I. BASIC COURSE INFORMATION
- Course Title:
- Course Number:
- Course Name:
- Credit Hours:
- Semesters Offered:
ACC 105 Financial Accounting, MAT 030 Algebra I
II. COURSE DESCRIPTION
Concepts for planning, control and decision making are the focus of this course. Topics covered include job-order costing and process costing, cost behavior, cost-volume-profit analysis, direct and absorption costing, profit planning, segment reporting and standard costing. Just-in-time inventory systems are also studied. Students will solve various problems using spreadsheet software.
III. RATIONALE OF COURSE
Planning and control techniques are necessary management tools for all businesses and institutions. This course emphasizes how to measure and analyze costs relevant to different types of decisions.
IV. COURSE COMPETENCIES
- Analyze and report managerial accounting issues using word processing software and Lotus 1-2-3.
- Define cost terms, concepts, and classifications.
- Understand the flow of costs in a job-order costing system.
- Understand the flow of costs in a process costing system.
- Describe the elements of a just-in-time inventory system.
- Analyze costs and their behavior patterns.
- Perform cost-volume-profit analysis.
- Compare and contrast variable and absorption costing.
- Prepare the master budget.
- Perform variance analysis.
- Understand the issues related to segment reporting and profitability analysis.