ACC 307: Cost Accounting

Cost accounting furnishes management with the necessary accounting tools for planning and controlling activities and for making many business decisions. Specifically, the collection, presentation and analysis of cost data helps management as it deals with the areas of cost volume-profit analysis; job-order and process cost systems; standard, differential and activity-based cost systems; variance analysis; and static and flexible budgeting. By focusing on basic concepts, analyses, uses and procedures instead of procedures alone, the course shows cost accounting as a tool for business strategy and implementation. The role of the accountant as both decision-maker and data provider is considered. Prerequisite: ACC 106.