Republic of the Philippines

POLYTECHNIC UNIVERSITY OF THE PHILIPPINES

Office of the Vice President for Academic Affairs
COLLEGE OF ACCOUNTANCY & FINANCE

COURSE SYLLABUS and LEARNING PLAN

COURSE TITLE : COST ACCOUNTING AND CONTROL

COURSE CODE : ACCO 20073

COURSE CREDIT : 3 UNITS

PRE-REQUISITE : Financial Accounting and Reporting 2

COURSE : This course is designed to orient the students to the cost accounting & control concepts. Topics discussed are overview of cost accounting ;
DESCRIPTION manufacturing cost accounting cycle; costing methods; job and process cost systems;m accounting, planning and control for materials, labor and
overhead; accounting for joint and by-products; service allocation and standard costing (two-way variance only)

Institutional Learning Outcomes Programs Outcomes Course Outcomes

1. Creative and Critical Thinking
2. Effective Communication
3. Strong Service Orientation
4. Passion to Life-Long Learning
5. Sense of Personal and Professional
Ethics
BSA and BSMA graduates must demonstrate the ability to review, interpret, Upon completion of the course, the students will
evaluate financial data and systems in compliance with established policies, be able to:
procedures, guidelines, agreements and/or legislation. a. Have a clear understanding of the
He must be able to link data, knowledge and insight together with different concept of cost and cost accounting
sources and disciplines to make informed decisions. cycle;
He should possess active listening skills and the ability to communicate b. Have acquired a thorough knowledge
effectively one’s point of view, both orally and in writing, at all organizational about determining product cost using job
levels; be able to explain verbally and/or writing financial, statistical, order costing, process costing, Activity
administrative matters/policies/procedures/regulatory matters/audit results at a Based Costing; Backflush Accounting,
level appropriate to the audience and must be able to negotiate effectively. Joint-cost and by product costing and
A BSA & BSMA graduate should develop an ability to work in groups, possess standard costing;
skills to participate as member of a team or/and contribute to group effort; be c. Have equiped themselves with a clear
able to teach others new skills; be able to work to the satisfaction of the clients; understanding and knowledge about
negotiate and work with diversity or work well with men and women from standard costing, determining and
diverse backgrounds. analyzing variances and disposing or
A BSA and BSMA graduate must work with the highest standards of accounting of variances in materials, labor
professionalism, to attain higher level of performance and generally to meet the and overhead;
public interest, he must conform to the ethical standards of the profession that d. Apply knowledge acquired in variance
include: Integrity, objectivity and independence, professional competence and analysis in planning and decision making ;
due care, confidentiality, professional behavior and moral values.

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 6. Sense of Nationalism and Global
Responsiveness
7. Community Engagement
8. Adeptness in the Responsible Use of
Technology
9. High Level of Leadership and
Organization Skills
A BSA and BSMA graduate should possess general knowledge in gaining and e. Have assumed responsibility, integrity,
understanding of the different cultures in the world and developing an accuracy, timeliness and neatness in the
international objective thus, he must possess competency in English language, preparation, presentation and submission
adaptability to foreign business practices, level of trainability and good of cost of production reports, statement of
capabilities in dealing with foreign partners. cost of goods manufactured and sold and
A BSA and BSMA graduate should not only be conversant with IT concepts for income statement.
business systems but sound knowledge on internal control in computer-based
systems, development standards and practices for business systems,
management of the adoption, implementation and use of IT, evaluation of
computer business systems, and managing the security information.
A BSA and BSMA graduate should possess broad base of knowledge
concerning macro-environmental, economic and industry issues, business
process structures, functions and practices. It includes knowledge in areas
such as economics, quantitative models and busines statistics, organizational
behavior, internation business, ethics and corporate governance.

DETAILED LEARNING PLAN

WEEK NO. OF RESOURCES/

TOPIC LEARNING OUTCOMES METHODLOGIES ASSESSMENT
NO. HOURS REFERENCES

.5 Classroom policies and The student will be able to: Sharing of expectations Copy of course syllabus Elect classroom officers;
introduction to the course • Understand the contents of from the teacher and Prepare seat plan for the
the course, the classroom the students class; and student submit
Discussion of the course policies on attendance, reflection paper on their
syllabus grading system and values realization from the initial
• Elect classroom officers discussion
• Prepare seat plan for the
class
1-2
5.5 Cost Concepts After thorough discussion of the • Discussion/Lecture Cost Accounting by De • Oral Recitation
• Definition, scope, topics, the student will be able to: • Recitation Leon, De Leon & De • Seatwork
objectives of cost • Differentiate financial • Assignment Leon, 2019 Edition • Quiz
accounting management and cost • Problem solving on
• Relationship of cost accounting simple product
accounting to financial • Identify and define cost costing
and management terms as classified • Presentation of
acounting pro-forma income

