This course is designed to introduce students to the main concepts of cost The course covers cost concepts flows and terminology alternative cost objectives cost measurement concepts cost accumulation systems including job order costing process costing and activity-based costing overhead cost allocation supply chain management and business process performance topics such as lean manufacturing ERP theory of constraints value chain analysis ABM continuous improvement and efficient accounting processes Factors to be analyzed for control and performance evaluation including revenues costs profits and investment in assets variance analysis based on flexible budgets and standard costs responsibility accounting for revenue cost contribution and profit centers key performance indicators and balanced scorecard