a) Classifies and compares various types of costs and describes their behaviour within the context of their respective classifications (e.g., fixed/ variable, direct/indirect, and discretionary)
b) Distinguishes and calculates the various types of operational costs and program costs (e.g., cost of goods sold, cost of capacity, and other costs related to ongoing expenses, overhead allocation)
c) Distinguishes the various types of costs when researching and analyzing particular problems and issues
d) Classifies and communicates cost information according to standard conventions and uses judgment to determine which costs are relevant to the decision at hand
e) analyzes cost data using established and cutting-edge costing systems and methods (e.g., standard costing, activity-based costing, process costing, joint cost allocation, departmental costing, and job costing)
f) Identifies the need for innovative costing techniques: Just in time, LEAN, etc.
g) Describes costing systems for for-profit, not-for-profit, and public sector entities, and explains how such systems are typically applied