Cost Accounting

The Cost Accounting course is an intermediate level course covering the managerial use of accounting data to assist managers in their plans and decisions regarding resource allocation, organizational control, and performance evaluation. Key activities include analyzing costing methods, overhead, and preparing and managing budgets and pricing.  

UPON COMPLETION OF THE COURSE, THE STUDENT WILL BE COMPETENT IN:

• Analyzing various inventory costing methods including activity-based costing.
• Allocating overhead to jobs, departments, and cost centers.
• Identifying cost information relevant to financial statements.
• Preparing production and operational reports.
• Reviewing budget and planning techniques.
• Preparing a master budget.
• Preparing a flexible budget.
• Preparing a balanced scorecard.
• Performing cost volume profit (CVP) analysis.
• Evaluating make-vs.-buy decisions.
• Evaluating pricing.
• Reviewing the performance of business processes.
• Performing capital budgeting analysis techniques.
• Identifying ethical considerations for the management accountant.
• Utilize artificial intelligence (AI) to perform a predictive analysis.

ACQUIRED SKILLS 

• Capital budgeting Analysis
• Balanced Scorecard Creation
• CVP Calculations