Authorised by Academic Registrar, April 1996
Objectives On completion of this subject students should be able to understand the nature and role of costs in financial planning and decision making; prepare profit plans using cost-volume-profit analysis techniques; develop and analyse integrated master budgets from marketing and sales plans; use discounted cash flow techniques to evaluate strategic plans; understand the problems of managing working capital and liquidity; apply and interpret variances from standards used to control costs; understand the techniques used to evaluate divisional performance.
Synopsis Topics covered include cost classification, cost estimation, cost/volume/profit analysis, budgeting, capital budgeting, standards and variances, cost allocation, cost information and pricing decisions, decentralisation and transfer pricing, working capital management.
Assessment Tutorial: 10% + Case study: 20% + Mid-semester test: 20% + Examination (3 hours): 50%