Industrial Engineering (English)
Bachelor	TR-NQF-HE: Level 6	QF-EHEA: First Cycle	EQF-LLL: Level 6

General course introduction information

Course Code:

ACCA253

Course Name:

Financial and Cost Accounting

Course Semester:

Fall

Course Credits:

Theoretical	Practical	Credit	ECTS
3	0	3	7

Language of instruction:

Course Requisites:

Does the Course Require Work Experience?:

Type of course:

Compulsory

Course Level:

Bachelor

TR-NQF-HE:6. Master`s Degree

QF-EHEA:First Cycle

EQF-LLL:6. Master`s Degree

Mode of Delivery:

Face to face

Course Coordinator :

Dr.Öğr.Üyesi ALİNA TARAN

Course Lecturer(s):

Öğr.Gör. B.Öğretim Elemanı
GÖKTUĞ DUYAR
Dr.Öğr.Üyesi İREM BATIBAY TÜNAYDIN

Course Assistants:

Course Objective and Content

Course Objectives:	Role of consumers, firms, and workers as economic actors; nature of economic interaction and dealings; economic choice and constraints; consumer theory and demand; theory of the firm: production, costs and supply; general equilibrium; market structures; market failures; imperfect information; welfare; examples from the World and Turkey.
Course Content:	At the end of this course the students will be able to: • Explain and discuss the essential body of knowledge in the area of financial accounting. • Evaluate the basic nature of cost accounting concepts, classifications and statements. • Determine the major factors affecting cost management and profitability of companies. • Understand the types of budgeting and its contents.

Learning Outcomes

The students who have succeeded in this course;

Learning Outcomes

1 - Knowledge
Theoretical - Conceptual
1) Acquiring the theoretical knowledge of the course
2 - Skills
Cognitive - Practical
3 - Competences
Communication and Social Competence
Learning Competence
1) 2.1) Lecture;discussion and problem solving
Field Specific Competence
1) • Explains and discusses basic information source in financial accounting
2) • Evaluates the basic nature of cost accounting concepts, classifications and declarations • Identifies key factors affecting cost management and profitability of companies
Competence to Work Independently and Take Responsibility

