Course Detail
Course Detail
Course Description
| Course | Code | Semester | T+P (Hour) | Credit | ECTS |
|---|---|---|---|---|---|
| COST ACCOUNTING | ECO2115385 | Fall Semester | 3+0 | 3 | 5 |
| Course Program |
| Prerequisites Courses | |
| Recommended Elective Courses |
| Language of Course | English |
| Course Level | First Cycle (Bachelor's Degree) |
| Course Type | Required |
| Course Coordinator | Assoc.Prof. Orhan ÖZAYDIN |
| Name of Lecturer(s) | Assoc.Prof. Orhan ÖZAYDIN |
| Assistant(s) | |
| Aim | It is aimed for students to learn the basic concepts of cost accounting and management, classification of costs, cost elements, cost centers and cost distribution methods, and to be able to make cost accounting applications regarding the determination of production costs. |
| Course Content | This course contains; Introduction to Cost and Management Accounting,Conceptual Framework of Cost Accounting,Classification of Cost and Expenses,Raw Material and Labor Costs - Stock Tracking,FIFO, LIFO, and Weighted Costing Methods,First Distribution of Expenses,Second and Third Distribution of Expenses,Cost Systems,Nature and Functions of Management Accounting, Cost-Volume Relationships, Analytical Methods, Accounting Methods, and Statistical Techniques,Cost-Volume-Profit Analysis, Profit Functions, Applications of Profit Functions, Break-even Point,Break-even and Volume-Profit Graphs, Changes in Parameters of Profit Function, Assumptions Underlying Cost-Volume-Profit Analysis,Application of Cost-Volume-Profit Analysis in Management Decision-Making,Business Budgets, Nature of Budgeting, General Principles of Budgeting,Preparation of Budgets. |
| Course Learning Outcomes | Teaching Methods | Assessment Methods |
| 1.Understand the general principles of Cost Accounting | 16, 9 | A |
| 1.1.Explain the basic purposes of cost accounting | 16, 9 | A |
| 1.2.Define cost accounting within the uniform accounting | 16, 9 | A |
| 2.Explain the concept of cost | 16, 9 | A |
| 2.1.Define different types of the costs | 16, 9 | A |
| 2.2.Make cost analysis | 12, 16, 9 | A |
| 3.Make calculation of cost | 12, 16, 9 | A |
| 3.1.Apply unit cost calculation techniques | 12, 16, 9 | A |
| 3.2.Calculate raw materials, labor and general production expenses | 12, 16, 9 | A |
| 4.Make records of cost accounting | 12, 16, 9 | A |
| 4.1.Calculate overall production cost | 12, 16, 9 | A |
| 4.2.Make cost accounting records with Uniform Chart of Account | 12, 16, 9 | A |
| 5.Prepare the statement of cost of goods sold | 12, 16, 9 | A |
| 5.1.Define the cost of goods sold table | 16, 9 | A |
| 5.2.Calculate cost of goods sold elements | 12, 16, 9 | A |
| Teaching Methods: | 12: Problem Solving Method, 16: Question - Answer Technique, 9: Lecture Method |
| Assessment Methods: | A: Traditional Written Exam |
Course Outline
| Order | Subjects | Preliminary Work |
|---|---|---|
| 1 | Introduction to Cost and Management Accounting | |
| 2 | Conceptual Framework of Cost Accounting | |
| 3 | Classification of Cost and Expenses | |
| 4 | Raw Material and Labor Costs - Stock Tracking | |
| 5 | FIFO, LIFO, and Weighted Costing Methods | |
| 6 | First Distribution of Expenses | |
| 7 | Second and Third Distribution of Expenses | |
| 8 | Cost Systems | |
| 9 | Nature and Functions of Management Accounting, Cost-Volume Relationships, Analytical Methods, Accounting Methods, and Statistical Techniques | |
| 10 | Cost-Volume-Profit Analysis, Profit Functions, Applications of Profit Functions, Break-even Point | |
| 11 | Break-even and Volume-Profit Graphs, Changes in Parameters of Profit Function, Assumptions Underlying Cost-Volume-Profit Analysis | |
| 12 | Application of Cost-Volume-Profit Analysis in Management Decision-Making | |
| 13 | Business Budgets, Nature of Budgeting, General Principles of Budgeting | |
| 14 | Preparation of Budgets |
| Resources |
| W.Lanen, A. Anderson and M. Maher, Fundamentals of Cost Accounting, McGrawHill, 7th Edition, 2023 |
| M. V. Rajan and M. Datar, HornGren's Cost Accounting A Managerial Emphasis, Pearson 17th Edition, 2020. V.N. Tanış and H. Özyapıcı, Cost and Management Accounting , Karahan Kitapevi, 2023. T.S. Reddy and H.P. Reddy, Cost Accounting, Margham Publication, 2020 Edition. |
