COST & MANAGEMENT ACCOUNTING

Course Description

Objectives of this course are mainly to prepare students with a good understanding on the empirical foundation of cost accounting and decision-making skills for managers by concentrating on the concepts and practices of managerial accounting. This course focuses on corporate decision-making skills for managers by concentrating on the concepts and practices of managerial accounting. The emphasis is on building a general framework for choosing among alternative cost systems for operational control and product cost and profitability measurement. The course covers recent conceptual and analytical developments in the area of management accounting, including study of modern and relevant planning, control techniques and their underlying concepts as applied to various functional areas within the firm, and performance evaluation.

COST & MANAGEMENT ACCOUNTING

Evaluation Tools (Active Term)

No evaluation items have been defined.

Course outcomes

1. 01 understand financial accounting
2. 02 understand cost concepts
3. 03 learn the techniques for cost management
4. 04 understand and use accounting information for planning, control and decision-making
5. 05 understand strategic cost management

Course Syllabus

Reference Books & Course Materials

1. 01 Management and Cost Accounting, Colin Drury, Cengage Learning, 2012, ISBN: 978-1-4080-4180-2
2. 02 Accounting: The Basis for business decisions, Meigs&Williams&Haka&Bettner, McGrawHill, 1996
3. 03 Cost Accounting, Horngren&Foster&Datar, Prentice Hall, 8th Edition, 1994

Learning Outcomes

1. L01 understand financial accounting
2. L02 understand cost concepts
3. L03 learn the techniques for cost management
4. L04 understand and use accounting information for planning, control and decision-making
5. L05 understand strategic cost management

Program Outcomes

1. P01 Knowledge of mathematics, natural sciences, basic engineering, computer-based computation, and topics specific to the relevant engineering discipline.
2. P02 Ability to apply knowledge of mathematics, natural sciences, basic engineering, computer-based computation, and topics specific to the relevant engineering discipline to the solution of complex engineering problems.
3. P03 Ability to define complex engineering problems by using knowledge of basic sciences, mathematics, and engineering, while considering the relevant United Nations Sustainable Development Goals (SDGs) related to the problem addressed.
4. P04 Ability to formulate complex engineering problems using knowledge of basic sciences, mathematics, and engineering, while considering the relevant United Nations Sustainable Development Goals (SDGs) associated with the problem addressed.
5. P05 Ability to analyse and solve complex engineering problems using knowledge of basic sciences, mathematics, and engineering, while considering the relevant United Nations Sustainable Development Goals (SDGs) associated with the problem addressed.
6. P06 Ability to design creative solutions to complex engineering problems.
7. P07 Ability to design complex systems, processes, devices, or products in a way that meets present and future needs while considering realistic constraints and conditions.
8. P08 Ability to select and use appropriate techniques and resources—including estimation and modelling—for the analysis and solution of complex engineering problems, while being aware of their limitations.
9. P09 Ability to select and use modern engineering and computational tools—including estimation and modelling—for the analysis and solution of complex engineering problems, while being aware of their limitations.
10. P10 Ability to conduct literature research and use appropriate research methods for the investigation of complex engineering problems.
11. P11 Ability to design experiments for the investigation of complex engineering problems.
12. P12 Ability to conduct experiments, collect data, analyse results, and interpret findings for the investigation of complex engineering problems.
13. P13 Knowledge of the impacts of engineering practices on society, health and safety, the economy, sustainability, and the environment within the framework of the United Nations Sustainable Development Goals (SDGs).
14. P14 Awareness of the legal implications of engineering solutions within the framework of the United Nations Sustainable Development Goals (SDGs).
15. P15 Knowledge of ethical responsibility and adherence to the principles of professional engineering conduct.
16. P16 Awareness of acting impartially without discrimination in any matter and of being inclusive of diversity.
17. P17 Ability to work effectively as an individual.
18. P18 Ability to work effectively as a team member or leader in intra-disciplinary teams (face-to-face, remote, or hybrid).
19. P19 Ability to work effectively as a team member or leader in multidisciplinary teams (face-to-face, remote, or hybrid).
20. P20 Ability to communicate effectively in spoken form on technical matters, taking into account the diverse characteristics of the target audience (such as education, language, and profession).
21. P21 Ability to communicate effectively in written form on technical matters, taking into account the diverse characteristics of the target audience (such as education, language, and profession).
22. P22 Knowledge of professional practices such as project management and economic feasibility analysis.
23. P23 Awareness of entrepreneurship and innovation.
24. P24 Ability for independent and lifelong learning.
25. P25 Ability to adapt to new and emerging technologies.
26. P26 Lifelong learning ability that includes the capacity to think critically about technological changes.

Po-Lo Matrix