Course info

COURSE CODE  :  MCM2C08

COURSE TITLE : ADVANCED COST ACCOUNTING

COURSE OBJECTIVE:

 1. To enable the students to know the applications of Cost accounting tools, Techniques and concepts in managerial decision-making process.

 2. To provide students adequate knowledge of cost management and control techniques and to enable them to apply these for managing business profitably.

Course Outcomes (COs) for Strategic Cost Accounting

1. CO1: Understand Cost Management Concepts
   Demonstrate a thorough understanding of advanced cost accounting principles and their strategic relevance to managerial decision-making.
2. CO2: Analyze Cost Structures
   Analyze and interpret cost structures and behavior to aid in budgeting, cost control, and profitability analysis.
3. CO3: Apply Strategic Costing Techniques
   Apply strategic costing techniques such as Activity-Based Costing (ABC), Target Costing, and Life-Cycle Costing to optimize business processes.
4. CO4: Formulate Business Strategies
   Use cost accounting information to formulate competitive business strategies and make long-term investment decisions.
5. CO5: Evaluate Performance Metrics
   Evaluate organizational performance using key cost and financial metrics, including variance analysis, balanced scorecard, and benchmarking.
6. CO6: Enhance Decision-Making Skills
   Enhance decision-making by integrating cost data with other financial and non-financial information for strategic planning.
7. CO7: Implement Sustainable Practices
   Incorporate sustainability and ethical considerations into cost accounting and strategic business decisions.
8. CO8: Develop Problem-Solving Abilities
   Solve complex cost management problems using analytical tools, software, and frameworks such as cost-volume-profit (CVP) analysis and regression analysis.