Cost Accounting

Cost accounting fundamentals: the accountant's role in the organization; an introduction to cost teams and purposes; cost-volume-profit relationships; costing systems and activity-based costing I - sevice and merchandising applications; costing systems and activity-based costing II - manufacturing applications. Tools for planning and control: master budget and responsibility accounting; flexible budgets, variances and management control I; flexible budgets, variances and management control II; income effects of alternative inventory-costing methods. Cost information for decisions: determining how costs behave; relevant revenues, relevant costs and the decision process; pricing decisions, product profitability decisions and cost management. Cost allocation and revenues: cost allocation I; cost allocation II; cost allocation - joint products and byproducts; revenues, revenue variances and customer-profitability analysis; process costing systems. Quality and jit: spoilage, reworked units and scrap; cost management - quality, time and the theory of constraints; operation costing, just-in-time systems and backflush costing; inventory management and just-in-time systems. Capital budgeting: captial budgeting and cost analysis; capital budgeting - a closer look. Management control systems: measuring input mix, yield and productivity; control systems, decentralization, transfer pricing and multinational considerations; systems choice - performance measurement and compensation.