Lecture

Mod-13 Lec-13 Job Costing

This module focuses on Job Costing, a crucial method for determining the costs associated with individual jobs or projects.

Topics covered will include:

  • Definition and importance of job costing
  • Methods for tracking job costs
  • Allocation of overhead costs
  • Application in project-based industries

Students will learn how to implement effective job costing to ensure accurate pricing and profitability in their projects.


Course Lectures
  • Mod-01 Lec-01 Introduction
    Prof. P.K.J. Mohapatra

    This module serves as an introduction to the course on Nanotechnology, Economics, Management, and Entrepreneurship. It lays the foundation for understanding how nanotechnology impacts various sectors and the economic principles that govern market behaviors.

    Key topics covered include:

    • Overview of nanotechnology
    • Importance of economics in technological advancements
    • Role of management in fostering innovation
    • Entrepreneurial opportunities in the field

    By the end of this module, students will grasp the significance of integrating these disciplines to drive growth and sustainability in technological enterprises.

  • This module focuses on Market Equilibrium, exploring the concepts of demand and supply. Understanding these fundamentals is crucial for analyzing how markets operate.

    Topics include:

    • Definition of demand and supply
    • Equilibrium price and quantity
    • Shifts in demand and supply curves
    • Market interventions and their effects

    Students will learn how to assess market conditions and the implications of changes in demand and supply on pricing and availability of goods.

  • Mod-03 Lec-03 Elasticity of Demand
    Prof. P.K.J. Mohapatra

    This module delves into the Elasticity of Demand, a vital concept in economics that measures how responsive the quantity demanded is to price changes.

    In this module, students will cover:

    • Definition and types of elasticity
    • Factors affecting demand elasticity
    • Calculating price elasticity of demand
    • Implications of elasticity for businesses and pricing strategies

    By understanding elasticity, students will be better equipped to make informed decisions regarding pricing and product strategies in their entrepreneurial ventures.

  • Mod-04 Lec-04 Demand Forecasting
    Prof. P.K.J. Mohapatra

    Demand Forecasting is essential for businesses to anticipate future demand for their products or services. This module guides students through various forecasting methods and their applications.

    Key topics include:

    • Importance of accurate demand forecasting
    • Qualitative and quantitative forecasting methods
    • Analysis of historical data
    • Adjusting forecasts based on market trends

    Students will learn how to evaluate and implement forecasting techniques to enhance their business planning and decision-making processes.

  • Mod-05 Lec-05 Production
    Prof. P.K.J. Mohapatra

    This module provides an overview of Production concepts, crucial for understanding how goods are created and the economic implications of production processes.

    The content includes:

    • Types of production processes
    • Production functions and efficiency
    • Factors of production
    • Cost considerations in production

    By the end of this module, students will comprehend the relationship between production, costs, and market supply, equipping them for effective management in tech-driven industries.

  • Mod-06 Lec-06 Exercises on Economics
    Prof. P.K.J. Mohapatra

    This module consists of practical exercises on Economics, designed to reinforce theoretical knowledge through application. Students will engage in problem-solving activities that enhance their understanding of key economic concepts.

    Exercises will cover:

    • Calculating elasticity and forecasting demand
    • Analyzing market scenarios
    • Understanding cost structures
    • Applying decision-making frameworks

    Through these exercises, students will gain hands-on experience that prepares them for real-world economic challenges they may face in their careers.

  • Understanding Cost-Volume-Profit (CVP) Relationships is essential for analyzing how changes in cost and volume affect a company's profit.

    This module includes:

    • Definition of CVP analysis
    • Break-even analysis
    • Impact of fixed and variable costs
    • Decision-making based on CVP

    Students will learn to utilize CVP analysis as a tool for strategic planning and financial decision-making in their entrepreneurial ventures.

  • This module introduces Cost Management Systems and Activity Costing Systems, crucial for maintaining financial control and optimizing resource allocation in businesses.

    Topics include:

    • Overview of cost management systems
    • Introduction to activity-based costing
    • Benefits of accurate cost measurement
    • Implementation of cost management strategies

    Students will understand how to apply these systems to enhance financial accountability and improve decision-making processes in their organizations.

  • This module focuses on Relevant Information and Decision Making, emphasizing the importance of using the right data to make informed business decisions.

    Key topics include:

    • Identifying relevant costs and benefits
    • Decision-making frameworks
    • Impact of sunk costs on decisions
    • Evaluating alternatives based on relevant information

    Students will learn to differentiate between relevant and irrelevant information, enhancing their strategic decision-making skills in various business scenarios.

