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Course Description

Schoolcraft is excited to offer traditional credit face-to-face, hybrid, online, and remote classes. We are committed to providing students a safe experience based on recent COVID-19 concerns.

Please see the COVID-19 web page to learn more. Keep checking the schedule for additions on our New, Added, and Late Starting Courses web page.

Accounting - ACCT 226

Cost Accounting

4 Credit Hours
4 Lecture Hours

Course Description

Concepts of cost accounting as a management tool to support business decision making, control and planning will be introduced. The course will explore understanding cost behavior and how to use that understanding to predict future costs. The course focuses on actual and standard cost methods as applied to job and process cost systems; accounting for materials, labor and manufacturing overhead; direct costing method; variance analysis; and cost accounting cases. The use of accounting information to make managerial decisions will be covered.

Prerequisites

(A requirement that must be completed before taking this course.)

Recommended

Course Competencies

Upon successful completion of the course, the student should be able to:

  • Summarize the benefits of cost/managerial accounting.
  • Explain how cost/managerial accounting is used in organizational decision making.
  • Analyze financial activities and their effect on financial statements.
  • Explain internal controls.
  • Characterize costs based on cost behavior patterns.
  • Apply variable costing methods.
  • Apply absorption costing methods.
  • Apply activity-based costing and explain how it can support pricing and production decisions.
  • Examine cost variances.
  • Prepare budgets and pro-forma financial statements.
  • Apply cost/volume/profit techniques in pricing and production decisions.
  • Apply cost concepts in performance management.
  • Evaluate the concept of constraints and local sub-optimization.
  • Apply non-financial measures in performance management.

Course Schedule

 CourseSectionCourse TitleLocationCredit HoursInstructorsSeats Available ⁄Capacity ⁄WaitlistStatusFeeDays-Time-Room

Fall; 2021; ACCOUNTING; No of Weeks : 15; Begins : 08/30/2021

 226142515Cost AccountingRMT4Perpich E15/30/0Open$12.00T R  10:00 AM-11:54 AM WEBWEB

Winter; 2022; ACCOUNTING; No of Weeks : 15; Begins : 01/10/2022

 226112563Cost AccountingMC4Perpich E24/24/0Open$12.00M W  05:30 PM-07:24 PM HS600

Key: Day of the Week

  • T = Tuesday
  • R = Thursday
  • S = Saturday
  • X = Sunday