RIZAL TECHNOLOGICAL UNIVERSITY

Boni Avenue, Mandaluyong City

College of Business & Entrepreneurial Technology

COURSE SYLLABUS AND PLAN

SUBJECT TITLE : COST ACCOUNTING AND COST MANAGEMENT
SUBJECT CODE : AC12&13
SUBJECT CREDIT : 6 UNIT HOURS
PRE-REQUISITE : AC9
PROFESSOR : MACRINA VIOLETA V. VICENTE-MUTUC

UNIVERSITY COLLEGE
PHILOSOPHY MISSION
The Rizal Technological University believes in nurturing the creative potentials The College of Business and Entrepreneurial Technology (CBET) professes to
of Filipinos to excel in a dynamic world order and advocates commitment to develop well rounded graduates of business and related courses aligned to the
global peace and sustainable development along with sense of moral demands of local and global industries
responsibilities and cultural patronage.
MISSION VISION
To prepare students create their future in a knowledge driven and culturally Quality graduates attuned to the changing socio-economic demands, practicing
diverse society. ethical standards and fairness in the world of business
VISION GOALS
A prominent University recognized for its commitment to innovative programs in 1. To produce business professionals and entrepreneurs with skills, knowledge,
addressing society’s challenges. abilities, and work attitudes ready for the challenges of the competitive business
world.
2. To prepare young men and women in the field of business and industry, making
them aware of their worthwhile contributions to the economy and society as well
as their ethical and social responsibilities

Accounting Department Objectives

1. Mold competent business professionals aware of making positive contributions to the economy and the society.
2. Prepare men and women to stir business and industry, aware of their ethical and social responsibilities.
3. Produce entrepreneurs and professionals armed with skills, knowledge, abilities and work attitudes ready to face the challenges of a competitive
business environment.
4. Stimulate and provide learning experiences to students through the interaction of the industry and the cooperative education scheme.
5. Adopt selective admission and retention measures to ensure quality education for students.
Subject Description Course Objectives
This subject prepares the student for the board examination subject: At the end of the semester, the students is expected to-
Practical Accounting 2 and MAS. It is designed to orient the students to 1. Account for the different types of costs according to the type of business.
the cost accounting and cost management framework of business. 2. Account, measure and report costs using the job order, just in time, activity
Topics discussed are: overview of cost accounting; manufacturing cost based costing, and process costing methods/systems in cost accumulation
accounting cycle; cost methods; job and process cost systems; applying PAS 2 on INVENTORIES, cost accounting standards and other
accounting, planning, and control for materials, labor, and overhead; applicable accounting standards.
accounting for joint and by-product costs; and cost management 3. Prepare cost of production report for the different cost accumulation methods
systems for new manufacturing environment such as activity-based and the income statement for manufacturing type of businesses.
costing, target costing, total quality management, value reengineering, 4. Present findings that will show the application of all cost accounting and cost
and theory of constraints. Also discussed is the impact of management concepts in helping decisions makers deal with cost efficiency
environmental concerns on costs. and effectiveness issues.

DATE Enrichment
MON/TUES/WED Topics Activities Evaluation
Session 1  COURSE ORIENTATION:  Discussion  Registration and official
(M-11/14) - RTU Philosophy, mission and vision  Illustrations receipt checking
(T-11/15) - CBET mission, vision and objectives   Project plan tentative
(W-11/16) - Syllabus overview and orientation schedule-flowchart
- Subject requirements, grading system, expectations and commitment to learning,  See summary on last page.
prescribed textbook
Session 2  Key Terms Research for Chapter 1, 2,  Practice Set#1:  Handwritten output
(H-11/17) Library Work following verbal instruction.
(F-11/18)
(W-11/16)
Session 2  Client searching and documentation  Field Work and  Signed letter and contract
(M-11/21)  Key terms for Chapter 4 & 5  Practice Set #2:  Handwritten output
(T-11/22) Library work complying with written
(W-11/23) instructions
Session 3
(H-11/24)

