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The first of two managerial accounting courses taken after a foundation in fundamental financial accounting principles and concepts, this course emphasizes the role of the management accountant, cost concepts & terminology, cost-volume-profit analysis, job costing, activity-based accounting, budgeting and control, standard costs, variance analysis and income effects of alternative inventory costing methods, cost allocation, joint and by-product costs, and process costing. This course qualifies as a prerequisite for entrance into the Chartered Professional Accountant (CPA) Professional Education Program (PEP) when completed in conjunction with FMGT 7210 Advanced Management Accounting.
ACCG 5110 Financial Accounting or FMGT 1100/1105 Introductory Accounting I (with a final grade of 60% or greater) and FMGT 2100/2105 Introductory Accounting 2 (with a final grade of 60% or greater).
This course fulfills the CPA prerequisite for Introductory and Intermediate Cost Accounting when paired with FMGT 7210. This course CANNOT be transferred into the Accounting nor Finance Diploma. Class WILL NOT be held on November 11th (Remembrance Day)
This course offering is in progress. Please check back next term or subscribe to receive email updates.
Upon successful completion of this course the student will be able to:
Identify the roles of the management accountant in the organization’s planning and control functions.
Prepare financial statements for a manufacturing organization.
Differentiate between a variety of terms used in cost and managerial accounting.
Distinguish between job-order, process costing and activity-based costing systems with regard to the methods of accumulating costs.
Develop predetermined manufacturing overhead rates for application to jobs and implement alternative methods of dealing with under or over-applied overhead.
Analyze the effects of changes in prices, volumes, and cost structures on organizational profitability and tconduct a sensitivity analysis of these relationships.
Prepare all the budgets and supporting schedules required in the preparation of a master budget including performance reports incorporating flexible budgets.
Apply the concepts of responsibility accounting to management evaluation and control.
Develop standard costs for direct materials, direct labour, variable, and fixed overhead, compute the appropriate variances and evaluate and the decision of whether or not to investigate a variance.
Evaluate the effects of alternative denominator activity levels in absorption costing.
Describe and implement alternative methods of disposing of variances at year end.
Develop cost functions using quantitative analysis techniques including high-low, regression and account analysis.
Assess “make or buy” decisions after determining the relevant costs.
Evaluate short term and long term pricing decisions using the cost plus approach and the market based approach as well as incorporating opportunity costs for one-time special orders.
Determine the costs of service departments to be added to production departments using the direct, step-down and reciprocal methods.
Effective as of Spring/Summer 2015
ACCG 6210 is offered as a part of the following programs:
Books for Fall 2020 offerings of this course are available in the following BCIT
online bookstores. Please choose the bookstore appropriate for the offering
you are considering.
BCIT Burnaby Bookstore
If you are taking this course, but are not taking it through either Distance
Education or Online Learning, nor at the BCIT Downtown Campus (DTC), please purchase books for this course at the BCIT Burnaby Bookstore.
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Cei Digital: Mylab Accounting W Etext For Horngren's Cost Accounting, 8Th Cdn Ed
Cost Accounting W Etext & Myacctglab, 8Th Cdn Ed
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