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IMN405: MANAGEMENT ACCOUNTING
Module-I:
introduction to Cost and Management Accounting: Importance of Cost and Management Accounting; Difference between Cost and Management Accounting. Cost Concepts and classifications; Elements of Cost, Cost sheet, Accounting for material: Material Control, Pricing of material issues.
Module -II:
Labor: Labor cost control; labor turnover: meaning, indications of low labor turnover, causes, effects and measurement of labor turnover; Idle Time: meaning, causes and treatment; Over Time: meaning, causes and treatment; Systems of wage payments. Overhead: classification; absorption of Overhead; under and over absorption of Overhead. Contract Costing, Simple Process Costing (Excluding equivalent Production), and Marginal
Costing including cost- volume- profit analysis.
Module-III:
Cost Control and Cost Reduction: Meaning of cost control; cost control process; importance of cost control; meaning of cost reduction; importance of cost reduction; techniques of cost reduction; distinction between cost control and cost reduction. Budgeting and Budgetary Control: Meaning of a budget; budgeting and budgetary control; advantages of budgeting; limitations of budgeting; types of budget; process of budgeting; fixed and flexible budget; zero base budgeting.
Standard Costing: Introduction; standard cost and standard costing; standard costing vs. budgetary control; analysis of variance (for Material and Labor only); advantages and limitations of standard costing.
Module-IV:
Funds flow statement: Meaning and Uses; Preparation of funds flow statement. Cash flow statement: Meaning; Preparation of cash flow statement; Difference between funds flow and cash flow analysis; utility and limitations of cash flow analysis