JAIPURIA INSTITUTE OF MANAGEMENT

Post Graduate Diploma in Management

Batch 2022-2024

Course Code and title 10204; Management Accounting and Control

Credits 3
Term and Year III Term, AY 2022-23
Course Pre-requisite(s) Student must have successfully completed the
Accounting for Business core finance course.
Course Requirement(s) Knowledge of Excel
Course Schedule (day and time of As per PMC Time-Table
class)
Classroom # (Location)
Course Instructor
Course Instructor Email
Course Instructor Phone (Office)
Student Consultation Hours
Office location
Course overview

Management Accounting seeks to create value by providing effective tools for planning,
analysis and control, which furnish information that is useful for decision making at all levels
in the organization. The course introduces a number of cost and management accounting
tools and quantitative techniques that can be used to analyze how business processes
consume resources, create value for a firm and its customers, and how this value may be
enhanced through activity and process improvement. Major topics include cost behavior, cost
analysis, profit planning and cost control.

Financial accounting provides information of a firm’s financial condition and results of its
activities through three standard financial statements, i.e., the balance sheet, income
statement and statement of cash flows. Management Accounting is the next phase in
accounting which deals with evaluating the information not provided by financial accounting
and is essentially meant for internal use of management. It incorporates cost accounting with
an aim to ascertain costs, control costs and in the long run reduce costs. This course focuses
on decision facilitating information for improvement in specific decisions such as to set
better prices, to cut costs productively, to plan product mix, or to make better allocation of
resources and has crucial managerial uses for planning, implementing and controlling the
firm’s activities. This course, thus, incorporates the analysis and effect of all relevant
information for improvement in specific managerial decisions.

This course is divided into three modules. Module 1 acquaints students with the concept and
applications of cost and management accounting. Module 2 deals with Cost-volume-profit
analysis and its implications for managerial decision making. Module 3 is accounting for
planning and control of organization and essentially covers budgeting.

This course includes cases to analyze and apply the concepts in practical business problems
involving costing tools followed by class discussion. The case analysis helps students to take
a position, to understand and appraise the arguments of fellow students and to reach to some
 decision.

Course Learning Outcomes (CLOs)

1. Estimate relevant cost components for business decisions.

2. Apply relevant cost information for decision making.
3. Apply management accounting techniques for planning and control.

Mapping of CG-CLO

CG1 CG2 CG3 CG4 CG5

Communicate Demonstrate the Apply relevant Evaluate Awareness of

Effectively Ability to Work in conceptual different ethical impact of business
Teams to Achieve frameworks to a perspectives decisions on issues
Desired Goals given business of social concern
situation

CLO 1 X(I) X(I) X(I)

CLO 2 X(I) X(I) X (R)

CLO 3 X (R)

Mapping of CLOs with PLOs

PLO 1 PLO 2 PLO 3 PLO 4 PLO 5 PLO 6

  Communicate Demonstrate Reflect on Evaluate Comprehend Exhibit

effectively ability to work business different sustainability innovative
in teams to situations and ethical issues and creative
achieve desired apply relevant thinking
perspectives
goals conceptual
frameworks

CLO1 X(I) X(I) X(I)

CLO2 X(I) X(I) X (R)

CLO3 X(R)

NOTE: Attainment of CLO1 and CLO2 (mapped with PLO-1,2,3) can be used for preparing AOL
Report. (Assessment Tool- Group Assignment)

List of Topics/ Modules

Topic/ Module Contents/ Concepts

 Module 1: Introduction to Goals of cost and managerial accounting; Cost classification
Costing for manufacturing and services; Cost Sheet and ABC system.
Module 2: Managerial Cost-volume profit analysis; Use of cost information in
Decision Making decision making; Incremental analysis; Pricing decisions.

