COST ACCOUNTING

Course Description

The aim of the course is to provide students with knowledge of cost and cost-related concepts, and teach them how to use these concepts in evaluating the cost of a product; in the process of planning and control; and decision-making. This course examines in depth cost analysis and product costing for both the profit and not-for-profit sectors of the economy. Accounting for labor, materials, and manufacturing overhead emphasizes the use of source documents to analyze and record cost data in both manual and computerized accounting systems. Methods of allocating indirect costs to products are introduced. Budgeting concepts are reviewed with emphasis on capital budget techniques. Reporting for segments and decentralized operations are also covered.

COST ACCOUNTING

Evaluation Tools (Active Term)

Course outcomes

1. 01 The students should be able to evalute production decesionsin light of costs and benefits
2. 02 The students should be able to prepare budgetary cost with respect to management control.

Course Syllabus

Reference Books & Course Materials

1. 01 Lanen, Anderson and Maher, 2014, Fundamental of Cost Accounting. Mc Graw-Hill.

Learning Outcomes

1. L01 Describe the way managers use accounting information to create value in organizations, SOLO 3
2. L02 Explain how cost accounting information is used for decision-making and performance evaluation in organizations, SOLO 3
3. L03 Explain the basic concept of cost and how costs are presented in financial statements, SOLO 3
4. L04 Analyzing the distinction between financial and contribution margin income statements, SOLO 4
5. L05 Applying the differential analysis to pricing and production decisions SOLO 4
6. L06 using cost-volume-profit(CVP) analysis to analyze decisions and incorporate taxes, multiple products, and alternative cost structures into CVP analysis, SOLO 4
7. L07 Evaluating the advantages and disadvantages of alternative cost estimation methods, SOLO 5

Program Outcomes

1. P01 1- To have advanced theoretical and practical knowledge supported by textbooks, application tools and other resources including current information in the field of Accounting and Finance.
2. P02 2- To be able to use advanced theoretical and practical knowledge acquired in the field of Accounting and Finance.
3. P03 3- To be able to interpret and evaluate data, identify problems, analyze and develop solutions based on research and evidence by using advanced knowledge and skills acquired in the field of Accounting and Finance.
4. P04 4- To be able to take responsibility as an individual and a team member in order to solve complex and unpredictable problems in accounting and finance applications.
5. P05 5- To be able to plan and manage activities for the development of employees under the responsibility of a project.
6. P06 6- To be able to determine the learning requirements in the field of Accounting and Finance and to direct their learning.
7. P07 7- To be able to inform people and institutions about issues related to the field of accounting and finance, and to be able to transfer their ideas and solution proposals in writing and orally.
8. P08 8- To be able to use information and communication technologies together with computer software at the European Computer Driving License Advanced Level required by the field of Accounting and Finance.
9. P09 9- To act in accordance with social, scientific, cultural and ethical values in the stages of collecting, interpreting, applying and announcing the results related to the field of accounting and finance.

Po-Lo Matrix