Prerequisite: ACT 212 and at least Junior standing; for Business majors and Finance minors only or by permission of the appropriate department chair
Measurement, analysis, and reporting costs associated with production and service activities. Cost accumulation and allocation methods are examined, including job order and process costing systems. Techniques for planning and control, such as budgeting and standard costing, are introduced and used to evaluate performance. Cost behavior, cost-volume-profit relationships, and decision-making applications are also emphasized. Ethical considerations in managerial decision-making and cost reporting are addressed.