IT COST MANAGEMENT (4 Credits)

Learning Outcomes:

On successful completion of this course, student will be able to: LO1 – Identify to a solid understanding of the concept of costs, such as direct costs, indirect costs, fixed costs, variable costs, and overhead costs; LO2 – Explain the ABC Principles: Students should grasp the fundamental principles and concepts of activity-based costing, including the identification and classification of activities, cost drivers, and cost pools; LO3 – Construct analysed and interpret variances to identify their causes and implications. They should be able to assess whether variances are favourable or unfavourable and understand the impact of variances on overall performance; LO4 – Identify the develop performance measurement systems that align with strategic cost management objectives. They should learn how to design and interpret performance measures that assess cost efficiency, value creation, and overall organizational performance.

Topics:

1. Divisional financial performance measures;
2. Activity-based costing;
3. Review pert 1 s d 12;
4. Introduction to Management Accounting and Cost Accounting;
5. Joint and by-product costing;
6. Measuring relevant costs and revenues for decision-making;
7. Strategic performance managements;
8. Standard costing and variance analysis 1;
9. Standard costing and variance analysis 2: further aspects;
10. Cost estimation and cost behaviour;
11. Strategic cost management and value creation;
12. Capital investment decisions: the impact of capital rationing;
13. Management control systems;
14. Decision-making under conditions of risk and uncertainty;
15. Transfer pricing in divisional zed companies;
16. Accounting entries for a job costing system;
17. An introduction to cost terms and concepts;
18. Income effects of alternative cost accumulation systems;
19. Review pert 14 Sd 25;
20. Process Costing;
21. Pricing decisions and profitability analysis;
22. Quantitative models for the planning and control of inventories;
23. The budgeting processes;
24. Cost Assignment;
25. Cost–volume–profit analysis;
26. Capital investment decisions: appraisal methods.