Learning Outcomes

On successful completion of this course, students will be able to:

Describe the three fundamental purposes of cost and management accounting.  As part of this learning, students will be able to appreciate the use of different costs for different purposes. Explain traditional and contemporary approaches to cost allocation. Describe different product costing scenarios in job-order and process environments. Identify relevant information for decision making purposes in order to produce financial analyses for a range of decisions such as product-mix, pricing, outsourcing and special orders. Use standard costs to prepare budgets for planning and control purposes.