COURSE SYLLABUS AND PLAN FOR AC12&13 SEM02 SY1516 Page 1 of 4

(F-11/25)
(W-11/23)
Session 4  DIAGNOSTIC EXAM:  Long Quiz  1 hour quiz
(M-11/28) - Merchandising and Manufacturing multiple step income statement  Practice Set #3  Hand written output on WS
(T-11/29) - Closing entries with good form referenece
(W-11/23)
Session 5 CHAPTER 1: Management, the controller, and cost accounting  Discussion of  Chapter overview short
(H-12/01) concepts, quiz through: I.D.,
1.1. Definition, scope, objectives of cost accounting
(F-12/03) standards and enumeration, definition,
(W-12/07)
1.2. Relationships of cost accounting to financial and management
laws computation
accounting  Chapter overview  Group output
1.3. Nature, classification and purpose of cost short quiz  See summary on last page.
1.4. Elements of product cost, flow of cost in service, trading and  Practice set
manufacturing businesses  Seat/Group work
CHAPTER 2: Cost terminology and cost behavior
2.1. Association with cost object
2.2. Reaction to changes in activity
2.3. Classification on the financial statements
2.4. The conversion process
2.5. Components of product cost
2.6. Accumulation and allocation of overhead
2.7. Cost of goods manufactured and sold
Session 6 CHAPTER 4: Materials: controlling, costing and planning  Discussion of  Chapter overview short
(M-12/05) concepts, quiz through: I.D.,
4.1. Materials procurement and use
(T-12/06) standards and enumeration, definition,
(W-12/07)
4.2. Quantitative models
laws computation
4.3. Materials control  Chapter overview  Group output
Session 7 4.4. Inventory costing methods short quiz  See summary on last page.
(W-12/07) CHAPTER 5: Inventory and production management  Practice set
(H-12/08) 5.1. Important relationships in the value chain  Seat/Group work
(F-12/09)
5.2. Buying or producing and carrying inventory
5.3. Inventory and production management philosophies
5.4. Understanding and managing production activities and costs
5.5. Just in time systems
5.6. Changes needed to implement JIT manufacturing
5.7. Logistics of JIT environment
5.8. Theory of constraints
5.9. Economic order quantity and related issues
5.10. Order point and safety stock
5.11. Pareto inventory analysis
Session 8 CHAPTER 1(insert): Labor costing and control  Discussion of  Chapter overview short
(M-12/12) concepts, quiz through: I.D.,
1.1. Labor cost and control
(T-12/13) standards and enumeration, definition,
(W-12/14)
1.2. Accounting for labor cost
laws computation
Session 9 1.3. Forms used in controlling labor cost  Practice set  Group output
(H-12/16)  Seat/Group work  See summary on last page.
(F-12/15)  Concept mapping
Session 10 CHAPTER 3: Pre-determined overhead rates, flexible budgets, and  Discussion of  Chapter overview short
(W-01/04/17) concepts, quiz through: I.D.,
absorption/variable costing
(H-01/05/17) standards and enumeration, definition,
(F-01/06/17)
3.1. Normal costing and predetermined overhead
laws computation
3.2. Applying overhead to production  Chapter overview  Group output
3.3. Alternative capacity measures short quiz  See summary on last page.
3.4. High-low method  Practice set
3.5. Flexible budgets  Seat/Group work
3.6. Overview of absorption and variable costing
3.7. Comparison of the two approaches
Session 11 CHAPTER 6: Factory overhead: departmentalization  Discussion of  Chapter overview short
(W-01/04/17) concepts, quiz through: I.D.,
7.1. Departmentalization
(M-01/09/17) standards and enumeration, definition,
(T-01/10/17)
7.2. Direct departmental cost
laws computation
Session 12 7.3. Indirect departmental cost  Chapter overview  Group output
(H-01/12/17) 7.4. Establishing departmental overhead rates short quiz  See summary on last page.
(F-01/13/17) 7.5. Overhead departmentalization in non-manufacturing businesses and  Practice set
not-for-profit organizations  Seat/Group work

COURSE SYLLABUS AND PLAN FOR AC12&13 SEM02 SY1617 Page 2 of 4

Session 12 CHAPTER 7: Job order costing  Discussion of  Chapter overview short
(W-01/11/17) concepts, quiz through: I.D.,
7.1. Methods of product costing
Session 13 standards and enumeration, definition,
(W-01/11/17)
7.2. Job order costing system
laws computation
(M-01/16/17) 7.3. Job order costing: details and documents  Chapter overview  Group output
(T-01/17/17) 7.4. Job order costing illustration short quiz  See summary on last page.
Session 14 7.5. Job order costing using standard costs  Practice set
(H-01/19/17) 7.6. Job order costing to assist managers  Seat/Group work
(F-01/20/17) 7.7. Product and material losses in job order costing
Session 13 CHAPTER 8: Activity based management and activity based costing  Discussion of  Chapter overview short
(W-01/18/17) concepts, quiz through: I.D.,
8.1. Activity based management
Session 15 standards and enumeration, definition,
(M-01/23/17)
8.2. Manufacturing cycle efficiency
laws computation
(T-01/24/17) 8.3. Cost driver analysis  Chapter overview  Group output
Session 16 8.4. Activity based costing short quiz  See summary on last page.
(H-01/26/17) 8.5. Determining whether ABC is useful  Practice set
(F-01/27/17) 8.6. Criticisms of ABC  Seat/Group work
Session 14 CHAPTER 9: Process costing  Discussion of  Chapter overview short
(W-01/25/17) concepts, quiz through: I.D.,
9.1. Introduction to process costing
Session 17 standards and enumeration, definition,
(M-01/30/17)
9.2. Weighted average and FIFO costing methods
laws computation
(T-01/31/17) 9.3. Process costing in a multi-department setting  Chapter overview  Group output
Session 18 9.4. Process costing with standard costs short quiz  See summary on last page.
(H-02/02/17) 9.5. Hybrid costing system  Practice set
(F-02/03/17) 9.6. Alternative calculations of WAVE and FIFO methods  Seat/Group work
9.7. Spoilage
Session 15/19 CHAPTER 10: Allocation of Joint costs and accounting for by-  Discussion of  Chapter overview short
(W-02/01/17) concepts, quiz through: I.D.,
product/scrap
(M-02/06/17) standards and enumeration, definition,
(T-02/07/17)
10.1. Outputs of a joint process
laws computation
Session 20 10.2. The joint process  Chapter overview  Group output
(H-02/09/16) 10.3. The joint process decision short quiz  See summary on last page.
(F-02/10/16) 10.4. Allocation of joint cost  Practice set
10.5. Accounting for by-product and scrap  Seat/Group work
10.6. By product and scrap in job order costing
10.7. Joint costs in service businesses and not-for-profit organizations
Session 16
(W-02/15/17)
Session 21 MIDTERM EXAM
(M-02/13/17)
(T-02/14/17)
Session 17 CHAPTER 11: Standard costing and variance analysis  Discussion of  Chapter overview short
(W-02/22/17) concepts, quiz through: I.D.,
11.1. Development of a standard costing system
Session 22 standards and enumeration, definition,
(M-02/20/17)
11.2. General variance analysis model
laws computation
(T-02/21/16) 11.3. Material and labor variance computations  Chapter overview  Group output
Session 23 11.4. Overhead variances short quiz  See summary on last page.
(H-02/23/17) 11.5. Standard cost system journal entries  Practice set
(F-02/24/17) 11.6. Why standard cost systems are used  Seat/Group work
11.7. Considerations in establishing standards
11.8. Changes in standards usage
11.9. Conversion cost as an element in standard costing
Session 18
(W-03/01/17)
Session 24 FINAL EXAMINATION
(M-02/27/17)
(T-02/28/17)
Session 19 INTIAL SCREENING FOR TOP PROJECT PER SECTION FOR THE FINAL COMPETITION:
(W-03/08/17) 1. Presentation of Project Results and Recommendations
Session 25 2. Recommendations from initial judging: Editing and Improvement of Presentation
(H-03/02/17)
3. Giving of copy of the study to clients
(F-03/03/17)
March 26 (Sun) Competition Day.

