Syllabus

INSTRUCTOR : M. Mete DOĞANAY (Ph.D)

TEXT : Edmonds, T., Edmonds, C., Tsay, B., Olds, P., and Schneider, N., Fundamentals of Managerial Accounting Concepts, McGraw-Hill Irwin, 2006.

TIME AND PLACE : Section 01 : Monday, 0940-1230, A-417
Section 02 : Wednesday, 0940-1230, A-410

COURSE DESCRIPTION : This course covers basic cost accounting and managerial accounting concepts. Topics included are: the distinction between financial accounting, managerial accounting and cost accounting, basic cost concepts, cost accumulation, cost allocation, cost flows, job order and process costing, variable costing, cost-volume-profit analysis, differential cost analysis, budgeting and variance analyses.

EXAMS : Students will take one midterm and one final exam which will be equally weighted.
 

 

WEEK
TOPICS
 
 
1
Introduction to Cost and Managerial Accounting
 
- Main Types of accounting
- Managerial accounting
- Cost accounting
- Basic cost concepts
 
 
2
Cost Accumulation
 
- Functional classification of costs and expenses
- Types of costs and expenses
- Cost pools
- Journal entries for cost flows
 
 
3-4
Cost Allocation
 
- Allocating support department costs to production departments by using direct method, step method, and mathematical method
 
 
5
Job-Order Costing
 
-Characteristics of job-order costing
- Journal entries and posting to the accounts
- Cost flows
- Allocation of manufacturing overhead
 
 
6
Process Costing
 
- Characteristics of process costing
- Production cost report
- Process costing with multiple departments
7
Variable-Costing
 
- Full absorption and variable costing
- Variable costing (contribution margin) income statement
8
Review and Problem Solving
9
Midterm Exam
 
 
10
Cost-Volume-Profit and Differential Cost Analysis
 
- Break-even analysis
- Target pricing
- Variable and fixed cost analysis
- Differential cost analysis
 
 
 
11-12
Budgeting
 
- Planning for business activities
- Advantages of budgeting
- Types of budgets
- Integrated budget preparation
13
Variance Analysis
 
- Flexible budgets
- Variance analysis
14
Review and Problem Solving