Cost and Management Accounting-II

Features, Applications and Types of Process Costing, Process Loss, Abnormal Gains and Losses, Equivalent Units, Inter-Process Profit, Joint Products, By-Products and Accounting
Service Costing: Features and Applications, Unit Costing and Multiple Costing, Application, Identification of Cost Unit and Cost Determination and Control

• Meaning, Advantages, Limitations and Applications
• Breakeven Analysis
• Cost-Volume Profit Analysis
• P/V Ratio and its Significance
• Margin of Safety
• Absorption Costing: System of Profit Reporting and Stock Valuation
• Difference between Marginal Costing and Absorption Costing
• Income Measurement under Marginal Costing and Absorption Costing

Definition, Significance and Applications
• Various Types of Standards
• Installation of Standard Costing System-for Material, Labour, and Overhead
• Variance Analysis for Materials, Labour and Overheads and Accounting Treatment of Variances
• Benchmarking for Setting of Standards
• Variance Reporting to Management

Budget Concept, Manual
• Fixed and Flexible Budgets
• Preparation and Monitoring of Various Types of Budgets
• Budgetary Control System: Advantages, Limitations and Installation
• Zero Base Budgeting
• Programme and Performance Budgeting
Cost Accounting Records and Cost Audit
• Nature and Scope of Cost Audit
• Cost Accounting Records and Cost Audit under Companies Act,1956
• Purpose, Scope and Advantages of Cost Audit
• Implementing Authorities of Cost Audit
Cost Audit Techniques and Programmes
• Cost Audit Report
• Cost Auditor – Appointment, Rights and Responsibilities

Financial Statements: Nature, Attributes, Objectives, Importance, Limitations
• Recent Trends in Presenting Financial Statements
• Financial Statements Analysis: Types, Methods, Objectives, Limitations
• Ratio Analysis: Accounting, Uses, Classification, Advantages, Limitations
• Cash Flow Statement
• Fund Flow Statement
• Difference between Cash Flow and Fund Flow Statement
• Management Reporting