Description
This course is the first in a two-course sequence that is a study of cost accounting focusing on its role in external and internal reporting and the resulting decision making processes. Emphasis is placed on cost understanding, cost behavior, Activity Based Costing, assignment and allocation of costs, job order and process costing, and application of standard costs. Upon completion, students will be able to apply the principles of cost accounting in the allocation and assignment of costs both for external and internal reporting and they will understand how this information impacts decision making in an organization. Prerequisite: BAC 242