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A325 Cost Accounting

This course introduces the concepts and principles of cost accounting, focusing on providing management with information for decision making and strategy. Topics include cost behavior, direct costs vs indirect costs, budgeting, and evaluation of performance.

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A325 Cost Accounting

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  1. A325Cost Accounting August 19, 2012 A325 - Reed Smith

  2. What we will do today • Introduce the course and ourselves • Go over the syllabus • Have an abbreviated discussion of chapters 1 and 2. • Get started with Chapter 3 A325 - Reed Smith

  3. Syllabus A325 - Reed Smith

  4. Syllabus - materials Cost Management: A strategic emphasis Blocher, Chen, Cokins, and Lin (6ed) A325 - Reed Smith

  5. Syllabus - the way things work • Regular updates/modifications to they syllabus will be on ONCOURSE • YOU ARE RESPONSIBLE FOR THESE A325 - Reed Smith

  6. Syllabus A325 - Reed Smith

  7. Cost Accounting • Financial accounting deals with the reports: Balance sheet, income statement, and statement of cash flows. Cost accounting provides the “numbers” for these reports. • More important… cost accounting provides management with information for decision making and strategy. • We will look at the COST of manufacturing in different types of environments. A325 - Reed Smith

  8. Cost Accounting • How much does it cost to manufacture our product or provide our service? • Are we competitive? • Are we doing the right things? • Planning – budgeting is a financial roadmap • Decision making and profit planning • Evaluation of our performance relative to the budget A325 - Reed Smith

  9. Cost accounting • Cost behaviors • Direct costs vs indirect costs A325 - Reed Smith

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