ACC 12 TERM 3 – WEEK 1 – 3 – Cost Accounting

Cost Accounting

Definition and explanation of accounting concepts unique to a manufacturing business
Preparation, presentation, analysis, interpretation and reporting on cost information for manufacturing enterprises:
• preparation of a production cost statement with notes for manufacturing costs
• preparation of a short-form Income Statement with notes for administration cost and selling & distribution cost
• calculation of gross profit on finished goods sold
• calculation of variable and fixed costs
• calculation of the cost of a product using variable and fixed costs
• calculation of cost per unit
• calculation of contribution per unit
• calculation of breakeven point
• calculation of total cost of production.
Integration of ethical issues relating to manufacturing: product quality, product age, raw materials, support for local products, pricefixing, theft, fraud, etc.

Integration of internal audit and control processes relating to