2nd and 3rd Level
LCC成本會計 (Cost Accounting) 無初級程度考試，只有中級程度考試和高級程度考試，本校用 16 堂時間，首先完成中級成本會計，隨即教授高級成本會計內容，一氣呵成，課程連貫。
全期課程 16 堂，每堂 2 小時 45 分，已經完成中級及高級成本會計課程全部考試範圍。
完成此課程後，學生可報考 LCC 中級成本會計及 LCC 高級成本會計，當然各同學亦可直接報考LCC高級成本會計。
Second Level Cost Accounting / Third Level Cost Accounting
Second Level Cost Accounting
(1) Cost Accounting Terminology and Relationships
Cost units. Cost centres. Cost classification into direct or indirect by function, or into cost behavior categories. Elements of cost. Coding. Graphical representation of cost / volume relationships.
(2) Costing for Materials
Ordering, receiving, inspection, storage and issue procedures. Documents involved in stores routine. Perpetual inventory records. Continuous stock taking and treatment of discrepancies. Methods of pricing stores issues and effect on reported profits. Maximum stock, minimum stock and re-order levels.
(3) Costing for Labour
Time and output records. Methods of remuneration and effect on unit cost. Payroll preparation and wages analysis. Treatment of overtime premium, shift premium and idle time.
(4) Costing for Overheads
Main sources of total overhead, including depreciation, using a fixed assets register. The calculation of the depreciation charge. Use of production and service cost centres. Allocation. Apportionment. Re-apportionment of service cost centres. Basis for and calculation of absorption rates. Use of absorption rates. Under or over absorption.
(5) Costing methods for:
(6) Marginal Costing
Job, batch and contract. Continuous processes
Normal loss. Scrap value. Abnormal loss or gain. Work-in-progress. Equivalent units. Joint products. By-products.
Provision of services
Service organisations, both internal and external.
Elementary knowledge of the use of contribution for decisions and the effect on stock values and reported profits.
(7) Optional Techniques
Elementary knowledge of budgeting control and standard costing restricted to prime cost variance analysis.
(8) Accounting Systems
Simple examples of integrated accounting systems.
Third Level Cost Accounting
(1) Accounting for Materials, Labour, Overheads and Processes
The calculations of quantity and cost of materials. Yield, using materials from stock, the standard hour, absorption of overheads, activity based costing (ABC). Apportionment of joint process costs.
(2) Stock Control
Use of free stock balance. Calculation and use of economic order quantity (EOQ).
(3) Marginal costing
Distinction from the absorption costing principle, particularly as to the effect on stock valuations and reported profits.
(4) Budgetary control
Relevance and use of contribution as a basis for various decisions, particularly with reference to limiting factors. Opportunity costs. Avoidable costs. Sunk costs. Calculation of break-even points. Break-even charts involving traditional, contribution and profit volume (P/V) presentations. Limitations of break-even analysis.
Preparation and co-ordination of functional, cash and master budgets. Limiting factor. Fixed and flexible budgets.
(5) Standard costing and variances
Setting standard costs. Types of standard. Comprehensive sales and production cost variance analysis, including mixture variances. Calculation and relevance of control ratios - activity, capacity and efficiency.
(6) Accounting Systems
Interlocking and integrated accounting systems. Use of control accounts. Reconciliation and causes of different profits.