Lesson Plan

Week	Subject	Related Preparation
1)
1)
2)	• Identify the basic concepts that underlie cost accounting. • Describe the difference between financial and cost accounting. • Explain the term of managerial accounting	Review the material covered. The chapter 2 of Cost Accounting by James A. Cashin, Ralph S. Polimeni, Mc-Graw Hill Company.
3)	• Interpret elements of a product. • Define materials, labor, factory overhead as cost item. • Explain prime costs, conversion costs. • List some costs on the basis of functional areas. • Understand economic considerations such as opportunity costs. • Evaluate planning, controlling and decision making process in cost management.	• Lecture and discussing the results of the homework assigned.
4)	• Define average cost, LIFO and FIFO methods. • Compare different inventory methods. • Interpret the advantages and disadvantages of LIFO methods. • Evaluate the advantages and disadvantages of FIFO systems. • Solve examples to understand cost management and controlling process	Lecture and problem solving
5)	• Describe how management accountants function within an organization. • Understand the importance of ethical behavior for management accountants. • Indentify the three forms of certification available to internal accountants.	The chapter 7 of Cost Accounting by James A. Cashin, Ralph S. Polimeni, Mc-Graw Hill Company.
6)	• Explain the differences between traditional and contemporary cost management systems. • Evaluate why there are different product cost definitions. • Discuss the relationship between production and costs • Prepare income statements for manufacturing firms. • Illustrate income statements for service industry. • Define private and external costs • Illustrate the patterns of returns in the short-run and long-run, understandand economies of scale	Review the material covered. The chapter 8 of Cost Accounting by James A. Cashin, Ralph S. Polimeni, Mc-Graw Hill Company.
7)	• Explain the use of resources and activities and their relationship to cost behavior. • Separate mixed costs into their fixed and variable components using the high-low method. • Describe how a perfectly competitive firm maximizes its profits, based on analysis of total revenue and total cost curves. • Evaluate why economic profits are driven to zero under perfect competition. • Discuss why inefficiencies may persist in markets, even under conditions approaching perfect competition. • Understand the function of managerial judgment in determining cost behavior.	Review the material covered. The chapter 9 of Cost Accounting by James A. Cashin, Ralph S. Polimeni, Mc-Graw Hill Company.
8)	• Midterm Exam	lecture notes
9)	• Define responsibility accounting and describe the four types of responsibility centers. • Compute return on investment (ROI). • Explain residual income (RI). • Understand economic value added (EVA). • Discuss methods of evalauting and rewarding managerial performance. • Illustrate the methods of setting transfer prices.	Review the material covered. The chapters 10 of Cost Accounting by James A. Cashin, Ralph S. Polimeni, Mc-Graw Hill Company.
10)	• Discuss how individuals make decisions about entering the market for paid labor. • Understand the concepts of labor demand and labor supply, including the ambiguity regarding the slope of the labor supply curve at the individual level. • Describe the interaction of supply and demand in the aggregate labor market. • Explain variations in wages among workers, as well as how these are determined in the market. • Discuss recent changes in jobs and the labor force, particularly the notion of employment “flexibility,” annual work hours, and the impact of immigration.	Review the material covered.. The chapter 11 of Cost Accounting by James A. Cashin, Ralph S. Polimeni, Mc-Graw Hill Company.
11)	• Explain what strategic cost management is. • Discuss how strategic cost management can be used to help a firm create a competitive advantage. • Understand what life-cycle cost management is. • Illustrate how life-cycle cost management can be used to maximize profits over a product’s life cycle • Describe the interaction of related costs and a product’s life cycle.	The chapter 12 of Cost Accounting by James A. Cashin, Ralph S. Polimeni, Mc-Graw Hill Company.
12)	• Explain the meaning of productive efficiency. • Describe the difference between technical and allocative efficiency. • Illustrate what total productivity measurement is. • List the advantages of total productivity measurement for cost controlling.	Review the material covered.
13)	• Analyze the amount of revenue required to break even point or to earn a targeted profit. • Apply cost-volumu-profit analysis in a multiple product setting. • Unterstand the profit volume graph. • Prepare a cost volume profit graph. • Explain the meaning of each graph. • Discuss the impact of activity based costing on cost volume profit analysis.	Review the material covered.
14)	• Evaluate what the activity usage model is. • Explain how the activity resource usage model is used in assessing relevancy. • Determine the tactical decision making concepts. • Apply the tactical decision making concepts in a variety of business situations.	Anlatılan konuları gözden geçirme. Maliyet Muhasebesi, Bölüm 13, James A. Cashin, Ralph S. Polimeni, Mc-Graw Hill Kitabevi.
15)	• Final Exam	Lecture Notes
16)	Final Exam	Lecture Notes

Sources

Course Notes / Textbooks:	Veyis Naci Tanış, Hasan Özyapıcı (2023), COST ACCOUNTİNG AND MANAGEMENT ACCOUNTİNG, Karahan Kitabevi Williams, J.R., Haka, S.F., Better, M.S., Carcello, J.V. (2021) Financial & Managerial Accounting. The basis for business decisions, 19th Edition, McGraw-Hill Education
References:	Veyis Naci Tanış, Hasan Özyapıcı (2023), COST ACCOUNTİNG AND MANAGEMENT ACCOUNTİNG, Karahan Kitabevi Williams, J.R., Haka, S.F., Better, M.S., Carcello, J.V. (2021) Financial & Managerial Accounting. The basis for business decisions, 19th Edition, McGraw-Hill Education

