Mar 21, 2023  
2020-2021 Undergraduate Catalog 
2020-2021 Undergraduate Catalog [ARCHIVED CATALOG]

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ACCT 405 - Advanced Cost Accounting

This course reviews, enhances, and extends concepts learned in ACCT 305. The focus is on assessing the information needs of end users in the organization, then creating reports (including Excel workbooks) to address those needs. ACCT 405 and ACCT 505 are layered courses; students may not receive credit for both.

Prerequisites: a grade of C or higher in ACCT 305 and admission to the accounting major AND completion of the College of Business Foundation courses (ACCT 251 and ACCT 252 and BUS 221 and BUS 241 and MATH 153 or MATH 154 or MATH 170 or MATH 172 or MATH 173 and ECON 201) with a minimum C- grade in each course and a minimum collegiate GPA of 2.25.

Credits: (5)

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

  • Reinforce and enhance knowledge of traditional first course (ACCT 305) topics.
    • Management accountant’s role
    • Different costs for different purposes
    • Cost-volume-profit analysis
    • Job (order)costing
    • Activity-based costing andmanagement
    • Master budget
    • Responsibility accounting
    • Flexible budgets and direct cost variances
    • Flexible budgets and overhead cost variances
    • Inventory costing and capacity analysis
    • Determining how costs behave
    • Decision making and relevant information
    • Process costing
  • Extend knowledge and demonstrate intermediate-level competence with second course (ACCT 405) concepts.
    • Pricing decisions and cost management
    • Balanced scorecard and strategic profitability analysis
    • Customer profitability and sales variance analysis
    • Allocation of support department costs
    • Cost allocation related to joint products and by-products
    • Accounting for spoilage, rework and scrap
    • Balanced scorecard related to quality and theory of constraints
    • Inventory management and JIT planning and control
    • Cost of capital and capital budgeting
    • Transfer pricing
    • Performance measurement
  • Practice basic/intermediate Excel spreadsheet management accounting applications related to:
    • Master budgeting
    • Cash budgeting
    • Cost of capital estimation
    • Capital budgeting
    • Process costing cost of production reports
    • Variance analysis

Learner Outcomes Approval Date:

Anticipated Course Offering Terms and Locations:

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