Students will demonstrate an understanding and be able to explain the following:

1 - The basic concepts of cost accumulation and product costing systems.

2 - The use of cost accumulation and product costing systems for planning, control and decision-making purposes.

3 - The use of cost accumulation and product costing systems for external reporting purposes.

4 - Recent trends in the practice of management accounting, such as activity-based costing (students will be encouraged to critically evaluate these trends).