ACC 205 - Cost Accounting

1. Demonstrate an understanding of the similarities and differences between financial and managerial accounting.
2. Prepare job cost schedules and statements for a manufacturing firm.
3. Distinguish and analyze job order and process cost systems, variable, fixed and mixed costs.
4. Create an income statement using the contribution margin format.
5. Demonstrate techniques used in break even analysis.
6. Compute variances for materials, labor and overhead.
7. Create a flexible budget and performance report.
8. Determine relevant costs and analyze management decisions.
9. Demonstrate an understanding of current trends in managerial accounting.