Cost and Managerial Accounting I

Course Number: ACCT085

This course introduces managerial accounting concepts and terminology including the elements of a job costing system, the application of cost-volume-profit analysis the application of relevant costs to special decisions, including how they fit with the preparation of master budgets. Successful completion of this course will enable the student to: 1. Explain the basic purposes of a cost accounting system including its use in the managerial functions of planning, control, and special decision making. 2. Define basic cost terminology, cost concepts, and classifications of cost. 3. Apply the concepts of product costing for a job-cost system in a manufacturing environment. 4. Apply the concepts of cost, volume, and profit analysis. 5. Prepare a production report and related journal entries to record the flow of materials, labour, and overhead in a process costing system for a manufacturing enterprise. 6. Prepare the schedules involved in setting up an Activity-Based Cost System and the schedules used in analyzing the costs charged to a particular job or project.

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