ACCT210 Cost Accounting I

Department of Business Studies: Accounting

I. Course Number and Title
ACCT210 Cost Accounting I
II. Number of Credits
3 credits
III. Number of Instructional Minutes
2250
IV. Prerequisites
ACCT106 (C or better) or permission of the Department of Business Studies
Corequisites
None
V. Other Pertinent Information
None
VI. Catalog Course Description
This course provides an understanding of cost accounting systems and procedures and how they are used for business strategy and implementation. This course presents an analysis of key data for planning and controlling to assist in management decisions.
VII. Required Course Content and Direction
  1. Course Learning Goals

    Students will:

    1. develop an understanding of the elements and behaviors of manufacturing costs;
    2. demonstrate an understanding of and apply the concepts of cost accounting systems; and
    3. apply the concepts of budgeting and cost-volume-profit analysis to manufacturing and service concerns.
  2. Planned Sequence of Topics and/or Learning Activities

    1. monitoring costs
    2. job order cost cycle
    3. purchasing materials
    4. storing and issuing materials
    5. controlling and valuing inventory
    6. timekeeping and payroll
    7. charging labor costs into production
    8. departmentalizing overhead costs
    9. setting overhead rates
    10. applying manufacturing overhead
    11. completing the cost cycle
    12. the analysis of cost behavior
    13. budgeting
    14. standard costs: materials and labor
    15. manufacturing overhead: standard costs completing the accounting cycle for standard costs
    16. cost-volume-profit analysis
    17. analysis of manufacturing costs for decision making
    18. cost accounting for distribution activities and service business
  3. Assessment Methods for Course Learning Goals

    The assessment of course learning goals will be based on exams, a comprehensive final exam which encompasses the application of managerial accounting principles, assignments, performance based tasks and projects, and/or instructor evaluation.
  4. Reference, Resource, or Learning Materials to be used by Student:

    See course syllabus for required textbook and any related materials.

Review/Approval Date - 5/99; Revised 12/2011; New Core 8/2015