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National College Credit Recommendation Service

Board of Regents  |  University of the State of New York

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Accounting 303: Cost Accounting

Location: 

Various; distance learning format.

Length: 

55 hours (11 weeks).

Dates: 

April 2012 – Present.

Instructional delivery format: 
Online/distance learning
Learner Outcomes: 

Upon successful completion of the course, students will be able to: differentiate the components and purposes of various costing methods, techniques, and formulas including cost accounting, job-order costing systems, process costing, and variable and activity-based costing; use cost accounting formulas, such as those used to calculate the break-even point, target net income, gross profit margin, and contribution margin; assess how different industries use activity-based costing methods to determine the costs of various products or services; breakdown the purpose and components of the master budget; dissect the process of CVP analysis to determine the relationship between company costs, revenue and sales volume; summarize effective techniques for estimations and planning, such as using employ regression analysis to achieve project cost goals; analyze various aspects of cost accounting in inventory, such as inventory accounts, goods and inventory statements, and methods of inventory cost calculations; and evaluate modern trends in managerial accounting and their effects on business strategy, such as how and why predictive accounting has risen in popularity.

Instruction: 

The course is self-paced. Instruction is delivered through online video and text lessons. Students are assessed through quizzes and a proctored final exam. Topics include: cost classifications in accounting; costing methods and techniques; formulas for cost accounting; standard costs in accounting; job order cost system in accounting; activity-based costing overview; product and service costing; budgetary process; cost behavior analysis; cost-volume-profit analysis overview; cost estimation; service department and joint cost allocation; cost accounting for decision making; ethics in cost accounting; and modern trends in accounting.

Credit recommendation: 

In the upper division baccalaureate/associate degree category, 3 semester hours in Cost Accounting or Business (4/17).

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