BROKENSHIRE COLLEGE SOCSKSARGEN, INC.

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ACCTG 5 (Cost Concept and Principles)

1st SEMESTER SY 2020-2021
Course Outline

TOPICS READING
MATERIALS
PRELIM
Week 1 1. Overview of cost accounting. Cost accounting
(August 4-7,2010)  Definition, scope, objectives of cost and control. 2019
accounting. By: CONRADO DE
 Relationships of cost accounting to LEON.
financial and management accounting.
 Nature, classification and purposes of cost.
 Elements of product cost, flow of cost in
service, trading and manufacturing
business.

Week 2 2. The cost and management accounting Cost accounting

(August 10- framework (Part 1) and control. 2019
14,2010)  Cost and management accounting in By: CONRADO DE
comparison with financial accounting. LEON.
 Cost classification concepts and
terminology.
 The use of linear, curvilinear and step
functions.
Week 3 3. The cost and management accounting Cost accounting
(August 17-21, framework (Part 1) and control. 2019
2010)  The concepts of cost units, cost centers, By: CONRADO DE
and profit centers. LEON.
  Journal entries for manufacturing
operations.
 Preparation of cost statements, income
statements and balance sheet.
Week 4 4. Cost determination: the costing of resource Cost accounting
(August 24-28, inputs and control. 2019
2010)  Materials By: CONRADO DE
 Labor LEON.

 Overhead
MIDTERM
Week 1 5. Materials costing and control Cost accounting
(September 7-11,  Costing based on physical flow. and control. 2019
2010)  Traditional control procedures By: CONRADO DE

 Alternative stock/inventory management LEON.

system, total quality management, just in

time.
Week 2 6. Materials costing and control Cost accounting
(September 14-18,  Accounting control of waste, scrap, spoiled and control. 2019
2010) and defective materials and goods. By: CONRADO DE
 Cost reduction techniques. LEON.
Week 3 7. Labor costing and control Cost accounting
(September 21-25,  Documents and their flow in labor costing and control. 2019
2010) and control. By: CONRADO DE
 Payroll preparation and distribution. LEON.
 Labor-related costs.
Week 4 8. Overhead costing and control. Cost accounting
(September 28-  Selection of activity base/level and control. 2019
October 2, 2010)  Plant-wide vs. multiple overhead rates. By: CONRADO DE

 Separating variable from fixed in mixed LEON.

costs.
 Allocating of service department cost.
PRE-FINAL
Week 1 9. Costing method: the costing of resource Cost accounting
(October 12-16, outputs. and control. 2019
2020)  Job order cost system By: CONRADO DE
  Process cost system LEON.
 Batch and contract costing methods
 Operation or service costing
Week 2 10. Joint and by-product costing Cost accounting
(October 19-23,  Definition and characteristics of joint and and control. 2019
2020) by-product. By: CONRADO DE
 Methods of allocating joint cost to joint LEON.
products.
 Management decisions regarding joint
process.
 Accounting for by-products and scrap.
 Journal entries for cost flow and
preparation of cost of goods manufactured
and sold and income statement.
Week 3 11. Standard costing Cost accounting
(October 26-30,  Definition and objectives of standard and control. 2019
2020) costing. By: CONRADO DE
 Uses and limitations of standard costing. LEON.
 Determination and setting up of standards.
 Variance analysis
Week 4 12. Journal entries and preparation of cost of Cost accounting
(November 3-6, goods manufactured and sold for typical firm using and control. 2019
2020) standard cost By: CONRADO DE
 how variances are recorded and disposed LEON.
of.
FINAL
Week 1 13. Cost management Cost accounting
(November 23-27,  Activity based costing: use of cost drivers and control. 2019
2020) and activities. By: CONRADO DE
 Target costing LEON.
 Total quality management
Week 2 14. Cost management Cost accounting
(November 30-  Value reengineering and control. 2019
December 4,  Theory of constraints By: CONRADO DE
2020)  Life-cycle costing LEON.
 Week 3 15. Environment cost management Cost accounting
(December 7-11, and control. 2019
2020) By: CONRADO DE
LEON.
Week 4 Comprehensive and Application Problems Practical
(December 14-18, Accounting 2
2020) Reviewers

Prepared by:

ZOE REGINA CASTRO, CPA, MBM