ACC2232 - Cost Accounting Study Plan

Assalamualaikum and dear Costing students,

Below is the study plan for this semester, hope you'll be able to benefit from this....

	WEEK	TOPIC
WEEK 1 9/7/18 – 13/7/18		1.       INTRODUCTION TO COST ACCOUNTING ·         Basic definition of cost accounting ·         Objective of cost accounting ·         Difference between cost accounting and management accounting
		2.   COST CONCEPTS AND CLASSIFICATIONS ·         Cost concept Ø  Cost unit Ø  Cost centre
WEEK 2 16/7/18 – 20/7/18		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
WEEK 3 23/7/18 – 27/8/18		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
	WEEK 4 30/8/18 – 3/8/18	3.   MATERIAL COSTS – cont’ ·        Stock valuation methods Ø  FIFO Ø  LIFO Ø  Weighted average
	WEEK 5 6/8/18 – 10/8/18	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
	WEEK 6 13/8/18 – 17/8/18	4.  LABOUR COSTS – cont’ ·         Methods of remuneration Ø  Time based, Output based, Incentive schemes ·         Advantages and disadvantages of each type remuneration methods
	WEEK 7 17/8/18 – 26/8/17 MID-SEMESTER BREAK
	WEEK 8 27/8/18 – 31/8/18	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
	WEEK 9 3/9/18 – 7/9/18	5.   OVERHEAD COSTS – cont’ ·         Predetermined absorption rates Ø  Over or under absorption of overhead
	WEEK 10 10/9/18 – 14/9/18	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
	WEEK 11 17/9/18 – 21/9/18	6.   JOB COSTING – cont’ ·         Recording the flow of job costing Ø  Accounting for material, labour and overhead Ø  Job cost sheet preparation
	WEEK 12 24/9/18 – 28/9/18	6.   JOB COSTING – cont’ ·         Batch costing
		7.   CONTRACT COSTING ·         Overview of contract costing Ø     Definition Ø     Characteristics ·         Cost accumulation Ø     Materials, wages, plant and others
	WEEK 13 1/10/18 – 5/10/18	7.   CONTRACT COSTING – cont’ ·         Progress payments Ø     Value of work certified Ø     Retention money ·         Profit calculation and balance sheet entries for uncompleted contracts
	WEEK 14 8/10/18 – 12/10/18	7.   CONTRACT COSTING – cont’ ·         Profit calculation and balance sheet entries for uncompleted contracts
		8.   PROCESS COSTING ·         Overview of process costing Ø  Definition Ø  Characteristics ·         Flow of costs in process costing system
	WEEK 15 15/10/18 – 19/10/18	8.   PROCESS COSTING – cont’ ·         Process losses Ø     Normal loss Ø     Abnormal loss Ø     Abnormal gain ·         Equivalent units ·         Joint product and by-product
	WEEK 16 22/10/18 – 23/10/18	8.   PROCESS COSTING – cont’ ·         Joint product and by-product

ACC2236 - Management Accounting Study Plan

Assalamualaikum and dear students,

Below is the study plan for this semester. Do some reading and it will enhance you knowledge. Always browse thru this blog or any other blogs which you may find suitable and relevant.

WEEK 1 9/7/18 – 13/7/18	TOPIC 1: INTRODUCTION TO MANAGEMENT ACCOUNTING ·     The role of management accounting ·     Basic terminology in management accounting ·     Cost behaviour
WEEK 2 16/7/18 – 20/7/18	TOPIC 2: ABSORPTION AND MARGINAL COSTING ·      Definition and concept of absorption and marginal costing ·      Comparison between absorption and marginal costing ·      Advantages and disadvantages of absorption and marginal costing ·      Absorption and marginal costing statement
WEEK 3 23/7/18 – 27/8/18	TOPIC 2: ABSORPTION AND MARGINAL COSTING – cont’ ·       Absorption and marginal costing statement
WEEK 4 30/8/18 – 3/8/18	TOPIC 3: ACTIVITY-BASED COSTING (ABC) ·         Emergence of ABC costing system ·         Principles of ABC ·       Comparison between ABC with traditional systems (marginal & absorption costing)
WEEK 5 6/8/18 – 10/8/18	TOPIC 3: ACTIVITY-BASED COSTING (ABC) – cont’ ·         ABC costing statements
WEEK 6 13/8/18 – 17/8/18	TOPIC 4: COST-VOLUME PROFIT ·         Mathematical approach to CVP analysis ·         Break-even analysis: Single product vs. multiple products and its limitations

WEEK 7 17/8/18 – 26/8/17 MID-SEMESTER BREAK
WEEK 8 27/8/18 – 31/8/18	TOPIC 4: COST-VOLUME PROFIT – cont’ Contribution margin analysis
WEEK 9 3/9/18 – 7/9/18	TOPIC 5: RELEVANT COST FOR SHORT TERM DECISION MAKING ·           Concept of relevant costs ·           Make or Buy ·           Accepting or rejecting order
WEEK 10 10/9/18 – 14/9/18	TOPIC 5: RELEVANT COST FOR SHORT TERM DECISION MAKING – cont’ ·           Concept of relevant costs ·           Make or Buy ·           Accepting or rejecting order
WEEK 11 17/9/18 – 21/9/18	TOPIC 6: BUDGETARY PLANNING AND CONTROL ·         Functions and types of budgets ·         Preparation of the budget
WEEK 12 24/9/18 – 28/9/18	TOPIC 6: BUDGETARY PLANNING AND CONTROL  – cont’ ·         Fixed and flexible budgeting ·         Behavioural aspects of budgeting
WEEK 13 1/10/18 – 5/10/18	TOPIC 6: BUDGETARY PLANNING AND CONTROL  – cont’ ·         Fixed and flexible budgeting ·         Behavioural aspects of budgeting
WEEK 14 8/10/18 – 12/10/18		TOPIC 6: BUDGETARY PLANNING AND CONTROL  – cont’ ·         Fixed and flexible budgeting ·         Behavioural aspects of budgeting
		TOPIC 7: STANDARD COSTING AND VARIANCE ANALYSIS ·           Introduction and types of standards
WEEK 15 15/10/18 – 19/10/18		TOPIC 7: STANDARD COSTING AND VARIANCE ANALYSIS – cont’ ·         Material variances ·         Labour variances ·         Overhead variances – Variable and fixed ·         Profit reconciliation statements
WEEK 16 22/10/18 – 23/10/18		TOPIC 7: STANDARD COSTING AND VARIANCE ANALYSIS – cont’ ·         Material variances ·         Labour variances ·         Overhead variances – Variable and fixed ·         Profit reconciliation statements