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MCO-05-Accounting for Managerial Decisions 

IGNOU via Swayam

Overview

Finance and accounting have assumed much importance in today’s competitive world of business wherein corporate organisations have to show the true and fair view of their financial position. Thus, the application of accounting in the business sector has become an indispensable factor. Cost and Management Accounting’ is very useful for optimum utilization of existing resources. These are branches of accounting and had been developed due to limitations of financial accounting. The course mainly focuses on Cost Accounting and Management Accounting. Cost Accounting provides the detailed cost information that management needs to control current operations and plan for the future whereas Management Accounting provides key insights that help a company's management team make many of their decisions.

Course Credit - 6

Syllabus

COURSE LAYOUT


MCO-05-Accounting for Managerial Decisions

BLOCK 1:FUNDAMENTALS OF ACCOUNTING

WEEK-1:

Accounting: An Overview and Basic Cost Concepts

WEEK-2:

Financial Statements

WEEK-3:

Understanding Financial Statements

BLOCK 2: ANALYSIS OF FINANCIAL STATEMENTS

WEEK-4:

Techniques of Financial Analysis

WEEK-5:

Statement of Change in Financial Position

WEEK-6:

Cash Flow Analysis

BLOCK 3: BUDGETING AND BUDGETARY CONTROL

WEEK-7:

Basic Concepts of Budgeting

WEEK-8:

Preparation and Review of Budgets

WEEK-9:

Approaches to Budgeting

BLOCK 4: STANDARD COSTING

WEEK-10:

Basic Concepts of Standard Costing

WEEK-11:

Variance Analysis-I

WEEK-12:

Variance Analysis-II

WEEK-13:

Responsibility Accounting

BLOCK 5: COST VOLUME PROFIT ANALYSIS

WEEK-14:

Marginal Costing

WEEK-15:

Break Even Analysis

WEEK-16:

Relevant Costs for Decision making

WEEK-17:

Reporting to Management

WEEK-18:

Recent Developments in Accounting

Taught by

Prof. Sunil Kumar

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