Module 3: Tools for Cost Budgetary Planning and control; Standard Cost and Variance
Planning and Control Analysis; Decentralization and Performance Evaluation

Assessment Criteria

Component Description Weigh CLO

t

Quiz Two quizzes will be conducted. One on the 20% CLO-2 (Quiz 1)
topics covered in Module 2 and the other on (10%)
topics covered in Module 3
and
--Quiz will be with multiple choice questions. --
Question bank of minimum 30 questions to CLO-3 (Quiz 2)
be created for a quiz of 10 questions. (10%)
--Individual assessment: Moodle based.
--Pre/In/beyond class: Beyond class
--Feedback: Moodle grades
Group A group project assignment would be given 20% CLO-1, (10%)
Assignment to help the students to develop a business
plan (Including preparation of cost sheet, CLO-2 (10%)
pricing of the product and performing the
CVP Analysis of the product)

Board Room Based on Management Accounting Concepts 20% CLO-2

Simulation from Module-2 i.e. Managerial Decision
Making:

Description: Students to simulate a board

room and discuss the case/scenario assigned
for finding solutions/answers.

Expectation from the students: Student should

be able to use CVP analysis and cost
information for managerial decision making.

Hall It will be hall examination to assess the 40% CLO-1, (20%)

Examination application and analytical ability of the
students. CLO-2, (40%)

CLO-3 (40%)

Total 100%
Text Book

 James, J. Managerial Accounting (6th Edition). New Delhi: Wiley India Pvt. Ltd.

References
 Hansen, D.R. and Mowen M.M. Management Accounting (8th Edition) Delhi: Cengage
Learning.
 Atkinson, A. A., Kaplan, R. S., Matsumura, E. M., Young, S. M., & Kumar, G. A.
(2014). Management Accounting: Information for Decision Making and Strategy
Execution (6th Edition) New Delhi: Pearson Education.
 Horngren, C. T., Sundem, G. L., & Stratton, W. O. Introduction to Management
Accounting. Delhi: Pearson Education.
 Drury, C. Management and Cost Accounting (7th Edition). New Delhi: Cengage
Learning India Pvt Ltd.
Robert N Anthony, David F Hawkins and Kenneth A Merchant Accounting Text and Cases

Internet Resources

 www.accountingcoach.com/
This website has details on all accounting topics. It has an exhaustive glossary of
accounting terms. Apart from explaining various accounting concepts, this website has
host of other interactive tools like Quizzes, Questions & Answers, Crosswords, and
templates to practice the concepts.

 www.aaahq.org
This is the website of American Accounting Association. The American Accounting
Association promotes worldwide excellence in accounting education, research and
practice. This website contains a digital library which has exhaustive archive of
accounting publications. It also has latest accounting news and research articles.

 www.accountingtoday.com
AccountingToday.com is a leading provider of online business news for the tax and
accounting community, offering breaking news, in-depth features, insightful editorial
analysis, and a host of Web-related resources and services. This website would help
students to keep abreast with the latest in the field of accounting.

 www.icwai.org
This is the website of Institute of Cost Accountants of India. It provides updated
information on the Act, Rules and Guidelines to be followed by cost accountants in
India. It also publishes Management accounting guidelines and guidance notes. The
website should be referred to keep abreast with the latest in management and cost
accounting in India.
The students are also advised to read The Economic Times and Business
Today regularly for getting the latest updates.
Session Plan

Session Topic Session Reading/ Pedagogy CLO

Objective/CLO
References

I. Introduction to Costing
1 Goals of Cost Understanding of Text Book Ch.1 CLO1
primary goals of
and Managerial managerial accounting
Pg.2-11 *Discussion
Accounting and knowledge of cost
terms used in
planning, control and
decision making

2 Cost Ability to understand Text Book Ch.2 *Case CLO1

Classification and distinguish Pg.36-46 Discussion
for between product and
Manufacturing period costs, direct
costs and overheads
and Service and types of costing
Companies system

3 Cost Sheet Text Book Ch.2 *Case CLO1

Understanding of how Pg.47-51, 55-57 Discussion
direct costs and
overheads are applied
to jobs

4 Activity Based Text Book Ch.6 *Case CLO1

Costing & its Ability to distinguish Discussion
Application Pg. 218-227
between Traditional
*Exercise for
and ABC methods.
the class
discussion

5 Activity Based Ability to distinguish Text Book Ch.6 *Case CLO1

Costing & its between Traditional, Discussion
Application Pg. 218-227
ABC method, and
*Exercise for
time driven ABC.
the class
discussion

