Paper 7

T7 - Planning, Control and Performance Management 4th Dec 2007

1500 hour / 3.00pm

BPP tips:

• Principles of cost accounting/collecting and analysing cost information
• Variance analysis
• Forecasting/time series
• Decision making scenario/cost management/performance indicators

Random Forecast:

Pretty tough to forecast limited resources/data

1. Collection of info
1. External info
2. Presentation of info
1. Report format
2. tables, graphs, charts, histograms...
3. Indices - Laspeyres & Paasche - Adv & DisAdv
   
3. Forecasting
1. Linear regression - advantages & Disad
2. high-low method - adv & Disadv
4. Time series
1. Trend, seasonal variation, random elements
2. adv & disadv
5. Planning and control cycle
6. Order of budget construction - limiting factor
7. Prepare Budgets - Master budget (I/S & B/S)
1. cash budget
2. other budgets
   
8. ZBB
   
9. Rolling Budget
10. Fixed vs Flexible
11. Responsibility accounting
    
12. Budgetary control
    
1. Participation (D04)
1. Goal congruence and dysfunctional decision-making
13. Standard costing
1. Calculate
2. RECONCILIATION!!
   
1. Budgeted vs actual (absorption or marginal)
2. Standard vs actual(PT2)
3. causes of variances - technical articles
1. investigation
2. analysis
4. interrelationship
14. Balance score card
15. relevant costing
    
16. CVP
17. Cost reduction
18. Value engineering in target costing

We thank Mr Jay for bringing us away from
the DARK SIDE

Dont forget to break the coconuts in India!

May the force be with you!!