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COST ACCOUNTING

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  • Program in Business Administration (English)
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Learning Outcomes

  • Explain cost accounting systems
  • Explain the purposes of cost accounting
  • Define the concepts of cost, expense, loss and revenue
  • Explain the relationships between cost and financial accounting
  • Prepare production cost statement and cost of goods sold statement
  • Explain main manufacturing cost elements
  • Calculate inventory costs according to the inventory valuation techniques and make journal entries of them
  • Calculate labor costs and record them
  • Calculate factory over head costs and record them
  • Make costs allocations (first and second)
  • Explain cost from the view point of the relationship with cost centers
  • make cost allocations according to the drect stepdown and mathematical techniques and record them
  • Calculate production cost according to the job cost system
  • Calculate production cost according to the job cost system
  • Explain the principles of job order costing system
  • prepare the documents that are with job cost system
  • Make the accounting records
  • calculate product costs according to the process costing
  • Explain the flow of costs in process system
  • Explain the steps that will be used in process costing
  • Description
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