Office hours: 11:00-13:00, Tuesday and 12:00-14:00, Thursday and by appointment

E-mail: agimmamuti@unyt.edu.al

COURSE DESCRIPTION

The course presents the theory, procedures and practice relating to product costs, including job order, activity based costing, process and standard cost systems. It also includes analytical skills used to interpret accounting data used by management in planning and controlling business activities. Throughout the course, there is special emphasis on the use of cost information in managerial decisions and its application to various industrial and service settings.

 

Learning Objectives:

This course covers accounting for manufacturing cost procedures and concerns including job-order and process cost systems; managerial and cost reports; budgeting and standard costing; planning and control; cost-volume-profit analysis; cost estimations; and product costing and pricing. Managerial emphasis is stressed throughout the course. The objective of this course is to allow students to understand fundamentals of cost accounting needed for a business or professional accounting career. It provides students with a solid understanding of the principles of cost accounting, and involves both formal cost accounting principles and practical application in a business context.

 

Learning Outcomes:

At the end of the course, students should be able to:

  • Interpret cost concepts including: direct and indirect costs; cost drivers; cost behavior; cost flow through accounts, income statements, and cost of goods manufactured and sold statements.
  • Prepare a detailed description of activity-based costing.
  • Describe the basic characteristics and cost flows of a job-order system and process systems and differentiate between the two systems.
  • Define the key budget components and prepare an operations budget and cash budget.
  • Evaluate overhead accounting and compute overhead variances.
  • Identify and describe variable costing from absorption costing.
  • Differentiate throughput costing from variable costing and absorption costing and evaluate inventory capacity.
  • Describe and evaluate various methods of cost estimation.
  • Distinguish relevant from irrelevant costs.

 

Required Reading Material:

Vanderbeck, Edward J., Principles of Cost Accounting, 15th Edition, Cengage Learning

 

Additional readings:

Horngren, Datar, and Rajan, Cost Accounting: A Managerial Emphasis”, 14th Edition, Prentice Hall, 2012

Roby B. Sawyers; Steve Jackson; Greg Jenkins, Managerial ACCT2, 2nd Edition, Cengage Learning

Drury, Colin, Management and Cost Accounting, 8th Edition, Cengage Learning, 2012

Other materials will be given during the course

 

Class schedule:

Session Date Chapters: Please read before coming to class the following assigned chapters. Assignment to be Submitted for Grading in the following Session
1 10/15 Ch1. Introduction to Cost Accounting Syllabus Presentation
2 10/22 Ch2. Accounting for Materials Presentation and Discussion

Assign#1

3 10/29 Ch3. Accounting for Labor Presentation and Discussion

Assign#2

4 11/05 Ch4. Accounting for Factory Overhead Presentation and Discussion

Assign#3

5 11/12 Ch5. Process Cost Accounting – General Procedures Presentation and Discussion

Quiz 1

6 11/19 Review Presentation and Discussion
7 11/26 Mid-term Exam  
8 12/03 Ch6. Accounting for Joint Products and By-Products Presentation and Discussion
9 12/10 Ch7. The Master Budget and Flexible Budgeting Presentation and Discussion

Assign#4

10 12/17 Ch8. Standard Cost Accounting — Materials, Labor, and Factory Overhead Presentation and Discussion

Assign#5

Makeup#8 23.12.2015 (Wed) – 04.01.2016 (Mon.) Christmas recess
11 01/07/2016 Ch9. Cost Accounting for Service Businesses and the Balanced Scorecard Presentation and Discussion
12 01/14 Ch10. Cost Analysis for Management Decision Making Presentation and Discussion
13 01/21 General Review Presentation and Discussion

Quiz 2

14 01/28 Review and Presentations Presentation and Discussion
15 02/04 Final exam  

* The instructor reserves the right to make appropriate alternation of the above tentative schedule

Course Requirements

Attendance is mandatory.

