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Outcomes-based Course Syllabus

GENERAL INFORMATION

College College of Business and Entrepreneurial Technology

Program Bachelor of Science in Accountancy Pre-requisite AC3&4

Course Title Cost Accounting and Control Co-requisite None

Course Code AC9 Instructor/


Macrina Violeta V. Vicente-Mutuc
Course Credit 3.0 Professor
Contact Hours 3 hour lecture Department Accountancy
Term/Sem/AY First Semester Date Created July 2019
COURSE DESCRIPTION
This course is designed to orient the students to the cost accounting framework of business. It introduces the concepts of cost accounting as differentiated
from financial accounting. Cost control concepts, methods and techniques are interspersed in the discussion of the accounting process for service, merchandising
and manufacturing entities. Topics include cost accounting cycles; costing accumulation methods; and cost systems; planning, accounting and control for the
elements of cost.
COURSE OUTCOMES
1. Distinguish costs accounting from management accounting and financial accounting
2. Distinguish costs as assets from costs as expenses using the financial accounting conceptual framework, accounting principles, underlying assumptions,
and applicable financial reporting standards and Philippine law.
3. Classify costs as to object, purpose, and behavior emphasizing when each classification is used in cost control.
4. Account for cost transactions on the books of accounts for service, merchandising and manufacturing entities.
5. Differentiate business documents supporting cost transactions following the flow of cost information.
6. Relate the importance of cost classifications to the preparation of financial statements more specifically the results of operation of businesses.
7. Explain the contents of the financial statements and the purpose of these contents to assist in decision making for stakeholders.
LEARNING PLAN
Topic/ Assessment Tasks and
Week Learning Outcomes Teaching and Learning Activities
Content Tools
 LO1:  Vision, Mission, Institutional  Present University video clippings  Pen and Paper test reviewing
Explain the Mission, Vision, Outcomes and Course of the  Presentation of University VMGO orientation details
objectives of the College; Study
LO2: Develop a clear  Classroom Dynamics and Course  Review of the concepts and terminologies learned from AC3&4,  Pen and Paper test reviewing
1 understanding of the course and Requirements and Grading AC5 and AC6 concepts and terminologies and
contents, to effect meaningful Orientation  Levelling off of expectations through sharing activities orientation details
learning and collaborative
experiences in the classroom.

 LO3: Differentiate the  Cost Accounting: Definition,  Small Group Discussion: Give graphic symbolisms of the  Reflection sharing
significance and purpose of cost Characteristics, Objectives, and different concepts to be defined through the use of concept  Pen and paper test reviewing
accounting from management parameters mapping definitions, characteristics, and
2 accounting and financial  Section Discussion: Discuss to the whole class the group outputs other topics discussed.
accounting.  Assigning individual investigation on Cost Classification

 LO4: Classify and Identify cost  Cost Classifications Related to  Assigning individual investigation on differentiating levels of  Reflection sharing
inputs for service, Cost Object, Cost Behavior, conversion of raw materials to finished products related to type  Presentation of findings
merchandising and Financial Statement Presentation of business  Pen and paper test
3 manufacturing entities. and Product  Socratic approach to differentiating different ways of relating
costs to object, behavior, financial statement presentation and
product
 LO5: Differentiating the levels  Raw Materials Inventory for  Assigning individual investigation on classifying, preparing and  Reflection sharing
of conversion of raw materials Services, Merchandising, and presenting cost accounting reports  Presentation of findings
into finished product Manufacturing Entities  Small group discussion: presentation of findings of individual  Pen and paper test
4 investigations
 Socratic approach to differentiating levels of conversion of raw
materials into finished products

 LO6: Classify, Prepare and  Job Order Cost Sheet, Cost of  Assigning individual investigation on accounting and preparing  Reflection sharing
Present Cost Accounting Production Report, Activity reports on raw materials inventory  Presentation of
Reports using cost concepts Based Cost Report and Financial  Socratic approach to classifying, preparing and presenting cost generalizations/conclusions
5 relating to financial accounting Statements accounting reports  Pen and paper test
principles and framework.

6 PRELIMINARY EXAMINATION
 LO7: Account for and prepare  Direct materials Planning,  Assigning group investigation and document collection for  Reflection sharing
reports on Raw Materials Procurement, Control, related business documents for raw materials  Presentation of findings
Inventory transactions: Accounting and Reporting  Presentation, Discussion and Critiquing: group presentation of  Pen and paper test
7 planning, procuring, controlling solutions to selected problems representing the concepts of the
and issuing to production. topic with class participation

 LO8: Relate business  Business documents in planning,  Assigning group investigation and document collection for  Reflection sharing
documents for raw materials procuring, controlling, related business documents for labor  Presentation of findings
inventory transactions to accounting and reporting of  Socratic approach to analyzing parts of the documents  Pen and paper test
8 accounting entries and Direct Materials. containing cost accounting information
inventory reports.

 LO9: Account for direct and  Introduction to Payroll: Direct  Presentation, Discussion and Critiquing: group presentation of  Reflection sharing
indirect labor, differentiating Labor and Indirect Labor, Selling solutions to selected problems representing the concepts of the  Presentation of
supporting documents for and Distribution, and General and topic with class participation generalizations/conclusions
9 payroll for production and Administrative Salaries and  Socratic approach to analyzing payroll process  Pen and paper test
payroll for operations. Wages

 LO10: Prepare reports on labor  Payroll: Planning, Hiring,  Assigning group investigation and document collection for  Reflection sharing
transactions applying both Controlling, Accounting and related business documents for overhead  Presentation of findings
financial accounting standards Reporting  Socratic approach to analyzing payroll laws and statutory  Pen and paper test
10 and applicable Philippine Labor deductions
Code Sections.

