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Management Accounting for Decision Making

By M S Narasimhan   |   Indian Institute of Management Bangalore
Learners enrolled: 1799
Across organizations, managers are expected to have sound knowledge of finance and accounting. As part of their job, managers use large volumes of information produced by accounting systems to make business decisions every day.

This business and management course will show you how accounting information is relevant to managers, and how it can be processed and analyzed for effective managerial decision-making. By examining accounting information that is extensively used across three key managerial functions of planning, decision-making and controlling, the course equips non-finance managers with basic accounting and finance skills. This course also discusses activity based costing, which provides insight on the cost structure of products and services.

What sets this course apart is the practicing manager-centric approach that is a part of each week of the course. Whether you are a student or a practicing manager, this course will allow you to easily follow all topics and directly apply concepts in practice. 

What you'll learn

  • Basics of Accounting
  • Process Costing
  • Cost Allocation
  • Activity-based-costing
  • Cost Analysis for Decision Making
  • Budgeting
  • Variant Analysis

Summary
Course Status : Completed
Course Type : Core
Duration : 6 weeks
Start Date : 15 Jul 2019
End Date : 31 Oct 2019
Exam Date : 10 Nov 2019
Category :
  • Management Studies
Level : Postgraduate



Course layout

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
Week 2: Product Costing
  • Methods of Product Costing
  • Job Costing
  • Customer Costing
  • Process Costing
  • Treatment of Process Losses
  • Joint and By-products
Week 3: Cost Allocation and Activity Based Costing
  • Indirect Cost
  • Method of Indirect Cost Allocation
  • Misallocation of Indirect Costs
  • Activity-based Costing
  • Implementation of Activity-based Costing
  • Activity-based Management
Week 4: Cost Analysis for Decision Making Module Overview
  • 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
Week 5 : Budgeting
  • Strategic Planning and Budgets
  • Budgeting Process
  • Types of Budgets
  • Benefits of Budgets
  • Approaches to Budget Preparation
  • Preparation of Master Budget
  • Budget Slack
Week 6 : Variance Analysis
  • Setting Standards
  • Variance Analysis: General Framework
  • Variable Overhead Variance
  • Fixed Overhead Variance
  • Material Mix Variance
  • Sales and Sales Mix Variance
  • Investigating Variance

Instructor bio

M S Narasimhan 
Faculty, Finance & Accounting 
Indian Institute of Management Bangalore



Professor MS Narasimhan teaches courses on Management Accounting, Financial Accounting, Corporate Finance and Investments. His areas of interest include Management Accounting, Corporate Finance and Capital Markets. He is a member of the Institute of Cost and Works Accountants of India. He has also completed a study on Corporate Disclosure Practices in India, sponsored under the FIRE project. He has published several articles and research studies in national and international journals and financial newspapers.

Course certificate

25% internal assessment and 75% Final Exam


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