Cost Accounting ACNE 2302

Course description:

This course is designed to provide an understanding of traditional and contemporary product costing techniques, cost allocation practices and cost-management issues. Topics include preparing income statement in manufacturing companies and how to differentiate between product costs and period costs, how to prepare schedule of cost manufactured. Also include job costing system, process costing system, activity-based costing and analysis of variance for standard costs. In addition, the course explores the uses of costing techniques and practices for various types of management decisions. 

Course Aims:

  • Describe how cost accounting supports management accounting and financial accounting.
  • Distinguish between direct and indirect costs.
  • Explain product costs and period costs.
  • Distinguish between job costing and process costing.
  • Identify the basics for activity-based costing.
  • Analyze the variance between actual cost and standard cost.


Course outcomes:

Upon completion of this course, the student should be able to:
  • Understand the concept of cost accounting and its objectives ,and classifications.  
  • Construct and analyze accounting information for the purpose of making business decisions.
  • Prepare and evaluate information and reports used by management to plan, direct, motivate, and control manufacturing processes for various business costing models.
  • Develop a cost behavior model for the purpose of making business decisions.
  • Distinction between the types of costs.
  • Defined the costs system in manufacturing companies.
  • Distinct between job costing and process costing.
  • Gain the talents for analyzing the reasons for cost variance.