Course Description: A study of the basic principles of cost accounting applied to manufacturing, merchandising, and service businesses. Emphasis is on various accepted cost methods such as job order, process, and standard cost system. Pre-requisites: AC202 or CS140. 3:0:3
Educational Philosophy: The instructor emphasizes class discussion and a combination of examinations and classroom participation to determine mastery of the subject.
Learning Outcomes:1. The student should be able to describe the major role accounting plays in management decision making and how managerial accounting provides information to management to make optimal decisions.
2. Define and describe between direct and indirect costs, variable and fixed costs, and the three categories of inventories.
3. Understand the assumptions underlying cost volume profit analysis and apply to a company producing different products.
4. Outline a seven step approach to job costing and be able to track the flow of costs in the system.
5. Identify the situations in which process costing systems are appropriate and describe the five steps in process costing.
6. Use weighted average and first in first out method of process costing and explain the different results of each method.
7. Describe activity base costing and be able to cost products or services use it. Compare the results with department costing systems.
8. Describe the advantages of budgets and prepare an operating budget with supporting schedules.
9. Identify the differences between variable and absorption costing and explain the differences in operating income.
10. Outline how costs can behave in linear manner and be able to develop a cost line.
11. Explain non-linear costs and be able to calculate costs using different learning curves.
Course Assessment: Three equally weighted examinations and classroom participation.
Grading: Three exams 100 points each.
Late Submission of Course Materials: To be arranged with the consent of the instructor and the school.
Classroom Rules of Conduct: At no time will other opinions and presentations be disparaged.
Course Topic/Dates/Assignments: 22 Mar 05 Chapter One, 1-16, 1-17, 1-18, 1-24, 1-26, 1-29
24 Mar 05 Chapter Two, 2-1, 2-2, 2-6, 2-7, 2-8, 2-10, 2-16, 2-21, 2-27
29 Mar 05 Chapter Three, 3-1, 3-2, 3-4, 3-16, 3-17, 3-18
31 Mar 05 Chapter Three, 3-20, 3-23, 3-24, 3-30, 3-32
5 Apr 05 Exam I
7 Apr 05 Chapter Four, 4-2, 4-4, 4-16, 4-17, 4-18, 4-20
12 Apr 05 Chapter Seventeen,17-3, 17-6, 17-16, 17-17, 17-18
14 Apr 05 Chapter Seventeen,17-19,17-20, 17-21, 17-22,17-23
19 Apr 05 Chapter Five, 5-4, 5-10, 5-16, 5-18, 5-19
21 Apr 05 Chapter Five 5-20, 5-24, 5-25, 5-36
26 Apr 05 Exam II
28 Apr 05 Chapter Six, 6-1, 6-17, 6-18, 6-19, 6-23, 6-30
3 May 05 Chapter Seven, 7-5, 7-6, 7-16, 7-17, 7-22, 7-25
5 May 05 Chapter 10, 10-3, 10-8, 10-17, 10-22
10 May 05 Chapter 10, 10-27, 10-28, 10-29
12 May 05 Final Exam
Academic Honesty:Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life.
Park University 2004-2005 Undergraduate Catalog Page 101
Plagiarism:Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. <a href="http://www.park.edu/catalog">
Park University 2004-2005 Undergraduate Catalog</a> Page 101
Instructors are required to maintain attendance records and to report absences
via the online attendance reporting system.
Park University 2004-2005 Undergraduate
Catalog Page 100
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