ACC (0201) 650 - Cost Management and Management Control

Credits: 3.00

The course builds upon the knowledge gained in ACC550. Students will study methods used in gathering and allocating costs to product and services: discuss how budgeting systems are used to evaluate managerial performance; and focus on the use of accounting information to achieve efficiency in operations and make managerial decisions.

Upon the completion of this course, the successful student will be able to

1. Identify the terminology and concepts in cost management and control.

2. Understand the methods used in accumulating and allocating costs to products and services.

3. Appreciate how inaccurate cost allocation can lead to poor product or service decisions.

4. Become familiar with the use of cost accounting information in making strategic and operational decisions.

5. Understand how long-term investment decisions are made with capital budgeting techniques.

6. Discuss various product pricing strategies and issues in customer profitability analysis.

7. Know how to translate business strategy into objectives and measurable outcomes and monitor.

8. Value the importance of ethical issues involved with accounting.