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    Cost Course Outlime

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    Cost management

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    Download as docx, pdf, or txt
    26 views3 pages

    Cost Course Outlime

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    Cost management

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    © All Rights Reserved
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    of 3

    Haramaya University

    College of Business and Economics


    Department of Accounting and Finance
    Department Accounting & Finance
    Program BA degree in Accounting & Finance
    Module Cost & managerial Accounting
    Number/Title
    Module Code ACFN-3030
    Objective of the This module will cover cost accumulation concepts and techniques for Product and Service
    module Costing and Planning and Control, as well as Non-routine Managerial Decisions. Modern
    management accountants are not only concerned with how cost data are transformed into
    cost accounting information but more importantly how to use cost accounting information
    to aid managerial goals. It is the case, however, that one cannot effectively use cost
    information without a good understanding of how various cost accounting information are
    generated.
    The module should develop the student's understanding, skill, and analytical ability in cost
    and management accounting to the level where he or she can function effectively (and
    efficiently) as a professional cost and management accountant in industry, public
    accounting, management consulting, government, or personal business management.

    Course code AcFn3031


    Course Title Cost & management Accounting I
    ETCTS Credits 5
    Contact Hours 3
    (per week)
    Lecturer Getahun D. (Msc)
    Course Objectives Upon the successful completion of this module, students should be able to:
    & Competences to  Use various classifications to analyze costs within the organization.
    be Acquired  Describe and apply the principles relating to the costing of the different
    resource inputs into a business.
     Demonstrate output costing methods appropriate to a variety of different
    businesses.
     Illustrate and evaluate absorption, marginal costing, activity-based costing
    methods and other management cost accounting methods and techniques.
     Apply and analyze different types of activity-based management tools through the
    preparation of estimates.
     Describe, illustrate and comment on the planning and control uses of
    standard costing, budgeting and variance analysis

    Course Cost accounting course concerns with fundamental cost concepts, behavior, and analysis
    Description and the use of cost information to develop superior decision making process and outputs.
    This course introduces the production, communication, and the use of accounting
    information within the context of business activities.
    .
    WEEKS Course Contents

    1. Overview of Cost and Management Accounting


    2WEEKS 1,1 Objectives of Cost & Management Accounting
    {1ST&2ND } 1.2 Cost and management accounting in comparison with
    financial accounting: their purposes, the role of cost
    accounting as part of a management information system,
    and the need for both financial as well as non-financial
    information
    1.3 Cost classification concepts and terms, such as:
     Direct and indirect costs,
     Fixed and variable costs,
     Period and product costs,
     Controllable and uncontrollable costs,
     Avoidable and unavoidable costs,
     “Sunk” costs,
     Budgeted, standard and actual costs and their
    comparisons and analyses
    1.4 The use of linear, curvilinear and step functions and how
    their calculations are used to analyze cost behavior
    1.5 The concepts of cost units, cost centers and profit centers

    2:.Cost determination: The costing of resource inputs

    3 WEEKS 2.1 Materials


     Accounting for stock (inventory)movements
    {3RD- 5TH }  Determination of optimum purchase quantities
     Identification of accounting for stock losses
    2.2 Labor
     The difference between direct and indirect labor
     Types of labor remuneration methods
    2.3 Overheads
     Overhead cost analyses
     The apportionment and absorption of overhead costs,
    including allocation of service department costs.
     Accounting for the over- and under absorption of costs
     IAS 2 inventories on Overhead allocations
    2.4 Recording of costs and schedule of costs of products.

    2. Costing methods: The costing of resource outputs


    3.1 Job order, batch and contract costing methods
    5 WEEKS  Characteristics of each method
     Accounting for direct and indirect costs, including
    {6TH - 10 TH } the treatment of waste, scrap, spoilage and re work
    costs,
    3. The Process and Operation or service costing methods:
     Characteristics of the process costing method,
     Identification and use of appropriate cost units,
     Valuation of process transfers and workin-process
    using equivalent units of production and based on
    FIFO and average costing methods,
     Accounting for normal and abnormal losses and
    gains, joint and by-products
     Scope of operation or service costing,
     Identification of appropriate cost units,
     Considerations relating to the collection,
    classification and ascertainment of costs
    4. Cost Allocation
    5.1 Explain the notions of ‘overhead costs’, ‘indirect
    costs’, ‘direct costs’, ‘traceable costs’ and
    ‘allocated costs’.
    2 WEEK 5.2 Explain how accountants choose to create ‘cost
    centres or ‘cost pools’ in which to gather together
    {11TH & 12tTH} cost data.
    5.3 Explain why and how costs may be allocated from
    one cost pool or centre to another.
    5.4 Support department cost allocation
    5.5 Joint and By-products
    5.6 Common cost allocation
    5. Activity-Based Costing and Management
    2 WEEKS 6.1 Activity-based costing; use of cost drivers and
    {12TH & 14TH } activities
    6.2 Activity Based Costing for Customer Profitability
    6.3 Activity Based Management

    Assessment/ The evaluation scheme will be as follows:


    Evaluation Component Weight coverage
    Test 1 15% Chapter 1 &5
    Test 2 15% Chapter 3 & 4
    Assignment 1 5% Chapter 1 &2
    Assignment 2 5% Chapter 3-6
    Quiz 1 5%
    Quiz 2 5%
    Final Exam 50% All chapters
    Work load in hours

    Hours Required
    Total
    Assess Tutor Self- Assign Advi Hrs ECTS
    Lectures Lab ments ials Studies ment sing
    64 - 22 12 64 - - 162 6
    Text Book:
    Text and reference  Horngren, Foster, &Datar. Cost Accounting: A
    books Managerial Emphasis. 9th Ed. 1997
     Horngren, Sunden& Stratton. Introduction to
    Management Accounting. 11th Ed. 1999
    Reference Books
     C.T Homgren, Introduction to Management Accounting
    4th to 8 th editions, 1999 USA
     C.T. Homgren, Cost Accounting: A Managerial Emphasis
    5th to 8th ecitionsprentice Hall Inc. 1982 to 1994
     Homgren, foster, &Datar, Cost Accounting A Managerial
    Emphasis. 10 thEcition
    L.E. Heitger Managerial Accounting 1th and 2 nd editions,
    McGraw Hill , 1998, India
     GetuJemaneh, Management Accounting 1996.
     Ray H.Garrison, Managerial Accounting. 6th edition

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