To expose students to the terminology, methods, techniques and basic principles of costing and cost control methods, and to further develop the student’s knowledge of principles of cost accounting and advanced costing methods.
On completion of this module the students should be able to:
- Understand cost accounting, its scope, purpose, and methods.
- Understand nature, elements and classifications of cost.
- Understand cost control.
- Know Cost Centres, costing documents and records.
- Understand the term materials, store keeping, purchasing and inventory control, pricing materials issued and valuation methods.
- Understand labour: factory procedures, recruitment, payroll control and measurement of efficiency
- Understand the nature and classification of overheads.
All information and data for this course material are generated from various secondary sources such as the ICAN study pack, tertiary institution course material, online journals and articles, and other relevant webpages.
This course material is very fundamental to student of tertiary institution in the pursuit of academic excellence, as well as in workplace. The aim of this study material is to provide relevant insight for developing their knowledge and to carry out assignments.
Under no circumstance should the course material be used for illegal purposes whatsoever. They are all structurally design for reading conveniences and to create introductory knowledge for student who may wish to venture into accounting field of study.
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- BATCH COSTING
- CONTRACT COSTING AND ACCOUNTING
- CONTRIBUTION MARGIN RATIO
- COST BEHAVIOUR
- COST BOOK KEEPING
- COST CLASSIFICATIONS
- COSTING METHOD
- CURRENT TRENDS AND DEVELOPMENTS IN COST ACCOUNTING
- DEFINITION OF BUDGET
- ELEMENT OF COST
- INTRODUCTION TO COST ACCOUNTING
- INTRODUCTION TO LABOUR COSTING
- JOB ORDER COSTING PROCEDURE
- JOINT PRODUCT AND BY PRODUCT
- LABOUR COST COMPUTATION
- LABOUR TURNOVER
- MARGINAL AND ABSORPTION COSTING TECHNIQUES
- MATERIALS CONTROL AND STORE PROCEDURE
- NATURE OF OVERHEAD
- OVERHEADS ABSORPTION METHODS
- PAYROLL PREPARATION AND ACCOUNTING
- PRICING ISSUES
- PROCESS COSTING
- PURCHASING PROCEDURE
- SALES MARGIN VARIANCES
- STANDARD COSTING
- STOCK CONTROL AND VALUATION
- STORES PROCEDURES AND TYPES OF STORES
- THE CONCEPT OF BREAK-EVEN ANALYSIS
- UNIFORM COSTING
- VARIANCE ANALYSIS