Prerequisite: ACCT 321. A study of advanced cost ccounting that emphasizes the managerial aspects of internal systems of recordkeeping, performance management, and control. Various techniques are used to study cost and managerial accounting practices and problems; these may include the use of problem sets, case studies, computer applications, and other materials.

Students may receive credit for only one of the following courses: ACCT 426 or BMGT 426.

After completing this course, students should be able to:

• self-assess your knowledge base of basic cost accounting concepts and applications by using the outline in module 1 for a review of these topics
• describe cost-leadership and product-differentiation strategies in a strategic cost management framework
• employ customer-profitability and sales-variance analyses for strategic cost management
• describe the use of quality and time for competitive advantage, including the use of just-in-time (JIT) methods for inventory management
• demonstrate proficiency with market-based and cost-based transfer-pricing methods
• evaluate performance though the development and use of a balanced scorecard

This course explores advanced cost accounting concepts and applications. The primary goal of this course is the demonstration of technical proficiency with the content of the five modules listed below. This knowledge base will enable you to function as a business advisor. Another goal of this course is the integration of technology, business ethics, social responsibilities, and international perspectives with advanced cost accounting concepts and applications.

This course consists of the following five modules and topics:

• Cost Accounting Review and Self-Assessment Outlines
• Strategy, Balanced Scorecard, and Strategic Profitability Analysis
• Cost Allocation, Activity-Based Costing, Customer-Profitability Analysis, and Accounting Research
• Quality, Time, and Efficiency Metrics and Inventory Management
• Management Control Systems, Transfer Pricing, and Performance Measurement

Homework Assignments = 30%
Research Paper = 24%
Examination I = 10%
Examination II = 10%
Final Examination = 26%
Total Percentage = 100%

A = 90-100%
B = 80-89%
C = 70-79%
D = 60-69%
F(a) below 60%

This is in line with UMUC's grading standard. A curve may be applied.

The research paper and homework assignments will be discussed in detail during class.
All assigned chapters should be read prior to the pertaining lecture.
Homework is to be turned in during the class session following the assignment (i.e., Session One’s homework is due during Session Two). Expect to spend 1 hour of homework for every hour in class in addition to chapter readings (Note: Chapters 1-12 are a review of ACCT321). Late homework will be given a 10% penalty reduction. No homework will be accepted after the Final Exam.

The research paper is a report on a current or emerging practice in cost management. The approach can be field-based, a compilation of readings, or a case analysis. You are required to submit a proposed topic with a preliminary annotated bibliography for approval and feedback on the resources and cost management topic by Meeting 9. The paper in its final form is to be a report of 7-10 pages in length. The paper should use 8-10 references, at least six of which should be taken from the UMUC library database; one reference should be your textbook. The paper should be double-spaced, typed, in APA format, and should include a Bibliography and Cover Page in addition to the written material.

Meeting 1: Introductions; Chapters 1-3; Homework: 1-1, 1-7, 1-8, 1-9, 1-15, 2-8, 2-9, 2-13, 2-22, 3-1, 3-6, 3-8, 3-14, 3-24

Meeting 2: Chapters 4-6; Homework: 4-1, 4-3, 4-4, 4-13, 5-2, 5-5, 5-11, 5-22, Case Study p. 179, 6-1, 6-2, 6-7, 6-8, 6-14

Meeting 3: Chapters 7-9; Homework: 7-2, 7-4, 7-6, 7-7, 7-22, 8-2, 8-7, 8-10, 8-15, 8-21, 9-1, 9-4, 9-7, 9-8, 9-12, 9-14

Meeting 4: Chapters 10-12; Homework: 10-1, 10-3, 10-4, 10-8, 10-10, 10-22, 11-1, 11-2, 11-4, 11-18, 12-1, 12-3, 12-6, 12-10

Meeting 5: Exam I on Chapters 1-12 [Multiple Choice, Short Answer]; Chapter 13; Homework: Define Chapter terms listed p. 482, 13-2, 13-4, 13-6, 13-7, 13-9, 13-10, 13-13, 13-14, 13-26, 13-39, Case Study p. 490

Meeting 6: Chapter 14; Homework: Define Chapter terms listed p. 519, 14-1, 14-2, 14-6, 14-7, 14-9, 14-12, 14-15, 14-17, 14-18, 14-32, 14-34

Meeting 7: Chapter 15; Homework: Define Chapter terms listed p. 554, 15-1, 15-3, 15-4, 15-5, 15-7, 15-8, 15-11, 15-12, 15-13, 15-16, 15-23, Case Study p. 564

Meeting 8: Chapter 16; Homework: Define Chapter terms listed p. 583, 16-1, 16-2, 16-3, 16-4, 16-6, 16-9, 16-10, 16-15, 16-18, 16-28, 16-30, 16-34

Meeting 9: Preliminary due; Chapter 17; Homework: Define Chapter terms listed p. 623, 17-1, 17-2, 17-3, 17-4, 17-5, 17-6, 17-7, 17-10, 17-11, 17-15, 17-18, 17-44, Case Study p. 631

Meeting 10: Exam II on Chapters 13-17 [Multiple Choice, Short Answer]; Chapter 18; Homework: Define Chapter terms listed p. 651, 18-3, 18-4, 18-5, 18-14, 18-16, 18-17, 18-18, 18-19, 18-37, Case Study p. 658

Meeting 11: Chapter 19; Homework: Define Chapter terms listed p. 680, 19-1, 19-2, 19-3, 19-4, 19-5, 19-7, 19-8, 19-9, 19-11, 19-13, 19-14, 19-15, 19-22, Case Study p. 690 (HW can be turned in on Meeting 13 with no penalty)

Meeting 12: Chapter 20; Homework: Define Chapter terms listed p. 716, 20-1, 20-2, 20-3, 20-4, 20-5, 20-6, 20-9, 20-11, 20-12, 20-13, 20-14, 20-22, 20-37

Meeting 13: Chapter 21; Homework: Define Chapter terms listed p. 748, 21-1, 21-2, 21-3, 21-5, 21-6, 21-7, 21-11, 21-12, 21-13, 21-15, 21-17, 21-19, 21-24

Meeting 14: Chapter 22; Homework: Define Chapter terms listed p. 781, 22-1, 22-2, 22-3, 22-4, 22-6, 22-7, 22-8, 22-10, 22-11, 22-15, 22-18, 22-19, 22-36

Meeting 15: Research Paper due; Chapter 23; Review; Homework: Define Chapter

terms listed p. 815, 23-1, 23-2, 23-5, 23-6, 23-7, 23-9, 23-10, 23-15, 23-36

Meeting 16: Final Exam on Chapters 13-23 [Matching (chapter terms), Multiple Choice, Short Answer; 3 out of 5 Essays to choose from]