ACCT& 203 - Principles of Accounting III

Credits 5
This course will cover basic cost accounting concepts in addition to emphasis on applying accounting information to support and assist decision making. Topics covered include Job Order Costing, Process Costing, Cost Behavior, and Cost-Volume-Profit analysis, Budgeting, Performance Evaluation and Special Business Decisions. This is an advanced accounting course. Successful completion of in intermediate level accounting course is required.
Course Outcomes

Record a variety of transactions based on Job Order Costing. Prepare Financial statements and a Job Cost Sheet.
Apply overhead to multiple products using Activity Based Costing.
Prepare a Cost of Production report using the Weighted Average method of Process Costing.
Explain fixed, variable and semi variable cost behavior and determine fixed and variable components of mixed cost data using the High-Low method.
Apply Cost-Volume-Profit analysis to determine the breakeven point and the required number of units to be sold to earn a desired profit in accordance with generally accepted accounting principles.
Prepare an income statement using Absorption Costing and Variable Costing. Explain the difference in net income.
Apply cost analysis relating to a series of short term business decisions.
Apply capital budgeting models and present value techniques to business investment decisions.
Prepare a Master Budget and supporting schedules using excel.