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Course Basics
Credit Hours 3
Lecture(s) Nbr of Lec(s) Per Week 2 Duration 75 minutes
Recitation/Lab (per week) Nbr of Lec(s) Per Week Duration
Tutorial (per week) Nbr of Lec(s) Per Week Duration
Course Distribution
Core Core
Elective
Open for Student Category
Close for Student Category
COURSE DESCRIPTION
Managerial accounting is a pivotal ingredient to business performance and governance. Management styles are evolving as a
consequence of shift in the global economic power in favor of emerging economies, continuous technological improvements and
rise in regulation demanding greater disclosure. This raises efficacy of internally generated economic information (costing-
oriented) which is at the heart of managerial accounting.
This course highlights this information’s use towards efficient planning, key/strategic decision-making and effective financial
control. Core cost concepts culminate into intelligent costing methodologies and decision-making tools; thereby preparing students
to become informed executives and managers as they enter the competitive business environment.
The course aims to discuss a variety of established as well as more dynamic and encompassing management accounting and
financial control strategies.
COURSE PREREQUISITE(S)
ACCT 100 Principles of Financial Accounting
Lahore University of Management Sciences
COURSE OBJECTIVES & LEARNING OUTCOMES
The objective of the course is to ensure that students develop a functional knowledge of basic managerial
accounting principles. This will include:
▪ The ability to calculate costs in both a job order and process cost accounting system and understand the cost
flow
▪ An understanding of the types of costs and how they behave in order to conduct cost‐volume profit analyses
▪ An understanding of the role and purpose of activity based costing for decision making purposes including the
ability to calculate costs under an ABC system
▪ An understanding of the different types of budgets and the ability to prepare static and flexible budgets
▪ The ability to perform standard cost variance analyses and fixed and variable overhead variance analyses and
interpret these results
▪ Understand the basic design of management control system including performance measurement,
responsibility accounting etc.
Indicate below how the course learning objectives specifically relate to any program learning goals and objectives.
Lahore University of Management Sciences
MAPPING OF OBJECTIVES
PROGRAM LEARNING GOALS COURSE LEARNING OBJECTIVES COURSE ASSESSMENT ITEM
AND OBJECTIVES
Goal 1 –Effective Written and Oral
Communication
Goal 2 –Ethical Understanding and ▪ Understand the role of ethics in managerial Quizzes, Project, Final Exams, CP
Reasoning
accounting decision‐making
Goal 3 – Analytical Thinking and
Problem Solving Skills
Goal 4 – Application of Information
Technology
Goal 5 – Teamwork in Diverse and
Multicultural Environments
Goal 6 – Understanding
Organizational Ecosystems
Goal 7 (a) – Discipline Specific ▪ An understanding of the differences between Quizzes, Project, Final Exams, CP
Knowledge and Understanding financial and managerial accounting
▪ The ability to calculate costs in both a job
order and process cost accounting system and
understand the cost flow
▪ An understanding of the types of costs and
how they behave in order to conduct
cost‐volume profit analyses
▪ An understanding of the role and purpose of
activity based costing for decision making
purposes including the ability to calculate
costs under an ABC system
▪ An understanding of the different types of
budgets and the ability to prepare static and
flexible budgets
▪ The ability to perform standard cost variance
analyses and fixed and variable overhead
variance analyses and interpret these results
▪ Understand the role of accounting
information in business decision making
▪ Understand the basic design of management
control system including performance
measurement, responsibility accounting etc.
▪ Understand the role of ethics in managerial
accounting decision‐making
Goal 7 (b) – Understanding the ▪ Understand the role of accounting Quizzes, Project, Final Exams, CP
“science” behind the decision- information in business decision making
making process ▪ Understand the basic design of management
control system including performance
measurement, responsibility accounting etc.
Lahore University of Management Sciences
GRADING BREAKUP AND POLICY
Quizzes 20%
Midterm Exam 40%
Final Exam 40%
Course Instructions:
The course encourages active reading on part of students to best comprehend technical and diverse management accounting
concepts. Class lectures would augment this base reading. Therefore, attendance is of high importance.
The quizzes would be timed and based on MCQs and short questions. The submissions would either be through LMS or email. In
case you are facing consistent connectivity issues, Please INFORM me at least 48 hours before the scheduled quiz. The 2 quizzes
that are being dropped are meant to compensate such connectivity and other issues.
Examination Detail
Yes/No: No
Combine Separate:
Midterm
Duration:
Exam
Preferred Date:
Exam Specifications:
Yes/No: No
Combine Separate:
Final Exam
Duration:
Exam Specifications:
TEXTBOOK(S)/SUPPLEMENTARY READINGS
▪ Managerial Accounting, 15th edition, Garrison, Noreen, & Brewer, McGraw Hill.
▪ Further supplementary material (Materials Planning chapter 3: Cost and Management Accounting, 6th Edition, Colin Drury).