UNDERSTANDING COSTS Various cost as presented in Income statement –Classification of Cost for Purposes of Recording-Material / Labour/Overhead-Cost Recording and Allocation Service Departments and Absorption Rates-Determination of Costs of Products- Costing system-Job and Process Costing –Cost of and Inventory Valuation-LIFO and FIFO –Cost Behavior Fixed. Variable and Semi-Variables and its significance in Financial Projections. Cost and Management Decisions: Total Cost, Average Cost, Managerial CostOpportunity Cost, Out of Pocket Cost, Direct cost-Concept of Cost RelevanceBudgeting Process-An Overview –Different Functional Budgets and their Integration with Final statements- Introduction to Profit Budgeting : Cost Volume-Profit Relationship. Concept of Control : Operations Control and Management Control-Key variable of Managerial Performance Developing Objective Standards for Measuring the key variables-Analysis of Input in Terms of Engineered Capacity and Managed Cost-Concepts of Responsibility budgeting –Reporting system for ControlControl of (a) Performance of Organisational Units : Divisions, Departments, Cell etc (b) Control of Functions and Activities which cut across Organisational Units like Recruitment, Training, committee Work, Product Development Samples Promotion etc. Information system for Control-Scope for Computerization. 1.4 ) ORGANISATIONAL BEHAVIOUR OBJECTIVE: Increasing managerial effectiveness through understanding of self and other. SYLLABUS : The Individual Personality-Personality and behavior-PersonalityStructure ability and emotion-Personality and environment-Perception, learning, interest attitude and values, motives, frustration and conflict-Adjustment, adoption and integration of personality- Management of One to one relationship. 1.5 ) PRINCIPLES OF MANANGEMENT N.B. Practical exercise case studies should be discussed in order to explain the concept of management and underlining principals . The participant must be in a position to handle pragmatic situation arising during the course of their day-today working. The following aspects of management should be discussed in a problem solving manner:(1) Management-Conceptual analysis, evaluation of Management Philosophy, definition principles of Management functions of Management, role of
management, techniques in modern industry and commerce- its relevance to different types of organizations like Universities, Hospitals, Social Organization, etc....