ACCT1217

This course will cover the fundamentals of cost accounting. The course examines accounting practices to record, plan and control material, labor, and overhead costs. The course includes study of job-order, process cost and standard cost systems for manufacturing and service firms. Students will practically apply knowledge to real world scenarios and learn to analyze costs related to the manufacturing process.Student Learning Outcomes

• Describe the cost concepts, cost behaviors, and cost accounting techniques that are applied to manufacturing and service businesses.
• Apply cost concepts and cost behavior to the solving of management decisions.
• Determine the costs of products and services.
• Analyze the profitability of a product or service.
• Differentiate between job order and process costing methods.
• Explain standard cost accounting systems.
• Apply overhead costs using an overhead rate system.
• Prepare an operating budget for a manufacturer.
  
• Prepare common reports used for cost accounting including: cost of good manufactured; job cost sheets; departmental overhead analysis sheets and cost of production reports.
• Apply departmentalization concepts to increase accountability and accuracy.