Description

Course Description – Cost Accounting

This course builds upon students’ foundational knowledge of accounting by introducing the principles, methods, and techniques of cost accounting. It focuses on the measurement, classification, allocation, and reporting of costs to support planning, control, and managerial decision-making. Students gain an understanding of the role of cost accounting within the broader accounting system and its relationship with financial and management accounting.

The course covers key topics including cost measurement systems, cost assignment and allocation methods, documentation and recording of cost data, subsidiary ledgers, analytical cost reports, and the preparation of different types of cost reports for business decision-making. Through lectures, case studies, and practical exercises, students develop the ability to select and apply appropriate costing methods in various organisational contexts.

Upon successful completion of the course, students will be able to apply fundamental cost accounting principles, evaluate and implement suitable cost measurement and allocation systems, prepare and interpret cost reports, and use cost information to support operational and strategic business decisions.

Learning Outcomes

Knowledge and understanding: Students: - are familiarized with the role and importance of cost accounting in an organization - acquire fundamental knowledge of basic principles and methods of cost measurement, assignment and allocation - get practical skills to use different cost systems and tools.