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May 02, 2024
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2022-2023 Official General Catalog [Archived Catalog]
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BUS 205 - Cost Accounting
Nature and purpose of Cost Accounting and Cost Management. Examine job-order, process, operation, and activity-based costing environments and accounting systems. Accounting for the allocation of manufacturing overhead, common costs, and joint costs. Comparison of absorption, variable, and throughput costing methods. Constructing budgets, emphasizing the flexible budgeting system, and the “analysis of variances” methods.
Prerequisite- Corequisite
Prerequisite: BUS 210 Managerial Accounting or BUS 101 Accounting II
Credits: 4
Hours
4 Class Hours
Course Profile
Learning Outcomes of the Course:
Upon successful completion of this course the student will be able to:
- Demonstrate knowledge required to identify, describe, and explain the way managers use cost accounting information to create value, to make decisions, and to evaluate performance in organizations.
- Demonstrate knowledge required to identify current trends in cost accounting and how they affect organizational decisions.
- Demonstrate knowledge required to define basic cost behaviors and explain how material, labor, and overhead costs are applied to a product at each stage of the production process.
- Demonstrate knowledge required to explain the concept of activity-based cost management and demonstrate its use for operational decisions.
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