Lesson Plan

 

Week

Topics and Readings

1

Introduction: Managerial accounting: A perspective, Cost terms, concepts and classification.

2

Responsibility Accounting and Cost Allocation concepts

3

Responsibility accounting centers and performance reports.

4

Cost Flows and Accumulation

5

The basic cost flow model, Cost accumulation: Merchandising organizations- Manufacturing organizations- Service organizations.

6

Costing Systems: Job order-costing systems, Process costing system, Hybrid product costing system,

7

Cost management systems for new manufacturing environment.

8

 Cost Behavior and Estimation: Cost behavior patterns, Cost estimation methods. Cost – Volume– Profit Analysis:

9

The breakeven point, CVP analysis, CVP with multiple products, Cost structure and leverage analysis.

10

Standard Costing Systems: Standard costs and control, setting cost standards, Overhead application in a standard costing system,

11

 Analysis of cost variances.

12

Differential Cost Analysis: Differential costs versus variable costs, Differential costs versus total costs, Cost analysis for pricing decisions, Make-or-buy decision.

13

Variable Costing: Variable costing versus full absorption costing, Appropriateness of variable costing & full absorption costing methods.

14

Flexible Budgeting: Static budget versus Flexible budget, Sales activity (Volume) Variance, Profit variance analysis, Variable, manufacturing costs variance.

15

Budgeting & Monitoring: Framework of budgeting, The master budget development process.

16

Budgeting in merchandising operations, service enterprising & non-profit organization, Budget under uncertainty, Reports for monitoring.