The course is designed to help students understand that cost accounting system should satisfy two broad objectives (1) the accumulation of cost data for external reporting and (2) the collection of cost data for internal use by management in preforming its functions of planning, controlling and decision making.
The course presents:-
Development and operation of cost accounting systems. Accounting environment for manufacturing firms. Designing and operating effective accounting systems. Process cost accounting system: inventories of work in process, costing multiple products, analysis of costs associated with manufacturing activities; internal control systems for production. Labor control and costing, factory overhead costs. Cost accounting techniques. Standard cost accounting systems. Cost - volume-profit analysis. Distribution cost analysis and control.