VOCATIONAL SCHOOL
Department of Logistics
VSC 205 | Course Introduction and Application Information
| Course Name |
Cost Accounting
|
|
Code
|
Semester
|
Theory
(hour/week) |
Application/Lab
(hour/week) |
Local Credits
|
ECTS
|
|
VSC 205
|
Fall
|
3
|
0
|
3
|
2
|
| Prerequisites |
None
|
|||||
| Course Language |
English
|
|||||
| Course Type |
Required
|
|||||
| Course Level |
Short Cycle
|
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| Mode of Delivery | - | |||||
| Teaching Methods and Techniques of the Course | - | |||||
| Course Coordinator | - | |||||
| Course Lecturer(s) | - | |||||
| Assistant(s) | - | |||||
| Course Objectives | This Unit introduces candidates to costing techniques that are likely to be utilised within cost accounting. The objective of the unit is to enable candidates to maintain a working accounting system for classifying and recording cost accounting information for purposes such as stock valuations and profit measurement. |
| Learning Outcomes |
The students who succeeded in this course;
|
| Course Description | It is primarily intended for candidates who expect to take up a career in management or cost accounting. It would also be relevant to those with appropriate work experience who wish either to formalise their qualifications or progress in their accounting career. |
|
|
Core Courses | |
| Major Area Courses | ||
| Supportive Courses | ||
| Media and Management Skills Courses | ||
| Transferable Skill Courses |
WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES
| Week | Subjects | Related Preparation |
| 1 | Principles of sequential numbering and coding sequences | SQA materials |
| 2 | Classify costs by nature and develop an appropriate comprehensive coding system that can be expanded. The system developed should identify direct and indirect costs. | SQA materials |
| 3 | Devise a cost coding system appropriate for a given organisation | SQA materials |
| 4 | Prepare a cost analysis from examples of invoices or cost schedules using the cost coding sequence devised. | SQA materials |
| 5 | Complete documents involved in ordering, acquiring, and recording materials stock. | SQA materials |
| 6 | Record and price receipts and issues of materials using LIFO, FIFO and Weighted Average methods. | SQA materials |
| 7 | Place a value on closing stock of material; calculate the profit effect of the 3 methods noted above. | SQA materials |
| 8 | Calculate accepted stock control indicators such as minimum and maximum stock levels; reorder levels and economic order quantities. | SQA materials |
| 9 | Purpose and importance of accurate stock control. | SQA materials |
| 10 | List the procedures for recording labour costs, including documentation required. | SQA materials |
| 11 | Calculate wages in differing situations within the workplace, for example piece rate, time rate, high day rate, and differential piecework schemes. | SQA materials |
| 12 | Identify idle time and record it within a cost accounting system. | SQA materials |
| 13 | Incentive schemes e.g. premium bonus schemes, commission and group bonus schemes. | SQA materials |
| 14 | Calculate the effect on profits of adopting differing incentive schemes. | SQA materials |
| 15 | Review of the Semester | |
| 16 | Review of the Semester |
| Course Notes/Textbooks | SQA materials |
| Suggested Readings/Materials |
EVALUATION SYSTEM
| Semester Activities | Number | Weigthing |
| Participation |
1
|
10
|
| Laboratory / Application | ||
| Field Work | ||
| Quizzes / Studio Critiques | ||
| Portfolio | ||
| Homework / Assignments | ||
| Presentation / Jury | ||
| Project | ||
| Seminar / Workshop | ||
| Oral Exams | ||
| Midterm |
2
|
40
|
| Final Exam |
1
|
50
|
| Total |
| Weighting of Semester Activities on the Final Grade |
50
|
|
| Weighting of End-of-Semester Activities on the Final Grade |
50
|
|
| Total |
ECTS / WORKLOAD TABLE
| Semester Activities | Number | Duration (Hours) | Workload |
|---|---|---|---|
| Theoretical Course Hours (Including exam week: 16 x total hours) |
16
|
3
|
48
|
| Laboratory / Application Hours (Including exam week: '.16.' x total hours) |
16
|
0
|
|
| Study Hours Out of Class |
0
|
||
| Field Work |
0
|
||
| Quizzes / Studio Critiques |
0
|
||
| Portfolio |
0
|
||
| Homework / Assignments |
0
|
||
| Presentation / Jury |
0
|
||
| Project |
0
|
||
| Seminar / Workshop |
0
|
||
| Oral Exam |
0
|
||
| Midterms |
2
|
4
|
8
|
| Final Exam |
1
|
5
|
5
|
| Total |
61
|
COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP
|
#
|
Program Competencies/Outcomes |
* Contribution Level
|
||||
|
1
|
2
|
3
|
4
|
5
|
||
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest