Cost and Management Accounting - MBA Program Cost and...

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MBA Program Cost and Management Accounting Course Code: ACT531 Pre-requisite Course: Accounting for Managers WELCOME TO THE CLASS I ntroduction: I look forward to have a fruitful and meaningful interaction with each one of you during the term. This will however depend on your active participation and attention during the class sessions and an active follow up afterwards. C ourse D escription: Cost accounting concepts will be used by manufacturing concern as well as service industry and not for profit organization to work efficiently. Cost accounting is primarily concerned with the accumulation and analysis of information relevant for internal use by managers for planning, controlling and decision making. Management accounting is the process of identifying, measuring, analyzing, interpreting, and communicating information in pursuit of an organization’s goals. Managerial accounting is an integral part of the management process, and managerial accountants are important strategic partners in an organization’s management team. The management team seeks to create value for the organization by managing resources, activities and people to achieve the organization’s goals effectively. C ourse O bjective: Accounting is a language that communicates economic information to people who have an interest in an organization-mangers, shareholders and potential investors, employees, creditors and the governments. Managers require information that will assist them in their decision-making and control activities, for example, information is needed on the estimated selling prices, costs, demand, competitive position and profitability of various products that are
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Cost and Management Accounting - MBA Program Cost and...

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