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MCO-05-Accounting for Managerial Decisions

By Prof. Sunil Kumar   |   Indira Gandhi National Open University
Learners enrolled: 1463
Finance and accounting have assumed much importance in today’s competitive world of business wherein corporate organisations have to show the true and fair view of their financial position. Thus, the application of accounting in the business sector has become an indispensable factor. Cost and Management Accounting’ is very useful for optimum utilization of existing resources. These are branches of accounting and had been developed due to limitations of financial accounting. The course mainly focuses on Cost Accounting and Management Accounting. Cost Accounting provides the detailed cost information that management needs to control current operations and plan for the future whereas Management Accounting provides key insights that help a company's management team make many of their decisions.

Course Credit 

6

Summary
Course Status : Ongoing
Course Type : Not Applicable
Duration : 16 weeks
Start Date : 01 Sep 2021
End Date :
Exam Date :
Enrollment Ends : 30 Oct 2021
Category :
  • Commerce
Credit Points : 6
Level : Postgraduate

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Course layout


MCO-05 (Accounting for Managerial Decisions)

BLOCK 1: FUNDAMENTALS OF ACCOUNTING

WEEK-1:

Unit-1: Accounting: An Overview Unit-2: Accounting: Basic Cost Concepts

WEEK-2:

Unit-3: Financial Statements

WEEK-3:

Unit-4: Understanding Financial Statements

BLOCK 2: ANALYSIS OF FINANCIAL STATEMENTS

WEEK-4:

Unit-5: Techniques of Financial Analysis

WEEK-5:

Unit-6: Statement of Change in Financial Position

WEEK-6:

Unit-7: Cash Flow Analysis

BLOCK 3: BUDGETING AND BUDGETARY CONTROL

WEEK-7:

Unit-8: Basic Concepts of Budgeting

WEEK-8:

Unit-9: Preparation and Review of Budgets

WEEK-9:

Unit-10: Approaches to Budgeting

BLOCK 4: STANDARD COSTING

WEEK-10:

Unit-11: Basic Concepts of Standard Costing

WEEK-11:

Unit-12: Variance Analysis-I

WEEK-12:

Unit-13: Variance Analysis-II

WEEK-13:

Unit-14: Responsibility Accounting

BLOCK 5: COST VOLUME PROFIT ANALYSIS

WEEK-14:

Unit-15: Marginal Costing

WEEK-15:

Unit-16: Break Even Analysis

WEEK-16:

Unit-17: Relevant Costs for Decision making

WEEK-17:

Unit-18: Reporting to Management

WEEK-18:

Unit-19: Recent Developments in Accounting

Books and references

• Study Material on Accounting for Managerial Decisions (MCO-05) of M.Com programme
• Atrill, P., & McLaney, E. (2019). Management Accounting for Decision Makers (6th ed.). Essex, Pearson Education Ltd.
• Atrill, P. and McLaney, E. (2020), Accounting & Finance for Non-Specialists, Financial Times Prentice Hall, Harlow.
• Bhimani, A., Horngren, C.T., Datar, S.M. (2016), Management and Cost Accounting. Financial Times Prentice Hall, Harlow.
• Drury, C. (2020).Management and Cost Accounting (8th ed.). Andover, Cengage Learning EMEA.
• Hansen, D.R. and Mowen, M.M. (2020), Cost Management: Accounting and Control, Thomson Higher Education, Ohio. 

Instructor bio

Prof. Sunil Kumar

Indira Gandhi National Open University
Prof. Sunil Kumar did his Ph.D, M.Phil, and M.Com from University of Rajasthan Jaipur. He has been working at IGNOU for the last 15 years. Prior to this assignment, he worked with GGSIP University New Delhi for about 4 years.  He has been engaged in Teaching, Training, Research and other academic activities. He has published more than 100 Research Papers in reputed International and National Journals. He has presented 23 Research Papers in International and National Conferences. He has been actively involved as Key Note Speaker, Technical Session Chairperson, Guest of Honour, and Resource Person in International and National Conferences. He has been the Resource Person for Academic Staff Colleges of various Universities as well as for the Faculty Development Programmes. He has written more than 65 Chapters/Units in various books and study material of different Universities in the country. He has delivered more than 150 lectures (Live telecast) on Gyan Darshan and Gyan Vani. He has guided 5 Ph.D Research Scholars. He has been on the board of HIPA for imparting the training to Senior Govt. Officers (Class-I) of Haryana Cadre. He has been on the board of Raffles University as Chancellor Nominee. He has been actively involved in the development of academic content with ICAI, ICSI and ICWAI at different capacities. He has been associated with UPSC, UGC, AICTE, NCERT, CBSE, NTA for various academic assignments at different capacities. He is the life member of All India Commerce Congress, All India Accounting Congress and All India Management Association. He has been the Associate Managing Editor of The Indian Journal of Commerce. He has visited France, Sweden, Norway, Denmark, Australia, Newzeland, Holland, Itlay, Germany, Switzerland, Belgium, Bangkok etc. for various academic assignments. He has received Gold Medal for the best research paper award in the year 2014 and Silver Medal for the second best research paper award in 2017.His areas of interest are: Direct Taxes, Tax Planning and Accounting


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