COST ACCOUNTING I (2/2 Credits)

Learning Outcomes:

On successful completion of this Course, students will be able to: Describe Cost Management System and cost assignment process; Explain cost behavior and activity-based cost system; Prepare job order cost sheet and cost of production report; Calculate departmental overhead rates and budgeting; Calculate  the materials, labor, Factory Overhead variances and performance evaluation; Analyze cost information for reporting

Topics:

1. Introduction to Cost  Management;
2. Basic Cost Management  Concepts;
3. Cost Behavior;
4. Activity-Based Costing;
5. Product and Service Costing: Job-Order System;
6. Process Costing;
7. Allocating Costs of Support Departments and Joint Products;
8. Budgeting for Planning and Control;
9. Standard Costing: A Functional-Based Control Approach;
10. Decentralization: Responsibility Accounting, Performance Evaluation, and Transfer Pricing