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İzmir Ekonomi Üniversitesi

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    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 -
    National Occupation Classification -
    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;

    • Will be able to identify and calculate the types of costs such as direct, indirect, total, variable and fixed costs
    • Will be able to determine the costs of producing a product or providing a service using job costing and process costing
    • Will be able to allocate support departments costs to operating departments
    • Will be able to apply methods to allocate costs to WIP and joint products
    • Will be able to record transactions in a cost accounting system and prepare cost of production reports
    • Will be able to perform cost-volume-profit analysis
    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.
    Related Sustainable Development Goals

     



    Course Category

    		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

     

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