ACCT 2450 Cost Accounting

This course explores the core principles of managerial cost accounting, focusing on the accumulation and reporting of financial information for product, job, process, standard costing, and activity based costing. It also examines the essential tools and processes that support planning, decision-making, profitability, and control activities within an organization. Prerequisite: Completion of ACCT 2010. (3 lect.)

Credits

3 credits

Major Topics

• Introduction to cost/managerial accounting
• Job order and process costing accounting
• Cost-volume-profit relationships
• Variable costing
• Activity–based costing
• Profit planning
• Standard costs
• Flexible budgets and overhead analysis
• Segment reporting

Outcomes

In order to successfully complete this course, the student will:

1. Examine the role and purpose of cost/managerial accounting.

2. Examine job order costing.

3. Analyze process costing.

4. Calculate cost accounting metrics used in activity-based costing.

5. Apply cost-volume-profit formulas to determine factors including break-even point, sales dollars for break-even, and necessary production to reach financial goals.

6. Explore profitability and planning.

7. Assess standard, variable, and activity-based costs methods.

8. Evaluate flexible budgets, standard budgets, and overhead analysis.

Other Information

Any information placed here must be adhered to by all instructors:

Please contact the on-campus instructor for the current textbook.