VOCATIONAL SCHOOL
Department of Logistics
VSC 206 | Course Introduction and Application Information
Course Name |
Cost Accounting
|
Code
|
Semester
|
Theory
(hour/week) |
Application/Lab
(hour/week) |
Local Credits
|
ECTS
|
VSC 206
|
Spring
|
3
|
0
|
3
|
3
|
Prerequisites |
None
|
|||||
Course Language |
English
|
|||||
Course Type |
Required
|
|||||
Course Level |
Short Cycle
|
|||||
Mode of Delivery | - | |||||
Teaching Methods and Techniques of the Course | - | |||||
Course Coordinator | - | |||||
Course Lecturer(s) | ||||||
Assistant(s) | - |
Course Objectives | This course 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, 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 |
3
|
50
|
Weighting of End-of-Semester Activities on the Final Grade |
1
|
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 |
10
|
3
|
30
|
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 |
91
|
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