208-231 Management of Rural Enterprises

This subject introduces the business cost concepts and frameworks from both the traditional and contemporary perspectives as well as systems for measuring and controlling costs. Internal control concepts are also addressed along with inventory planning and control approaches as they relate to rural processing industries.

Topics include:

• manager's role in cost management;

• costs - terms and concepts;

• cost behaviour - cost - volume - profit relationships;

• job order costing - concepts and applications in rural industries;

• process costing - concepts and applications in rural industries;

• activity based costing concepts;

• activity based costing rural applications;

• quality cost management;

• cost estimation and benchmarking;

• concept of internal control/systems for controlling costs; and

• inventory planning; and Inventory control.

A 3-hour end-of-semester examination (60%), an assignment of up to 2000 words (20%) and assessment of tutorial problem sheets (20%, equivalent to a total of 2000 words).