Course Name : Cost and Managerial Accounting

Degree: Bachelor

Code

Year/Semester

Local Credits

ECTS Credits

Course Implementation, Hours/Week

Course

Tutorial

Laboratory

ULT 223

3/6 (SPRING)

3

6

3

-

Department

International Logistics and Transportation

Instructors

Inst.Dr. Seda PEREK

Contact Information

e-mail: sperek@pirireis.edu.tr

Office Hours

Wednesday 10:00 – 12:00

Web page

Course Type

 Compulsory

Course Language

English

Course Prerequisites

Course Category by Content, %

Basic Sciences

Engineering Science

Engineering Design

Humanities

90

---

---

10

Course Description

This course is essentially a continuation of the Introduction to Accounting course from the previous Semester. Cost and managerial accounting refers to accounting information developed for managers within an organization. In other words, managerial accounting in general is the process of identifying, measuring, accumulating, analyzing, preparing, interpreting, and communicating information that helps managers fulfill organizational objectives, including the cost information. The management makes use of all related accounting information for decision making purposes. Decision making is the purposeful choice from among a set of alternative courses of action designed to achieve the objectives and is the core of the management process. The content of this course is primarily for students who have had one or two terms of basic accounting.

Course Objectives

1. To enable students to understand and make use of financial statements with a managerial perspective.
2. To acquaint each student with the basic elements of Cost and Managerial Accounting with a focus on relevant information for business decision making using internal information.
3. To enable students to understand foundational knowledge of planning and controlling with a focus on the future.

Course Learning Outcomes

Students who successfully pass ULT 223:

1. Will be able to account for stockholders’ equity transactions of corporations.
2. Will be able to conduct financial statement analysis and interpret the results.
3. Will internalize fundamental concepts of cost accounting.
4. Will be able to select the appropriate methodology and apply job order costing or process costing.
5. Will be able to conduct Cost-Volume-Profit analysis.
6. Will internalize the rules for short-term business decision making.
7. Will have a knowledge of time value of money and learn to apply capital investment decision techniques.
8. Will be able to prepare the master budget of a corporation.
9. Will have a knowledge of standard costs and flexible budgets.

Instructional Methods and Techniques

The presentation of theory and the computational techniques

Tutorial Place

Class

Co-term Condition

-

Textbook

NOBLES, MATTISON, MATSUMURA “Horngren’s Accounting” 10^th edition, Prentice Hall, Inc.

Other References

Course notes and exercise handouts are shared with students through either printed handouts or emails.

Homework & Projects

Students are required to solve the managerial problems presented in handouts that are not solved during the class.

Laboratory Work

---

Computer Use

---

Other Activities

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Assessment Criteria

Activities

Quantity

Effects on Grading, %

Attendance

Midterm

1

45

Quiz

Homework

Term Paper/Project

Laboratory Work

Practices

Tutorial

Seminar

Presentation

Field Study

Final Exam

1

55

TOTAL

100

Effects of Midterm on Grading, %

45

Effects of Final on Grading, %

55

TOTAL

100

ECTS/

WORKLOAD TABLE

Activities

Count

Hours

Total

Workload

Lecture

12

3

36

Midterm

1

50

50

Quiz

Homework

Term Paper/Project

Laboratory Work

Practices

Tutorial

Seminar

Presentation

Field Study

Final Exam

1

64

64

Total Workload

150

Total Workload/25

150/25

Course ECTS Credits

6

Week

Topics

Course Outcomes

1

Introductions, Syllabus & Class Expectations,

Chapter 13 Corporations: Paid in Capital and the Balance Sheet: Stockholder’s equity and issuing common stock. Accounting for dividends.

I

2

Chapter 13 Corporations: Retained Earnings and the Income Statement: R/E, stock dividends and stock splits. Treasury stock transactions.

I

3

Chapter 17 Financial Statement Analysis: Horizontal analysis, vertical analysis, common-size statements and benchmarking. Financial ratio analysis.

II

4

Chapter 18 Introduction to Management Accounting: Cost objects, direct costs, indirect costs and product costs. Product and period costs in financial statements.

III

5

Chapter 19 Job Order Costing: Accounting for manufacturing overhead, accounting for finished goods, sales and COGS. Allocation of manufacturing overhead. Three types of inventory: materials, work in process and finished goods.

III, IV

6

Chapter 20 Process Costing: Conversion costs and equivalent units. Process costing for a second department. The FIFO and weighted average methods.

III, IV

7

MID-TERM EXAM

8

Chapter 24 Activity-Based Costing: Developing an activity-based costing system. Using activity-based costing for decision making.

III, IV

9

Chapter 21 Cost-Volume-Profit Analysis: Variable, fixed and mixed costs. Contribution margin income statement. Breakeven analysis. Variable costing and absorption costing.

V

10

Chapter 25 Short Term Business Decisions

VI

11

Chapter 26 Capital Investment Decisions and Time Value of Money

VII

12

Chapter 22 The Master Budget: Preparing the master budget.

VIII

13

Chapter 23 Flexible Budgets and Standard Costs: The flexible budget and variance analysis. Standard costing. Accounting for standard costs.

IX

14

General Review

III-IX

Program Outcomes

Level of Contribution

1

2

3

a

To have advanced knowledge in related fields.

X

b

Able to work effectively with multidisciplinary teams  in theoretical and applied scope. 

X

c

Able to identify, define, formulate and solve problems with theoretical and applied knowledge.

X

d

Able to communicate oral and written effectively with stakeholders, and can use a foreign language minimum B1 level in European Language Portfolio.

X

e

To have advanced competence on general information technologies.

X

f

To have knowledge about  principles, policies, and legislations.

X

g

To have knowledge about corporate governance, legal framework, business practices and environmental effects with professional and ethical responsibility

X

h

Able to access information by searching text, visual and digital resources, and be able to use these information for interpreting and analysing data, identifying problems, and offering solutions.

X

i

Able to use theoretical and practical knowledge that learned from companies with business management techniques.

X

j

Able to develop project  and can take responsibility and act as coordinator or participant as an individual or group member in accordance with project goals.

 X

                    OBJECTIVES   ─ ►                                   

To enable students to understand and make use of financial statements with a managerial perspective.

To acquaint each student with the basic elements of Cost and Managerial Accounting with a focus on relevant information for business decision making using internal information.

To enable students with the foundational knowledge of planning and controlling with a focus on the future.

OUTCOMES ┐

                      ▼

To have advanced knowledge in related fields

X

X

X

Able to work effectively with multidisciplinary teams or individually  in theoretical and applied scope. 

X

X

Able to identify, define, formulate and solve problems with theoretical and applied  knowledge.

X

Able to communicate oral and written effectively with stakeholders, and can use a foreign language minimum B1 level in European Language Portfolio.

 X

To have advanced competence on general, information technologies.

X

To have knowledge about principles, policies, and legislations.

 X

To have knowledge about corporate governance, legal framework, business practices and environmental effects with professional and ethical responsibility

X

X

Able to access information by searching text, visual and digital resources, and be able to use these information for interpreting and analysing data, identifying problems, and offering solutions.

X

Able to use theoretical and practical knowledge that learned from companies with business management techniques.

X

X

Able to develop project  and can take responsibility and act as coordinator or participant as an individual or group member in accordance with project goals.

X

Prepared by

Inst. Dr. Seda PEREK

Date

19.07.2019

Signature