This course is the first of a two-semester syllabus that enables students to understand and appreciate the principles and practices of costing and costing systems, as well as develop the capacity for systematic and critical thinking as the basis for managerial planning and decision making.  Any student with a good grasp of the Principles of Accounts syllabus or its equivalent is able to pursue the course.  The nature and scope of the course prepares students for the CAPE Advanced-Level Accounting examination, and International Accounting Standards (IAS) are used as the basis for application of principles and the presentation of accounting information.