MGT402 : Cost & Management Accounting

Course Overview

Course Synopsis

This course focuses on the prerequisite and use of management accounting information for planning, control and decision making. The course encourages an understanding of the management accounting function within an organization by taking a business value sequence perspective. The process of budgeting (operational and financial) and standards as an aid to management in planning and controlling business activities is explored. It will help in analyzing cost behavior, absorption and variable costing, a study of the principles of job and process costing systems, the application of activity based costing, as well as other facets of management accounting which support decision making.

Course Learning Outcomes

At the end of the course, you should be able to:

  • Explain the role of management accounting within an organization
  • Describe costs by classifications and purpose
  • Identify appropriate material, labor and expense costs
  • Application of principles of costing in straightforward scenarios
  • State the cost factors affecting production and pricing decisions

Course Calendar

Cost Classification And Cost Behavior1Handouts1 - 10
Important Terminologies2Handouts11 - 14
Introduction to Financial Statement3,4Handouts15 - 29
Problems in Preparing of Financial Statements5,6Handouts30 - 39
Quiz No. 01
Material7Handouts40 - 49
Control Over Material8Handouts50 - 55
Economic Ordering Quantity9Handouts56 - 59
Accounting For Losses10Handouts60 - 68
Labor11Handouts69 - 80
Payroll And Incentives12Handouts81 - 93
Piece Rate Base Premium Plans13Handouts90 - 95
Labor Turnover And Labor Efficiency Ratios & Factory Overhead Cost14, 15Handouts96 - 104
Quiz No. 02
Allocation And Apportionment of FOH Cost16Handouts105 - 108
Factory Overhead Cost(Apportionment& Variance Analysis)17Handouts109 - 123
Job Order Costing System18Handouts124 - 132
Process Costing System(An Introduction)19Handouts131 - 135
Process Costing System (Practice question)20Handouts136 - 138
Process Costing System (Continued)21,22Handouts139 - 144
Mid Term Examination
Process Costing System (Opening Balance Of Work In Process)23,24Handouts145 - 152
Costing/Valuation Of Joint And By Products25,26Handouts153 - 163
Marginal And Absorption Costing (Product Costing)27Handouts164 - 167
Marginal And Absorption Costing (Product Costing)28Handouts168 - 178
Cost Volume Profit Analysis(Contribution Margin Approach)29Handouts179 - 182
Cost Volume Profit Analysis (Break-Even Approach)30Handouts183 - 186
Break even Analysis-Margin of Safety31Handouts187 - 192
Break even Analysis – Charts And Graphs32Handouts193 - 198
What Is A Budget33Handouts199 - 202
Production & Sales Budget34Handouts203 - 206
Production Cost Budget35Handouts207 - 209
Direct Labour and Factory Overhead Budget36Handouts210 - 210
Operating Expense Budget and Budgeted Income Statement37Handouts211 - 212
Cash Budget38Handouts213 - 214
Complex Cash Budget & Flexible Budget39Handouts215 - 222
Flexible & Zero Base Budgeting40Handouts223 - 229
Decision Making In Management Accounting41Handouts230 - 232
Decision Making42Handouts233 - 237
Decision Making43Handouts238 - 244
Decision Making Choice Of Product (Product Mix) Decisions44,45Handouts245 - 252
NOTE: Post-Mid semester activites will be announced after Mid-Term Exams
Final Term Examination
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