COMPC2 - Cost Accounting II

Transcription

1 Coordinating unit: Teaching unit: Academic year: Degree: ECTS credits: EUNCET - Euncet University Business School EUNCET - Euncet University Business School BACHELOR'S DEGREE IN BUSINESS ADMINISTRATION AND MANAGEMENT (Syllabus 2009). (Teaching unit Compulsory) 6 Teaching languages: Catalan Teaching staff Coordinator: Dr. Gonzalo Rodriguez Degree competences to which the subject contributes Specific: 1. Applying to the analysis of problems, professional criteria based on the application of advanced techniques and tools. 2. Producing consulting reports about specific situations of companies and markets. 3. Identifying, analysing and administering the sources of information and their contents relevant for the company. 4. Getting integrated in any functional area of the company and/or Organization and developing professionally any management task assigned. 5. Assessing from the relevant information registers the situation and predictable evolution of a company. Generical: 6. TEAMWORK AND PEOPLE DEVELOPMENT_N2. Being able to work as a member of an interdisciplinary team either as a standard member or undertaking management and people development tasks with the aim of contributing to carrying out projects with pragmatism and sense of responsibility, and taking on commitments bearing in mind the available resources. Teaching methodology Face-to face lectures Exercise-solving classes Activities guided by the professor Learning objectives of the subject - Being able to master the methodology to be able to analyze company costs. - Being able to calculate the balance, profit and loss accounting and liquid assets in the budget. - Being able to calculate the budget of flexible and general results adapted to the level of activity and the deviations between the budget and the actual results. - Being familiar with preset or standard costs. (Definition, advantages and standard cost types). - Being able to calculate standard costs: Technical specifications of raw materials, theoretical consumption, reduction accounting, standards of consumption of direct manpower and labour absenteeism, etc. - Being able to create a technical specification (prices of raw materials and the cost of the company per worked hour based on the different labour categories of the manufacturing team. - Being able to acquire the techniques in order to calculate the global deviations of raw material and manpower, while breaking down the total deviation in economic deviation and technical deviation. 1 / 6

2 - Being able to interpret the obtained deviations in terms of raw material and manpower. - Being able to know the needed techniques in order to increase the profitability of a product line, or more, based on the data obtained in cost accounting (breakeven point, security margin, ratio B/V). Study load Total learning time: 150h Hours large group: 0h 0.00% Hours medium group: 25h 16.67% Hours small group: 25h 16.67% Guided activities: 6h 15m 4.17% Self study: 93h 45m 62.50% 2 / 6

3 Content Chapter 1. Budgetary Control: General Concepts Learning time: 12h 30m Practical classes: 4h Guided activities: 3h Self study : 5h 30m 1. General Budget: General Concepts 2. Budgetary Control as a Tool for Decision Making 3. Typology of Budgets 4. Budgetary Control: Additional Applications Chapter 2. Budgetary Control: Fixed or General Budget 1. Operating Budgets: Sales, Customer Billing, Purchase, Purchase Payment, Operating expenses, etc. 2. Budgeted profit and loss account 3. Cash Budget 4. Budgeted Balance 3 / 6

4 Chapter 3. Fixed Budgets and Flexible Budget 1. General Concepts. Fixed Budget Constraints 2. Flexible Budget 3. Flexible Budget Reports. Five Column Report: 3.1 Revenue Deviations 3.2 Adjusted Budget Deviations Chapter 4. Standard Costs System Learning time: 12h 30m Practical classes: 4h Guided activities: 3h Self study : 5h 30m 1. Calculation of Technical Standards 2. Calculation of Economic Standards 3. Standard Data Sheets 4. Application of Standard Costs in Decision Making 4 / 6

5 Chapter 5. Standard Costs System: Analysis of Deviations 1. Typology of Deviations and their Elements 1.1 Price Deviation 1.2 Efficiency and Quantity Deviation 2. Analysis and calculation of Raw Material Deviations 3. Analysis and calculation of Direct Workforce Deviations 4. Analysis and calculation of Manufacturing Overhead Costs Chapter 6. Direct Costing System: Costs for Decision Making 1. General Concepts of Direct Costing 2. Operating Accounts for Direct Costing 2.1 Contribution Margin, Gross Margin and Net Margin 2.2 Breakeven Point 3. Relevant Costs for Decision Making 3.1 Relevant Cost Concept 3.2 Accepting a Special Order 3.3 Manufacturing or Purchasing 3.4 Removing a Product 3.5 Facility Optimization 3.6 Replacing a Production Equipment 3.7 Processing or selling beyond the Breakpoint 5 / 6

6 Qualification system Final exam (60%) Continuous assessment (40%) The final grade for the course (FQ) is calculated from the following formula: FQ Mark = 60% Final Exam + Continuous assessment mark 40% Minimum mark Final Exam 40 points out of 100 The course is passed with a FQ equal or above 50 out of 100 Generic skills are evaluated from the activities undertaken throughout the course and are considered passed if the student gets a score equal to or higher than 3 on the assessment rubric. Regulations for carrying out activities A minimum mark of 40 out of 100 is required in the final exam to be able to average with the coursework mark, otherwise the final course mark will be a fail Bibliography Basic: Nicolás, Pere. Elaboración y control de presupuestos. Barcelona: Gestión 2000, S.A., / 6