Management accounting is a subject of recent origin which has facilitated the managerial decision making more effectively and efficiently. The tools & techniques of management accounting are very useful for strategic managerial decisions facilitating cost control, profit maximization, organizational planning and control. Innovative costing techniques like ABC and responsibility accounting help the business organizations to sustain in a competitive global scenario and expand their product lines and markets. Management control systems help the businesses to use their scarce resources efficiently and effectively and contribute in the maximization of the firm value
INTENDED AUDIENCE
M.Com, MBA, MFC, CA, ICWA, CS, Working professionals in the area of finance.
INDUSTRY SUPPORT
All companies working in any area would value this course
ABOUT THE INSTRUCTOR
Dr. Anil K. Sharma a Professor in the area of Finance & Accounting in the Department of Management Studies, IIT Roorkee is M. Com and M. Phil, First Class First and Gold Medalist and Ph.D. in Financial Management from Panjab University Chandigarh. He is working at IIT Roorkee for the past more than 17 years and has more than 24 years teaching experience in total. His area of interest is finance and accounting and he has equally goods interest in research in the same area. He has published more than 125 research papers in International and National refereed journals and refereed conferences. He has been awarded best paper award for his paper presented in an international conference in Thailand. He is the editorial board member for three International Journals and reviewer to more than twenty International and national Journals.
Additional information
Institute
IITR
Total hours
30
Certification Process
1. Join the course
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COURSE ENROLMENT FEE: The Fee for Enrolment is Rs. 3000 + GST
2. Watch Videos+Submit Assignments
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3. Get qualified to register for exams
A learner can earn a certificate in the self paced course only by appearing for the online remote proctored exam and to register for this, the learner should get minimum required marks in the assignments as given below:
CRITERIA TO GET A CERTIFICATE
Assignment score = Score more than 50% in at least 9/12 assignments.
Exam score = 50% of the proctored certification exam score out of 100
Only the e-certificate will be made available. Hard copies will not be dispatched.”
4. Register for exams
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EXAM FEE: The remote proctoring exam is optional for a fee of Rs.1500 + GST. An additional fee of Rs.1500 will apply for a non-standard time slot.
5. Results and Certification
After the exam, based on the certification criteria of the course, results will be declared and learners will be notified of the same. A link to download the e-certificate will be shared with learners who pass the certification exam.
CERTIFICATE TEMPLATE
Course Details
Week 1: Management accounting-relevance and rationale, Major differences between Management Accounting, Financial Accounting & Cost Accounting, Historical development of Management Accounting as subject of academic interest, Uses & Applications of Management Accounting in managerial decision making, Cost sheet or statement of cost – Concept & rationale
Week 2: Preparation of cost sheet, Treatment of stock in cost sheet, Budgeting as tool of Management Accounting -Uses & applications, Different types of Budget – Master budget, Flexible budget & cash budget.
Week 3: Master Budget – Methods of preparing master budget, Case studies
Week 4: Master Budget – Case studies (contd), Flexible Budget – Concept & rationale, uses and applications of flexible budgets. Major differences between Master & Flexible budgets, methods of preparing flexible budget
Week 5: Methods of preparing flexible budget, Standard costing – Concept & rationale, Major differences between budgets & standard costing, Tool & techniques of standard costing.
Week 7: Variance analysis – a case study, Marginal Costing – Meaning and rationale, Tools & techniques of Marginal Costing
Week 8: Applications of marginal costing in management decision making
Week 9: Marginal costing – a case study, Activity based costing (ABC) -Concept, Methods/Techniques of ABC, ABC in Manufacturing industry.
Week 10: ABC in Manufacturing industry and service industry
Week 11: Management Control system – Tools & Techniques
Week 12: Responsibility accounting. Concept & Rationale, responsibility centres, goal congruence, managerial efforts and motivation; Controllability and measurement of financial performance, responsibility accounting in service, government and non-profit organizations.
BOOKS AND REFERENCES:
1. Horngreen, C.T., Sundem, G.L. and Stratton, W.O., “Introduction to Management Accounting”, 13th Edition, PHI.
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