact your tutor as much and as often as you like for support and guidance.

Personal course advisor for extra guidance and support with the administration aspect of your course.

Study Manual – written specifically to cover the course content. This textbook will explain and guide you through the course content, testing your knowledge along the way. You will receive this book in hard copy and it will be available to read online.

Interactive online quizzes – the end of chapter quizzes are designed to check your understanding before moving on to the next chapter. This gives you the opportunity to revisit any areas of concern before moving on.

How to guide – will give you clear and concise instructions to guide you through your module.

Personal timetable – this will show you key dates, such as when your assignments and practice assessment is due for submission. This enhances motivation and helps keep you on track of your studies.

Practice Assessment: This assessment will prepare you for the real-life exam. It will give you the opportunity to check you have a thorough understanding of the module content before taking the exam.

Instalment Options

2 Monthly Instalments, 3 Monthly Instalments, Full Payment