Cost Accounting –

acc349

(3 credits)

This course introduces cost terminology and flows, standard cost systems, relevant costing, budgeting, inventory control, capital asset selection, responsibility accounting, and performance measurement.
This undergraduate-level course is 5 weeks. This course is available to take individually or as part of a degree or certificate program. To enroll, speak with an Enrollment Representative.

Fundamentals of Managerial and Cost Accounting

  • Identify key components and terminology utilized within cost accounting.
  • Compare and contrast process and job cost systems.
  • Examine ethical issues in managerial accounting.
  • Differentiate between direct and indirect costs.

Cost Allocation

  • Assess the advantages and disadvantages of an activity-based costing (ABC) system.
  • Identify cost drivers for manufacturing and service activities.
  • Calculate overhead rates using cost drivers.
  • Compute allocation of overhead costs to cost pools, end products, and services.

Cost-Volume-Profit (CVP)

  • Distinguish among fixed, mixed, and variable costs.
  • Calculate a break-even point using the elements of cost-volume-profit (CVP).
  • Prepare income statements using both variable and absorption costing.

Variance Analysis

  • Explain the advantages and disadvantages of using standard costing.
  • Calculate price, usage, and overhead variances.
  • Determine the causes of overapplied or underapplied overhead variances.

Pricing Decisions and Budgeting

  • List the components of an operating and financial budget.
  • Determine pricing for external and internal sales.

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