Advanced Management Accounting Eiilm University-Books Pdf

ADVANCED MANAGEMENT ACCOUNTING EIILM University
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Subject ADVANCED MANAGEMENT ACCOUNTING Credits 4, Concept of Management Accounting. Concept Tools of Management Accounting Installation of Management Accounting System Role of the. management Accountant Management Accounting as a career Revision of Some Basic Cost Terms and. Concepts Cost Unit Cost Centre Profit Centre Different Types of Costs and its Classification viz Fixed. Variable Semi variable Direct Indirect Marginal Out of Pocket Differential Sunk Costs Opportunity Cost. Replacement Cost Joint cost Conversion Cost Discretionary Costs Committed Cost Cost Tracing Cost. Allocation Cost Driver Historical Costing Absorption Costing Marginal Costing Standard Costing Uniform. Analysis and Interpretation of Financial Statements. Essentials of Good Financial Statements Tools of Financial Analysis Comparative Financial Statements. Common size Statements Trend Analysis Statement of changes in Working Capital Funds Flow Cash Flow. Ratio Analysis Basics of Working Capital Management Working Capital Requirement Forecast Important. Working Capital Ratios, Management Accounting and Managerial Decision Making. Decisions Making Decisions Involving Alternative Choices Pricing Decisions Need for Revision of Budgets. Revision of Standards Concept of Limiting Budget Factor Divisional Performance Appraisal Meaning of. Divisions Reasons for Divisionalisation Measurement of Divisional Performance ROI Approach Residual. Income Approach Concept of Transfer Price Different Bases of Formulating Transfer Prices Market Based. Cost Based Shadow Price Based, Behavioral Aspects of Control MIS Reporting and Management Audit. The Concept of Group or Social Control Behavioral Theories Relating to Control Some Behavioral. Implications of Control through Budgets Selection of a Proper Control Strategy Concept of MIS Developing a. Management Information and Reporting System Levels of Management and their Information Requirements. Objectives of Management Audit Distinction between Different Types of Audit Conducting Management. Contemporary Issues in Management Accounting, Target Costing Responsibility Accounting Inflation Accounting Activity Based Costing Quality Costing. Human Resource Accounting Value Added Accounting Life Cycle Costing Product Life Cycle Costing. Project Life Cycle Costing Management Accountant s Role in Lifecycle Costing Value Chain Analysis. Suggested Readings, 1 Management and Cost Accounting Drury C Thomson Business Press.
2 Accounting for Non Accounting Students Dyson J R. MANAGEMENT, ADVANCED MANAGEMENT ACCOUNTING, ACCOUNTING. COURSE OVERVIEW, There are three strands to the course. We focus on the developments of formal Finance based. management accounting theory, We consider contemporary cost management issues including. activity accounting strategic cost analysis and management. accounting in the digital economy, We adopt a strategic and organisational perspective to planning. and control systems design, These different approaches provide complementary apprecia.
tions of the management process in modern organisations. Some of the subject matter of the course will be dealt with. across the three strands illustrating the conceptual richness of. modern management accounting The synthesis reconciliation. and explanation of different views is an important aspect of the. At the conclusion of the semester you are expected to. 1 Have a fundamental understanding of mainstream, management accounting topics and their practical. applications, 2 Be able to effectively use quantitative tools to provide timely. information to decision makers, 3 Be able to grasp critical variables in decision making scenarios. and apply the appropriate analyses to make the right. 4 Be able to do well in group discussion settings and to. communicate your ideas and thoughts effectively and. 5 Do well in all aspects of this course receive a good grade. ADVANCED MANAGEMENT ACCOUNTING, MANAGEMENT, CONCEPT OF MANAGEMENT ACCOUNTING. Lesson No Topic Page No, Lesson 1 Introduction to Management Accounting 1.
ACCOUNTING, Lesson 2 Designing Installation of Management Accounting 6. Lesson 3 Role of Management Accounting 10, Lesson 4 From the Web 13. Lesson 5 Marginal Costing 16, Lesson 6 Budgetary Control Standard Costing 21. Lesson 7 Basic Cost Concepts 26, Lesson 8 Practical Applications Case Study 30. ANALYSIS AND INTERPRETATION OF FINANCIAL STATEMENTS. Lesson 9 Financial Statement Analysis 33, Lesson 10 Techniques of Financial Analysis 37.
Lesson 11 Statement of Change in Financial Position 42. Lesson 12 Cash Flow Stattement 48, Lesson 13 Working Capital Management 52. Lesson 14 15 Financial Ratio s 59, MANAGEMENT ACCOUNTING AND MANAGERIAL DECISION MAKING. Lesson 16 17 Decisions Involving Alternative Choices 73. Lesson 18 19 Divisional Performance Appraisal 85, Lesson 20 21 Transfer Pricing 93. Lesson 22 Case Study 102, BEHAVIORAL ASPECTS OF CONTROL MIS REPORTING AND MANAGEMENT AUDIT. Lesson 23 Behavioural Aspect of Control 103, Lesson 24 26 Management Information System 109.
Lesson 27 Introduction to Audit 125, Lesson 28 Audit Its Types 129. Lesson 29 Management Audit 134, Leson 30 Case Study 139. Lesson 31 Practical Application of Concepts Under Study Unit 4 140. CONTEMPORARY ISSUES IN MANAGEMENT ACCOUNTING, Lesson 32 Target Costing 141. Lesson 33 Responsibility Accounting 147, Lesson 34 35 Inflation Accounting 152. Lesson 36 Activity Based Costing ABC 162, ADVANCED MANAGEMENT ACCOUNTING.
