Accounting for Management

Fundamentals of Management Accounting and Tools Used in Management Accounting Applications of Management Accounting

Description

To acquaint about Managerial Accounting decision-making techniques and reporting methods.

Course Outcomes:

CO1: Relate the relationship between Cost, Financial and Management Accounting

CO2: Draw conclusion about the liquidity, solvency and profitability of business entities based

on comparative statements, common size statements, trend analysis and ratio analysis

CO3: Prepare Fund flow and Cash flow Statement

CO4: Prepare Marginal Cost Statement and Apply Marginal Costing for Decision making in

Business

CO5: Prepare different types of budgets and Calculate material, labour and overhead variances

Introduction-Meaning and emergence of management accounting- definition of management accounting-Characteristics of management accounting-Scope of Management Accounting- Objectives of management accounting.

Meaning of Marginal cost and Marginal costing – Marginal costing VS absorption costing, Contribution, Margin of Safety ,Breakeven analysis and profit volume graph. (Problems) Applications of marginal costing and Cost volume profit analysis – cost control, profit planning, evaluation of performance, Decision making.

Meaning and Concept of CVP analysis and Calculation of Break even Point.

Marginal Costing and Applications of Mraginal Costing.

Applications of BEP and Methods of Calculating Breakeven Point.

eaning- concept of funds flow- Sources and use of funds – construction of funds flow statement – uses – significance of funds flow statement – limitations of funds flow statement (Theory and Problems) etc

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