If a student is absent for more than 20% of the course (i.e. 9 hours) then a grade of “F” will automatically be awarded. An excused absence must be discussed with the instructor before (when possible) the lecture session to be missed, or immediately upon the student’s return to the following class session.

The class lecture sessions are an integral part of the student’s learning experience and are essential for the students to obtain a mastery of the course material.

Active Participation in class and Assignment are an integral part of the grading system.

Students are advised to read the assigned Chapter before coming to the class. During each class students will be asked to comment on the relevant case studies related to that chapter. The assignments should be submitted within the deadline assigned by the instructor. No late assignment will be accepted unless rare instances in which case no full grade will be granted.

There are no make-up or grade –improvement projects available in this class. It is necessary that you take both exams in order to receive a grade in this course. In no case, will a make-up exam be given prior to exam days, and only in very rare instances, will a make-up exam will be allowed after a mid-term exam. There will be no make-up exam for the Final Exam.

Appropriate class participations

At a beginning of each class students will be asked to discuss and comment on the relevant articles related to financial statement analysis and accounting. The evaluation of articles discussion will go toward the appropriate class participations.

Homework and quizzes

You will be assigned homework throughout the semester to further enhance your learning. The Homework will come from the questions that I will send you after each class. You will be graded on having the homework completed and turned in on time. Homework should be submitted on the day indicated in the schedule. Late homework will not receive credit unless arrangements are made. Answers should be individual.

In class quizzes will occur in certain class session, starting from the second week of the semester. They will be based on the textbook chapter covered on the prior classes. Quizzes will usually occur at the beginning of class.

Group Project

There will be a Group Project / Presentation in this course that students are expected to complete through –out the course. Students will be divided in Groups of 2.

Grading:

Your grade will be based on the following:

  1. Appropriate class participation                                                            5%
  2. Homework assignment                                                                                                 5%
  3. Project / Presentation 10%
  4. Quizzes x 2 20%
  5. Mid-term exam 30%
  6. Final Exam 30%

Total Points:                                                                                                                                                          100%

 

Grading Scale will be determined as follows:

 

Letter Grade Percent (%) Generally Accepted Meaning
A 96-100 Outstanding work
A- 90-95
B+ 87-89 Good work, distinctly above average
B 83-86
B- 80-82
C+ 77-79 Acceptable work
C 73-76  
C- 70-72
D+ 67-69 Work that is significantly below average
D 63-66
D- 60-62
F 0-59 Work that does not meet the minimum standards for passing the course

 

 

General Policies:

  1. Regular attendance is expected.  If there is an urgent reason to be absent, please email the instructor in advance. A student may not enter an examination without having justified all of his/her absences.
  2. Assignments will be collected at the beginning of the class session.  There will be a 10% daily deduction for late assignments (up to 2 days only, thereafter no grade will be given) unless you make special arrangements with the instructor in advance via email communications.
  3. Any violation of academic honesty principles, e.g. plagiarism, will result in an automatic F on the course, in line with UNYT’s Honour Code policies.
  4. Make-up exams will be given only in the case of a confirmed medical excuse.  If possible, please advise the instructor in advance by email.

 

Outside Support:  As a service to its students UNYT has created a series of support centers. For support related to study skills and time management, the Academic Support Center offers students tutoring and coaching. The Writing Center gives students feedback and help with papers and other writing assignments. If you feel that you have any exceptional learning difficulties or serious problems that interfere with your studies, you can stop by the UNYT Counseling Center. For information on any of these centers, please contact Dr. Enila Cenko, your academic advisor or me.

 

Technology Expectations

Assignments are to be excel, word-processed and power point. Continuing and regular use of e-mail is expected.

 

 

Faculty: Business &Economics.

Department: Economics.

Grade: Undergraduate.

Majors: Business.

Study Fileds: Accounting, Economics, and Finance.

Course Year: 2.

Course Program: UNYT.

Scheduele: THU 09:00-12:00

Instructor: Agim Mamuti, Assoc.Prof.Dr.

Credits: 3

Prerequisite: Managerial Accounting