Cost Accounting in the CPA Examination--Updated.

Abstract Cost accounting topics continue to be a significant portion of the accounting practice and accounting theory parts of the Uniform Certified Public Accountant examination. This paper summarizes the cost accounting problems and questions in ten examinations during 1971 to 1975. Two earlier studies summarized the periods 1956 to 1965 and 1966 to 1970, they are referred to where interesting comparisons occur. Cost accounting is defined broadly, including cost determination, control and the use of accounting information for decision making purposes, however, questions dealing purely with inventory valuation, average and lower-of-cost-or-market, have been excluded. More specifically, the included topics are, basic knowledge of cost accounts and overhead costing, process cost accumulation procedures, by-products and joint products costing, budgeting for planning and control, standard costing, direct costing, inventory control, including economic order quantity and reorder point problems and models, breakeven, cost volume profit, differential cost analysis, linear programming and matrix algebra methods, other quantitative areas, for example, the calculus, learning curve, queueing theory, probability theory, statistical analysis and capital expenditure planning, evaluating and control.