Cost accounting is a process of collecting, analyzing, summarizing and evaluating various alternative courses of action. Program objective:Objectives of cost accounting are ascertainment of cost, fixation of selling price, proper recording and presentation of cost data to management for measuring efficiency and for cost control and cost reduction, ascertaining the profit of each activity, assisting management in decision making.
To impart the students, knowledge about the use of financial, cost and other data for the purpose of managerial planning and control.
To expose the students to the various methods of Cost accumulation, budgeting
and cost control
Introduce students to the area of cost and management accounting
Identify the major differences and similarities between financial and management accounting.
Understand the role of management accountant in an organization, and the importance of upholding ethical standards
Expose students to concepts and techniques that managers and accountants use to produce information for decision making including an Activity-Based Costing (ABC), Standard Costing for planning, Variance Analysis, etc.
Expose students to methods and techniques needed by managers for performing
functions such as costing, cost allocations, preparation of flexible budgets and variance analysis.
Expose students to pricing decisions and management accounting techniques
Someone who aims to make a career in the management accounting field should go for the Cost Management Accounting programme as it is one of the best options