Course Contribution to Program Qualifications
| Course Contribution to Program Qualifications | |||||||
| No | Program Qualification | Contribution Level | |||||
| 1 | 2 | 3 | 4 | 5 | |||
| 1 | (S)he describes theoretical knowledge in economics and finance. | ||||||
| 2 | (S)he explains mathematical and statistical methods needed for economics and finance. | X | |||||
| 3 | (S)he uses at least one computer program utilized for economic and financial analyses (SPSS, Eviews, STATA, R ve MATLAB). | ||||||
| 4 | (S)he has the foreign language proficiency necessary for economics and finance. | ||||||
| 5 | (S)he develops projects in the field and handles team work. | X | |||||
| 6 | (S)he develops (her) his awareness of lifetime learning, follows the developments in (her) his field and adopts a critical approach. | ||||||
| 7 | (S)he uses theoretical and practical knowledge on economics and finance. | X | |||||
| 8 | (S)he delivers (her) his opinions by making effective use of modern technologies and of at least one foreign language at a minimum level of level C1. | ||||||
| 9 | (S)he adopts and uses organizational, corporate and social ethical values. | ||||||
| 10 | (S)he adopts principles of social responsibility and acts whenever needed in light of social service sensitivity. | ||||||
| 11 | (S)he analyzes and uses basic knowledge and data regarding different disciplines to conduct inter-disciplinary studies. | X | |||||
| 12 | (S)he benefits from (her) his proficiency in economics and finance to make policy suggestions and contribute to the field. | X | |||||
Assessment Methods
| Contribution Level | Absolute Evaluation | |
| Rate of Midterm Exam to Success | 40 | |
| Rate of Final Exam to Success | 60 | |
| Total | 100 | |
| ECTS / Workload Table | ||||||
| Activities | Number of | Duration(Hour) | Total Workload(Hour) | |||
| Course Hours | 14 | 3 | 42 | |||
| Guided Problem Solving | 14 | 3 | 42 | |||
| Resolution of Homework Problems and Submission as a Report | 14 | 1 | 14 | |||
| Term Project | 6 | 1 | 6 | |||
| Presentation of Project / Seminar | 0 | 0 | 0 | |||
| Quiz | 0 | 0 | 0 | |||
| Midterm Exam | 1 | 23 | 23 | |||
| General Exam | 1 | 23 | 23 | |||
| Performance Task, Maintenance Plan | 0 | 0 | 0 | |||
| Total Workload(Hour) | 150 | |||||
| Dersin AKTS Kredisi = Toplam İş Yükü (Saat)/30*=(150/30) | 5 | |||||
| ECTS of the course: 30 hours of work is counted as 1 ECTS credit. | ||||||
Detail Informations of the Course
Course Description
| Course | Code | Semester | T+P (Hour) | Credit | ECTS |
|---|---|---|---|---|---|
| COST ACCOUNTING | ECO2115385 | Fall Semester | 3+0 | 3 | 5 |
| Course Program |
| Prerequisites Courses | |
| Recommended Elective Courses |
| Language of Course | English |
| Course Level | First Cycle (Bachelor's Degree) |
| Course Type | Required |
| Course Coordinator | Assoc.Prof. Orhan ÖZAYDIN |
| Name of Lecturer(s) | Assoc.Prof. Orhan ÖZAYDIN |
| Assistant(s) | |
| Aim | It is aimed for students to learn the basic concepts of cost accounting and management, classification of costs, cost elements, cost centers and cost distribution methods, and to be able to make cost accounting applications regarding the determination of production costs. |
| Course Content | This course contains; Introduction to Cost and Management Accounting,Conceptual Framework of Cost Accounting,Classification of Cost and Expenses,Raw Material and Labor Costs - Stock Tracking,FIFO, LIFO, and Weighted Costing Methods,First Distribution of Expenses,Second and Third Distribution of Expenses,Cost Systems,Nature and Functions of Management Accounting, Cost-Volume Relationships, Analytical Methods, Accounting Methods, and Statistical Techniques,Cost-Volume-Profit Analysis, Profit Functions, Applications of Profit Functions, Break-even Point,Break-even and Volume-Profit Graphs, Changes in Parameters of Profit Function, Assumptions Underlying Cost-Volume-Profit Analysis,Application of Cost-Volume-Profit Analysis in Management Decision-Making,Business Budgets, Nature of Budgeting, General Principles of Budgeting,Preparation of Budgets. |
| Course Learning Outcomes | Teaching Methods | Assessment Methods |
| 1.Understand the general principles of Cost Accounting | 16, 9 | A |