II. Managerial decision Making

6 Cost-Volume- Understand common Text Book * Exercise for the CLO2
Profit cost behavior Ch.4 Pg122- class discussion
Analysis patterns 128
*Case discussion
 Cost-Volume- Understand the Text Book * Exercise for the CLO2
Profit concept of breakeven Ch.4 class discussion
Analysis analysis, Pg.136-149
implications of *Case Discussion
operating leverage
from financial
decision making
perspective and
What if analysis for
decision making

7 Use of Cost Analyze decisions Text Book * Exercise for the CLO-
Information in like additional Ch.7 class discussion 2
Management processing, make or Pg.254-267,
Decision buy and dropping a 273-275 *Case Discussion
Making product line using
cost concepts and
qualitative
considerations

8 Use of Cost Analyze decisions Text Book * Exercise for the CLO-
Information in like additional Ch.7 class discussion 2
Management processing, make or Pg.254-267,
Decision buy and dropping a 273-275 *Case Discussion
Making product line using
cost concepts and
qualitative
considerations

9 Use of Cost Decisions involving Text Book * Exercise for the CLO-
Information in joint costs, allocation Ch.7 class discussion 2
Management of joint costs, Pg.254-267,
Decision Additional 269-271 *Case Discussion
Making processing decisions
and joint costs

10 Incremental Using incremental Text Book * Exercise for the CLO-

Analysis costing and Ch.7 class discussion 2
understanding Pg.254-267
qualitative *Case Discussion
considerations for
decision making

11 Pricing Understanding the Text Book * Exercise for the CLO2

Decision profit-maximizing Ch.8 class discussion
price, fixation of Pg.294-307
prices for a special *Case Discussion
orders and analyzing
customer
profitability, Target
 costing

12 Review & Consolidation of Discussion

Integration learnings

III. Tools for Cost Planning and Control

13 Budgetary Making master and Text Book * Class exercise CLO3
Planning- functional budgets Ch.10 using Excel
Budgets for and use them as a Pg.368-384
Financial tool for planning *Discussion
Planning;
Types of
Budgets

14 Budgetary Explaining why and Text Book * Class exercise CLO3

Control Static how flexible budgets Ch.10 using Excel
vs Flexible help in performance Pg.384-388
Budgets evaluation and *Discussion
planning

15 Standard costs Explain how Text Book * Class exercise CLO3

and Variance standard costs are Ch.11 using Excel
analysis developed and Pg.414-449
calculate and *Discussion
interpret variances
for direct material
and direct labor

16 Standard costs Controllability of Text Book * Class exercise CLO3

and Variance variances: interaction Ch.11 using Excel
analysis among variances Pg.414-449
*Discussion

17 Decentralizati Explain why Text Book * Class exercise CLO3

on and companies go for Ch.12 using Excel
Performance decentralization,
Evaluation: Identify cost centers, Pg.450-467 *Discussion
ROI, RI, EVA profit centers,
investment centers
Calculate and
interpret return on
investment (ROI),
residual income (RI)
and Economic Value
Added (EVA)

18 Performance Explain the potential Text Book *Class exercise CLO3

Evaluation: benefits of using a Ch.12
Balance balance scorecard to Pg.468-472
scorecard access performance, *Discussion
and discuss how a
 strategy map can be
used to communicate
the linkages among
the measures in a
balance score card.

19 Transfer Use the general Text Book *Case Discussion CLO3

Pricing economic rule to set Ch.12
an optimal transfer Pg.474-478
price, Explain how
to base a transfer
price based on
market prices, costs
or negotiations

20 Review & Consolidation of Integrated case CLO1

Integration learnings in the study
entire course CLO 2

CLO 3

Rubrics for Assessment Components

Rubrics for Quiz (20 Marks)

CLO3: Apply management accounting techniques for planning and control. (10 Marks)

Criteria Below Expectations Meet Expectations Exceed Expectations

(less than 40% (More than 40% to (More than 80%

Marks) 80% marks) Marks)

Apply Student is able to Student is able to apply Student is able to apply

management apply few management accounting most management
accounting management techniques for planning accounting techniques for
planning and control
techniques accounting techniques and control
for planning for planning and
and control. control

CLO2: Apply relevant cost information for decision making. (10 Marks)

Criteria Below Expectations Meet Expectations Exceed Expectations

(less than 40% (More than 40% to (More than 80%

Marks) 80% marks) Marks)
 Apply Student is able to Student is able to Student is able to
relevant cost understand and apply understand and apply understand and apply
information very few cost some of the cost most of the cost
for decision components for components for business components for business
making. business decisions decisions decisions

Rubrics for Group Assignment (20 Marks)

CLO1: Estimate relevant cost components for business decisions.

