COURSE DESCRIPTION
This course will introduce the student to the fundamental concepts of cost accounting. Course topics include the manager and management accounting, cost terms and purposes, job costing, activity-based costing, activity-based management, flexible budgets, inventory costing and capacity analysis, pricing decisions and cost management, cost allocation, customer-profitability analysis, and sales-variance analysis.
COURSE OBJECTIVES
The objectives of this course is for the student to gain a fundamental understanding of the concepts of cost accounting by learning and applying the basic principles to a variety of different business situations and environments.
COURSE LEARNING OUTCOMES (CLOs)
On completion of this subject, students are expected to be able to:
- Perform a cost-volume-profit analysis
- Understand and be able to apply the concepts of Activity-Based Costing and Activity-Based Management
- Have a thorough knowledge of flexible budgets, direct-cost variances, overhead cost variances, and management control
- Develop a strategy and a balanced scorecard and perform a Strategic Profitability Analysis
COURSE OUTLINE
- The Manager and Management Accounting
- An Introduction to Cost Terms and Purposes
- Cost – Volume-Profit Analysis
- Job Costing
- Activity-Based Costing and Activity-Based Management
- Master Budget and Responsibility Accounting
- Flexible Budgets, Direct-Cost Variances, and Management Control
- Flexible Budgets, Overhead Cost Variances, and Management Control
- Inventory Costing and Capacity Analysis
- Determining How Costs Behave
11.Decision Making and Relevant Information
- Strategy, Balanced Scorecard, and Strategic Profitability Analysis
- Pricing Decisions and Cost Management
- Cost Allocation, Customer-Profitability Analysis, and Sales-Variance Analysis
Course Textbook
Horngren’s Cost Accounting: A Managerial Emphasis, 16th Edition
Srikant M. Datar, Harvard University
Madhav V. Rajan, Stanford University
Link: https://www.pearson.com/us/higher-education/program/Datar-Horngren-s-Cost-Accounting-Plus-My-Lab-Accounting-with-Pearson-e-Text-Access-Card-Package-16th-Edition/PGM2247441.html
Feedback Given to Participants in Response to Assessed Work
- Individual written feedback on coursework
- Feedback discussed as part of a tutorial
- Individual feedback on request
- Model answers
Developmental Feedback Generated Through Teaching Activities
- Feedback is given at presentations and during tutorial sessions
- Dialogue between participants and staff in tutorials and lectures
GRADING AND SCORING
The course grade will be based on a final project presented by the participant and graded by the instructor. Participants much achieve a passing grade of 70% or more to be awarded a certificate of completion of the course.
