Ziggnicity

Course Outline in Management Services

Course Description

The course is a 6-unit course, which covers the basic consideration in Management Advisory Services (MAS); how and when it is required. It provides students a board description of the nature of management services, how they are conducted, what specific techniques may be applied. Management Advisory Services can be described as the function of providing professional advisory (consulting) services, the primary purpose of which is to improve the client's use of it's capabilities and resources to achieve the objectives of the organization.

Course Content

Grading Period	Topics
Midterms	UNIT 1 Introduction to Management Advisory Services: Entering the New Field in Management Accounting Topics: 1. Management Advisory Services defined/scope/characteristics 2. Professional qualifications ion the practice of Management Advisory Services 3. Certified Public Accountants (CPAs) as Consultants 4. Management Advisory Services Practice Standards 5. Stages of Management Advisory Services Engagement 6. Management Advisory Services Proposal Letter 7. Managerial Accounting and Financial Accounting Distinguished 8. Management Accounting and the Business Environment
	UNIT 2 Understanding Financial Statements: The Business Communication medium Topics: 1. Financial Statements (Balance Sheet, Income Statement, Retained earnings, Cash Flow, Notes to Financial statements) 2. Financial Statement Analysis 1 and 2 3. Cash Flow Statement Analysis 4. Gross Profit Analysis 5. Earnings per share determination.
	UNIT 3 Cost Concepts, Classification, Behavior and Applications: Basic foundation of Management Accounting Topics: 1. Cost concepts and classifications 2. Cost behavior: Analysis and use 3. Systems design: Job Order costing, 4. Process Costing and Activity Based Costing
	UNIT 4 Decentralized Operations and Responsibility Accounting System and Transfer Pricing Topics: 1. Nature of Decentralized operations 2. Advantages of Decentralization 3. Concepts, Objectives and Advantages of Responsibility Accounting 4. Cost centers, Profit centers, Investment Centers and Revenue Centers 5. Segment Reporting 6. Rationale and definition of Pricing 7. Discuss the need for transfer price 8. Alternative transfer pricing schemes
	UNIT 5 Variable (Direct) Costing: A Precision Gem in the Treasures of Management Topics: 1. Nature of Variable Costing and Absorption Costing 2. Variable Costing and Absorption Costing Distinguished 3. Advantages and disadvantages of Variable Costing 4. A balanced sales and production Sales and production out of balanced 5. Preparation of income statement under variable and Absorption Costing. 6. Comparison and reconciliation of net income under variable and absorption costing
	UNIT 6 Break-even Analysis: An Indispensable Management Decision-Making Tool. Topics: 1. Definition, Nature, Scope 2. Variable Costs, Fixed Costs & Contribution Margin 3. Margin of Safety 4. Mix (Composite) Break-even.
	UNIT 7 Budgeting: An Indispensable Instrument for Business Survival Topics: 1. Definition, nature, scope 2. Budget defined/types and uses of budget 3. Composition of a master budget 4. Steps in budget preparation 5. Detailed illustration of each of the components of the master budget through problem-solving
FINALS	UNIT 8 Standard Costing: The Ladder to Attain Business Topics: 1. Basis of setting standards 2. Analysis of Materials cost variance Material Quantity Variance Material Price Variance 3. Analysis of Labor Cost variance Labor Efficiency Variances under the fixed budget Labor Rate variance 4. Analysis of Factory Overhead Variances under the fixed budget Two-variance method Three-variance method 5. Analysis of Factory Overhead under the flexible budget Two-variance method Three-variance method Four-variance method Material mix variance
	UNIT 9 Relevant Revenue, Costing and Decision Making: A Tool Financial Managers Use Topics: 1. Decision making process 2. Identifying relevant costs 3. Types of decisions · Make or buy · Add or drop a product or other segment · Sell now or process further · Utilization of scarce resources · Shut-down or continue operations Pricing
	Unit 10 Capital Budgeting: The Road Map to Growth in Business Topics: 1. Definition, nature and scope 2. Characteristics of Capital Budgeting 3. Factors to consider in evaluating capital expenditures · Net investment · Net returns · The lowest acceptable rate of return 4. Techniques used in analyzing capital expenditures 5. Methods, which do not consider the time value of money. a. Payback Period b. Accounting rate of return c. Methods which consider the time value of money d. Net present value e. discounted rate of return f. profitability index g. discounted payback period