ACCT 4250 - Advanced Cost Accounting

Upon successful completion of the course students will be able to:

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