Course_outline_12 - COURSE OUTLINE Course Name and Code...

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1 Course Name COST AND MANAGEMENT ACCOUNTING I (2011-2012) and Code ACCT2160 Total Hours 60 Credits 4 Prerequisite(s) ACCT1130 Introductory Cost Accounting COMP1003 Business Computing Applications II Corequisite(s) Course Description This course introduces the elements of process costing systems, activity-based costing systems, standard costing systems, flexible budgets, and the special features of accounting for labour costs in a manufacturing business. Course Outcomes Successful completion of this course will enable the student to: 1. Describe how labour costs are accounted for in a manufacturing environment and how labour costs incurred in a period differ from gross payrolls paid in a period. 2. Analyze the changes in the Accrued Payroll account for a given period. 3. Prepare a production report and related journal entries to record the flow of materials, labour, and overhead in a process costing system for a manufacturing enterprise. 4. Prepare the schedules involved in setting up an Activity-Based Cost System, and the schedules used in analyzing the costs charged to a particular job or project. 5. Analyze the use of flexible budgets in a manufacturing business 6. Analyze the variable and fixed manufacturing cost variances in a standard cost system. 7. Prepare the journal entries associated with a standard cost system for a manufacturing business. 8. Prepare electronic spreadsheet templates that produce both schedules and journal entries referred to in the preceding outcomes. RETAIN THIS DOCUMENT FOR FUTURE EDUCATIONAL\EMPLOYMENT USE
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Course_outline_12 - COURSE OUTLINE Course Name and Code...

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