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The University of Lahore

Lahore Business School

Cost & Management Accounting
Master of Business Administration
Semester: Spring 2016
Instructor: ____________________
_____________________________
Course Code: MACC3014
03 hrs

I.

Email:
Course Cr. Hrs.:

Course Description:
Cost accounting provides key data to managers for planning and controlling, as well
as data on costing products, services, and customers. By focusing on basic concepts,
analyses, uses, and procedures instead of procedures alone, we recognize cost
accounting as a managerial tool. Cost accounting will derive the analytical skills of
the student and they will analyse the situations given to them and make decisions on
rational basis to minimize cost and assure quality.
The second part of the course presents alternative methods of preparing managerial
accounting information, and the remainder of the course examines how these
methods are used by companies. Managerial accounting is a company's internal
language, and is used for decision-making, production management, product design
and pricing and for motivating and evaluating employees. Unless you understand
managerial accounting, you cannot have a thorough understanding of a company's
internal operations. What will be learnt in this course will help to understand the
operations of your future employer (and enable you to be more successful at your
job), and help you understand other companies you encounter in your role as
competitor, consultant, or investor.
The course has been designed to give students an understanding of different types of
costs associated with manufacturing companies (and might be service providing
companies). It gives knowledge about basic costing principles along with preparation
of cost of goods manufactured & cost of goods sold statement. It will help students in
knowing how break-even is calculated using CVP Analysis and how it helps in decision
making. It will also help them in learning “Job Order Costing” & “Process Costing
Techniques.”

II.

Learning Outcome:
Upon successful completion of this course; the student will have the ability to:



Explain the terminology, basic concepts and principles of cost accounting;
Purpose of cost accounting to the organization;
Apply cost accounting theory to problem solving;
Prepare data for managers of companies;
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Inc. instructor will facilitate students by providing hand-outs and other reading material (for details –refer lesson plan) V. A proactive attitude having good commitment with job/work. 32 sessions (for details – please refer lesson plan)   VI.google. ISBN-13: 978-0-13-210917-8 Additional Resources:  Harvard Business Review (Available in Library)  International Journal of Managerial and Financial Accounting (Online)  Financial Times (Online and available in library)  Business Recorder  www. Effective negotiation skills to try to find a best situation. Effective cost management skills. Apply the steps involved in the accumulation of total cost in different departments. Training Methods: In addition to lecturettes. 14th edition. Self-confidence and a culture of respect. Ability to withstand pressure in critical situations. Datar and Madhav V. publishing as Prentice Hall. Course Material: Recommended Textbook: Cost Accounting: A managerial emphasis by Charles T. Horngren. Excellent interpersonal skills for better management.       III. 8 Activities 4 class discussions Evaluation Criteria: Page 2 of 4 .. Copyright 2012. Analyze data and prepare cost of production reports for process costing. Prepare to solve daily costing problems in production or services sector. the instructor will also use following training methods during 16 weeks semester. Srikant M. Soft Skills and Personal Effectiveness: The aim of this course is to make students possess:        IV. Prepare cost of production and cost of goods sold statements for onward reporting to financial statements. Discuss options in strategic decision-making by applying management accounting concepts. Effective organisation skills both in personal as well as professional life. Able to understand costing process of an organization and make rational decisions.com Note: In addition to above. Rajan published by Pearson Education. Analyze transactions and prepare accounting entries for job costing and process costing.

Consultation hours are as follows: Monday & Wednesday 08:30 AM to 10:30 AM Thursday & Thursday 08:30 AM to 10:30 AM Friday 11:15 AM to 01:15 PM Page 3 of 4 . Week-wise Content Break-up: Wee k 1. VIII. if any query is missed during those times. 2 3. 4 5 6 7. 15 16** Process Costing Activity Discussion Variance Analysis Discussion END TERM EXAM ** Note: Last lecture before mid and end term exams will be a revision session. Consultation Protocol: All relevant inquiries will be encouraged and it is highly advisable to ask them during lecture or consultation time. 10 Cost. 13 Job Order Costing Activity 14. However. Volume & Profit Analysis (CVP) Activity 11 Factory Overheads Activity Discussion 12. 8** Contents Introduction to Cost Accounting Training Method(s) Used Discussion Cost of Goods Manufactured & Sold Statement Cost of Goods Manufactured & Sold Statement with adjustments Inventory Costing Methods Activity Activity Activity Activity Discussion Economic Order Quantity MID TERM EXAM 9. please ask via email.Quizzes (minimum 5) 15 Assignments (minimum 5) 10 Class Participation 10 Mid Term Exam 25 Final Exam 40 Total 100% VII.

Page 4 of 4 .Important Note: This course outline works under general policy guidelines and rules & regulations of the university.