The course aims to give knowledge to the student about the understanding of the basic concept of performance management. In this course, we study the basic concept of cost, its method, CVP analysis, absorption and variable costing, valuation, break-even Analysis, performance Measurement and Control, performance management and information system. This course help students to develop knowledge and skills in the application of management accounting techniques to quantitative and qualitative information for planning, decision-making, performance evaluation, and control. This will help the students in selecting the elective courses in finance and ultimately in selecting their career.
Upon successful completion of this class, you are expected to:
CLOs 1. Identify and discuss the information, systems and developments in technology required for organizations to manage and measure performance.
CLOs 2. Explain and apply advance cost accounting techniques in a business organization to get the maximum from the operations.
CLOs 3. Select and appropriately apply decision-making techniques to facilitate business decisions and promote efficient and effective use of scarce business resources, appreciating the risks and uncertainty inherent in business and controlling those risks.
CLOs 4. Identify and apply appropriate budgeting techniques and methods for planning and control and use standard costing systems to measure and control business performance and to identify remedial action.
CLOs 5. Assess the performance of an organization from both a financial and nonfinancial viewpoint, appreciating the problems of controlling divisionally businesses and the importance of allowing for external aspects. Also evaluate the role of performance management in the non profit organization and public organization.