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Alwar (Rajasthan) Management Accounting & Control COURSE HANDOUT Term: First Course No: FIN 501 Session: Course Title: 2011-2012 Management Accounting & Control

Credit: 3 Course In Charge: Harish Gaur __________________________________________________________________________ Course Description and learning outcomes A Course Description

This course aims to develop students' ability to read, understand, and use corporate financial statements. The course is oriented toward the user of financial accounting data (rather than the preparer) and emphasizes the reconstruction and interpretation of economic events from published accounting reports. The focus of the second part of this course is on understanding the many ways that firms account for, manage, utilize, and control costs. Included in this are discussions of inter-departmental allocations, joint costs and capacity costs, as well as the use of activity-based analyses in various settings. The stress will be on the process of identifying relevant costs for short-run and long-run decision making, and for carrying out product and customer profitability analyses. The course also examines the process of evaluating the performance of firms and their business units. Included in this are issues related to transfer prices and measures of productivity. Students will also study the optimal choice of metrics for evaluating performance, and analyze the rationale behind the balanced scorecard. B Learning outcomes

Understand and appreciate accounting mechanics, process and systems, concepts and their managerial implications; Understand financial statements and principles underlying them as well as develop their skills in analyzing annual reports; Understand and appreciate cost records / statements and principles underlying them and also develop their skills in understanding and appreciating cost information. Understand and appreciate cost and management accounting mechanics, process and system, concepts and their managerial implications. Appreciate the utility of cost information as a vital input for management information and decision making process. Evaluate and recommend appropriate control systems for the management of organizations; Evaluate the control of activities and resources within the organization; Recommend ways in which the problems associated with control systems can be avoided or solved; Evaluate the appropriateness of an organizations management accounting control systems and make recommendations for improvements.

Detail Session Plan Sr. No Topic Management Accounting & Control--Overview & Process Reading : Chapter 1 Management Accounting MY Khan Chapter 1-Financial Accounting for Management N Ramachandran Financial Statements-- Balance Sheet & Income Statement Reading : Chapter 4 Management Accounting MY Khan Chapter 2,3-Financial Accounting for Management N Ramachandran Process of Accounting System & Final Accounts Reading : Chapter 3 Management Accounting MY Khan Chapter 5-Financial Accounting for Management N Ramachandran Cash Flow Statement Reading : Chapter 5 Management Accounting MY Khan Chapter 4 -Financial Accounting for Management N Ramachandran Understanding Annual Report Analysis of Financial Statements Reading : Chapter 6 Management Accounting MY Khan Chapter 7-Financial Accounting for Management N Ramachandran Accounting Standards & Common issue in Accounting Records Company Act 1956 Chapter 8-Financial Accounting for Management N Ramachandran Review Cost And Management Accounting --Overview and Cost Behavior Reading : Chapter 7 Management Accounting MY Khan Marginal Costing and CVP Analysis Reading : Chapter 16 Management Accounting MY Khan Relevant Cost and Differential Costing-Decision Making Reading : Chapter 16,22 Management Accounting MY Khan Process ,Joint Product and By Product Reading : Chapter 14 Management Accounting MY Khan Budgetary control, Profit Planning Variance Analysis (Standard costing)Material, labor and overhead Reading : Chapter 18-19 Management Accounting MY Khan Inventory Management, JIT & Cost Audit Activity Based costing, Target Costing Reading : Chapter 12 Management Accounting MY Khan Review No. of lectures

4 5

2 1

7 8 9 10 11 12 13 14 15 16 17

1 1 1 3 2 2 1 3 1 2 1

Evaluation Scheme Evaluation Instruments Mid Term Exam -1.5 Hour Comprehensive Exam-3 hour Quizzes Assignments/Projects and presentation Class Participation Date TBA TBA Surprise TBA Regular Weightage 20% 40% 15% 20% 5%

Note: Assignments will be given for Balance sheet, P/L, Cash Flow Statement, Ratio Analysis, BEP Analysis, Variance Analysis, ABC, and Inventory Methods. List of Case Studies 1. 2. 3. 4. Private Fitness LLC A Note to Ratio Analysis Prestige Telephone company Standard Tile Company

Make up Policy Students who are likely to miss a component of evaluation on a genuine reason may be given a make-up of that component by the Course-in-charge. The students are required to approach the Course in-charge immediately for the same before the conduct of the evaluation component. It is the responsibility of the student to approach the Instructor-in-charge. The Course Instructor-in-charge may grant up make-up to the students who could not attend the component of evaluation on GENUINE REASON and conduct the make-up within 10 days of the scheduled date. The decision of the Course Instructor-in-charge in this matter shall be final. Grading Policy The Marks obtained in all the components of Evaluation shall be totaled and the final marks shall be converted in the letter grades, namely, A, B, C, D and F (= Fail). The students who obtain F Grade shall repeat the course in the next offering of the course in the coming Trimester.

List of books Text Book: 1 2 FINANCIAL ACCOUNTING FOR MANAGEMENT, N Ramachandran et al, Tata McGraw Hill Publications, New Delhi MANAGEMENT ACCOUNTING, Khan-M Y, Tata McGraw Hill, New Delhi

Reference Books: 1 2 INTRODUCTION TO MANAGEMENT ACCOUNTING, Horngren, Charles T., PHI, New Delhi ACCOUNTING : TEXT & CASES, Anthony Robert N., Tata McGraw Hill Publications, New Delhi

Contact Detail: The students are free to approach on weekdays from Monday to Friday for any clarification or removal of their difficulties. The contact detail is Harish Gaur Ext.no. 2448 Email- harish.gaur@niituniversity.in