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This course is the first of a three-course package in cost accounting. Cost accounting differs from financial accounting in that the former concentrates on the estimation, accumulation and presentation of internal accounting information for performance evaluation and decision making purposes. As such, cost accounting is often referred to as management accounting.

This first course concentrates on defining cost or management accounting concepts and issues; the process of input cost data accumulation and allocation to output measures, such as units of product; the estimation of how costs vary with output measures; and finally, the use of cost information for internal management decision making.