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COST ANALYSIS AND CONTROL
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Course Outcomes |
Learning and teaching strategies |
Assessment Strategies |
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On completion of this course, the students will be able to: CO 196: Understand the theory of price and its implications, including pricing in recession and below marginal cost. Gain proficiency in utilizing the learning curve theory. CO 197: Analyze transfer pricing methods, decision-making in diverse circumstances, and apply cost reduction and value analysis techniques. CO 198: Apply statistical and operations research techniques for cost control, including inventory models, decision-making under uncertainty, and variance investigation models. O 199: Gain insights into recent cost management developments, including TQM implementation, JIT prerequisites and impact, and life cycle costing strategies and benefits. CO 200: Gain knowledge of process innovation, Business Process Re-engineering (BPR), target costing, and Pareto Analysis, and apply them for improved profitability and cost control. |
Interactive Lectures, Discussion, Tutorials, Reading assignments & Solving Questions. Self learning assignments, Effective questions, Seminar presentation, Giving tasks. |
Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group Projects |
Pricing Decisions
• Theory of price, Pricing under different market structures
• Pricing policy
• Pricing methods: Cost based, Competition Based, Value Based
• Pricing in period of recession, pricing below marginal coat
• Strategic pricing of new products: skimming pricing, penetration pricing.
• Learning Curve Theory
Transfer Pricing
• Utility
• Methods: market based, Cost based and Negotiation based Transfer pricing
• Transfer Pricing Decisions in different Circumstances.
• Cost reduction and Value analysis
Statistical and OR application for Cost Control:
• Decision making under certainty - only Inventory model techniques
• Decision making under uncertainty and risk
• Models for Variance Investigation
Recent Developments In Cost Management
• Total Quality Management(TQM)- Six C’s of TQM, Implementation of TQM, Criticism of TQM,
• Just In Time(JIT): Essential Pre-requisites of JIT system, Impact, Performance measurement, Back-flushing in JIT system.
• Life cycle costing: Product life cycle, life cycle characteristics, strategies, benefits, uses.
Process Innovation and Business Process Re-engineering
• Process innovation, Principles of BPR, Main stages, difference between BPR and PI
• Target Costing- Advantages, main features, components of target costing system, problems with target costing, impact on profitability, target costing control points, implementation of target costing system.
• Pareto Analysis: Usefulness and application
• Jain, Khandelwal &Pareek, Cost Accounting Ajmera Book Company, Jaipur
• Agarwal, Jain, Sharma, Shah & Mangal, Cost Accounting Ramesh Book Depot, Albright, S. C., Winston, W. L., & Zappe, C. (2019). Data Analysis and Decision Making (6th ed.). Cengage Learning.
• Arora, M.N.,Cost Accounting Principles and Practice, Vikas Publication, New Delhi
• Kishore R.M.., Cost Accounting Taxmann’s New Delhi
• Nigam, B.M Lal,& Jain, I.C. , Cost Accounting PHI, New Delhi
• Maheshwari, S.N, Cost Accounting Mahavir Publication
• JawaharLal, Cost Accounting Tata Mcgraw Hill, New Delhi
• Madegowda. J. Cost Accounting Himalaya Publishing House
e RESOURCES:
• https://devlibrary.in/manager ial and cost accounting/
• https://www.icsi.edu/media/website/CostAndManagementAccounting.pdf
• https://books.google.com/books/about/Cost_Accounting_Text_and_Problems.h...
REFERENCE JOURNALS:
• The Indian Journal of Commerce
• FIIB Business Review
Note: The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless
