Course Description
The student will be able to determine product costs and to apply the elements of cost control to basic job order, process, and standard cost systems. He or she will apply the elements of cost recognition and control to an examination of the nature of manufacturing and service costs and the use of relevant accounting data for the purposes of making cost systems which lead to effective management decisions. Computerized exercises will be included.
Prerequisite(s)
ACCT 1523 - Must be completed prior to taking this course.
At the end of this course, students will be able to:
- Differentiate between job order and process cost systems
- Understand cost behavior and Cost-Volume-Profit analysis
- Compute income using various accounting and managerial methods
- Examine the criteria to prepare, implement and assist management with budgets
- Measure performance using variances and variance and analysis
- Organize a business using decentralized operations
General Education Distribution Area
Communications