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    FRM Course Syl Lab Us Ip Download

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    ACC205:COST AND MANAGEMENT ACCOUNTING

    L:3 T:1 P:0 Credits:4

    Course Outcomes: Through this course students should be able to

    CO1 :: develop skills to prepare accurate Cost Sheets for efficient cost analysis and management.

    CO2 :: employ Marginal Costing for decision-making in organisations.

    CO3 :: formulate a comprehensive analysis of variations between actual and standard costs
    through variance analysis.
    CO4 :: reorganize the interrelationship between Financial, Cost, and Management Accounting and
    assess the use of Management Accounting.

    CO5 :: appraise the financial performance of a business by analyzing accounting ratios.

    CO6 :: use cash flow statements and budgets as crucial tools for making well-informed financial
    decisions.

    Unit I
    Introduction to Cost Accounting : meaning,objectives and importance of Cost
    Accounting,differentiation between Cost and Financial Accounting, ways of classifying costs, Unit or
    Output Costing, Cost Sheet preparation
    Material Costing : meaning, objectives and essential requirements of inventory control, material
    classification, techniques of Inventory Control: ABC Technique,VED analysis and Inventory levels
    (minimum,maximum and reorder levels) and Economic Order Quantity (EOQ), different methods of
    pricing material issues (FIFO, LIFO and Simple Average method)
    Unit II
    Marginal Costing and CVP Analysis : Nature and Importance of Marginal costing, CVP Analysis:
    P/V ratio, Break even point, Margin of Safety, Applications of Marginal Costing for decision making in
    organizations: 1) Make or Buy Decisions and 2) Product Mix Decisions, applications of Marginal
    Costing for decision making in organizations: make or buy decisions and product mix decision,
    concept, nature and importance of Marginal Costing, CVP Analysis: P/V ratio, Break even point and
    Margin of Safety
    Unit III
    Standard Costing : Nature and Use of Standard Costing, Establishment of Standard Costing System,
    Variance Analysis: Material Variances and Labour Variances, conceptual framework of Standard
    Costing: concept, applicability,preliminaries in establishing a system of Standard Costing and
    advantages and limitations of Standard Costing
    Unit IV
    Introduction to Management Accounting : Nature and Use of Management Accounting,
    Limitations of Management Accounting, Relationship of Financial, Cost and Management Accounting,
    meaning, nature, use and limitations of management accounting, comparison between Cost,
    Management and Financial Accounting
    Unit V
    Ratio Analysis : Types of Ratios: 1) Liquidity Ratios, 2) Activity Ratios, 3) Profitability Ratios and 4)
    Solvency Ratios, Nature and Importance of Ratio Analysis, Limitations of Ratio Analysis, nature,
    importance and limitations of Ratio Analysis, types of Ratios: Liquidity Ratios, Activity Ratios,
    Profitability Ratios and Solvency Ratios
    Unit VI
    Budgetary Control : Objectives of Budgetary Control, Limitations of Budgetary Control, Types of
    Budgets, Preparation of Cash Budget, Preparation of Flexible Budget, objectives and limitations of
    Budgetary Control, classification of Budgets, preparation of Cash Budget and Flexible Budget
    Cash Flow Statement Analysis : Preparation of Cash Flow Statement as per Direct and Indirect
    Method (AS-3 Revised), Objectives and Uses of Cash Flow Statement, Components of Cash Flow
    Statement, Preparation of Cash Flow Statement as per Indirect Method (AS-3 Revised), objectives,
    uses and components of Cash Flow Statement, preparation of Cash Flow Statement(Indirect method:
    AS-3 revised)

    Text Books:
    1. COST AND MANAGEMENT ACCOUNTING by M N ARORA, HIMALAYA PUBLISHING HOUSE
    PVT. LTD
    References:
    1. MANAGEMENT ACCOUNTING by DEBARSHI BHATTACHARYYA, PEARSON

    Session 2023-24 Page:1/2


    2. COST ACCOUNTING by JAWAHAR LAL, SEEMA SRIVASTAVA, MCGRAW HILL EDUCATION

    Session 2023-24 Page:2/2

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