ACT 2003 - Cost Accounting

3 Credits

Covers accounting procedures for a manufacturing enterprise. Topics include entries for materials, labor, and overhead placed in production; job order and process cost systems; standard costs and variances analysis; and budgeting and control. Not intended for business administration transfer program.

Course Availability: Offered Spring Semester Only

Prerequisite: ACT 1113 - Principles Of Accounting II** with a grade of “C” or better.

Course Level Objectives
Upon successful completion of this course the student will be able to:

Differentiate between managerial and financial accounting (PLO 1)
Demonstrate principles of job order costing, activity-based, and process costing systems (PLO 1, 4)
Prepare and use static and flexible budgets for performance evaluation (PLO 1, 4)
Calculate overhead using predetermined rates and activity-based costing (PLO 1, 4)
Utilize the concepts of cost-volume-profit analysis for planning and decision making (PLO 1, 3, 4)
Develop critical thinking and problem-solving skills (PLO 4, 6)
Develop effective written and oral communication skills (PLO 5, 7)