At the end of this course, the students; 1) Identify different classifications of cost terms and purposes and explain ethical standards for management accountants. 2) Analyze changes in operating income to evaluate strategy in terms of growth, price-recovery, and productivity components. 3) Apply the methodology of customer profitability analysis and be able to calculate the sales volume variance, the sales mix variance, the sales quantity variance, the market share variance and the market size variance. 4) Understand criteria to guide cost-allocation and be able to allocate support department cost using the direct method, the step-down method, and the reciprocal method. 5) Allocate joint costs using four methods and explain why joint costs are irrelevant in a sell-or-process further decision. 6) Explain the four cost categories in a costs-of-quality program and use three methods to identify quality problems.
MODE OF DELIVERY
Face to face
PRE-REQUISITES OF THE COURSE
Yes(BUS222)
RECOMMENDED OPTIONAL PROGRAMME COMPONENT
No
COURSE DEFINITION
This course is organized to introduce basic cost accounting concepts and techniques with an emphasis on providing information for management decision-making. Topics include comparison of cost and expense concepts, flow of costs, classifications of costs, accumulation of direct materials cost, direct labor cost, manufacturing overhead cost, assignment of manufacturing overhead costs to cost centers, assignment of the costs of supporting service functions, analysis of the process cost system, job order cost system and standard cost system. In addition, this course aims to relate the Uniform Chart of Accounts with respect to cost accounting purposes.
COURSE CONTENTS
WEEK
TOPICS
1st Week
Introduction to cost terms and purposes
2nd Week
Cost-volume-profit analysis
3rd Week
Job costing
4th Week
Activity-based costing
5th Week
Behaviour of costs
6th Week
Pricing decisions
7th Week
Cost allocation methods
8th Week
Midterm
9th Week
Process costing
10th Week
Process costing
11th Week
Inventory management
12th Week
Capital budgeting
13th Week
Capital budgeting
14th Week
Review
RECOMENDED OR REQUIRED READING
Datar, S. And Rajan, M. , Horngren's Cost Accounting, Pearson, 17th edition, 2020.
PLANNED LEARNING ACTIVITIES AND TEACHING METHODS
Questions/Answers,Discussion,Lecture
ASSESSMENT METHODS AND CRITERIA
Quantity
Percentage(%)
Mid-term
1
30
Assignment
2
20
Total(%)
50
Contribution of In-term Studies to Overall Grade(%)
50
Contribution of Final Examination to Overall Grade(%)
50
Total(%)
100
ECTS WORKLOAD
Activities
Number
Hours
Workload
Midterm exam
1
1,5
1,5
Preparation for Quiz
1
14
14
Individual or group work
1
40
40
Preparation for Final exam
1
24
24
Course hours
14
3
42
Preparation for Midterm exam
1
18
18
Laboratory (including preparation)
1
0
0
Final exam
1
1,5
1,5
Homework
Total Workload
141
Total Workload / 30
4,7
ECTS Credits of the Course
5
LANGUAGE OF INSTRUCTION
English
WORK PLACEMENT(S)
No
KEY LEARNING OUTCOMES (KLO) / MATRIX OF LEARNING OUTCOMES (LO)
