SyllabusThe subject will cover the following topics: Management accounting functions, terms and cost flows.
Accounting for and control of materials, labour and overhead costs.
Activity based costing for more accurate tracing of overhead costs.
Traditional costing systems: job costing, process costing, operation costing, joint costs, and standard costs.
Alternative costing systems: variable costing, JIT costing, ABC, throughput costing.
Feedforward control: comprehensive budgeting.
Feedback control: theories of motivation, budgetary participation, flexible budgets, and standard cost variances.
Responsibility accounting and accounting controls: organisation structure, responsibility accounting, decentralised organisations, ROI, RI and EVA performance measures.
Multiple performance measures: characteristics of performance measures, use of accounting controls in performance evaluation, contemporary management practices, business process reengineering, total quality management, continuous improvement, benchmarking, costs of quality, time, productivity, flexibility, innovation, the balanced scorecard, application of management accounting tools in international setting. |
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