ACCT 230 Cost Accounting
This course covers fundamentals of cost accounting including terminology; cost-volume-profit analysis; costing systems; operating, financial, and flexible budgets including variances; and other topics such as transfer pricing and performance measurement. This course prepares students for business decisions in cost accounting and for the Certified Public Accountant (CPA) exam.
Hours Weekly
3 hours weekly
Course Objectives
- Distinguish between financial and management accounting and understand how management
accountants affect business decisions.
- Identify and explain cost accounting terminology.
- Prepare cost-volume-analysis and understand its use in business decisions.
- Describe job order, activity-based, and process costing and when applied in businesses.
- Compare and contrast job order, activity-based, and process costing systems.
- Discuss variable and absorption costing and evaluate use for businesses.
- Apply methods of cost allocation for joint products and byproducts.
- Prepare operating and financial budgets and explain responsibility accounting.
- Distinguish between flexible budgets and variances and compute various variances.
- Explain transfer pricing and identify business decisions relating to transfer pricing.
- Examine performance measures including compensation
Course Objectives
- Distinguish between financial and management accounting and understand how management
accountants affect business decisions.
Learning Activity Artifact
- Other (please fill out box below)
- Recorded practical exam
Procedure for Assessing Student Learning
- Other (please fill out box below)
- Rubric
- Identify and explain cost accounting terminology.
- Prepare cost-volume-analysis and understand its use in business decisions.
- Describe job order, activity-based, and process costing and when applied in businesses.
- Compare and contrast job order, activity-based, and process costing systems.
- Discuss variable and absorption costing and evaluate use for businesses.
- Apply methods of cost allocation for joint products and byproducts.
- Prepare operating and financial budgets and explain responsibility accounting.
- Distinguish between flexible budgets and variances and compute various variances.
- Explain transfer pricing and identify business decisions relating to transfer pricing.
- Examine performance measures including compensation