1. A325 Cost Accounting
August 19, 2012
A325 - Reed Smith

2. What we will do today Introduce the course and ourselves
Go over the syllabus
Have an abbreviated discussion of chapters 1 and 2.
Get started with Chapter 3
A325 - Reed Smith

3. Syllabus
A325 - Reed Smith

4. Syllabus - materials Cost Management: A strategic emphasis
Blocher, Chen, Cokins, and Lin (6ed)
A325 - Reed Smith

5. Syllabus - the way things work
Regular updates/modifications to they syllabus will be on ONCOURSE
YOU ARE RESPONSIBLE FOR THESE
A325 - Reed Smith

6. Syllabus
A325 - Reed Smith

7. Cost Accounting
Financial accounting deals with the reports: Balance sheet, income statement, and statement of cash flows. Cost accounting provides the “numbers” for these reports.
More important… cost accounting provides management with information for decision making and strategy.
We will look at the COST of manufacturing in different types of environments.
A325 - Reed Smith

8. Cost Accounting
How much does it cost to manufacture our product or provide our service?
Are we competitive?
Are we doing the right things?
Planning – budgeting is a financial roadmap
Decision making and profit planning
Evaluation of our performance relative to the budget
A325 - Reed Smith

9. Cost accounting Cost behaviors Direct costs vs indirect costs
A325 - Reed Smith