ACC 253 : Cost Accounting
This course studies basic concepts and cost procedures as applied to any project-oriented enterprise. It examines job order and process cost systems and explores the relationship of cost accounting to control and decision-making functions of management. Prerequisite: ACC 102 with C or better or permission of department chair. Three lecture hours per week.
1. Define and discuss terms used in contemporary cost accounting. 2. Explain the functional role of cost accounting and its impact on the success of an organization. 3. Define ethics as it relates specifically to cost accounting as well as to business and to general society. 4. Explain basic cost concepts, including cost-volume-profit relationships. 5. Perform standard cost and variance analyses to help control costs within an organization. 6. Recognize the types of cost accounting systems used effectively to track costs incurred to produce and sell various product and service lines. 7. Explain cost procedures as applied to any project-oriented enterprise. 8. Utilize the knowledge of product and service costs to set pricing and to analyze relative profitability. 9. Use the appropriate techniques to measure financial and nonfinancial performance and to motivate managers toward organization goals.