Cost accounting in California community colleges is considered in this study in terms of the mission of the colleges, the impact of the open enrollment policy, the economic benefits attributable to the colleges, and comparisons made with other segments of public higher education. The study revealed that statewide community college operating expenses were distributed as follows: 53% for instructional programs, 12% for general instructional services, 9% for student services, and 14% for instructional support and library and community services. One visible effect of the open access policy was that in 1977 88% of the freshmen and sophomores enrolled in a higher education institution and 10% of all Californians were enrolled in a community college. One direct benefit attributable to the colleges was that the mean income of a male with one to three years of college was $2,118 greater than that of a high school graduate. No absolute increase in per-student support from the State General Fund for the community colleges was found from 1973, when cost per weekly student contact hour was $59.52 to 1978. Major areas of vocational education activity in the community colleges were trade and industry, office, health, technical, and distributive programs. The mean for all vocational education expenditures per program was $1,028 per average daily attendance. Of the state's 1976-77 vocational education graduates 54% were from community colleges, and of these 92.4% were employed. (Author/AYC)