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Ethiopia Adventist College

This document outlines the course details for Cost and Management Accounting I. The course introduces students to cost accounting concepts, theories, techniques and applications. It aims to explain how cost accounting supports managerial decision making. Major topics covered include job-order costing, process costing, spoilage, rework, joint and by-products, cost allocation and standard costing. Students will be assessed through continuous assessments worth 60% and a final exam worth 40% of their overall grade. Attendance is mandatory and late assignments or missed exams are not accepted.

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Samuel Debebe
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321 views3 pages

Ethiopia Adventist College

This document outlines the course details for Cost and Management Accounting I. The course introduces students to cost accounting concepts, theories, techniques and applications. It aims to explain how cost accounting supports managerial decision making. Major topics covered include job-order costing, process costing, spoilage, rework, joint and by-products, cost allocation and standard costing. Students will be assessed through continuous assessments worth 60% and a final exam worth 40% of their overall grade. Attendance is mandatory and late assignments or missed exams are not accepted.

Uploaded by

Samuel Debebe
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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1

Ethiopia Adventist College


College of business
1. Cost and Management Accounting

Cost and Management Accounting I

A. Course Description:
The course deals with the concepts and techniques of cost accounting. Topics included
are: fundamentals of cost & management accounting; terminologies, classifications, and
behavior of costs; job-order and activity-based costing; absorption and variable costing;
cost allocation, joint products, and by-products; spoilage, reworked units, and scraps; and
process & standard costing.

B. Course Objectives
The basic objective of offering this course is to introduce to the students the underlying
cost accounting concepts, theories, techniques, procedures, and applications along with
the roles cost accounting plays in the institutional accounting information system and its
significance in supplementing managerial decision making.

C. Prerequisites: principles of Accounting II


D. Required Texts:
 Text book: A Managerial Emphasis- Horn green, Foster, and Datar, 9th, 10th, 11th
12th editions.
E. Expectations:
 Students always ready to give feedback concerning the course
 Students expected to do assignments and class activities on time.
 Students expected to be active participant in different activities for example, group work
 Students develop their knowledge concerning the course

F. Summary of Teaching Learning Methods:


 Lecture, group work, assignment, tutorial & individual work
G. Policies:
2

 Attendance: - is mandatory, if students miss class more than 25% during the
semester they should not take the exam.
 Quizzes: - at the end of the chapter or the topic there is test or quizzes to assess
whether the student understand the topic or not.
 Cheating: - students must do their own work, if they are going to cheat from
somebody else they will get zero.
 Grading system: - grading system is flexible or depends on the student’s
performance
 Homework will not be accepted after the due date. 
 The examinations must be taken as scheduled on this syllabus and as announced in
class.

Week Topic & sub topics

introduction about the course


Chapter 1:- COST AND MANAGEMENT ACCOUNTING FUNDAMENTALS
 Nature and purpose of cost accounting
 Relationship of cost accounting with financial and managerial
accounting
 Nature and scope of management accounting

Chapter 2:- COST TERMINOLOGY AND CLASSIFICATION


 Cost object and cost driver

 Cost accumulation, assignment-tracing and allocation

 Classification of cost

Chapter 3:- JOB ORDER COSTING

 Product costing

 Journal entries

 Under/over applied factory overheads

Chapter 4:- PROCESS COSTING

 Process costing concepts

 Weighted average and FIFO methods

 Transferred in cost
3

Chapter 5:- SPOILAGE, REWORKED UNITS AND SCRAP

 Spoilage, rework and scrap

 Process costing and spoilage

 Job order costing and spoilage

 Reworked units

 Accounting for scrap

Chapter 6:- COST ALLOCATION

 General purpose of cost allocation

 Cost allocation methods

 The contribution approach to cost allocation


Chapter 7:- JOINT PRODUCTS AND BY- PRODUCTS

 Joint products, by products and join cost

 Allocation of joint costs

 Accounting for by- products

Chapter 8:- OPERATION COSTING

 Over view of operation costing

 Just- in time systems

 Back- flush costing


Final examination

Assessment Arrangements: :

 Continuous assessment……..60%
 Final exam………………….40%
 Total……………………….100%

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