Unit 1: Financial Accounting – Introduction
This unit presents an overview of meaning of accountancy, book keeping, accounting, explains accounting process involved, and describes the objectives of accounting. This unit concludes with advantages and disadvantages of accounting, difference between financial accounting and management accounting and introduces basic terminologies in accounting.
Unit 2: Accounting Concepts, Principles, Bases and Policies
This unit briefly describes the meaning of accounting concepts, principles, policies and standards. This unit explains different types of accounting concepts and accounting policies, changes in accounting policies and the disclosure norms. A brief introduction of IFRS is made at the end of the unit.
Unit 3: Double Entry Accounting
This unit describes the meaning of double entry accounting, classification of accounts under traditional approach and modern approach, compares traditional approach with modern approach and explains process involved in accounting trail. It provides a rich source of information on accounting equation. The unit ends with meaning and rules of debit and credit.
Unit 4: Secondary Books
This unit deals with various secondary books, cash book- single columnar, double and triple columnar cash book and petty cash book. It describes the procedure of posting transactions in various ledger accounts.
SUBJECT INTRODUCTION
Unit 5: Secondary Books
This unit deals with preparation of trial balance, describes various adjusting entries, deals with rectification of errors both that are disclosed by trial balance and not disclosed by trial balance. It also explains the steps to locate the errors.
Unit 6: Final Accounts
This unit deals with adjustments that are made before preparing final accounts in the area of depreciation, provision for doubtful debts, reserve for discount on debtors and creditors, closing stock. Sufficient examples are given on preparation of trading, profit and loss account and balance sheet. 

Unit 7: Introduction to Management Accounting
This unit deals with meaning, role, functions of management accounting. It explains management accounting framework, tools of management accounting, balanced scorecard, cash management system and value added concept. This unit concludes with merits and demerits of management accounting and distinction between management accounting
and financial accounting.
Unit 8: Financial Statement Analysis
This unit deals with meaning of ratio analysis, steps involved in ratio analysis, classification of ratios under various categories, Du Pont chart with sufficient examples. The unit concludes with merits and demerits of ratio
analysis.
Unit 9: Funds Flow Analysis
This unit deals with meaning of funds flow statement, techniques involved in preparation of funds flow statement. It provides sufficient examples and exercises on the schedule of changes in working capital, adjusted profit and
loss account and funds flow statement.
Unit 10: Cash Flow Analysis
This unit deals with meaning of cash flow statement, purpose of cash flow statement, steps involved in preparation of cash flow statement, problems on cash flow statement under both direct and indirect method. The unit
concludes with difference between cash flow statement and funds flow
statement and uses of cash flow statement.
Unit 11: Understanding Cost
This unit deals with meaning, objective and methods of costing, techniques of costing, classification of cost, elements of cost. It provides a detailed specimen of cost sheet with sufficient examples and solved problems.
Unit 12: Marginal Costing & Break even Analysis
This unit deals with concept and characteristics of marginal costing, difference between absorption costing and marginal costing, CVP analysis, Break even Chart, Break even point, Price Volume ratio and margin of safety. It concludes with merits, demerits and application of marginal costing.
Unit 13: Decision involving alternative choices
This unit deals with meaning of decision making, types of costs, types of choices decisions- make or buy, addition or discontinuance of the product, sell or process further, operate or shut down decisions and exploring new
markets etc.
Unit 14: Budgetary Control
This unit deals with meaning of budget, budgetary control, merits and essential features of budgetary control. It covers steps involved in budgetary control, types of budgetary control – cash budget, flexible budget with sufficient examples. This unit concludes with limitation of budgetary control.
Unit 15: Standard Costing
This unit deals with definition of standard costing, describes the meaning of standard costs, and explains how standards are established, the difference between standard costs and budgetary control. It describes various types of variance – material cost variance, material price variance, material usage variance, material mix variance, material yield variance, direct labour
variance, labour efficiency variance, labour rate variance, labour mix variance and labour yield variance with examples