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Part I – Job Overview. Chapters 1 and 2 describe the nature of cost accounting and the details of the cost accountant job description.
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Part II – Inventory Valuation. Chapters 3 through 8 describe the various methods used to value inventory, including job costing, process costing, standard costing, joint and by-
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Part III – Product Pricing. Chapters 9 through 11 describe the contribution of cost accounting to product pricing, including a lengthy discussion of how much a product costs for pricing purposes, how target costing works, and the mechanics of transfer pricing.
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Part IV – Cost Analysis Methods. Chapters 12 through 15 address a number of analysis methods, including direct costing, activity-
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Part V -
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Understand the situations in which we use cost accounting
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Determine how to calculate the proper cost of inventory
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Understand how and when to compile costs using different costing methodologies
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Understand the various methods for allocating costs
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Understand the uses of various cost analysis tools
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Understand the variability of costs under different circumstances
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Understand how to use cost accounting in the development of new products
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Understand how transfer pricing works, and the impact of using different transfer pricing methods
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Understand how to create a cost accumulation system
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