ACC 320 - Cost Accounting

Description: The theory and practice of cost accounting with emphasis on its use for planning and control. Expands concepts of budgeting, standards, and profitability analysis introduced in ACC 132 .

Prerequisites: Program admission. ACC 131 , ACC 132 , BSA 131 , CSA 110 , ECN 232 , and ECN 236 

Recommended Preparation: ACC 234  

Credits: 3
Lecture: 3
Lab: 0

Course Content:

1. Cost terms, concepts, and behavior
2. Cost estimation
3. Product and service costing
4. Job costing
5. Activity-based costing
6. Cost-Volume-Profit analysis
7. Cost analysis for decision making
8. Cost management
9. Planning and budgeting
10. Variance analysis
11. Capital budgeting

1. Describe the way managers use accounting information to create value in organizations. (1, 2)
2. Differentiate costing systems appropriate to varied business scenarios. (3-5)
3. Given a cost accounting situation, analyze the variables included in the cost-volume-profit (CVP) model. (6)
4. Describe how variables included in the cost-volume profit model affect the profitability of the organization. (6)
5. Apply job costing and activity-based costing (ABC) models. (4,5)
6. Differentiate how job costing and activity-based costing techniques are utilized in a managerial capacity. (4, 5, 8)
7. Use standard costing information to analyze direct material, direct labor and overhead costs. (10)
8. Compare the four capital budgeting models to make appropriate investment decisions regarding capital assets. (9, 11)
9. Perform differential analysis to inform managerial decision making with regards to make vs. buy decisions, elimination of a product or division, or accepting a special order or project. (7-9, 11)