Course-Program Learning Outcome Relationship

Learning Outcomes	1		3	4
Program Outcomes
1) Adequate knowledge in mathematics, science and engineering subjects pertaining to the relevant discipline; ability to use theoretical and applied information in these areas to model and solve engineering problems.
2) Ability to identify, formulate, and solve complex engineering problems; ability to select and apply proper analysis and modelling methods for this purpose.
3) Ability to design a complex system, process, device or product under realistic constraints and conditions, in such a way so as to meet the desired result; ability to apply modern design methods for this purpose. (Realistic constraints and conditions may include factors such as economic and environmental issues, sustainability, manufacturability, ethics, health, safety issues, and social and political issues according to the nature of the design.)
4) Ability to devise, select, and use modern techniques and tools needed for engineering practice; ability to employ information technologies effectively.
5) Ability to design and conduct experiments, gather data, analyse and interpret results for investigating engineering problems.
6) Ability to work efficiently in intra-disciplinary and multi-disciplinary teams; ability to work individually.
7) Ability to communicate effectively i Turkish, both orally and in writing; knowledge of a minimum of one foreign language.
8) Recognition of the need for lifelong learning; ability to access information, to follow developments in science and technology, and to continue to educate him/herself.
9) Awareness of professional and ethical responsibility.
10) Information about business life practices such as project management, risk management, and change management; awareness of entrepreneurship, innovation, and sustainable development.
11) Knowledge about contemporary issues and the global and societal effects of engineering practices on health, environment, and safety; awareness of the legal consequences of engineering solutions.

Course - Learning Outcome Relationship

No Effect	1 Lowest	2 Low	3 Average	4 High	5 Highest

	Program Outcomes	Level of Contribution
1)	Adequate knowledge in mathematics, science and engineering subjects pertaining to the relevant discipline; ability to use theoretical and applied information in these areas to model and solve engineering problems.
2)	Ability to identify, formulate, and solve complex engineering problems; ability to select and apply proper analysis and modelling methods for this purpose.
3)	Ability to design a complex system, process, device or product under realistic constraints and conditions, in such a way so as to meet the desired result; ability to apply modern design methods for this purpose. (Realistic constraints and conditions may include factors such as economic and environmental issues, sustainability, manufacturability, ethics, health, safety issues, and social and political issues according to the nature of the design.)	1
4)	Ability to devise, select, and use modern techniques and tools needed for engineering practice; ability to employ information technologies effectively.
5)	Ability to design and conduct experiments, gather data, analyse and interpret results for investigating engineering problems.	2
6)	Ability to work efficiently in intra-disciplinary and multi-disciplinary teams; ability to work individually.
7)	Ability to communicate effectively i Turkish, both orally and in writing; knowledge of a minimum of one foreign language.
8)	Recognition of the need for lifelong learning; ability to access information, to follow developments in science and technology, and to continue to educate him/herself.	5
9)	Awareness of professional and ethical responsibility.	5
10)	Information about business life practices such as project management, risk management, and change management; awareness of entrepreneurship, innovation, and sustainable development.
11)	Knowledge about contemporary issues and the global and societal effects of engineering practices on health, environment, and safety; awareness of the legal consequences of engineering solutions.

Learning Activity and Teaching Methods

Field Study
Peer Review
Expression
Brainstorming/ Six tihnking hats
Individual study and homework
Reading
Homework
Problem Solving
Q&A / Discussion

Assessment & Grading Methods and Criteria

Written Exam (Open-ended questions, multiple choice, true-false, matching, fill in the blanks, sequencing)
Application
Observation

Assessment & Grading

Semester Requirements	Number of Activities	Level of Contribution
Homework Assignments	1	% 10
Midterms	1	% 40
Final	1	% 50
total		% 100
PERCENTAGE OF SEMESTER WORK		% 50
PERCENTAGE OF FINAL WORK		% 50
total		% 100

Workload and ECTS Credit Grading

Activities	Number of Activities	Workload
Course Hours	16	48
Study Hours Out of Class	16	128
Midterms	1	12
Final	1	15
Total Workload		203