  • Mod-10 Lec-10 Cost Allocation
    Prof. P.K.J. Mohapatra

    This module covers Cost Allocation methods, essential for distributing costs accurately among different departments or products within a business.

    Topics include:

    • Importance of cost allocation
    • Different cost allocation methods
    • Impact on financial reporting
    • Challenges in cost allocation

    Students will learn how to implement effective cost allocation strategies, ensuring fair distribution and accurate financial representation in their organizations.

  • This module continues the exploration of exercises on Economics, allowing students to apply their theoretical knowledge through practical applications and case studies.

    Exercises will include:

    • Real-world economic scenarios
    • Analytical problem-solving
    • Case studies on market behavior
    • Application of economic theories in practice

    Through these continued exercises, students will deepen their understanding of economics and its application in various contexts.

  • This module provides an introduction to Double-Entry Bookkeeping, an essential accounting method that ensures accuracy in financial reporting.

    Key topics include:

    • Principles of double-entry bookkeeping
    • Journal entries and ledgers
    • Trial balance preparation
    • Importance of accurate record-keeping

    Students will learn the fundamental concepts of bookkeeping, preparing them to manage financial records effectively in their future careers.

  • Mod-13 Lec-13 Job Costing
    Prof. P.K.J. Mohapatra

    This module focuses on Job Costing, a crucial method for determining the costs associated with individual jobs or projects.

    Topics covered will include:

    • Definition and importance of job costing
    • Methods for tracking job costs
    • Allocation of overhead costs
    • Application in project-based industries

    Students will learn how to implement effective job costing to ensure accurate pricing and profitability in their projects.

  • Mod-14 Lec-14 Process Costing
    Prof. P.K.J. Mohapatra

    This module covers Process Costing, an accounting method used for calculating costs in mass production environments.

    Key topics include:

    • Definition and characteristics of process costing
    • Cost accumulation techniques
    • Comparison with job costing
    • Application in continuous production processes

    Students will understand how to apply process costing techniques to manage costs effectively in industries that produce homogeneous products.

  • Mod-15 Lec-15 The Master Budget
    Prof. P.K.J. Mohapatra

    This module introduces The Master Budget, an essential planning tool that consolidates all financial projections for an organization.

    Topics covered include:

    • Components of a master budget
    • Preparation techniques
    • Importance of budgeting in financial planning
    • Variance analysis and budget adjustments

    Students will learn how to create and manage a master budget to ensure financial stability and guide organizational strategy.

  • This module focuses on Flexible Budgets and Variance Analysis, essential for adjusting budgets based on changing conditions and analyzing performance.

    Key topics include:

    • Definition and purpose of flexible budgets
    • Variance analysis techniques
    • Performance evaluation
    • Strategic adjustments based on variances

    Students will learn how to implement flexible budgeting to adapt to changes in operations and improve financial performance evaluation.

  • Mod-17 Lec-17 Financial Statements
    Prof. P.K.J. Mohapatra

    This module provides an overview of Financial Statements, essential documents that summarize the financial performance and position of an organization.

    Topics covered will include:

    • Components of financial statements
    • Understanding income statements, balance sheets, and cash flow statements
    • Importance of financial reporting
    • Analyzing financial health of a business

    Students will learn to prepare and interpret financial statements, providing them with the skills needed for effective financial management.

  • This module continues the exploration of Financial Statements, providing deeper insights into their analysis and implications for decision-making.

    Key topics include:

    • Advanced techniques for analyzing financial statements
    • Understanding ratios and their significance
    • Interpreting financial data for strategic decisions
    • Comparative analysis with industry benchmarks

    Students will enhance their analytical skills, enabling them to make informed decisions based on comprehensive financial evaluations.

  • This module focuses on the Analysis of Financial Statements, equipping students with the skills needed to assess a company's financial performance effectively.

    Key topics include:

    • Understanding key financial ratios
    • Evaluating liquidity, profitability, and solvency
    • Identifying trends and patterns in financial data
    • Making recommendations based on analysis

    By mastering financial statement analysis, students will be better positioned to contribute to financial decision-making processes in their organizations.

  • Mod-19 Lec-20 Exercises (Contd.)
    Prof. P.K.J. Mohapatra

    This module delves into the exercises related to previous lectures, providing a comprehensive understanding of the key concepts discussed.

