ACC233 — Cost Accounting
3 , 3 lecture periods 0 lab periods Analysis of cost data for management planning, coordination and control. Includes the role of accounting information in management decision making, the cost function, cost-volume- profit analysis, relevant information for decision making, job costing, process costing, and costing methods. Also includes measuring and assigning support department costs, static and flexible budgets, standard costs and variance analysis, and strategic investment decisions. Formulate a spreadsheet to perform cost-volume-profit (CVP) analysis. Evaluate constrained resource decisions utilizing Linear Programing within a spreadsheet application. Identify support departments and allocate their costs to other departments using the Reciprocal Method within a spreadsheet application. Prepare, present, and defend solutions to various problems throughout the course. Outline: The Cost Function Identifying relevant costs for a decision Cost behavior Cost estimation techniques Estimating the cost function Regression analysis Uses and limitations of cost estimates Cost-Volume-Profit (CVP) Analysis Cost-volume-profit analysis Performing CVP analysis with a spreadsheet Assumptions and limitations of CVP analysis Margin of safety and degree of operating leverage Relevant Information for Decision Making Relevant information for decision making Special orders Keep or drop decisions Insource or outsource decisions Product emphasis decisions Job Costing Assigning product costs to i
Prerequisites: ACC212