 LO11: Distinguish incurrence of  Factory Overhead: Indirect  Assigning individual investigation on accounting and computing  Reflection sharing
overhead from prime costs, Materials, Indirect Labor, and for common service overhead allocation  Presentation of
account for these and prepare Other Factory Expenses  Presentation, Discussion and Critiquing: group presentation of generalizations/conclusions
11 reports on overhead solutions to selected problems representing the concepts of the  Pen and paper test
transactions. topic with class participation
 Socratic approach to analyzing overhead and its components

 LO12: Compute for allocation of  Departmentalization: Allocating  Presentation, Discussion and Critiquing: group presentation of  Reflection sharing
service overhead costs using the common overhead costs using solutions to selected problems representing the concepts of the  Presentation of findings
three methods available for direct, step and simultaneous topic with class participation  Pen and paper test
12 departmentalization. methods  Socratic approach to analyzing the 3 methods of allocating
overhead

 LO13: Determining cost pools,  Activity-Based Costing: Cost  Assigning individual investigation on accounting and computing  Reflection sharing
cost drivers, cost objects Objects, Cost Drivers, Cost Pools for activity based costing  Presentation of
13 identifying the level of costs: generalizations/conclusions
 Pen and paper test
unit, batch, department,  Presentation, Discussion and Critiquing: group presentation of
product levels. solutions to selected problems representing the concepts of the
topic with class participation
 Socratic approach to analyzing cost pools, drivers and objects

 LO14: Account and prepare  Activity-Based Costing:  Socratic approach to analyzing parts of the documents  Reflection sharing
reports under an activity-based Accounting and Reporting containing cost accounting information  Presentation of findings
costing system process.  Presentation, Discussion and Critiquing: group presentation of  Pen and paper test
14 solutions to selected problems representing the concepts of the
topic with class participation

 LO15: Compute for product  Product Cost Reports: Job Order,  Socratic approach to analyzing parts of the documents  Reflection sharing
costs reflected in schedules Process Costing, Activity Based containing cost accounting information  Presentation of
15 supporting presentation on the Costing, Joint-Costs, Variance  Group discussion on the comparison of each report related to generalizations/conclusions
face of the financial statements. Analysis the financial statement disclosures  Pen and paper test

 LO16: Account and prepare  Job Order Entries and Related  Assigning individual investigation on accounting and computing  Reflection sharing
financial reports under the job Job Order Cost Sheet for losses, defects and rework  Presentation of findings
order costing system through  Presentation, Discussion and Critiquing: group presentation of  Pen and paper test
16 the job order procedures and solutions to selected problems representing the concepts of the
use of job order business topic with class participation
documents  Socratic approach to analyzing job order costing system

 LO17: Recognize and account  Job Order Entries for Losses,  Presentation, Discussion and Critiquing: group presentation of  Reflection sharing
for Losses, Defects, and Rework Defects, and Rework. solutions to selected problems representing the concepts of the  Presentation of findings
17 for the manufacturing process topic with class participation  Pen and paper test
under Job Order System.  Socratic approach to analyzing losses, defects, and rework

 LO18: Compare presentation of  Job Order Cost Report vs.  Presentation, Discussion and Critiquing: group presentation of  Reflection sharing
reports under Job Order Costing Process Cost of Production solutions to selected problems representing the concepts of the  Presentation of
18 System, Process Costing Report vs. Activity Based Cost topic with class participation generalizations/conclusions
System, and Activity Based Report  Group discussion on the comparison of each report related to  Pen and paper test
Costing System. the financial statement disclosures

COURSE REQUIREMENTS/OUTPUT
1. Major Examination
2. Assessments: Quizzes, Reflections, etc.
3. Seatwork
4. Project/Group Work (light immersive project)
5. Presentation, Discussion and Critiquing (PDC)
6. Accomplishment Portfolio
GRADING SYSTEM (may apply institutional/college grading system)
35% Major Examination
20 Assessments: Quizzes, Reflections, etc.
15 Seatwork
15 Project/Group Work
10 Participation, Attendance, and Conduct/Behaviour
5 Accomplishment Portfolio
100% Total
REFERENCES

1. Guerrero, P. 2018. GIC Enterprises & Co., Inc. Manila City


2. Hansen, D. and Mowen, M. 2018. Cost Management: Accounting and Control. Thomson Southwestern, U.S.A
3. Raiborn, C. and Kinney, M. 2017. Cost Accounting. @2015 Cengage Learning Asia Pte. Ltd. (Philippines Branch) Pasig City
4. Philippine Accounting Standards
5. Philippine Financial Reporting Standards
6. International Accounting Standards
7. International Financial Reporting Standards
8. Philippine Civil Law: Obligations and Contracts
9. The Institute of Cost Accountants of India. 2018. Cost Accounting Intermediate Study Notes. Jayant Printery LLP, Mumbai

Other Readings: Latest articles and researches on cost accounting and control

COURSE COMMITTEE
Prepared:

MACRINA VIOLETA VICENTE-MUTUC, CPA, MAIT


Faculty,
Checked: Recommending Approval: Approved:

COLLEGE CURRICULUM REVISION COMMITTEE ROWELL C. MARASIGAN, CPA, MBA KRISTINE Y. OPULENCIA
Chair, CCRC Head, Accountancy Department Dean, College of Business and Entrepreneurial Technology