ACCT1003 – INTRODUCTION TO COST AND MANAGEMENT ACCOUNTING
Introduction to the
Course
This course,
Introduction to Cost and Management Accounting (ACCT1003),
complements the semester one course, Introduction to Financial
Accounting (ACCT1002). It focuses on current cost and management
accounting theory and practice, with an emphasis on the concepts and
procedures of product costing and strategies to help managers
perform the traditional management functions – planning, controlling
and decision making.
It is a
three-credit, one-semester course. Persons who intend to pursue
financial accounting and financial management will also find it
particularly useful.
Unless you
have done “A” Level accounts or level one of any professional
accounting course, the material will be completely new to you.
Nonetheless, if you work steadily through the units and the related
activities and practice exercises, you should have a good grasp of
the material and fulfill the learning objectives set out at the
beginning of each unit and each session.
Remember that
for any numerate subject that you study, it is important that you
get as much practice as possible in working out problems. While we
do not use a recommended text for this course, if you wish to
further reinforce the material, a good one to use would be T.
Lucey’s Costing.
Course Content
The ten units
in this course are:
Unit 1 - Management
Accounting and Cost Classification
Unit 2 - Manufacturing
Accounts
Unit 3 - Stock Valuation and
Control
Unit 4 - Process Costing
Unit 5 - Job, Batch and
Contract Costing
Unit 6 - Standard Costing
Unit 7 - Marginal Costing
Unit 8 - Cost-Volume-Profit
Analysis
Unit 9 - Budgets and
Budgetary Control
Unit 10 -
Analysing Financial Statements
Remember: Hard work brings
success!
