Course Description:

Cost accounting provides key data to managers for planning and controlling, as well as data on costing products, services, and customers. By focusing on basic concepts, analyses, uses, and procedures instead of procedures alone, we recognize cost accounting as a managerial tool.

Topics and Lessons for Business Communication:

1. Lesson 1 Basic Concept
2. Lesson 2 Materials Costing
3. Lesson 3 Labor Cost & Machinery
4. Lesson 4 Job Costing/Process Costing
5. Lesson 5 Cost Allocation
6. Lesson 6 Variable Costing
7. Lesson 7 Cost of Quality Spoilage
8. Lesson 8 Joint Production Process
9. Final Exam

Objective:

The aim of the course is to equip students with skills and knowledge to:

• Identify and calculate different types of costs (direct, indirect, variable, and fixed costs).
• Distinguish between job-costing, process-costing, and joint-costing systems.
• Determine the product cost by means of full- costing and direct-costing methods.
• Determine the product cost by means of historical (actual) and standard cost system.