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STRATEGIC COST MANAGEMENT AND PERFORMANCE EVALUATION
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Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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CO 194: Describe Modern Business Environment and Strategic Cost Management CO 195: Make use cost management techniques for planning and controlling performance in order to set, monitor and control strategic Course Objectives: s. CO 196: Make use of Budgetary control and standard costing CO 197: Describe in detail Lean System and Innovation, Performance Measurement and Evaluation, Divisional Transfer Pricing, Budgetary Control and Standard Costing CO 198: Make use of Quantitative Techniques for Decision Making CO 199: Describe in Sharam; and Evaluation and Strategic Analysis of Operating Income |
Interactive Lectures, Discussion, Tutorials, Reading assignments. Self-learning assignments, Effective questions, Simulation, Seminar presentation
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Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects |
• Introduction to Strategic Cost Management: Concept of Strategic Cost Management, Limitations of Traditional Cost Management, Traditional vs. Strategic Cost Management
• Modern Business Environment: Introduction/ Characteristics, Cost of Quality, TQM, Business Excellence Model, Throughput Accounting and Theory of Constraints, Supply Chain Management (SCM), Gain Sharing Arrangements, Outsourcing
• Lean System and Innovation: Introduction to Lean System a) Just-in-Time (JIT) b) Kaizen Costing c) 5 Ss d) Total Productive Maintenance (TPM) e) Cellular Manufacturing/ One-Piece Flow Production Systems f) Six Sigma (SS), Introduction to Process Innovation and Business Process Re-engineering (BPR)
• Cost Management Techniques: Cost Control/ Waste Control, Cost Reduction, Target Costing, Value Analysis/ Value Engineering, Pareto Analysis, Life Cycle Costing, Environmental Management Accounting
• Decision Making: Decision Making using CVP Analysis, Decision Making using Relevant Cost Concepts, Decision Making using Activity Based Costing, Ethical and Non-Financial Considerations Relevant to Decision Making
• Pricing Strategies/ Decisions: Theory & Principles of Product Pricing, Pricing – New Product, Finished Products & Pricing of Services, Sensitivity Analysis in Pricing Decisions, Pricing Decision under Special Circumstances, Pricing Strategies
• Performance Measurement and Evaluation: Responsibility Accounting, Linking Critical Success Factors (CSFs) to Key Performance Indicators (KPIs) and Corporate Strategy; Performance Measurement Models‒The Balanced Scorecard, The Performance Pyramid, The Performance Prism and The Building Block Model; Divisional Performance Measures; Benchmarking Schemes, Performance Measurement in the Not-for-Profit Sector, Preparation of Performance Reports
• Divisional Transfer Pricing: Meaning, Purpose and Principles of Transfer Pricing, Methods of Transfer Pricing, The Behavioural Consequences arising from Divisional Structures, International Transfer Pricing
• Strategic Analysis of Operating Income: Operating Profit Analysis, Advanced Activity Based Costing, Activity Based Management (ABM), Activity Based Budgeting (ABB)
• Budgetary Control: The Concept of Feedback and Feed Forward Control, Behavioural Aspects of Budgeting, Behavioural Aspects of Budgetary Control, Beyond Budgeting
• Standard Costing: Analysis of Advanced Variances, Integration of Standard Costing with Marginal Cost Accounting, Reconciliation of Profit, Variance Investigation Techniques, Interpretation of Variances, Possible Interdependence Between Variances and Reporting, Behavioural Aspects of Standard Costing, Limitation of Standard Costing.
• Case Study (covering Course Concepts)
Study Material Published by Institute of Chartered Accountants of India
Scanner-Arun Kumar (Suchitra Prakashan (P) Ltd)
