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ACC 201 - Introduction to Cost Accounting
This course provides students with a thorough understanding of cost accounting concepts cost behaviors and cost accounting techniques as applied to manufacturing cost systems. Exercises using Enterprise software are incorporated into the course.
Upon satisfactory completion of this course students should be able to:
- Interpret the purpose of cost accounting and the uses of cost accounting data.
- Define the three basic elements of cost.
- Using the process, and job cost systems, record the complete accounting cycle.
- Apply factory overhead to work in progress production units.
- Define factors to be considered in establishing standard costs.
- Compute and analyze variances from standard using the two variance methods.
- Determine the basis and calculate cost allocations.
- Use Enterprise software to input cost accounting data and solve cost accounting problems in a manufacturing environment.
- Prepare budgets and variance anaylsis.
Prerequisite: Applied Accounting (ACC 100) or Financial Accounting (ACC 111) and Introduction to Enterprise Software (DPR 204).
3 hours each week 3 credits