| 1.1.Explain the basic purposes of cost accounting | 16, 9 | A |
| 1.2.Define cost accounting within the uniform accounting | 16, 9 | A |
| 2.Explain the concept of cost | 16, 9 | A |
| 2.1.Define different types of the costs | 16, 9 | A |
| 2.2.Make cost analysis | 12, 16, 9 | A |
| 3.Make calculation of cost | 12, 16, 9 | A |
| 3.1.Apply unit cost calculation techniques | 12, 16, 9 | A |
| 3.2.Calculate raw materials, labor and general production expenses | 12, 16, 9 | A |
| 4.Make records of cost accounting | 12, 16, 9 | A |
| 4.1.Calculate overall production cost | 12, 16, 9 | A |
| 4.2.Make cost accounting records with Uniform Chart of Account | 12, 16, 9 | A |
| 5.Prepare the statement of cost of goods sold | 12, 16, 9 | A |
| 5.1.Define the cost of goods sold table | 16, 9 | A |
| 5.2.Calculate cost of goods sold elements | 12, 16, 9 | A |
| Teaching Methods: | 12: Problem Solving Method, 16: Question - Answer Technique, 9: Lecture Method |
| Assessment Methods: | A: Traditional Written Exam |
Course Outline
| Order | Subjects | Preliminary Work |
|---|---|---|
| 1 | Introduction to Cost and Management Accounting | |
| 2 | Conceptual Framework of Cost Accounting | |
| 3 | Classification of Cost and Expenses | |
| 4 | Raw Material and Labor Costs - Stock Tracking | |
| 5 | FIFO, LIFO, and Weighted Costing Methods | |
| 6 | First Distribution of Expenses | |
| 7 | Second and Third Distribution of Expenses | |
| 8 | Cost Systems | |
| 9 | Nature and Functions of Management Accounting, Cost-Volume Relationships, Analytical Methods, Accounting Methods, and Statistical Techniques | |
| 10 | Cost-Volume-Profit Analysis, Profit Functions, Applications of Profit Functions, Break-even Point | |
| 11 | Break-even and Volume-Profit Graphs, Changes in Parameters of Profit Function, Assumptions Underlying Cost-Volume-Profit Analysis | |
| 12 | Application of Cost-Volume-Profit Analysis in Management Decision-Making | |
| 13 | Business Budgets, Nature of Budgeting, General Principles of Budgeting | |
| 14 | Preparation of Budgets |
| Resources |
| W.Lanen, A. Anderson and M. Maher, Fundamentals of Cost Accounting, McGrawHill, 7th Edition, 2023 |
| M. V. Rajan and M. Datar, HornGren's Cost Accounting A Managerial Emphasis, Pearson 17th Edition, 2020. V.N. Tanış and H. Özyapıcı, Cost and Management Accounting , Karahan Kitapevi, 2023. T.S. Reddy and H.P. Reddy, Cost Accounting, Margham Publication, 2020 Edition. |
Course Contribution to Program Qualifications
| Course Contribution to Program Qualifications | |||||||
| No | Program Qualification | Contribution Level | |||||
| 1 | 2 | 3 | 4 | 5 | |||
| 1 | (S)he describes theoretical knowledge in economics and finance. | ||||||
| 2 | (S)he explains mathematical and statistical methods needed for economics and finance. | X | |||||
| 3 | (S)he uses at least one computer program utilized for economic and financial analyses (SPSS, Eviews, STATA, R ve MATLAB). | ||||||
| 4 | (S)he has the foreign language proficiency necessary for economics and finance. | ||||||
| 5 | (S)he develops projects in the field and handles team work. | X | |||||
| 6 | (S)he develops (her) his awareness of lifetime learning, follows the developments in (her) his field and adopts a critical approach. | ||||||
| 7 | (S)he uses theoretical and practical knowledge on economics and finance. | X | |||||
| 8 | (S)he delivers (her) his opinions by making effective use of modern technologies and of at least one foreign language at a minimum level of level C1. | ||||||
| 9 | (S)he adopts and uses organizational, corporate and social ethical values. | ||||||
| 10 | (S)he adopts principles of social responsibility and acts whenever needed in light of social service sensitivity. | ||||||
| 11 | (S)he analyzes and uses basic knowledge and data regarding different disciplines to conduct inter-disciplinary studies. | X | |||||
| 12 | (S)he benefits from (her) his proficiency in economics and finance to make policy suggestions and contribute to the field. | X | |||||
Assessment Methods
| Contribution Level | Absolute Evaluation | |
| Rate of Midterm Exam to Success | 40 | |
| Rate of Final Exam to Success | 60 | |
| Total | 100 | |