Cost Accounting Systems
Objectives:
The purpose of this course is the knowledge, experience and understanding of accounting systems within the group 9 of the Greek Chart of Accounts with the use of information systems.
The course, based on Estimate and Historic Costing method (analysis of costs to cost centers of business), examines the Cost of Products, Services, Merchandised Goods of Multifunctional Companies (both manufacturing, trading and of services).
Then, students are taught modern costing methods such as Activity-Based Costing.
The course seeks to deepen the analysis and costing accounting and tries to answer the following questions:
• Which costing method is best, depending on the different forms of companies?
• Can this costing method be easily applied?
• Can this costing method provide better information regarding the cost of products to management?
Students will have to work with written or oral tasks in order to be prepared to face the complexity of costing accounting.
Skills:
General Skills of Computing and basic knowledge of the group 9 of the Greek Chart of Accounts.
Prerequisites:
The approach will be initiated by the student and teacher guidance.
Content:
Arguments in Cost Accounting Systems.
Basic concepts of Costing Accounting.
Methods of costing products, merchandised goods and services.
Analysis and operation of the group 9 of the Greek Chart of Accounts.
Cost to Cost Centers Allocation.
Case studies of product costing in annual or monthly base, as well as batch costing.
Connection between Costing Accounting and Financial Accounting regarding the Greek Chart of Accounts.
Analysis of Activity-based Costing.
Case study of product costing with the use of group 9 of Greek Chart of Accounts interrelated with Cost Accounting Information Systems.
All studies are solved in the PC Laboratory using modern Cost Accounting Information Systems.
Advantages and disadvantages between Costing Accounting Methods.
Textbooks:
1. Horngren, Ch., Srikant M., et al., “Cost Accounting and Student CD Package”, 11th Edition, 2002, Prentice Hall, USA.
2. Barfield J., Raiborn C. and Kinney M., “Cost Accounting: Traditions & Innovations”, 5th Edition 2002, South-Western College Pub, USA.
3. Bagranoff Nancy A., Simkin Mark G. and Norman Carolyn Strand, “Core Concepts of Accounting Information Systems”, John Wiley & Sons; 11th Edition (18 Dec 2009).
4. Simkin Mark G., Strand Norman Carolyn A., “Accounting Information Systems”, John Wiley & Sons; 12th Edition International Student Version edition (21 Feb 2012).
5. Cost accounting with group 9 of the General Plan of Accounts - Monthly Cost Accounting - Annual Cost Accounting &Warehouse handling in practice, in Greek, (Karagiannis D, Karagiannis I, Karagianni A), 4th edition, 2009, Thessaloniki.
6. Management Accounting (Garrisson R, Noreen E), 11th edition, 2006, Athens
7. Extensive material of notes and analytic case studies will be delivered at the end of each lecture.
Assessment:
Written examination
