Cost AccountingBack to Course Guide
The course presents an advanced analysis of data collection for planning and controlling operations. Topics include inventory cost evaluation, income determination, job order, process, and standard costing systems.
PREREQUISITE: Six semester hours of accounting including ACC2112.
UPON COMPLETION OF THE COURSE, THE STUDENT WILL BE COMPETENT IN:
- Evaluating cost accounting concepts in an organizational setting.
- Describing the role of a cost accountant.
- Analyzing inventory costing methods.
- Allocating overhead costs to jobs, departments, and cost centers.
- Recording journal entries applicable to a costing system.
- Identifying cost information relevant to financial statements.
- Identifying issues associated with production efficiency and quality control.
- Preparing production and operational reports.
- Analyzing job order and process costs systems.
- Determining multiple product processing systems.
- Analyzing joint products and by-products costs.
- Developing budget systems as a cost control technique.
- Applying standard costing concepts.
- Performing variance analysis as a cost control.
- Performing cost-volume-profit analysis and profit planning.
- Evaluating variable and absorption costing systems.