ADVANCED MANAGEMENT ACCOUNTING (4 Credits)

Learning Outcomes:

On successful completion of this course, student will be able to: Appraise the role of management accountants in an organization; Identify manufacturing cost, non manufacturing cost, and classify service department cost to other operating departments/units using the cost behavior concept; Calculate the break-even-point and use activity-based costing and management, JIT, target costing techniques to compute unit product cost; Analyze job order cost sheet, cost of production report, and financial budget for organization; Construct balance scorecard and analyze the most profitable use of a constrained resource and the value of obtaining more of the constrained resource; Interpret the model of management accounting in strategic decision making.

Topics:

1. Managerial Accounting and Global Business Environment, Cost Concept and Cost Behavior;
2. Product Costing;
3. Activity-Based Costing (ABC);
4. Activity-Based Management (ABM);
5. Cost-Volume-Profit Relationship;
6. Variable Costing: A Tool for Management;
7. Profit Planning and Flexible Budgets;
8. Balance Scorecard;
9. JIT (Lean Accounting), Cost of Quality, and Target Costing;
10. Investment Centers and Transfer Pricing;
11. Relevant Cost for Decision Making;
12. Cost Allocation and Joint Costs;
13. Environmental Cost Management.