ACCT 4250 - Advanced Cost Accounting

Description

Advanced Cost Accounting topics include: Budgeting (both Static and Flexible), Strategic Pricing and Cost Measurement, Strategic Performance Measurement, Service and Split-off cost allocation, Responsibility Accounting, and Measuring and Assigning Costs for Income Statements.

Learning Objectives

• Determine the cost of goods and services using activity-based costing with multiple cost pools
• Differentiate between absorption and variable (direct) costing and explain how management can use each to manage production
• Apply accounting techniques to allocate support department common cost to a product or service
• Apply accounting techniques to allocate costs to joint products and byproducts
• Account for spoilage, rework, and scrap in the production of goods
• Describe techniques used in inventory management including economic order quantity, just-in-time, and simplified costing methods
• Employ various capital budgeting techniques to allocate scarce capital resources among investment opportunities
• Use transfer prices to assure decentralized management is acting in the best interests of the company as a whole