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.
ACC 122 or ACC 123
Recommended Prerequisites or Skills Competencies MTH 111
General Education Outcomes supported by this course
Course Learning Outcomes Knowledge:
- Describe terminology relative to cost accounting.
- Construct master and flexible budgets.
- Differentiate between job costing, activity-based costing, and process costing.
- Use ratios and other analysis techniques to make prudent business decisions.
Caring - Civic Learning:
- Discover how cost accounting affects management decisions and a business overall.
Learning How to Learn:
- Discover strategies to implement long-term financial, social and environmental performance as key imperatives.
- Utilize case studies or simulations to discover their ability to make appropriate decisions that will affect business.