BA 262 - Cost Accounting

Description
This course covers cost systems and cost accumulation methods including job order and process cost principles and practices. Planning and control of materials, labor, and factory overhead and standard cost system with variance analysis are also covered.

Credit Hours: 3
Contact Hours: 3
Prerequisites/Other Requirements: BA 257 (D- or Higher)
English Prerequisite(s): None
Math Prerequisite(s): None
Course Corequisite(s): None
Academic Program Prerequisite: None
Consent to Enroll in Course: No Department Consent Required
Dual Enrollment Allowed?: Yes
Number of Times Course can be taken for credit: 1
Programs Where This Course is a Requirement:
Accounting, A.B., Pre-Accounting, A.B. (3+1, Davenport University)

General Education Requirement:
None
General Education Learner Outcomes (GELO):
NA
Course Learning Outcomes:
1. Understand cost concepts and general ledger cost flows and apply Job Order Costing principles.

2. Describe the planning and control of materials in a Job Order System and account for scrap, rework, and spoiled goods.

3. Record and understand the effects of transactions for labor, including taxes, overtime and fringe benefits.

4. Understand cost behavior, cost drivers and cost estimation.

5. Estimate and apply overhead, disposing of the difference between actual and applied overhead.

6. Prepare FIFO and weighted average cost of production reports and variance reports for labor, material mix, and overhead.

7. Account for added material and units in a process system.

8. Account for lost units (normal and abnormal) in a process system.

9. Allocate costs for joint and by-products.

10. Develop standard costs for material, labor and overhead.

11. Record actual results in a standard cost system, including variances and prepare statements based on absorption and variable costings techniques. Understand their use in management decision making.

12. Understand CVP relationships by preparing break even calculations.

13. Complete work accurately with attention to detail, be able to work well in team and with others, and be able to develop a plan to problem solve known issues
Course Outline:
I. Cost Management & Strategy

II.Implementing Strategy: The Value Chain, the Balanced Scorecard, & the Strategy Map

III. Activity-Based Costing & Customer Profitability Analysis

IV. Cost Estimation

V. Strategy and the Master Budget

VI. Decision Making with a Strategic Emphasis Strategy & the Analysis of Capital Investments

VII.Cost Planning for the Product Life Cycle: Target Costing, Theory of Constraints, and Strategic Pricing

VIII. Operational Performance Measurement; Sales, Direct-Cost Variances & the Role of Nonfinancial Performance Measures

IX.  Operational Performance Measurement; Indirect-Cost Variances & Resource-Capacity Management

X. Strategic Performance Measurement: Cost Centers, Profit Centers, and the Balanced Scorecard

XI. Management Compensation, Business Analysis, and Business Valuation

Approved for Online and Hybrid Delivery?:
Yes
Instructional Strategies:
Lecture: 30-60%

Facilitated Discussion: 20-60%

Group Work: 0-20%

Mediated Instruction: 0-20%
Mandatory Course Components:
Graded homework and examinations.
Equivalent Courses:
None

Accepted GRCC Advanced Placement (AP) Exam Credit: None
AP Min. Score: NA
Name of Industry Recognize Credentials: None

Course prepares students to seek the following external certification:
No
Course-Specific Placement Test: None
Course Aligned with ARW/IRW Pairing: NA

Mandatory Department Assessment Measures:

Course Type:
Program Requirement- Offering designed to meet the learning needs of students in a specific GRCC program.
Course Format:
Lecture - 1:1
Total Lecture Hours Per Week: 3
People Soft Course ID Number: 100041
Course CIP Code: 52.9999
Maximum Course Enrollment: 24
General Room Request: None

High School Articulation Agreements exist?: No
If yes, with which high schools?: NA
Non-Credit GRCC Articulation Agreement With What Area: No
Identify the Non Credit Programs this Course is Accepted: NA

School: School of Business & Industry
Department: Business
Discipline: BA
Faculty Credential Requirements:
Other (list below), 18 graduate credit hours in discipline being taught (HLC Requirement), Master’s Degree (GRCC general requirement), Professionally qualified through work experience in field (Perkins Act or Other) (list below)
Faculty Credential Requirement Details:
Master’s Degree in Business, MBA, or related field, preferred.

Professional certification(s) related to Accounting field (CPA) may be accepted in leiu of the Master’s Degree.

Minimum of 2 years of related work experience (4,000 hours) is required (Perkins Act).

Major Course Revisions: N/A
Last Revision Date Effective: 20220214T20:42:20
Course Review & Revision Year: 2026-2027