Course Overview
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Course Synopsis
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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.
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Course Learning Outcomes
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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
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Course Calendar
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3
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Financial Statements- 1
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4
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Financial Statements- 2
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5
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Problems in preparation of Financial Statements
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6
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Problems in preparation of Financial Statements Contd. & Inventory Management
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7
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Inventory maintenance & Costing
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8
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Costing & Control Over Material
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9
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Control Over Material & EOQ
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Assignment 1
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10
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Accounting For Losses, Distortions & Source Documents Of Material
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12
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Labor: Payroll & Incentives
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13
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Labor: Piece Rate Base Premium Plans
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Quiz 1
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14
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Labor: Labor Turnover and Labor Efficiency Ratios
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15
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FOH: Allocation and Apportionment of FOH Cost
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16
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Factory Overhead Variances
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Quiz 2
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17
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Factory Overhead Variances Analysis & Activity levels
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GDB
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20
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Process Costing System
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21
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Process costing systen (Contd.)
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22
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Process costing system (Contd.)
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23
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Cost of Production Report (Opening W-I-P Inventory) Cont.
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24
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Cost of Production Report (Opening W-I-P Inventory)
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25
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Valuation of Joint products and By products
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26
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Joint products & By products
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27
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Marginal & Absorption costing
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28
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Marginal & Absorption Costing(Contd)
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29
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Cost Volume Profit Analysis
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31
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Break Even analysis- Margin of safety
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32
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Break Even analysis- Charts and graphs
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33
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Budgeting and its importance
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34
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Production and Sales budget
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Quiz 3
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35
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Production Cost Budget
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36
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Direct Labour and FOH Budget
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37
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Operating Expense Budget and Budgeted income Statement
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39
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Complex Cash and Flexible budget
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41
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Decision making and costing
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44
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Decision Making Contd.
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