Economics (English)
Bachelor TR-NQF-HE: Level 6 QF-EHEA: First Cycle EQF-LLL: Level 6

Course Introduction and Application Information

Course Code: ECO029
Course Name: Cost and Managerial Accounting
Semester: Spring
Course Credits:
ECTS
5
Language of instruction: English
Course Condition:
Does the Course Require Work Experience?: No
Type of course: Departmental Elective
Course Level:
Bachelor TR-NQF-HE:6. Master`s Degree QF-EHEA:First Cycle EQF-LLL:6. Master`s Degree
Mode of Delivery: Face to face
Course Coordinator: Dr. Öğr. Üy. KADRİ ÖZGÜNEŞ
Course Lecturer(s): Kadri Özgüneş
Course Assistants:

Course Objective and Content

Course Objectives: The objective of the course is to acquaint each student with the basic elements of Cost & Managerial Accounting with a focus on relevant information for business decision making.

Cost accounting is a process of recording, analyzing and reporting all of a company’s both variable and fixed costs related to the production of a product. By having accurate and well-designed cost accounting standards the management of the companies would be able to take better and well-measured business decisions.

Management accounting refers to accounting information developed for managers within an organization. In other words, management accounting is the process of identifying, measuring, accumulating, analyzing, preparing, interpreting, and communicating information that helps managers fulfill organizational objectives. 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. This course is designed to clearly present the basic concepts and techniques of management accounting.
Course Content: Preparing annual reports, accounting for merchandising and cost of goods sold, cost accounting systems, costing and the value chain, cost-volume-profit analysis, incremental analysis, responsibility accounting and transfer pricing, operational budgeting, standard cost systems, planning information systems and managerial control systems, using accounting information for decision making, techniques for estimating fixed and variable costs, budgeting process, bridging planning and control, cash budgeting, budgetary control and variance analysis.

Learning Outcomes

The students who have succeeded in this course;
1) Be familiar with basic accounting concepts
2) Detects and interprets critical steps and issues in accounting
3) Have a basic understanding and knowledge of how to identify critical issues in accounting and how to deal with them

Course Flow Plan

Week Subject Related Preparation
1) Introduction to Managerial Accounting
2) Management Accounting: Cost objects, direct costs, indirect costs and product costs. Product and period costs in financial statements.
3) Job Costing: Accounting for manufacturing overhead, accounting for finished goods, sales and COGS. Allocation of manufacturing overhead.
4) Process Costing: Conversion costs and equivalent units. Process costing for a second department. FIFO, LIFO and weighted average methods.
5) Cost-Volume-Profit Analysis: Variable, fixed and mixed costs. Contribution margin income statement. Breakeven analysis.
6) The Master Budget: Preparing the master budget.
7) The Master Budget: Preparing the master budget – Cont’d
8) Flexible Budgets and Standard Costs: The flexible budget and variance analysis. Standard costing.
9) Activity-Based Costing: Developing an activity-based costing system. Using activity-based costing for decision making.
10) National Holiday- 23 April National Sovereignty and Children's Day
11) Activity-Based Costing – Cont’d
12) Capital Investment Decisions
13) National Holiday -12-15 May Eid Ramadan
14) National Holiday -19 May Commemoration of Atatürk, and Youth and Sports Day
15) Fİnal

Sources

Course Notes / Textbooks: Horngree’s Accounting 12th edition, Pearson
References: Horngree’s Accounting 12th edition, Pearson

Course - Program Learning Outcome Relationship

Course Learning Outcomes

1

2

3
Program Outcomes
1) They have a broad and interdisciplinary perspective on economics using other social sciences and mathematics. 2 2 2
2) They have knowledge and skill about different functions and interactions of economy. 2 2 2
3) They use different theoretical approaches to comprehend and solve various economic problems. 2 2 2
4) They are aware of the needs of society and use their knowledge of economics to meet these needs. 2 2 2
5) They have in-depth knowledge on the current issues of the Turkish economy and the global economy. 2 2 2
6) They have in-depth knowledge on the history of the Turkish economy and basic level knowledge on the history of the global economy. 2 2 2
7) Using various statistical techniques and numerical methods, they establish correct economic models and make analyzes by using statistical programs effectively. 2 2 2
8) They use a foreign language at least at the B1 General Level in terms of European Language Portfolio criteria according to the level of education. 2 2 2
9) They improve their skills of teamwork, negotiation, leadership and entrepreneurship. 2 2 2
10) They have universal ethical values, social responsibility awareness and adequate knowledge of business law. 2 2 2
11) Being able to develop positive attitudes with regards to lifelong learning, they identify their individual learning needs and carry out studies to fulfil them. 2 2 2
12) They express their ideas and solution proposals concerning their field both written and orally, and present and publish them on both national and international platforms. 2 2 2
13) They use information and communication technologies together with a computer software required by the field at least at advanced level of European Computer Driving License . 2 2 2

Course - Learning Outcome Relationship

No Effect 1 Lowest 2 Average 3 Highest
       
Program Outcomes Level of Contribution
1) They have a broad and interdisciplinary perspective on economics using other social sciences and mathematics. 2
2) They have knowledge and skill about different functions and interactions of economy. 2
3) They use different theoretical approaches to comprehend and solve various economic problems. 2
4) They are aware of the needs of society and use their knowledge of economics to meet these needs. 2
5) They have in-depth knowledge on the current issues of the Turkish economy and the global economy. 2
6) They have in-depth knowledge on the history of the Turkish economy and basic level knowledge on the history of the global economy. 2
7) Using various statistical techniques and numerical methods, they establish correct economic models and make analyzes by using statistical programs effectively. 2
8) They use a foreign language at least at the B1 General Level in terms of European Language Portfolio criteria according to the level of education. 2
9) They improve their skills of teamwork, negotiation, leadership and entrepreneurship. 2
10) They have universal ethical values, social responsibility awareness and adequate knowledge of business law. 2
11) Being able to develop positive attitudes with regards to lifelong learning, they identify their individual learning needs and carry out studies to fulfil them. 2
12) They express their ideas and solution proposals concerning their field both written and orally, and present and publish them on both national and international platforms. 2
13) They use information and communication technologies together with a computer software required by the field at least at advanced level of European Computer Driving License . 2

Assessment & Grading

Semester Requirements Number of Activities Level of Contribution
Attendance 14 % 10
Quizzes 4 % 20
Midterms 1 % 30
Final 1 % 40
total % 100
PERCENTAGE OF SEMESTER WORK % 60
PERCENTAGE OF FINAL WORK % 40
total % 100

Workload and ECTS Credit Calculation

Activities Number of Activities Preparation for the Activity Spent for the Activity Itself Completing the Activity Requirements Workload
Course Hours 14 1 2 42
Application 14 1 2 42
Study Hours Out of Class 14 0 1 14
Presentations / Seminar 1 5 1 6
Quizzes 4 2 1 12
Midterms 1 15 1 16
Final 1 20 1 21
Total Workload 153