Program Outline:

1. Overview of Management Accounting
Differences between Financial Accounting and Management Accounting; Differences between Marginal Costing and Absorption Costing; Concepts of Relevant Costs; The Benefits of Standard Costing and Budgetary Control.

2. Budgeting and Variance Analysis
Interpretation, investigation, and limitations : Labour and materials.

3. Cost Volume Profit (Break Even) Analysis
Cost behaviour; fixed costs; variable costs; semi-variable costs; break even analysis; contribution; margin of safety.

4. Short Term Decision Making
Decision criteria; applications
(a) acceptance of special contracts;
(b) most efficient use of scarce resources;
(c) make-or-buy decisions;
(d) closing or continuance of a section or product.

5. Job Costing for Service Industry
Characteristics of costing systems in the service industry.
Examples of costing methods.

6. Activity Based Costing
Characteristics and applications of ABC with Case examples.