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 • Nature, classification • Compare cost flow in statements of
and purposes of cost service, trading and service, trading
• Elements of product manufacturing firms and manufacturing
cost, cost flow in • Compare/distinguish businesses
service, trading and income statemetn of
manufacturing service, trading and
businesses manufacturing firms
• Mention/explain new
account titles in materials,
labor and overhead
Csot Determination After thorough discussion of the • Discussion/Lecture . Cost Accounting by De • Oral Recitation
a. Journal entries for topics, the student will be able to: • Recitation Leon, De Leon & De • Seatwork
manufacturing • Differentiate direct from • Journalizing basic Leon, 2019 Edition • Quiz
operations using actual indirect materials and labor transactions of a
costing and normal in accounting manufacturing
costing method of • Journalize acquisition and company
accumulating costs issuance of materials using • Prepare Statement
b. Acquisition and FIFO, Average, Specific of Cost of Goods
issuance of raw Identification Sold, Income
materials • Journalize factory payroll Statement and
c. Labor cost incurrence showing how overtime Balance Sheet for
and distribution premium is computed and manufacturing
d. Incurrence of overhead recorded business
• Items of • Differentiate and give • Assignment
overhead examples of fixed and
3-4 6 classified into variable overhead and
fixed, variable separating these elements
and mixed in a mixed costs
• Methods of • Journalize actual overhead
separating incurred
fixed from • Compute pre-determined
variable in a overhead rate and
mixed costs journalize applied overhead
• Actual vs. • Prepare cost of goods
applied manufactured and sold in
overhead using good form including Income
different Statement and Balance
overhead rates Sheet of a manufacturing
• Over or under concern
applied
overhead

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 recognition and
disposition
e. Preparation of
Statement of Cost of
Goods Manufactured
and Sold, Income
Statement and Balance
Sheet of a
manufacturing concern
Material Costing and Control After thorough discussion of the
a. Costing based on topics, the student will be able to:
physical flow (FIFO,
Average, Specific
Identification)
b. Inventory Managemnet
control
• Economic
Order Quantity
• Just-in-Time
Backflust
Accounting
c. Accounting and control
of scrap, defective and
spoiled materials and
5-7 9 goods
Labor Costing and Control
a. Payroll preparation and
distribution
b. Other labor related cost
Overhead Costing and Control
a. Selection of activity
based level
b. Plant-wide vs.
departmental rates
c. Allocation of service
cost using direct, step
and algebraic method
• Discussion/Lecture . Cost Accounting by De • Oral Recitation
• Assignment Leon, De Leon & De • Seatwork
• Describe and apply to short • Problem Solving Leon, 2019 Edition • Quiz
cases/situations FIFO,
Average amd Specific
Identification method of
inventory valuation.
• Describe and give the
advantages of traditional
control procedures
• Define ordering cost.
Carrying cost, economic
order quantity, just in time
and backflush costing
• Journalize transactions
using backflush costing
• Journalize scrap, defective,
materials and goods
• Journalize weekly and
semi-monthly payroll
• Compute the amount of
WHT, SSS, Pag-ibig and
Philhealth deductions from
the payroll
• Prepare detailed semi
monthly payroll
• Compute overhead rates
using various bases in
applying overhead to
production
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Process Csoting System After thorough discussion of the
a. Definition, nature and topics, the student will be able to:
characteristics of the
Process cost system
b. Equivalent units of
production under
Average and FIFO
c. Cost of production
report
• Single and
multi-
department
• Even and
uneven
9-12 12
application of
cost
d. Lost units
• Normal
• Abnormal
e. Accretion in units in a
subsequent department
(adjusting unit cost of
prior process)
f. Journal entries for the
flow of costs
g. Preparation of cost of
goods manufactured
and sold statement
• Compare plant-wide and
departmetnal overhead
rates
• Apply and journalize the
methods of allocating
service costs.
MIDTERM DEPARTMENTAL EXAMINATION
• Discussion/Lecture . Cost Accounting by De • Oral Recitation
• Assignment Leon, De Leon & De • Seatwork
• Define and cite the • Problem Solving Leon, 2019 Edition • Quiz
characteristics of the • Application of
process cost system concept
• Compare job order and
process cost systems
• Define and compute for
equivalent production under
average and FIFO method
• Prepare cost of production
report- even and uneven
application of cost, first and
then subsequent process or
department with and
without loss units both
normal and abnormal
• Prepare cost of production
report with accretion in
units
• Journalize typical
transactions and prepare
statement of cost of goods
manufactured and sold
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13-14- 6 Joint and By-Product Costing After thorough discussion of the
a. Definition and topics, the student will be able to:
characteristics of joint
and by products
b. Methods of allocating
joint cost to joint
product
c. Management decisions
regarding joint process
d. Accounting for by-
products and scrap
e. Journal entries for
costs flow and
preparation of costs of
goods manufactured
and sold and income
statement
15-17 9 Standard Costng After thorough discussion of the
a. Definition and topics, the student will be able to:
objectives of standard
costing
b. Uses and limitations of
standard costing
c. Determination and
setting up of standard
d. Variance analysis
• Materials
• Labor
• Overhead (2-
way variance
method only)
e. Journal entries and
preparation of cost of
goods manufactured
and sold for typical
firms using standard
cost and how variances
are recorded and
disposed of
• Discussion/Lecture Cost Accounting by De • Oral Recitation
• Assignment Leon, De Leon & De • Seatwork
• Define and give examples • Problem Solving Leon, 2019 Edition • Quiz
of joint process, joint • Application of
products and by-products concept
• Illustrate/explain the
methods of accounting for
by products
• Compute unit cost using
various methods of
allocating joint costs
• Determine profit from each
of joint products and by-
products
• Journalize cost flow for joint
and by-products and
prepare income statement
• Discussion/Lecture Cost Accounting by De • Oral Recitation
• Assignment Leon, De Leon & De • Seatwork
• Name and define the types • Problem Solving Leon, 2019 Edition • Quiz
of standards and uses of • Application of
standards concept
• Compute variances for
materials, labor and
overhead (start with two-
way approach)
• Identify the relevance,
strengh and weaknesses of
standard analysis for
performance and control of
operations
• Journalize transactions
under standard costing
under two methods
1. WIP debited at actual
cost and credited at
standard cost
2. WIP debited and
credited at standard
cost
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 18 3 FINAL DEPARTMENTAL EXAMINATION

