The module explores the fundamental concepts and principles of Cost Accounting, and introduces students to the design of accounting control systems and the decision-making techniques within organizations. More specifically, the topics analysed include the following:
• Factors driving costs; cost terms and cost assignment
• Relevance of costs in the decision process
• Job costing vs. process costing
• Allocation and reallocation of costs to cost centres
• Marginal, absorption, and activity-based costing systems
• Role of budgeting in the planning, control and resource allocation process
COST ACCOUNTING
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