COST ACCOUNTING (4 Credits)

Learning Outcomes:

On successful completion of this Course, students will be able to: Identify The Role Manager and Management Accounting; Identify The Cost Term and Costing Method; Calculate Cost Accumulation; Prepare Planning and Control of Cost; Prepare Cost Report; Appraise Standard Costing and Flexible Budget.

Topics:

1. The Manager and Management Accounting
2. An Introduction to Cost Terms and Purposes
3. Job Costing
4. Process Costing – Weighted-Average Method
5. Process Costing – FIFO Method
6. Spoilage, Rework, and Scrap
7. Cost Allocation: Joint Products and By Products
8. Inventory Management, Just-in-Time, and Simplified Costing Methods
9. Allocation of Support-Department Costs, Common Costs, and Revenues
10. Determining How Costs Behave
11. Material Flow of Cost Accounting
12. Standard Costing
13. Flexible Budget
14. Job Costing
15. Process Costing – Weighted-Average Method
16. Process Costing – FIFO Method
17. Allocation of Support-Department Costs, Common Costs, and Revenues
18. Standard Costing
19. Flexible Budget