• Cost Accounting by De Leon, De Leon and De Leon, 2019 Edition

• Cost Accounting by Reiborn & Kinney, 2013 Edition
• Cost Accounting by Millan, 2019 Edition
• Cost Accounting by P.P. Guerrerro, 2019 Edition
• Csot Accounting by Cabrera, 2019 Edition

GRADING SYSTEM
Class Standing 70%
Quizzes 15%
Recitation 25%
Assignments 10%
Notebook 10%
Attendance, right conduct 10%
Departmental examination 30%
Total 100%

Final Grade = (1st Grading Period + 2nd Grading Period)

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ATTENDANCE

The allowed number of absences for students enrolled in Financial Accounting & Reporting P-2 course with once-a-week meeting is 9 hours (3 meetings). Request for excused
absences or waiver of absences must be presented upon reporting back to class. Special examinations will be allowed only in special cases, such as prolonged illness. It is the
responsibility of the student to monitor his/her own tardy incidents and absences that might accumulate leading to a grade of “FA,” (Failed due to Absences). It is also his/her
responsibility to consult with the teacher, chair or dean should his/her case be of special nature.

ACADEMIC HONESTY

All BSA / BSMA students are expected to be academically honest. Cheating, lying and other forms of immoral and unethical behavior will not be tolerated. Any student found
guilty of cheating in examinations will (at a minimum) receive a grade of 5.0 in the said test.

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 Prepared by: Reviewed by: Date Approved by: Date

Ms. JOY ANNE P. VICENTE Asst. Prof. RUBY JEAN S. MEDINA Assoc. Prof. LEONILA J. GENERALES
Faculty Head, Academic Programs Office Branch Director

Student’s Copy

I have read the course syllabus and I understand that I have to comply with the requirements of the course and the expectations from me as a student during the First Semester of
SY 2018-2019. I am fully aware of the consequences of non-compliance with the above-mentioned requirements and expectations.

Printed name and signature of student

Date

---------------------------------------------------------------------------------------------------------------------------
Teacher’s Copy

I have read the course syllabus and I understand that I have to comply with the requirements of the course and the expectations from me as a student during the First Semester of
SY 2018-2019. I am fully aware of the consequences of non-compliance with the above-mentioned requirements and expectations.

Printed name and signature of student

Date
Effective School Year 2018-2019