Table of Contents
MGT605: Advanced Cost and Management Accounting
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Course Overview
A constant challenge facing all managers regardless of the type or profit motivation of the organization is controlling the cost of products and services. This course provides students the opportunity to apply various current cost control techniques, including activity-based management, contribution margin, standard costing, the balanced scorecard, and linear programming to a diverse group of scenarios and short cases in different types of organizations.
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MGT605 HANDOUTS
MGT605: Advanced Cost and Management Accounting
Benchmarking
• Benchmarking is a technique that is increasingly accepted as a mechanism for achieving continuous improvement.
• It is the process of measuring a company’s product, service, or activity against other top-performing organizations.
• Benchmarking involves focusing on the latest developments and best practices that can be incorporated into various business operations.
Employee empowerment
• In the search for continuous improvement, managers have found that they must increasingly rely on the people closest to operational processes and customers to develop new approaches to improving performance.
• This has resulted in employees being provided with relevant information that enables them to continually improve processes.