CLO2: Apply relevant cost information for decision making

Rubrics-- Reflect on business situations and apply relevant conceptual frameworks

Criteria▼/ Below Expectations Meets Expectations Exceeds Expectations Maximum

Rating Score
Scale►

Less than 40% Marks Marks 40%-75% More than 75% Marks 12 Marks

Gather Struggles to pinpoint Clearly identifies the Demonstrates a 4

Relevant the information information required. sophisticated
Information needed. Gathers Gathers information understanding of what
information from one from multiple valid information is needed.
(20%)
source. Minimal and reliable sources. Gathers extensive
evidence of Evidence of information from a
search/selection search/selection variety of valid and
criteria. Unable to criteria. Able to reliable sources
reflect and reflect and including journals, texts,
comprehend the understand the etc., specific to the
business situation due business situation subject. Clear evidence
to poor understanding because of the of
of required quality of search/selection criteria.
information information gathered Able to reflect and have
and synthesized a holistic view of the the
business situation based
on extensive information
gathered from a variety
of sources
Select and Has limited Selects and uses Selects and uses 8
Use Relevant knowledge of relevant concepts relevant concepts and
Concepts and selecting and using and frameworks of frameworks for
relevant concepts for security security analysis.
Frameworks
and frameworks for analysis. Requires Needs no assistance in
(80%) security analysis. minimal assistance selecting relevant
Requires extensive in choosing concepts and
assistance in relevant concepts frameworks.
selecting relevant and frameworks. Demonstrates
concepts and Demonstrate outstanding analytical
Frameworks. appropriate ability and exceptional
Demonstrate poor analytical ability logical thinking
analytical Ability & and Healthy
Low Logical Logical Thinking.
Thinking.
Rubrics: Communicate Effectively

Written Communication Maximum

Score
Criteria▼/ Below Expectations Meets Expectations Exceeds Expectation 5 Marks
Rating
Scale►
Less than 40% Marks Marks 40%-75% More than 75% Marks
Clarity Not able to explain Explains points Explains points explicitly with 2
points clearly. Lacks clearly; points relate specific explanatory detail
focus and points put to overall argument. backed up with relevant
forth do not relate to the research/information/examples;
overall/main argument points relate and support the
or idea. overall argument.
Organization Presents information in Presents information Presents information in a 2
a cluttered manner with In a logical sequence. clear and logical order
no logical sequencing or The final point is quite supported by relevant
progression of ideas. clearly brought out. illustrations and examples.

The main point is The final point/conclusion

obscured and not visible is well supported through a
from the report. well- structured set of
arguments.
Content Poor command over Good command over Excellent command over 1
grammar and subject grammar and subject grammar subject matter.
matter. matter.
Covers every dimension of the
Provides irrelevant and Is able substantiate the subject matter and uses relevant
inadequate information to arguments with and comprehensive information
support arguments. relevant and adequate to back up the arguments.
information
reasonably well.

Rubrics: Demonstrate ability to work in teams to achieve desired goals

Criteria▼/ Below Expectations Meets Expectations Exceeds Expectation Max

Rating Score
Scale►

Marks in % (less than Marks in % (40% - Marks in % (more 3

40% ) 60% ) than 60%) Marks

Participation Rarely listens to, shares Usually listens to, Almost always listens to, 1
in Group with, and supports the shares, with, and shares with, and supports
Tasks efforts of others. supports the efforts of the efforts of others.
others.
(Based on peer Often is not a good team Tries to keep people
review) player working well together.