Subject requirements: Grading system:

1. TEXTBOOK (no borrowing), OR should be presented 35% Major exams

COURSE SYLLABUS AND PLAN FOR AC12&13 SEM02 SY1617 Page 3 of 4

2. Business Document samples compilation 20% Quizzes
3. Concept Maps and Practice Sets per chapter 20% Real-world scenario activity:
4. Seat/Groupwork and Presentation, Discussion & Critiquing Presentation, Discussion and Critiquing (PDC) 5%, compilation 5%,
5. Quizzes (short=SQ and long=LQ) narratives report 5% and final output 5%
6. Major examinations: midterm, finals 15% Comprehension, Application, and Synthesis:
7. Accomplishment portfolio containing outputs from Concept Maps per Chapter 5%, Practice Set 5%, Seatwork/groupwork
requirement #3 to 6 5%
8. BMBE Profiling and Costing Practices Study with printed ppt 10% Compliance and Organization: Text book 5% and Accomplishment
slides. Portfolio 5%
100% Total

TEXT BOOK: COST ACCOUNTING by MICHAEL KINNEY, CECILY RAIBORN, AND WILLIAM CARTER Latest Edition
REFERENCES:
1. Cost accounting and cost management by Maria Violeta Viray Vicente
2. Cost accounting by Schneider
3. Cost accounting by Drury

 Practice Set Schedule: To be written on the Worksheet. 1st meeting week except for W classes which is due every meeting.
Nov. 14, 17, 18 Ch.1 Key definitions on YP Jan. 9, 10, 11 Ch.7.Ex.9,12,14-20,23,27, Ch.7.Prob. 38, 47, 54.
Nov. 21/22 Ch.2 Key terms Jan. 23, 24, 25 Ch.8.Ex. No. 17, 19, 23, 24, 28, 30, 41, 49
Ch.9.Ex.28, 30, 38, 45, 56, 57
Nov. 28/29 Ch.4.Key terms and Ch.5.Key terms Jan. 30, 31, Feb. 1 Ch.10.Ex.12, 13, 15, 16 to 18, 21, 32, 40, 42, 46
Ch.11.Ex.45 and 52
Dec. 1, 2, 7 Ch.2.Ex.No.10-36,
Dec. 5, 6, 7 Ch.4.Ex.No. 4-1 to 4-3,4-11, Ch.4.P4-5, P4-6 and
Ch.5.Ex. No. 14, 21, 25, 26, 35-38, 47, 50, 53, 54
Dec. 12, 13, 14 ALL EXERCISES AND PROBLEMS.
Jan. 4, 5, 6 Ch.3.Ex.11,14-17, 21-22, 24, 29, 33, 52
Ch.6. P7-1, P7-3 to P7-6

 Concept Maps per chapter due every 2nd meeting of the week on short bond paper landscape. Hand written.

 Compilation of actual samples of business documents, whenever declared, or on the meeting for the chapter to which the documents
are related. This is a group requirement.

 Narrative report submission dates to be determined.

The details of this course plan may change as the semester runs to coincide with the actual turn of events. This merely serves as a guide.

COURSE SYLLABUS AND PLAN FOR AC12&13 SEM02 SY1617 Page 4 of 4