COURSE INFORMATION Course Title: COST ACCOUNTING

Code	Course Type	Regular Semester	Theory	Practice	Lab	Credits	ECTS
BUS 331	B	5	3	0	0	3	5

Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature)	NA
Main Course Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	M.Sc. Sidita Mema sreshketa12@epoka.edu.al , Monday 10:00-12:00
Second Course Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	NA
Teaching Assistant(s) and Office Hours:	NA
Language:	English
Compulsory/Elective:	Elective
Study program: (the study for which this course is offered)	Bachelor in Banking and Finance (3 years)
Classroom and Meeting Time:	E213 / FRIDAY 08:45 - 11:30
Code of Ethics:	Code of Ethics of EPOKA University Regulation of EPOKA University "On Student Discipline"
Attendance Requirement:	yes
Course Description:	Cost Accounting Course is designed to provide an overview of cost concepts and cost calculation methods in contemporary organizations. This course will focus on how costs behave, what relevancy is and how the accurate and timely cost information can be created. While financial accounting provides information for external users, cost accounting provides information for both external and internal users. Cost Accounting will address the usage of cost information which is used for product costing, planning and control processes .
Course Objectives:	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.

BASIC CONCEPTS OF THE COURSE

1	Cost Accounting
2	Job Costing
3	Process Costing
4	Activity Based Costing
5	Activity Based Management
6	Cost-Volume-Profit Analysis

COURSE OUTLINE

Week	Topics
1	Cost Accounting: Information for Decision Making. Describe the way managers use accounting information to create value in organizations. Distinguish between the uses and users of cost accounting and financial accounting information. Explain how cost accounting information is used for decision making and performance evaluation in organizations. Identify current trends in cost accounting. (Chapter 1: 1-37 pg))
2	Cost Concepts and Behavior. This chapter will explain ; how costs are presented in financial statements, the process of cost allocation, material, labor, and overhead costs and the way they are added to a product at each stage of the production process, and also it will identify the components of a product’s costs. (Chapter 2; 38-83 pg)
3	Fundamentals of Cost-Volume- Profit Analysis. This chapter will teach the students the fundamentals of CVP analysis through graphic presentation model and profit-volume model. Also the use of CVP to analyze the effect of different costs structures in the decision process. (Chapter 3- pg 84-113 pg)
4	Fundamentals of Product and Service Costing. This chapter will teach the students the cost management systems and the reasons to calculate product or service cost , cost flow diagram, cost allocation and product costing, basic cost flow models , costing in single product or multiple product. (Chapter 6, 207-235 page)
5	Job Costing. This chapter will define what a job is and computing the cost of a Job. It will later on proceed with manufacturing overhead costs and the way how they are recorded. Lastly the chapter will focus on Job costing in service organizations and the ethical issues that arise with job costing such as ; misstating stage of completion, charging cost to a wrong job and misrepresenting the cost of jobs. (Chapter 7 , 237-279 page)
6	Process Costing. This chapter will first determine the equivalent units and later on proceed with the usage of product costing in process industry and the way how this information is reported to managers. This chapter will make an overview of the assigning costs method such as FIFO and LIFO in process costing and defining which one of them is a best. Lastly this chapter will focus on a detailed comparison between process costing and job costing
7	Activity Based Costing. This chapter will first explain what activity-based costing it through a business application and then proceeding with the two-stage cost allocation and cost hierarchies. Later on the chapter will focus on illustrating the activity based costing and the way how cost flows through the accounts. (Chapter 9 340-369 page)
8	Review Before Midterm Exam
9	Midterm Exam
10	Activity Based Cost Management. This chapter will explain the fundamentals of activity based cost management and the way how it is used in order to add value. The chapter later will continue with teaching the ways how to manage the cost of costumers and suppliers, cost of capacity and quality. (Chapter 10 370-390 page)
11	Capital Budgeting, This chapter will focus on planning and budgeting. How strategic planning increases competitiveness and what is the overall plan in terms of the organization goals, strategic long-range profit plan, what is the value of the employee participation, direct labor and overhead costs and completing the budgeted cost of goods sold and pulling it together into the income statement. (Chapter 13 488-520 page
12	Business Unit Performance Measurement. This chapter will focus on computing the divisional income and considering the advantages and disadvantages of it. Also will introduce, Return on Investment, Residual Income measures and Economic value added (EVA) as a performance measure for control. (Chapter 14 530-550 page)
13	Presentation of the Projects
14	Review before Final Exam

Prerequisite(s):	NA
Textbook(s):	Fundamentals of Cost Accounting, 6th Edition, 2020, By William Lanen and Shannon Anderson and Michael Maher Financial and Managerial Accounting , 18th Edition, 2021, By Jan Williams and Mark Bettner and Joseph Carcello
Additional Literature:	Introduction to Managerial Accounting, 8th Edition, 2019, By Peter Brewer and Ray Garrison and Eric Noreen, McGraw-Hill Irvin Managerial Accounting, 17th Edition, 2021, By Ray Garrison and Eric Noreen and Peter Brewer
Laboratory Work:	NA
Computer Usage:	yes
Others:	No

COURSE LEARNING OUTCOMES

1	Describe cost accounting and its relationship to managerial and financial accounting.
2	Analyze, record and report transactions for manufacturing businesses.
3	Demonstrate the ability to use cost information to support operating decisions and strategic decisions regarding products, customers and technology.
4	Solve business problems using information provided by cost and managerial accounting.
5	Summarize and apply financial, cost, and managerial accounting terms, concepts, and principles.

COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES (Blank : no contribution, 1: least contribution ... 5: highest contribution)

No	Program Competencies	Cont.
Bachelor in Banking and Finance (3 years) Program
1	The students gain the ability to look at the problems of daily life from a broader perspective with an increased awareness of the importance of moral/ethical considerations and professional integrity in the workplace.	3
2	They develop their knowledge and understanding of banking and finance including concepts, theories, and analytical tools that serve both in national and international markets.	3
3	They gain an understanding of the role of financial management in business firms and the essentials of corporate finance and further develop their knowledge in the field.	3
4	They are able to apply valuation models to estimate the price of different financial assets, measure risk and describe the risk-return tradeoff.	2
5	They are provided with the knowledge and understanding of the regulatory framework and functioning of banking system and central banking as well as international banking system.	1
6	They are able to understand and use fundamental economic theories and tools to solve economic problems in banking and financial services industry.	3
7	They have the ability to develop and utilize accounting, financial and economic data as well as other information to solve different business problems by making use of basic mathematical and statistical models.	3
8	They are expected to develop their numerical and IT skills as well as knowledge of databases in order to address the significant development in the delivery and use of financial services known as FinTech.	1
9	They develop their ability to think critically, do research, analyze, interpret, draw independent conclusions, and communicate effectively, both individually and as part of a team.	4
10	They are provided with opportunities to acquire the necessary skills and competencies to develop professionalism in the banking and financial services industry or to move on to further study within the discipline.	2

COURSE EVALUATION METHOD

Method	Quantity	Percentage
Midterm Exam(s)	1	30
Presentation	1	10
Project	1	10
Final Exam	1	50
Other	1
	Total Percent:	100%

ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)

Activities	Quantity	Duration(Hours)	Total Workload(Hours)
Course Duration (Including the exam week: 16x Total course hours)	16	3	48
Hours for off-the-classroom study (Pre-study, practice)	16	3	48
Mid-terms	1	9	9
Assignments			0
Final examination	1	10	10
Other	1	10	10
Total Work Load:			125
Total Work Load/25(h):			5
ECTS Credit of the Course:			5

CONCLUDING REMARKS BY THE COURSE LECTURER