Reporting and cost accounting
Scientific Disciplinary Sector (SSD)
SECS-P/07 - BUSINESS ADMINISTRATION AND ACCOUNTING STUDIES
secondo semestre (lauree magistrali) dal Feb 21, 2022 al May 13, 2022.
The aim of the course is to develop the student ability in undestanding and designing the cost accounting and the business reporting systems.
A cost accounting system is concerned with accumulating cost for inventory valuation to meet external financial accounting and internal monthly or quaterly profit measurement requirements.
A management accounting system accumulates, classifies, summarizes and reports information that will assist employees within an organization in their decision making, planning, control and performance measurement activities. A business reporting system summarise both internal and external information for the decision making process realised by top and middle management.
At the end of the course the student will be able:
- to know the main instruments for cost accounting and business reporting;
- to design the cost accounting system and the business reporting system for a SME;
- to determine and analyse the main variances between budget and actual costs;
- to prepare a few business reports on costs or responsibility centers.
The course is taught in English.
The course is divided into four parts (both for attending and non attending students):
PART 1: INTRODUCTION TO MANAGEMENT AND COST ACCOUNTING
1. Introduction to management accounting
2. An introduction to cost terms and concepts
PART 2: COST ACCUMULATION FOR INVENTORY VALUATION AND PROFIT MEASUREMENT
3. Cost assignment
4. Accounting entries for a job costing system
5. Process costing
6. Joint and by-product costing
PART 3: INFORMATION FOR DECISION-MAKING
8. Cost-volume-profit analysis
9. Measuring relevant costs and revenues for decision-making
10. Pricing decision and profitability analysis
11. Activity-based costing
PART 4: INFORMATION FOR PLANNING, CONTROL AND PERFORMANCE MEASUREMENT
15. The budgeting process
16. Management control systems
17. Standard costing and variance analysis
PART 6: INFORMATION FOR PLANNING, CONTROL AND PERFORMANCE MEASUREMENT
24 Cost estimation and cost behaviour
TEACHING ACTIVITY: front lessons. During the course a few casestudy will be analysed. Students will found those materials accessing to MYUNIVR platform. Students must prepare (compulsory for all students) a project work under the supervision of the teacher. Instructions on how to do the PW (also for non attending students) are given in MYUNIVR platform. Chapters of the text book to study (Drury 10th ed) : 1, 2, 3, 4, 5, 6, 8, 9, 10, 11, 12, 15, 16, 17, 24.
The teacher is available for QandA:
1. at the and of the lectures;
2. in a specific meeting with students (both in presence and via skype - please see institutional webpage).
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The aim of the examination is to assess a) the student knowledge of the main topics of the course and b) the ability to solve some practical case-study taken from the textbook and from case studies.
The examination is done via MOODLE platform and gives max of 30 marks. It includes 10 multiple choice questions (MCQ), 2 marks for each question and 2 open questions (OQ), 5 marks for each question. Each question (MCQ and OQ) has a specific score indicated at the top line. The final grade is the sum of the scores of every single question (MCQ + OQ). The maximum score is 30. The exam lasts 50 minutes and is done using MOODLE platform and SEB (secure exam browser). Please be ready to use a LAPTOP with 1 hour of battery. A mobile phone with ZOOM installed is required. If available the exam is done in an IT lab room.
In addition (but it is not compulsory) students can deliver an essay (PW1) on MOODLE (see there for more instructions) that gives students 2 more marks.
Alternatively, individually or in groups of max 3 persons, students can deliver PW2, which is a COST ANALYSIS done in a real company (chosen autonomously or from a few cases indicated by the teacher). PW2 gives 3 marks plus 4 marks to MCQ and 5 marks to OQ. PW2 is very challenging and gives the students the possibility to prove its attitudes to practical activities. As it involves external subjects it can be chosen only by students that: 1. attend the lectures, 2. have adequate time and energies, 3. have received approval by the teacher.
After passing the written examination the student MAY ask for an additional oral examination to modify (max +/- 3 marks) the previous score.
Online registration is required at least 3 days before the examination date.
The exam is in English.