Department of Management Sciences
Cost Accounting
Course Code MG201
Fall Semester 2014
Instructor:
Miss Faryal Raheem, Lecturer, Management Sciences Department
Email: faryal.raheem@abasyn.edu.pk
Course Description
The objective of this course isto introduces students with the concept of cost accounting.
A number of numerical and theories will be discussed in real words.
Intended Learning Outcomes
At the end of this course, students should be able to:

Demonstrate an understanding of the differences between job order costing
and process costing.

Demonstrate knowledge of the tools to make management decisions using
relevant costs and capital budgeting techniques.

Explain how an organization develops their master budget.

Demonstrate knowledge of standard costs and analysis of variances.
Teaching Methodology and Examination:
The course will mix lectures, quizzes and assignments from students and discussions. The
course would equip the student with both theory and practice of Cost Accounting. Midterm and final term paper will be in written format.
Class Policy
1. All students must reach the classroom in time.
2. Students failing to secure 75% attendance shall not be allowed to sit in the Final
Examination.
3. Students, who are absent on the announcement date of assignment/ test or any
other activity, must get the topic/ chapter of the test/ assignment/ or any other
activity confirmed through their peers.
4. Assignment submission deadline must be observed. In case of late submission, the
assignment will be marked 10% less out of total marks.
5. Mobile phones should be switched-off or maybe put on silent mode in the
classroom.
6. Course-books and relevant course-material is available in the Library for
reference and photocopying.
Topics to be covered:
See details on page no 3
Main Text Book:
Usry.Metz. cost accounting.5th edition
Further Recommended Readings
 Lecture notes, materials and Handouts
Major Examinations in the course:
Midterm:
Week no. 8
Final Exam: Week No. 16. According to the university schedule in September, 2013
Assignment
A Major assignment covering all different topics in Cost Accounting will be provided to
the students. The weight age for the assignment is 10%. Late assignments will be
penalized. The assignments shall be hand written.
Provision of Assignment
Week 3
Review of Draft Assignments
Week 12
Submission of Final Assignment
Week 15
Marks Distribution:
Mid Term
Assignments
25%
10%
Quizzes
15%
Final Exam
50%
--------------------------------------------------------------Total
100%
Plan/Calendar for Quizzes, Presentations during the course
There will be a quiz in each class, in total for 14/15 weeks of study there will be same
number of quizzes. Students are advised not to miss the class. The quiz will comprise of
what is being taught in the class. Presentations schedule will be provided during the
course of the study.
Detailed Topics to covered during the course
S.#
1
2
3
4
5
6
Topics to be Covered
Cost accounting concepts and objectives: Cost accounting
definition, objectives functions management functions
Financial statements the basis for planning & control:
Types of expenses Problems: 1,2,3,5,8,9 QUIZ#1
Costs concepts uses & classification: Types of costs
Fundamentals of cost accounting information system
Chart of accounts Problems:4,5,6,9
Week
1
Chapters
Chapter#1
2
Chapter#2
3
Chapter#3
The cost accounting system & procedure: Manufacturing
accounting cycle Problems:2,3,4,5,6 QUIZ#2
Job order costing: Definition What is job order cost sheet
Probles:2,5-1 ASSIGNMENT#1
Process costing: Characteristics & procedure of process
costing The cost of production report Probles:1,2,3,4,5
QUIZ#3
4&5
Chapter#4
6
Chapter# 5
7
Chapter 6
7
8
Mid Term
By product and joint product costing: Definition of joint
product & joint product Problems:4,5,6,8,9 ASSIGNMENT#2
Planning & control of factory overhead: Factory overhead
definition Accumulation of factory overhead
Problems:1,2,3,4,5,7,8,9 QUIZ#4
Planning & control of materials and labors: Definition of
LIFO & FIFO PROBLES:1,2,3
8
9&10
Chapter#8
11,12
Chapter#9
13
11
Quantitative model for materials planning and control:
Definition of EOQ Problems:1,3,4,5,6 QUIZ#5
ASSIGNMENT#3
14&15
Chapter #
10
Chapter #
11
12
13
Submission of Assignments
Final Term Examination
15
16
9
10
Submitted By: Faryal Raheem
Dated: 3 Sept , 2014
HOD/Coordinator: _____________________