    Key learning outcomes include:

    • Review of essential theories in nanotechnology management.
    • Application of exercises to real-world scenarios.
    • Improvement of analytical skills through practical examples.
  • Mod-20 Lec-21 Time Value of Money
    Prof. P.K.J. Mohapatra

    This module introduces the concept of the Time Value of Money (TVM), an essential principle in finance that states money available now is worth more than the same amount in the future.

    Key topics include:

    • The principle of compounding.
    • Calculating present and future values.
    • Understanding annuities and their applications in investment decisions.
  • This module focuses on comparing alternatives in financial decision-making, a crucial skill for effective management and entrepreneurship.

    Topics covered include:

    • Identifying and evaluating different investment options.
    • Using financial metrics like NPV and IRR for comparison.
    • Understanding risk factors associated with each alternative.
  • This continuation of the previous module further explores the comparison of alternatives, emphasizing the importance of thorough analysis in making informed decisions.

    Key areas of focus include:

    • Advanced techniques for comparing multiple investments.
    • Real-life case studies demonstrating successful alternative comparisons.
    • The impact of changing market conditions on investment choices.
  • This module continues the examination of comparing alternatives, focusing on developing a robust framework for evaluating investment opportunities.

    Key concepts include:

    • Frameworks for systematic comparison of financial options.
    • Quantitative vs qualitative analysis in investment decisions.
    • Strategies for mitigating risks while choosing alternatives.
  • Mod-22 Lec-25 Depreciation Accounting
    Prof. P.K.J. Mohapatra

    This module is dedicated to understanding depreciation accounting, a critical aspect of financial reporting and asset management.

    Topics include:

    • The concept of depreciation and its implications for businesses.
    • Methods of calculating depreciation: straight-line, declining balance, and units of production.
    • Impact of depreciation on financial statements and tax obligations.
  • This continuation of the depreciation accounting module offers a deeper analysis of complex scenarios involving depreciation practices in various industries.

    Key discussions include:

    • Industry-specific depreciation practices and their justification.
    • Assessing asset impairment and its accounting treatment.
    • Regulatory considerations and compliance in depreciation reporting.
  • Mod-23 Lec-27 Exercises
    Prof. P.K.J. Mohapatra

    This module introduces a series of exercises designed to reinforce the concepts learned in previous lectures, providing a hands-on approach to learning.

    Participants will engage in:

    • Practical exercises that simulate real-world financial scenarios.
    • Collaborative problem-solving tasks with peers.
    • Feedback sessions to enhance understanding and application.
  • This module explores the evolution of management thought, tracing its historical roots to modern practices employed in organizations today.

    Key topics include:

    • The contributions of classical theorists like Taylor and Fayol.
    • The impact of behavioral theories on management practices.
    • Contemporary management trends and their implications for the future.
  • Mod-25 Lec-29 Functions of Management
    Prof. P.K.J. Mohapatra

    This module discusses the various functions of management, providing a comprehensive overview of key managerial roles and responsibilities.

    Topics covered include:

    • Planning and its significance in management.
    • Organizing resources effectively to achieve objectives.
    • Leading teams and motivating employees for optimal performance.
  • This continuation module elaborates further on management functions, emphasizing the importance of controlling and evaluating performance.

    Key discussions include:

    • Setting performance standards and benchmarks.
    • Monitoring and assessing employee performance.
    • Implementing corrective actions for continuous improvement.
  • This module further investigates the functions of management, highlighting the significance of effective staffing and human resource management.

    Topics include:

    • Recruitment and selection processes for the right talent.
    • Training and development strategies for workforce enhancement.
    • Creating a positive organizational culture to retain employees.
  • Mod-26 Lec-32 Directing
    Prof. P.K.J. Mohapatra

    This module discusses the directing function of management, focusing on the processes that guide organizational activities towards achieving goals.

    Key elements include:

    • The role of communication in effective direction.
    • Motivational strategies for enhancing employee performance.
    • Leadership styles and their impact on organizational dynamics.
  • Mod-27 Lec-33 Product Development
    Prof. P.K.J. Mohapatra

    This module focuses on product development, exploring the stages involved in bringing a product from concept to market.

    Key topics include:

    • The product development lifecycle and its phases.
    • Strategies for market research and analysis.
    • Testing and validation processes before launch.
  • Mod-28 Lec-34 Forecasting Revisited
    Prof. P.K.J. Mohapatra

    This continuation module revisits forecasting techniques, emphasizing their importance in strategic management and decision-making processes.

