Cost Accounting I – ACCT 311
CG • Section 8WK • 11/08/2019 to 04/16/2020 • Modified 07/28/2020
A study of the principles and procedures used in the collection, recording and reporting of costs. Balance Sheet inventory valuation and the related Income Statement cost of goods sold valuation, determined using both job order costing and process costing, are emphasized. Activity-based costing is covered in depth. Traditional cost accounting is the main content of this course.
Practicing accountants, both in public and private accounting, are expected to understand and apply the principles and procedures relating to cost collection, recording, and reporting, which are the subject matter of this course.
Measurable Learning Outcomes
Upon successful completion of this course, the student will be able to:
- Apply the accounting principles and procedures used to accumulate and report the costs of manufacturing products for income determination in accordance with generally accepted accounting principles (GAAP) as used in the United States and for the internal use of management in decision making.
- Evaluate the appropriateness of a company’s cost accounting system in meeting the company’s needs for reporting and decision making.
- Evaluate the appropriateness of a company’s cost accounting system in generating numbers that are in agreement with the ethical standards of those who possess a Christian worldview.
Textbook readings and lecture presentations/notes
Course Requirements Checklist
After reading the Course Syllabus and Student Expectations, the student will complete the related checklist found in Module/Week 1.
Group Discussion Board Forums (4)
Discussion boards are collaborative learning experiences. There will be 4 Group Discussion Board Forums throughout the course. The purpose of Discussion Board Forums is to generate interaction among students in regard to relevant, current course topics. For this collaborative discussion board, the student is required to post 1 thread of at least 500 words. The student must post 1 reply of at least 250 words. For each thread, the student must support his/her assertions with at least 2 citations other than the textbook, and the Bible may be 1 of those sources. Everything must be in current APA format. Outside research for the replies is encouraged but not required. All resource references must include an in-text citation to give credit to the source of the information.
Connect Plus Homework (8)
In each module/week, the student will be assigned homework to complete in Connect Plus. At the end of the assigned modules/weeks, Connect Plus will automatically grade all of the assignments, and the instructor will then download the results and place the scores within Grade Center. As a reminder, all homework is conducted in Connect Plus, not in the textbook (though the homework is based on the material in the text).
The student will need to link to link to his or her Connect account through Blackboard. To link to Connect through Blackboard, the student must follow the directions found under “Important: Register for Connect” as an assignment in Module/Week 1 under Course Content. Doing this will provide the student with access to the e-book, homework, and exams necessary for this course.
Individual Research Paper
The student will write an 8–10-page research paper on a topic that is relative to cost accounting theories. The paper must follow current APA format and utilize at least 5 scholarly resources.
Connect Plus Exams (4)
The student will be expected to complete exams within Connect Plus. Each exam will be open-book/open-notes, contain 30 questions, and have a 2-hour and 30-minute time limit.