1.0 COURSE SYNOPSIS
This course introduces the students to the basic concepts of management accounting and cost accounting. Students will be exposed to the ways of determining product costs, cost-volume-profit
analysis, marginal and absorption costing, job order costing and process costing, standard costing, variance analysis and budgeting.
2.0 COURSE OBJECTIVES
The objective of this course is to enable the student to apply the cost and management accounting information in planning, controlling and decision making process.
3.0 LEARNING OUTCOMES
Upon successful completion of the course students will be able to:
CO1- explains the differences between cost and management accounting and
financial accounting and describes its role in the management process.
CO2- distinguishes among product cost and period cost.
CO3- applies cost volume profit analysis in a single product setting.
CO4- explains the cost behavior and applies the method of high-low and least
square to separate the mixed cost.
CO5- describes and prepares the concepts, terminologies and methods in
product costing (JOC, PC, SC, VC and AC).
CO6- prepares a master budget and identifies its major components.