Cost Accounting

School of Business & Economics

Program Synergy

Credit Hours 3

Duration 6 Weeks (SUMMER ONLINE)

Prerequisites Fundamentals of Accounting(AC-125)

Resource Person Syed Wasif Hussain

Capsule Statement

Cost Accounting is the “Process of identifying, measuring, accumulating, analyzing, preparing, interpreting and communicating information to help the managers to fulfil organizational objectives”. This course is designed to enable students to learn the management accounting techniques to achieve a level of proficiency sufficient to guide management for effective utilization of economic resources. This course capitalizes the accounting techniques and a method covered in the previous courses and develops a conceptual foundation for establishing a result – oriented mechanism of administrative controls. It also discusses the role of management in the financial reporting process, the impact of the accounting information system on management’s strategic decisions and explores the tools and concepts of cost management systems. The practices of accounting information systems are analyzed to determine their management implications.

Learning Objectives

 To Develop and utilize accounting information for strategic decision-making.

 To Learn about the decision making process in the field of accounting and finance.

 To Determine patterns of cost behaviour including variable, fixed and semi – variable costs.

 To Learn about product costing methods like job order costing and process costing.

 To Analyze the effects of absorption costing and variable costing on various business decisions.

Learning Methodology

The Course

Book Readings

You are supposed to read the text chapters under discussion, and you may be graded from any part of the assigned chapters. Questions answered, relating to these text chapters, will contribute to the class participation marks.

Consultancy Service

During this program, consider me as your consultant. You are free to discuss the progress of courses any time you want. However to avoid inconvenience, setting up of appointment is recommended.

In case of cheating:

In real world outside the classroom, students not often work completely on their own. They typically work in teams and help each other extensively. I have no objection to you getting help from me, or other students. I encourage you to do so. But plagiarism is strictly prohibited.

Remember that if you cheat, you will lose your 10 marks out of your aggregate sessional evaluation in addition to the cancellation of that relevant quiz / assignment / project whatever it will be. There is no second chance. The first time you are caught cheating, you will be penalized.

Hope you will have great time learning Cost Accounting.

Assessments

All of the activities held during the session will be evaluated; the final grades for the course will be as follows:

Assignments 40%

Cases 20%

Final exam 40%

Total 100%

There will be activities/assignments uploaded on the course moodle each week and students are expected to regularly check the course website on moodle and adhere to all deadlines

RECOMMENDED TEXT BOOK

Managerial Accounting By Ronald W. Hilton, (Ninth Edition)