The course aims at introducing students to the notion of cost, its classifications, its measurement and accounting treatment. On completion of the course students must be able to use the accounting information to estimate the cost of products and services and to take decisions concerning the pricing of these products and services.
Course Content (Syllabus)
Cost classifications and terms. Inventory valuation and management - IFRS 2. Dire3ct matewrial, Direct Labour and Overheads. Profit and Loss account for a non-manufacturing company. Job-order costing. Process costind. By-product costing. Standard costing.
Cost, direct labour, direct material, overheads, job-order costing, process costing.