    Topics covered include:

    • Quantitative versus qualitative forecasting methods.
    • The role of data analysis in making accurate predictions.
    • Case studies showcasing successful forecasting applications.
  • This module continues the exploration of forecasting, focusing on advanced techniques and tools used to enhance accuracy and reliability.

    Key discussions include:

    • Advanced statistical methods for improved forecasting.
    • The use of software tools for data analysis and visualization.
    • Integrating forecasting into business planning and operations.
  • This module concludes the study of forecasting by addressing the challenges faced in accurate prediction and the strategies to overcome them.

    Topics include:

    • Common pitfalls in forecasting and how to avoid them.
    • Strategies for continuous improvement in forecasting methods.
    • The importance of feedback loops in refining predictions.
  • Mod-29 Lec-37 Capacity Planning
    Prof. P.K.J. Mohapatra

    This module covers capacity planning, focusing on the processes involved in ensuring that an organization can meet future demands for its products and services.

    Key topics include:

    • Assessing current capacity and identifying gaps.
    • Forecasting future demand and capacity requirements.
    • Strategies for optimizing resources to meet demand.
  • This continuation of the capacity planning module explores plant location strategies, emphasizing their significance in operational efficiency.

    Topics covered include:

    • Factors affecting plant location decisions.
    • Assessing geographical advantages and logistics.
    • Integrating capacity planning with location strategy for success.
  • This module delves into product service strategies and the importance of effective plant layout in manufacturing. Understanding how to optimize plant layout can significantly enhance productivity and efficiency.

    • Explore different product service strategies.
    • Analyze various plant layout designs.
    • Understand the relationship between layout and workflow efficiency.
  • This module continues the discussion on plant layout while introducing concepts of production planning and control. It aims to equip learners with the skills to manage production processes effectively.

    • Understand the principles of production planning.
    • Learn about different production control techniques.
    • Examine case studies of effective production management.
  • In this module, learners will continue to explore the intricacies of production planning and control. The focus will be on advanced techniques and real-world applications to ensure smooth production operations.

    • Deep dive into production scheduling.
    • Discuss inventory control methods.
    • Learn about quality control in production processes.
  • Mod-34 Lec-42 Inventory Management
    Prof. P.K.J. Mohapatra

    This module introduces inventory management, a critical aspect of supply chain success. Participants will learn how to effectively manage inventory levels to meet customer demand while minimizing costs.

    • Understand the fundamentals of inventory management.
    • Explore different inventory control systems.
    • Analyze the impact of inventory on supply chain performance.
  • Mod-35 Lec-44 Supply Chain Management
    Prof. P.K.J. Mohapatra

    In this module, learners will explore supply chain management, focusing on the integration of various components to enhance overall efficiency and effectiveness in delivering products to customers.

    • Learn the key components of supply chain management.
    • Discuss supply chain integration strategies.
    • Analyze case studies of successful supply chains.
  • This module continues the exploration of supply chain management, diving into marketing management principles and their relevance in the context of supply chains.

    • Understand the relationship between supply chain and marketing.
    • Explore demand forecasting techniques.
    • Learn about customer relationship management in supply chains.
  • This session focuses on advanced marketing management techniques, including digital marketing strategies and their application within the supply chain framework.

    • Explore the role of digital marketing in supply chains.
    • Discuss effective branding strategies.
    • Learn about market analysis and segmentation.
  • Mod-38 Lec-47 Forms of Ownership
    Prof. P.K.J. Mohapatra

    This module covers the various forms of ownership that entrepreneurs can choose when starting a business. Understanding these forms is crucial for making informed decisions.

    • Examine sole proprietorships and partnerships.
    • Analyze corporations and limited liability companies (LLCs).
    • Discuss the implications of ownership structures.
  • This module discusses the process of starting a new company and the key considerations involved in small-scale industrial undertakings, including feasibility studies and market assessments.

    • Understand the steps to start a new business.
    • Explore feasibility studies and their importance.
    • Learn about market assessments for small-scale industries.
  • Mod-40 Lec-49 Capital Financing
    Prof. P.K.J. Mohapatra

    This module provides insights into capital financing, exploring the various sources of finance available to entrepreneurs and the importance of financial planning in business success.

    • Examine sources of capital financing.
    • Discuss the role of investors and loans.
    • Learn about financial planning and budgeting.
  • This final module wraps up the entrepreneurship course, summarizing key takeaways and providing guidance for future entrepreneurs on sustaining business growth and innovation.

    • Review essential concepts learned throughout the course.
    • Discuss sustaining business growth.
    • Explore innovative practices for future success.