To develop skills in the students to analyse and interpret accounting data for managerial use. To acquaint students of management with the fundamentals of accounting by using accounting information in managing an organization. The application of managerial accounting to a variety of organizations. Managerial accounting is part of an organization’s management information system. Managers rely on mail accounting information to plan and control an organization’s operations. It plays a vital role in the overall management process. The course further explores the many concepts and tools used in managerial accounting for decision making, planning and control.
1: Introduction plan, evaluate, control, accountability IFAC/FMAC view distinction between management and financial accounting.
2: Cost concept and classification historical, sunk, future, fixed, variable, semi-variable, out of pocket, avoidable, postponable.
3 :Absorption and marginal cost fundamental differences between absorption and marginal costing. direct costing. Treatment of fixed costs. break-even analysis, key factors advantages and disadvantages of marginal costing.
4: Project appraisal capital expenditure evaluation techniques.
5: Transfer pricing system autonomy/goal congruence. multinational companies, transfer price, cost-based transfer price, market based transfers price. dual pricing techniques.
6: Opportunity cost and decision-making characteristics of opportunity cost alternatives, escapable, non-escapable costs, relevant costs step-by-step identification, processing and solution of problems having alternative courses.
7: Divisionalisation and performance evaluation performance evaluation. Return on investment, residual income. Cash flow measures, Solomon's views responsibility accounting, cost reports.
8: Pricing decision-determining prices. Cost based pricing, market based price, desired rate of return on investment, contribution margin, trade discounts, overall profitability of the firm. Return for risk of enterprises.
9: Learning curve definition, the learning curves. Utility, limitation, application.
10: Cost reduction and cost control cost reduction plan, establishment of climate, standard, organizing reporting system, operating the system, plan for cost reduction.
11: Linear programming meaning and objectives of linear programming, major requirements, techniques.
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