MCM-601:Managerial Accounting-I M.COM 3rd Reg & S.S. Session 2019-21 Fall/Winter 2020

Introduction to Course:

This course seeks to give an understanding of the ways in which management accountants can provide relevant information for a variety of decisions to be made in managing any organisation. On completion of this course, students should be able to identify, use and interpret the results of costing techniques appropriate to different activities and decisions; formulate and use standards and budgets for planning and control purposes; understand the role of responsibility accounting and performance measurement; understand the behavioural implications of performance measurement and transfer pricing systems in divisionalised businesses; appreciate the need to relate management accounting systems to contemporary thinking about organisational planning and control.

Course Objectives:

Students seeking a career in Business must know the major types of businesses, especially the manufacturing sector and how the accounting is used in this sector for cost calculating which is the basis of all financial decisions in the perfect competition form of market.  This subject provides the principles regarding cost calculation and budgetary process. 

Learning Outcomes:

This course provides an insight regarding the various costing principles and on this foundation cost accounting in different types of production is based.  Later part of the course is regarding the application of management principles to accounting so that business could sustain and flourish. The main objectives of the course are as follows:

  1. Identification and differentiation between financial, cost and managerial Accounting.
  2. Dimensions and use of cost concepts in business.
  3. Accounting for main types of manufacturing businesses.
  4. Accounting for Materials, Labor and Factory Overhead.
  5. Accounting Plans and their implementation.

Course Pre requisits:

Courses in Financial and Cost Accounting

Text Book:

Cost Accounting Planning and Control.

 Matz, Usry and Hammer. Latest Edition

Date & Time of Class:

Monday & Tuesday: Reg:11:00- 12:30 PM      SS:3:30-5:00 PM

Weekly Lesson Plan:

 

Week

Topics and Readings

Page No. From Text Book

1

Introduction, Organization and overview of the course.

The nature, concept and classification of costs.

1-1 to 1-10

2

Cost of goods sold, cost of good manufactured, ,

2-1 to 2-15

3

costing and control of material,

7-1 to 7-20

4

costing and control of labour,

9-1 to 9-25

5

costing and control of factory over head

11-1 to 11-22

6

product cost accumulation systems

6-1 to 6-20

7

Job order Costing

5-1 to 5-15

8

Job Order costing

5-15 to 5-25

Mid Term Exam

 

 

9

Process costing

6-21- 6-30

10

Process costing

Guest Speaker Session

6-21- 6-30

11

Joint product and by product costing

7-1 to 7-20

12

Joint product and by product costing

7-20 to 7-30

13

Budgeting

15-1 to 15-20

14

Budgeting

15-2- to 15-30

15

Direct and absorption costing

19-1 to 19-15

16

Break-even analysis and cost-volume-profit analysis

19-15 to 19-20

Final Term Exam

 

 
 

System of Evaluation:

Individual Class Presentations/Projects*

Group Project                                                       (10%)

Assignments                                                         (5%)

Class Quiz/Case Studies                                       (5%)

20%

Mid Term Examination  (1 hour)

30%

Final Examination (2 hours)

50%

 

100%
 

Course Material

Other Courses by Shahid Mahmood