The course deals with examining cost accounting as a tool for providing information for manufacturing, internal reporting, external reporting as well as for managerial decision making. The broad course objectives are to help students to understand the central concepts of cost accounting, the methods of conducting data analysis preparation of reports for managerial decision making. This course will enable students to understand cost concepts, objectives, scope, cost flow and classification, cost behavior and other associated concepts and to explain material, labor, factory overhead costing and control, accounting for joint- and by-products and prepare job-order cost sheet and cost of production report.
COURSE LEARNING OUTCOMES (CLO)
CLO: 1. To understand the role of costing in assisting the preparation of accounts enabling management to carry out its function
CLO: 2. To develop basic understanding of costing system
CLO: 3. To understand how different cost accounting statements are prepared