MANAGEMENT, Lesson No Topic Page No, Lesson 37 Quality Costing 168. ACCOUNTING, Lesson 38 Human Resources Accounting 170. Lesson 39 Value Added Accounting 181, Lesson 40 Life Cycle Costing 187. Lesson 41 Value Chain Analysis 192, INTRODUCTION TO MANAGEMENT ACCOUNTING. MANAGEMENT, Learning objectives involved in strategic planning e g the setting of objectives.
and the formulation of policy The forecasting process will. After studying this chapter you should be able to, involve accounting for uncertainty risk via statistical tech. Explain terms such as management accounting cost accounting and niques such as probability etc. financial accounting, 4 Communications If the management accounting system is. ACCOUNTING, Explain the main features of management accounting to be really effective it is essential that it goes hand in hand. Differentiate between management accounting and financial accounting with a good sound reliable and efficient communication. Introduction system Such a system should communicate clearly by. Managers use management accounting information to choose providing information in a form which the user i e. strategy to communicate it and to determine how best to managers and their subordinates can easily understand. implement it They use management accounting information to reports statements tabulations graphs and charts. coordinate their decisions about designing producing and However great care should be taken to ensure that managers. marketing a product or service do not suffer from information overload i e having too. much information much of which they could well do, What is Management Accounting without. Management accounting is very closely linked to cost accounting. 5 Systems The management accounting department section. so closely in fact that it is difficult to say where cost accounting. will also be actively involved with the design of cost control. ends and where management accounting begins Cost account. systems and financial reporting systems, ing simply aims to measure the performance of departments.
goods and services However management accounting is much 6 Flexibility Management accounting should be flexible. much more and involves enough to respond quickly to changes in the environment in. which the company organization operates Where necessary. 1 The provision or information for management Indeed. information systems should be amended modified Thus. the role of the management accountant could well be. there is a need for the management accounting section. described as that of an information manager The, department to be involved with the monitoring of the. information generated should be designed to assist. environment on a continuing basis, management to control business operations and to help. management with decision making In fulfilling this role the 7 An appreciation of other business functions Those who. management accounting department section must consult provide management accounting information need to. with the users of the information i e management to understand the role played by the other business functions. assess its needs in terms of precisely what information is In addition to communi cating effectively with other. required and when etc The aim is to provide management business functions they also need to secure their cooperation. with a flow of relevant information e g reports statements and coordination e g the budget preparation process relies. spreadsheets etc as and when required A frequent flow of on the existence of good communica tions cooperation and. information weekly or monthly should enable coordination. management to respond to emerging problems situations. as soon as possible The early detection of problems means. earlier solutions early action, 2 Advising management A key part of management. accounting is to advise management about the economic. consequences and implications of its proposed decisions. and alternative course of action In particular this advice External environment. should answer a frequently overlooked question What. happens if things go wrong If interest rates go up Or if. the sales target is not achieved, 3 Forecasting planning and control A lot of management. Figure 1 1, account ing is concerned with the future and predetermined.
systems such as budgetary control and standard costing Such 8 Staff Education The management accounting department. systems investi gate the differences i e variances which arise section needs to ensure that all the users of the information. as a result of actual performance being different from it provides e g managers and their subordinates are. planned performance in terms of budgets or standards In educated about the techniques used their purpose and their. addition the management accountant should also be benefits etc. 9 Gate keeping The management accounting department stores information in a way that allows managers to access the. section sits at a very important information junction see information that each needs. Figure 1 1 This gate keeping position places the Management accounting and financial accounting have different. management accounting section in a position of power it goals Management accounting measures and reports financial. has access to can send information to and from and non financial information that helps man agers make. MANAGEMENT, management and subordinates and communicates with and decisions to fulfill the goals of an organization Managers use. receives a certain amount of information from the external management accounting information to choose communicate. environment Its power arises because it can control the flow and implement strategy They also use management accounting. of information upwards to management or downwards to information to coordinate product design production and. subor dinates marketing decisions Management accounting focuses on. 10 Limitations Although management accounting can and internal reporting. ACCOUNTING, does provide a lot of useful information it must be Financial accounting focuses on reposing to external parties. stressed that management accounting is not an exact science It measures and records business transactions and provides. A vast amount of the information generated depends upon financial statements that are based on gener ally accepted. subjective judgment e g the assessment of qualitative accounting principles GAAP Managers are responsible for the. factors or assumptions about the business environment financial statements issued to investors government regulators. Management accounting is not the be all and end all of and other parties outside the orga nization Executive compen. decision making it is just one of the tools which can help sation is often directly affected by the numbers in these. management to make more informed decisions finan cial statements It is not difficult to see that managers are. 11 Being the servant Finally having established that interested in both management accounting and financial. management accounting is a tool it must be emphasized accounting. that it is there to serve the needs of management Cost accounting provides information for management. Managent Accounting Financial accounting and financial accounting Cost accounting measures. Accounting and Cost Accounting and reports financial and no financial informa tion relating to. Accounting systems take economic events and transitions that the cost of acquiring or utilizing resources in an organization. have occurred and process the data in those transactions into Cost accounting includes those parts of both management. information that is helpful to managers and other users such as accounting and financial accounting in which cost information is. sales representatives and production supervisors Processing any collected or analyzed. economic transaction entails collecting categorizing summariz The internal reporting external reporting distinction just. Management and Cost Accounting Drury C Thomson Business Press 2 Accounting for Non Accounting Students Dyson J R ii ADVANCED MANAGEMENT ACCOUNTING There are three strands to the course First We focus on the developments of formal Finance based management accounting theory Second We consider contemporary cost management issues including activity accounting strategic cost analysis and

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