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