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Cost Accounting –
acc227
(3 credits)
ACC 227 introduces students to the concepts and decision-making issues of cost accounting. Emphasis is placed on management, analysis, business strategy, and implementation. Topics include cost terms and purposes, budgeting, job costing, pricing, and cost management.
This undergraduate-level course is 9
weeks.
To enroll, speak with an Enrollment Advisor.
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Pricing
- Summarize the three major influences on pricing decisions.
- Examine why opportunity cost is used in decision making.
- Identify relevant and irrelevant costs in a decision-making scenario.
- Explain the difference between short- and long-run pricing decisions.
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Manufacturing Costs
- Differentiate between throughput, variable, and absorption costing.
- Prepare income statements using absorption costing and variable costing.
- Identify cost drivers that impact cost objects.
- Analyze indirect manufacturing costs.
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Budget Variances
- Calculate flexible budget variances.
- Develop a flexible budget.
- Determine the causes of over- and under-applied overhead variances.
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Operating Cost Systems
- Apply principles of cost accounting to an existing company.
- Solve professional ethics scenarios in relation to management accounts.
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Cost Information for Decisions
- Discuss data problems encountered in estimating cost functions.
- Estimate cost functions.
- Explain how companies use target costing to price products.
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Costing
- Apply the seven-step job costing process.
- Apply actual and normal costing processes.
- Distinguish between job costing and process costing.
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Budgeting
- Differentiate between an operating budget and an activity-based budget.
- Assess the advantages and disadvantages of an activity-based costing system.
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Cost Terms and Purposes
- Use cost-volume-profit analysis to plan variable and fixed costs.
- Differentiate among direct, indirect, variable, and fixed costs.
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Cost Accounting Fundamentals
- Differentiate among manufacturing-, merchandising-, and service-sector companies.
- Explain business functions in the value chain.
- Describe the relationship between cost-volume-profit analysis and a company's financial decisions.
- Describe the importance of cost accounting in managerial decisions.
- The University of Phoenix reserves the right to modify courses.
- While widely available, not all programs are available in all locations or in both online and on-campus formats. Please check with a University Enrollment Advisor.
- Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.
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