COST ACCOUNTING-I

Course Description

The aims of this course are mainly to prepare students with a good understanding on the empirical foundation of cost accounting. In addition, this course prepares students with an overview of the principle of cost accounting and its application. By the completion of the course the students should be able to evaluate production decisions in light of costs and benefits and prepare budgetary cost with respect to management control. Also, the following topics will be covered; the Manager and Management Accounting, an Introduction to Cost Term and Purposes, Cost Volume Profit Analysis, Job Costing, Activity Based Costing and Activity Based Management, Master Budget and Responsibility Accounting and Flexible Budgets, Direct-cost Variances and Management Control.

COST ACCOUNTING-I

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 The students should be able to evalute production decesionsin light of costs and benefits
2. L02 The students should be able to prepare budgetary cost with respect to management control.
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 differential analysis to pricing and production decisions. SOLO 4
6. L06 using cost-volume-profit(CVP) analysis to analyze decision and incorporate taxes, multiple products, and alternative cost structure into CVP analysis SOLO 4
7. L07 Evaluating the advantages and disadvantages of alternative cost estimation methods SOLO 5
8. L08 Discuss how cost allocation is used in a cost management system and how a basic product costing system works SOLO 5
9. L09 Describe the three basic types of product costing systems: job order, Process, and operations. SOLO 3

Program Outcomes

1. P01 1. Gained the necessary skills to learn and adopt a spirit of continuous learning in their professional life.
2. P02 2. Developed various skills by working independently via specific learned techniques that both triggered individual efforts and encouraged collaborative work.
3. P03 3. Acquired the essential knowledge and skills to apply key theories, models and applications within the global business context.
4. P04 4. Adopted and applied critical and strategic thinking together with research capabilities for efficient and effective business decisions.
5. P05 5. Utilized and managed ethically information technologies required for contemporary business world.
6. P06 6. Been equipped with conceptual and analytical skills necessary for team work within global organizations.
7. P07 7. Displayed their learnt communication skills that are required to effectively interact in a cross cultural and diverse international work environment.
8. P08 8. Applied their acquired knowledge within the changing work environment.
9. P09 9. Developed an understanding of ethical perspectives and social responsibilities to be used at work and in personal life.

Po-Lo Matrix