Contribution Rarely provides useful ideas Usually provides useful Routinely provides 1
when participating in a ideas when participating useful ideas when
group task. in a group task. participating in a group
task.
May refuse to participate A strong group member
who tries hard A leader who contributes
a lot of effort
 Attitude Is often publicly critical of Is rarely publicly Is never publicly critical 1
the project or the work of critical of the project or of the project or the
other members of the group. the work of others. work of others.

Is often negative about the Often has a positive Always has a positive
task(s) attitude about the attitude about the task(s)
task(s)

Rubrics for Board Room Simulation

Criterion Below Expectations Meets Expectations Exceeds Expectation

Less than 40% Marks Marks 40%-75% More than 75% Marks

Define the Does not or unable to Adequately defines the States the problem
problem define the problem problem. clearly and identifies
adequately underlying issues.
Develop a plan Unable to develop a Develops an adequate Develops a clear and
to solve the coherent plan to solve plan and follows it to concise plan to solve the
problem the problem. conclusion. problem, with
alternative strategies,
and follows the plan to
conclusion.
Collect and Collects inadequate Collects adequate Collects information
Analyze information to perform information and from multiple sources
Information meaningful analyses. performs basic analyses. and analyses the
information in- depth.

Interpret the Provides an inadequate Provides an adequate Provides a logical

findings and interpretation of the interpretation of the interpretation of the
solve the findings and does not findings and solves the findings and clearly
problem derive a logical solution problem, but fails to solves the problem,
to the problem. provide alternatives. offering alternative
solutions.

Rubrics for End Term Examination (40 Marks)

Criteria Below Meet Exceed Expectations

Expectations Expectations
(71%-100%)
(0-40%) (41% to 70%)

Estimate relevant cost Student is able to Student is able Student is able to

components for understand and to understand understand and apply most
business decisions apply very few and apply some of the cost components for
cost components of the cost business decisions
(MM-8 Marks) for business components for
decisions business
decisions

Apply relevant cost Student is able to Student is able Student is able to apply and
 information for decision apply and assess to apply and assess most of the relevant
making very few relevant assess some of cost information and could
cost information the relevant cost take appropriate business
and could not take information and decisions.
appropriate could not take
(MM-16 Marks)
business decisions. appropriate
business
decisions.

Prepare financial Student is able to Student is able Student is able to prepare

budget for effective prepare budget to prepare budget which includes
planning which has limited budget which is detailed lines for items and
or incomplete partially is well projected over time.
(MM-16 Marks) financial correct. Few
information. Many financial
financial information is
information is missing.
missing.

Time budgeting in course planning:

The table below is an example of the suggested time allocations for this course.
Classes 1-2 hours per week for 12 weeks 15 hours

Reading Prescribed readings and making notes 10 hours

Preparation of set questions, exercises

Provided in the book 10 hours
and problems

Preparation of Project (including the

Analyzing and writing 10 hours
Viva)

Study and revision for test and end of

Self-preparations 7 hours
Trimester examination

TOTAL 52 hours

Institute’s Policy Statements

The student is required to have a clear comprehension of the specific details included in this
document. This course requires a significant commitment in and outside classroom. The
learning tasks in this course include class discussions, exercises & problems and self-study. In
addition, students are required to complete the various exercises.

LMS-Moodle/Impartus
LMS-Moodle/Impartus is used to host course resources for all courses. Students can download lecture,
additional reading materials, and tutorial notes to support class participation.

Late Submission
Assessment tasks submitted after the due date, without prior approval/arrangement, will be not
be accepted. Requests for extension of time must be made with the faculty member concerned
and based on Special Consideration guidelines.

Plagiarism
Plagiarism is looked at as the presentation of the expressed thought or work of another person
as though it is one's own without properly acknowledging that person.
Cases of plagiarism will be dealt with according to Plagiarism Policy of the institute. It is
advisable that students should read relevant sections of Student Handbook for detailed
guidelines. It is also advisable that students must not allow other students to copy their work
and must take care to safeguard against this happening. In cases of copying, normally all
students involved will be penalized equally; an exception can be made if a student can
demonstrate the work as their own and reasonable care was exercised to safeguard against
copying.