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Cost Management: Accounting and Control New

Course Description

Course Level:
Basic

Course Description

Cost Management: Accounting and Control covers the managerial use of accounting, financial, and operating data for planning, control, and decision making. Emphasis is placed on how to manage costs strategically in order to be globally competitive. The course is designed for managers and entrepreneurs who seek continuous improvement (CI) strategies. Topics include: analysis of costs, job order and process costing, break – even and contribution analysis, activity – based costing (ABC), cost allocation, responsibility accounting, budget for profit planning, short – term decisions, capital budgeting, quality costs and total quality management (TQM), inventory management and just in time (JIT).

LEARNING OBJECTIVES:

  • Understand the nature and scope of cost accounting and cost management.
  • Describe the three broad purposes for which the manager needs cost information.
  • Understand the roles of the controller, treasurer and Chief Financial Officer (CFO).
  • Identify and give examples of each of the basic cost elements involved in the manufacture of a product.
  • Become familiar with job order costing.
  • Describe how activity – based costing (ABC) enhances product costing accuracy.
  • Become familiar with various contribution margin concepts.
  • Be able to prepare sales, production, cost, and cash budgets.
  • Be able to compute return on investment (ROI) by means of the Du Pont formula.
  • Explain the target costing process for a new product.
  • Understand the sell or process decision.
    .

    TOPICS COVERED:

  • Chapter 1: Introduction to Cost Management
  • Chapter 2: Cost Classifications, Terminology, and Profit Concepts
  • Chapter 3: Cost Accounting Systems – Job Order Costing
  • Chapter 4: Activity – Based Costing
  • Chapter 5: Cost – Volume – Profit Analysis
  • Chapter 6: Analysis of Cost Behavior
  • Chapter 7: Budgeting for Profit Planning
  • Chapter 8: Responsibility Accounting, Standard Costs, and Variances
  • Chapter 9: Control of Profit Centers
  • Chapter 10: Performance Measurement, Balanced Scorecard, and Transfer Pricing
  • Chapter 11: Non – routine Decisions and Life – Cycle and Target Costing
  • Chapter 12: Capital Budgeting
  • Chapter 13: Capital Budgeting and Income Taxes
  • Chapter 14: Process Costing, Cost Allocation, and Joint Product Costing
  • Chapter 15: Total Quality Management and Quality Costs
  • Chapter 16: Inventory Management and Just – in – Time
    .

    REGULATORY REQUIREMENT:
    Please see the state requirements section on the course catalog page.

    SEAT TIME:
    This course has been approved for 13 hours.

    COURSE PRE – REQUISITE:
    N/A.

    TESTING:
    The student will be required to pass the final exam with a 70% in order to receive course credit.

    COURSE COMPLETION:
    Upon successful completion of this course, the student will be able to print their certificate online.

    ABOUT THE SUBJECT MATTER EXPERT:
    Dr. Jae K. Shim is Professor of Business at California State University, Long Beach.

    California. Dr. Shim received his MBA and Ph.D. degrees from the University of California at Berkeley (Haas School of Business.) He has co – authored over 50 professional business books and has been a consultant to commercial and nonprofit organizations for over 30 years.

  • PRICE:

    $175.5

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