Management Accounting I

Scholar Year: 2018/2019 - 1S

Courses

Head Teacher Responsability Pedro Nuno Coelho Palhão Bicho Pardal Head

Weekly workload Hours/week T TP P PL L TC E OT OT/PL TPL O S Type of classes 1 3 Lectures Type Teacher Classes Hours Theoretical Totals 1 1,00 Filipe Bacalhau   1,00 Practices Totals 1 3,00 Filipe Bacalhau   3,00

Teaching language

Portuguese

Intended learning outcomes (Knowledges, skills and competencies to be developed by the students)

• To discuss the role of Management Accounting in organizations.
• To present the fundamental concepts of Management Accounting.
• To understand the different components of cost production.
• To value inventories and determine the industrial cost of production, the industrial cost of the finished products and the industrial cost of the products sold, by direct and indirect methods.
• To determine the income by products/services.

Syllabus

1 - FUNDAMENTALS OF MANAGEMENT ACCOUNTING
1.1 - Scope and objectives
1.1.1 - Accounting and information for the management
1.1.2 - Objectives and characteristics of Management Accounting
1.2 - Fundamental Concepts of Management Accounting
1.2.1 - Economic and financial concepts
1.2.2 - The different classifications of costs
1.2.2.1 - Direct and indirect costs
1.2.2.2 - Variable costs and fixed costs
1.2.2.3 - Industrial costs and other functions
1.2.2.4 - Other cost classifications
1.2.3 - Industrial cost of production and its components
1.2.3.1 - Raw Materials
1.2.3.2 - Labour Costs
1.2.3.3 - General Manufacturing Expenses
1.2.3.4 - Indirect Cost Allocation
1.2.4 - Costs of products and costs of the period
1.2.4.1 - Industrial cost of the finished product
1.2.4.2 - Industrial cost of the product sold
1.2.4.3 - Gross income
1.2.5 - Production costing systems

2 - CALCULATION OF THE PRODUCTION COST
2.1 - Manufacturing schemes and methods of calculating the cost of production
2.2 - The direct method or of specific costs
2.2.1 - Definition and operation
2.2.2 - Documentation
2.3 - The indirect method or cost per process
2.3.1 - Definition and operation
2.3.2 - Documentation
2.3 - The mixed method
2.4 - The specific case of joint production
2.4.1 - Characterization
2.4.2 - Coproducts and by-products
2.4.3 - Breakdown of joint costs
2.4.3.1 - Average unit cost
2.4.3.2 - Weighted average
2.4.3.3 - Relative selling price
2.4.3.4 - By-products
3 - VALUE OF MANUFACTURING IN PROCESS AND DEFECTIVE PRODUCTION
3.1 - Valuation of products in the process of manufacture
3.4.1 - Method of equivalent units
3.4.2 - Costing formulas: FIFO and Average cost
3.2 - Defective production

Teaching methodologies

• Theoretical classes: Use of expository method, to introduce the theoretical concepts and participatory method for reflection on the contents.
• Practical classes: Use of expository and participatory methods to solve exercises.

Assessment methodologies and evidences

The assessment of knowledge consists of two written tests. The minimum grade is 9.0 values, the weighted average of the two tests being equal to or greater than 10 values. If it is less than 10 values, the student will have to take an appeal exam.

Continuous evaluation:
Final Score = 45% 1st Test + 55% 2nd Test

Exams - Normal Season (Continuous Evaluation Option), Resource and Special:
Final Grade = 100% Exam

Assement and Attendance registers

Main Bibliography

Complementary Bibliography