Project Accounting describes the role of the accountant in designing a cost collection system for a project, charging expenses to it, and measuring the amount of revenue to be recognized. Project Cost Management includes processes in planning, estimating, budgeting, financing, funding, managing, and controlling costs so that the project can be completed within the approved budget. The course also addresses the management of change orders, allowances, and contingencies, while noting the impact of GAAP and IFRS requirements on specific project issues, including interest capitalization, the treatment of research and development costs, and the controls and measurements used for projects.