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ACCOUNTING FOR MANAGEMENT

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Objective: to develop an insight of postulates, principles and techniques of accounting and
utilization of financial and accounting information for planning, and decision-making
Unit-I : Accounting for Management –Nature and Scope – Management Process and
Accounting – Financial Accounting Vs Cost Accounting Vs Accounting for Management –
Role of Account in Modern Organization
Unit – II: Financial Accounting System – Generally Accepted Accounting Principles and
Accounting Standards Governing Financial Statements – Contents of Profit and Loss Account –
Balance Sheet (Theory only)
Unit- III: Elements of Cost – Cost Sheet Preparation – Absorption Vs Marginal Costing –Cost –
Volume – Profit Analysis – Cost Behaviour – Breakeven Analysis – Contribution Approach –
Profit Planning.
Unit-IV: Cost Concepts for Decision making – Decision Making Process – Decision SituationsSales Volume Decisions – Pricing and Special Order Pricing – Make / Buy Decisions – Product
Decisions- Addition, Deletion and Alteration of Mix – Plant Shutdown Decision.
Unit- V: Budgeting – Types of Budgets – Financial Vs Operation Budgets – Short Term Vs Long
Term Budgets – Construction of Cash Budget- Flexible Budget – Master Budget – Management
Control and Budgeting – Performance Budgeting and Zero Based Budgeting.