Cost terminology and classification, cost behavior and estimation methods and cost allocation procedures; job, process, just-in-time and activitybased costing systems; flexible budgets, cost standards and direct cost, overhead and revenue variance analysis; transfer pricing methods and effects; role of the controller in a business organization. Additional laboratory hour required. Prerequisite: BUS 202. 3 credits. NLA. S

This course serves as an introduction to the fundamentals of cost accounting, with emphasis on costing systems in the service, merchandising, and manufacturing sectors. The use of budgets and standards are studied as keys to planning and control, including flexible budgets and variance analysis. The use of cost information for various decision and control purposes is also studied.