This is the first course in the Cost/Managerial sequence. It provides an introduction and detailed discussion of Cost Accounting topics such as: Cost terminology, normal costing, job order costing, cost assignment systems, maser budgets and flexible budgets for planning and performance evaluation.
Intended Learning Outcomes
CILO-1: Distinguish financial accounting, management accounting, and cost accounting.
CILO-2: Define the different costs terms and apply cost-volume-profit analysis.
CILO-3: Identify and apply the building-block concepts of job costing, activity-based costing and activity-based management.
CILO-4: Provide a framework for judging performance by using master budget and flexible budgets.
CILO-5: Differentiate between variable costing and absorption costing, and identify cost drivers for decision-making process.
CILO-6: Apply accounting for manufacturing business based on International Financial Reporting Standards (IFRS).
CILO-7: Identify the application of the cost accounting knowledge to critically analyze real business problems in an international context.