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Cost Accounting
Summer 2016
Class Room: UB 20102
Class Schedule: Monday & Wednesday, 3:30 PM – 4:50 PM
I. Rationale:
The objective of cost accounting is to have an idea about the costing of different cost objects and
associated profitability. It also includes the different elements of costs and necessary control,
and in the process determines the selling price to ensure desired profit. Yet with the
development of business and industry, its objectives are changing day by day.
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IV. My Stance
Lectures will be followed by problem solving sessions. Active participation and questions are
highly encouraged. Students are expected not to miss classes as the topics are inter-related.
V. Course Requirements:
1. Class attendance and participation policy: Students who are unable to attend at least 70% of
the number classes are not allowed to sit for the final exam as per university rules.
2. Course readings:
Core Reading:
Cost accounting- A managerial emphasis — Charles T. Horngren (14th edition)
Recommended Reading:
Cost Accounting Foundations and Evolutions, 8e, Kinney & Raiborn
Principles of Cost Accounting 15e, Vanderbeck
You are encouraged to study together and to discuss information and concepts covered in lecture
and the sections with other students. You can give "consulting" help to or receive "consulting"
help from such students. However, this permissible cooperation should never involve one
student having possession of a copy of all or part of work done by someone else, in the form of
an e-mail, an e-mail attachment file, a diskette, or a hard copy.
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If copying occurs, both the student who copied work from another student and the student who
gave material to be copied will both automatically receive a zero for the assignment. Penalty for
violation of this Code can also be extended to include failure of the course and University
disciplinary action.
During examinations, you must do your own work. Talking or discussion is not permitted during
the examinations, nor may you compare papers, copy from others, or collaborate in any way.
Any collaborative behavior during the examinations will result in failure of the exam, and may
lead to failure of the course and University disciplinary action.
6 Quiz 1
6&7 Costing and control of factory overhead
Factory overhead costs, estimated factory overhead costs,
determination of factory overhead application rates, actual vs.
applied factory overhead costs, accounting for actual factory
overhead costs and allocation of costs.
8&9 Activity Based Costing
Types of costs system, how costs are treated under activity-based
costing, steps for implementing activity-based costing, a comparison
of traditional and ABC system, the limitation of activity-based
costing, activity based management.
12 Midterm Examination
13 – 15 Process costing
Job order costing vs. process costing, the cost of production report,
spoilage, rework and scrap.
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decision making.
18 Quiz 3
18 – Standard costing and variance analysis
20 Purposes of standard costing, types of cost standards, variance
analysis: material, labor, overhead- variable and fixed, volume
variance etc.
23 Quiz 4