Credits: 3 (3-0-0)
Prerequisites: MSL301 & MSL302
Description
Module I : Nature of Management Control Systems: planning and control process. Essentials of Management Control System. Behavioural aspects of Management Control-motivation and morale, goal congruency, and so on. Management Control Process: Programming, Budgetary Planning and Procedures, Fixed and Flexible Budgeting, Zero Base Budgeting. Internal Audit and Internal Control. Standard Cost Accounting Systems as measures of operating performance.
Module II : Variance Analysis and reporting of financial performance: Material, Labour and Overhead Cost Variances, Revenue Variances, Profit Variances, Variance Reporting.
Module III : Management Control Structure: Responsibility Accounting System- Concept of Responsibility Centre, Expense Centre, Profit Centre, Investment Centre. Inter-Divisional Transfer Pricing System, Measurement of Division Performance.
Prerequisite Tree
flowchart TD
MSL811-537[MSL811]
MSL811-537 --> MSL302-537[MSL302]
MSL811-537 --> MSL301-537[MSL301]
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