cost Accounting 1 Syllabus

Topics: 1981, 1967, 1975 Pages: 6 (1151 words) Published: November 14, 2014
RAFIC HARIRI UNIVERSITY (RHU)
College of Business Administration (CBA)

Course Syllabus
BFIN 340: Cost Accounting I

COURSE INFORMATION
Course Code & Title: BFIN 340: Cost Accounting I

Credits:3 credits
Prerequisite:BFIN 231
Classroom: H204
Schedule: TTh: 8:00 – 9:15
Term: Fall 2014

INSTRUCTOR INFORMATION
Instructor: Rima Hakim
Office: Bldg G, Room 101-H
Office Hours: TTh 9:30 – 11:30, Else by appointment Instructor’s Email:hakimrc@rhu.edu.lb

Textbook & Material: Cost Accounting. 15th edition, Horngren, Datar and Raja, Pearson (Main textbook, required)

Managerial Accounting. 14th edition, Garrison, Noree & Brewer, McGraw Hill (support material)

COURSE GRADING, EXAMS AND GRADE DESIGNATION

Grade Distribution
Attendance & Participation 5%
1st Exam30%
2nd Exam30%
Final Exam (Comprehensive)35%

Examination Dates
Exam IOctober 9, 201475 minutes
Exam II November 6, 2014 75 minutes Final Exam December 16, 2014 120 minutes

Grade Designation
Percentage
Letter Grade
Designation
95 - 100
A +
Distinguished
90 – 94
A
Excellent
86 - 89
B +
Very Good
80 - 85
B
Good
77 - 79
C +
Fair
73 - 76
C
Average
70 - 72
C -
Satisfactory
64 - 69
D +
Minimal Pass
60 - 64
D
Weak
0 - 59
F
Fail

COURSE DESCRIPTION
This course introduces students to the basic concepts, analyses, uses and procedures of management accounting. This course would enable students to understand and view the element of cost as part of activities planned and implemented by a company. It covers cost categories, cost behavior, cost-volume-profit analysis, master and flexible budgets, direct costs and manufacturing overhead variances and inventory cost systems.

COURSE OBJECTIVE

The objective behind this course is to introduce students to different types and categories of costs, and to increase their abilities as to the understanding of the relationships between profit, volume, and costs of output. This course would enable students to understand and view the element of cost as part of activities planned and implemented by a company. The importance of studying and analyzing the difference between actual figures and budgeted figures, the variances produced from static and flexible budgets, the difference between variable and fixed overhead variances are also covered in this course.

COURSE OUTCOMES
Upon successful completion of this course students will learn: 1- The difference between financial accounting and cost accounting 2- The objectives of cost accounting
3- The difference between variable costs, fixed costs, and mixed costs 4- The difference between direct costs and indirect costs
5- The difference between period costs and product cots
6- The relationship between cost, profit, and volume of output 7- The breakeven point analysis
8- The difference between contribution margin and gross margin 9- The difference between job costing and process costing
10- The general approach to job costing
11- The undercosting and overcosting of products and product-cost-cross subsidization 12- The difference between traditional cost allocation and activity based system of cost allocation 13- Costing products and service using activity based costing (ABC) 14- Defining master budget and the advantages of budgeting

15- Preparing operating budget and its supporting schedules 16- Developing flexible budgets and computing flexible budget variances and sales volume variances 17- Computing price and efficiency variance for direct material and direct labor 18- Standard costs and their use in variances analysis

19- Computing variable overhead spending and efficiency variances 20- Efficiency variances for direct and indirect cost items
21- Computing...
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