ACCTG 252 - Cost Accounting
Credit Hours: 4
Billable Contact Hours: 4
Prerequisites: ACCTG 152
Session Cycle: WI
This course is an introductory course designed to provide practical knowledge of cost accounting systems and procedures. The course begins with an overview of the nature and purpose of cost accounting and follows with the basic concept that cost flow matches work flow. The major areas of cost accounting are covered including job order cost accounting, process cost accounting, budgeting, standard costs, direct costing, and non-manufacturing costs.
Notes:
Business Division
Theory Hours: 60
Learning Outcomes:
1. Demonstrate an understanding of the flow of manufacturing costs through materials, work-in-process and finished goods inventory accounts as reflected in the schedules of cost of goods manufactured and cost of goods sold.
Applies to Accounting, A.A.S. Outcomes A, D, and F.
2. Analyze and journalize entries associated with job order and process cost accounting systems.
Applies to Accounting, A.A.S. Outcomes A, D, and F.
3. Prepare, analyze, and interpret financial statements and reports for manufacturing companies.
Applies to Accounting, A.A.S. Outcomes A, B, C, D, and F.
4. Prepare a master budget.
Applies to Accounting, A.A.S. Outcomes A, B, C, D, and E.
5. Perform standard costing and variance analysis, breakeven point and cost volume profit analysis.
Applies to Accounting, A.A.S. Outcomes A, B, C, D, and E.
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