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Learning Objectives

The course introduces cost concepts and terminology, inventory control, capital asset selection, and performance measurement. Cost accounting provides key data to managers for planning and controlling, as well as data on costing products, services, and customers. By focusing on basic concepts, analyses, uses, and procedures, we recognize cost accounting as a managerial tool.
1) Learning Skills:- Understanding of cost behaviour and related terminology- Introduction to significance of “cost” in business decisions- Definition some skills for cost management- Introduction of the concept of Managerial Control aimed at Business Planning
2) Applying Knowledge and Understanding:- Identification of direct & indirect cost- Calculate the break-even point- Understand those relevant items in cost computation- Identification of Capital Budget main features
3) Making Judgements:- Comprehension of business internal reports- Definition the profitability - Comprehension of both Variable Cost and Full Cost Reporting
4) Communication Skills:- Discussion of cases study and exercises by using the appropriate terminology- Providing Cost Accounting Reports aimed at inform business management
- Discussion of cases study and exercises by using the appropriate terminology
- Providing Cost Accounting Reports aimed at inform business manageme




I) Managerial vs Financial Accounting: • Concepts of cost & expenses; • Planning & Control Process; • Product Cost and Period Cost.
II) Fundamentals of Cost Accounting: • Differentiate between direct and indirect costs; • Cost attribution and cost allocation; • Identify key components and terminology.
III) Cost-Volume-Profit (CVP): • Distinguish among fixed, mixed, and variable costs; • Calculate a break-even point ; • Prepare income statements using both variable and absorption costing.
IV) Cost Allocation: • Identify cost drivers for manufacturing and service activities; • Calculate overhead rates using cost drivers; • Compute allocation of overhead costs to cost pools, end products, and services.
V) Capital Budgeting Decisions: • Basic concepts; • The Net Present Value and the Internal Rate of Return; • Other approaches to capital budgeting decisions.


Managerial Accounting - Basics of Cost Analysis; McGraw-Hill Education - CREATE
ISBN: 9781308978611


- Edmonds, T. P., Edmonds, C. D., Tsay, B. Y., & Olds, P. R. (2017). Fundamental managerial accounting concepts. McGraw-Hill Higher Education
- Brealey, R. A., Myers, S. C., Allen, F., & Mohanty, P. (2012). Principles of corporate finance. Tata McGraw-Hill Education.

Teaching methods

The course will be a combination of lectures, problem-solving, case studies, and interactive class discussions.

Exam Rules

The final exam consists in two compulsory parts that usually are held on the same day:
1) a written exam covering the entire course's material; it concerns with both theoretical questions and practical application. Minimum qualifying grade required to get credit: 18/30.
2) an oral exam covering the discussion of written one and in-depth analysis of both theorethical and practical topics.