Management Accounting for Decision Making
Week 1: Introduction to Management Accounting
- Financial and Cost Accounting
- Basic Cost Terms and Cost Flow
- Costing System
- Preparation of Cost Sheet
- Costing in Service Industry
- Preparation of Cost Sheet in Service Industry
- Financial, Cost and Management Accounting
- Methods of Product Costing
- Job Costing
- Customer Costing
- Process Costing
- Treatment of Process Losses
- Joint and By-products
- Indirect Cost
- Method of Indirect Cost Allocation
- Misallocation of Indirect Costs
- Activity-based Costing
- Implementation of Activity-based Costing
- Activity-based Management
- Absorption vs Marginal Costing
- Behavior of Cost
- Break-even Analysis
- BEP in Multiproduct Environment
- Pricing Decision
- Make or Buy Decision
- Discontinuing Product or Closing Down Divisions
- Optimal Product mix
- Operating Leverage
- Strategic Planning and Budgets
- Budgeting Process
- Types of Budgets
- Benefits of Budgets
- Approaches to Budget Preparation
- Preparation of Master Budget
- Budget Slack
- Setting Standards
- Variance Analysis: General Framework
- Variable Overhead Variance
- Fixed Overhead Variance
- Material Mix Variance
- Sales and Sales Mix Variance
- Investigating Variance
