Cost Accounting (CNT332) | GSÜ - ECTS Information Guide

Content

Objective

The objective of the course is to inform students about cost accounting methods and cost accounting systems used in manufacturing companies

Course Content

- Basic Concepts and Objectives of Cost Accounting
- Direct Materials
- Direct Labor
- Factory Overhead
- Calculating Total and Unit Costs
- Cost Accounting Journals under Uniform Chart of Accounts
- Periodic Costs, Statement of Cost of Goods Sold, Income Statement
- Absorption Costing, Direct Costing, Normal Costing
- Job Order Costing System
- Process Costing
- Cost Methods-Standard Costing
- Joint Products and By-Products
- Cost Accounting Systems for Decision Making

Course Learning Outcomes

This course will provide to
1. Have information on basic concepts of cost accounting.
2. Describe and analyze cost accounting system of a company.
3. Identify how costs are recorded in accounting books and how costs are reported in financial statements.
4. Understand the techniques applied for cost calculation and develop cost reduction trategies.
5. Use cost information in decision-making processes and develop cost strategies.

References

* Maliyet Muhasebesi-Prof. Dr. Rüstem Hacırüstemoğlu
* Cost Accounting-Polimeni, Ralph S.; Fabozzi, Frank J.; Adelberg, Arthur H.
* Cost Accounting: A Managerial Emphasis- Charles T. Horngren, George Foster, Srikant M. Datar

Weekly Contents

Theory Topics
Week	Weekly Contents
1	Basic Concepts and Objectives of Cost Accounting
2	Manufacturing Costs- Direct Materials
3	Manufacturing Costs- Direct Labor
4	Manufacturing Costs- Factory Overhead
5	Manufacturing Costs- Factory Overhead
6	Calculating Total and Unit Costs
7	Cost Accounting Journals under Uniform Chart of Accounts
8	Periodic Costs, Statement of Cost of Goods Sold, Income Statement
9	Cost Methods-Absorption Costing, Direct Costing, Normal Costing
10	Cost Methods-Job Order Costing System
11	Cost Methods-Process Costing
12	Cost Methods-Standard Costing
13	Joint Products and By-Products
14	Cost Accounting Systems for Decision Making

Assessment System

Contribution to Overall Grade
Activities	Number	Contribution
Contribution of in-term studies to overall grade	1	60
Contribution of final exam to overall grade	1	40
Total	2	100

In-Term Studies
Activities	Number	Contribution
Assignments	2	10
Presentation	0	0
Midterm Examinations (including preparation)	1	30
Project	0	0
Laboratory	0	0
Other Applications	0	0
Quiz	1	20
Term Paper/ Project	0	0
Portfolio Study	0	0
Reports	0	0
Learning Diary	0	0
Thesis/ Project	0	0
Seminar	0	0
Other	0	0
Total	4	60

Relation of Proficiency

No	Program Learning Outcomes	Contribution
No	Program Learning Outcomes	1	2	3	4	5
1	Knowledge and understanding of a wide range of basic sciences (math, physics, ...) and the main concepts of engineering		X
2	Ability to combine the knowledge and skills to solve engineering problems and provide reliable solutions		X
3	Ability to select and apply methods of analysis and modeling to ask, reformulate and solve the complex problems of industrial engineering			X
4	Ability to conceptualize complex systems, processes or products under practical constraints to improve their performance, ability to use innovative methods of design			X
5	Ability to design, select and apply methods and tools needed to solve problems related to the practice of industrial engineering, ability to use computer technology		X
6	Ability to design experiments, collect and interpret data and analyze results		X
7	Ability to work independently, ability to participate in working groups and have a multidisciplinary team spirit			X
8	Ability to communicate effectively, ability to speak at least two foreign languages					X
9	Awareness of the need for continuous improvement of lifelong learning, ability to keep abreast of scientific and technological developments to use the tools of information management			X
10	Awareness of professional and ethical responsibility				X
11	Knowledge of the concepts of professional life as "project management", "risk management" and "management of change"
12	Knowledge on entrepreneurship, innovation and sustainability			X
13	Understanding of the effects of Industrial Engineering applications on global and social health, environment and safety.
14	Knowledge of the problems of contemporary society				X
15	Knowledge of the legal implications of the practice of industrial engineering

ECTS

Activities	Number	Period	Total Workload
Class Hours	14	2	28
Working Hours out of Class	10	1	10
Assignments	2	2	4
Midterm Examinations (including preparation)	1	5	5
Final Examinations (including preparation)	1	11.5	11.5
Total Workload			58.5
Total Workload / 25			2.34
Credits ECTS			2