Below is the study plan for this semester, hope you'll be able to benefit from this....
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WEEK
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TOPIC
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WEEK 1
9/7/18 – 13/7/18
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1. INTRODUCTION
TO COST ACCOUNTING
·
Basic
definition of cost accounting
·
Objective
of cost accounting
·
Difference
between cost accounting and management accounting
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2. COST
CONCEPTS AND CLASSIFICATIONS
·
Cost concept
Ø Cost unit
Ø Cost centre
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WEEK 2
16/7/18 – 20/7/18
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2. COST
CONCEPTS AND CLASSIFICATIONS – cont’
·
Cost classification
Ø Behaviour
Ø Product
Ø Cost objectives
‐
Relevant and irrelevant costs
‐
Avoidable and unavoidable cost
‐
Sunk cost
‐
Opportunity costs
‐
Controllable and
uncontrollable cost
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WEEK 3
23/7/18 – 27/8/18
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3. MATERIAL COSTS
·
Distinguish between direct
material and indirect material
·
Material purchasing procedure
·
Inventory control method
Ø Objective of inventory control
Ø Economic order quantity
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WEEK 4
30/8/18 – 3/8/18
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3. MATERIAL COSTS – cont’
·
Stock valuation methods
Ø FIFO
Ø LIFO
Ø Weighted average
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WEEK 5
6/8/18 – 10/8/18
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4. LABOUR
COSTS
·
Distinguish
between direct labour and indirect labour
·
Labour
control procedure
Ø
Recruitment
process
Ø
Methods
of recording labour times
·
Methods of remuneration
Ø Time based, Output based, Incentive schemes
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WEEK 6
13/8/18 – 17/8/18
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4. LABOUR
COSTS – cont’
·
Methods of remuneration
Ø Time based, Output based, Incentive schemes
·
Advantages and disadvantages
of each type remuneration methods
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WEEK 7
17/8/18 – 26/8/17
MID-SEMESTER BREAK
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WEEK 8
27/8/18 – 31/8/18
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5. OVERHEAD
COSTS
·
Classification of overhead
costs
·
Distinguish between
production and service cost centre
·
Overhead analysis sheet
preparation
Ø Cost allotment, cost apportionment and cost reapportionment steps
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WEEK 9
3/9/18 – 7/9/18
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5. OVERHEAD
COSTS – cont’
·
Predetermined absorption
rates
Ø Over or under absorption of overhead
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WEEK 10
10/9/18 – 14/9/18
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6. JOB COSTING
·
Overview
of job costing
Ø Definition
Ø Characteristics
·
Recording
the flow of job costing
Ø Accounting for material, labour and overhead
Ø Job cost sheet preparation
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WEEK 11
17/9/18 – 21/9/18
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6. JOB COSTING – cont’
·
Recording
the flow of job costing
Ø Accounting for material, labour and overhead
Ø Job cost sheet preparation
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WEEK 12
24/9/18 – 28/9/18
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6. JOB COSTING – cont’
·
Batch
costing
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7. CONTRACT COSTING
·
Overview
of contract costing
Ø Definition
Ø Characteristics
·
Cost
accumulation
Ø Materials, wages, plant and others
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WEEK 13
1/10/18 – 5/10/18
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7. CONTRACT COSTING – cont’
·
Progress
payments
Ø Value of work certified
Ø Retention money
·
Profit
calculation and balance sheet entries for uncompleted contracts
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WEEK 14
8/10/18 – 12/10/18
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7. CONTRACT COSTING – cont’
·
Profit
calculation and balance sheet entries for uncompleted contracts
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8. PROCESS COSTING
·
Overview
of process costing
Ø Definition
Ø Characteristics
·
Flow
of costs in process costing system
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WEEK 15
15/10/18 – 19/10/18
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8. PROCESS COSTING – cont’
·
Process
losses
Ø Normal loss
Ø Abnormal loss
Ø Abnormal gain
·
Equivalent
units
·
Joint product and by-product
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WEEK 16
22/10/18 – 23/10/18
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8. PROCESS COSTING – cont’
·
Joint product and by-product
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