ACC 223 - Cost Accounting

This is an archived copy of the 2020-2021 catalog. To access the most recent version of the catalog, please visit https://catalog.nmc.edu.

Course Description

This course explores cost accounting from a managerial perspective. Job costing, activity-based costing, and process costing are analyzed. Budgeting and variance analysis for management control are examined. Cost volume-profit analysis, inventory costing and capacity, and inventory management techniques are investigated. Group 2 course.

Credit Hours

4

Contact Hours

4

Lecture Hours

4

Required Prerequisites

ACC 122 or ACC 123

Recommended Prerequisites or Skills Competencies

MTH 111

General Education Outcomes supported by this course

Quantitative Reasoning

Course Learning Outcomes

Knowledge:
  • Describe terminology relative to cost accounting.
Application:
  • Construct master and flexible budgets.
  • Differentiate between job costing, activity-based costing, and process costing.
Integration:
  • Use ratios and other analysis techniques to make prudent business decisions.
Human Dimension:
  • Discover how cost accounting affects management decisions and a business overall.
Caring - Civic Learning:
  • Discover strategies to implement long-term financial, social and environmental performance as key imperatives.
Learning How to Learn:
  • Utilize case studies or simulations to discover their ability to make appropriate decisions that will affect business.