Management Accounting -74370

Course Outcomes:
1. Describe concepts in management accounting.
2. Prepare final account of a company
3. Prepare cost sheet of a company
4. Produce CVP analysis.
Expected Skills Implementation (Through theory and Practical’s) :
Reading the balance sheet of a company
Analysis of accounting and cost figures.
Marks : 80 Total Hours of Teaching: 60 Theory: 40 Practical: 20
Unit 1: Financial Accounting: (10 Hours)
a) Theory Need for Accounting, Internal and external users of
accounting information, Accounting concepts and
conventions, Accounting cycle and System: Nature of
accounting transactions., Depreciation Methods
b) Practical i) Enlist internal and external users of accounting information.
Visit any business organization to identify how accounting
information is used at different levels of management. ii)
Develop specimen vouchers
iii) Identify any fixed asset and apply appropriate method of
charging depreciation.
(5 Hours)
Unit 2: Final Account: (10 Hours)
a) Theory Preparation of Final Account, Computerized Accounting -
Role of computerized accounting, Tally package - features
and application.
b) Practical Develop specimen vouchers, form a company in tally package
and make entries for the transactions accordingly to come out
with income statement and balance sheet.
(5 Hours)
Unit 3: Cost Accounting: (10 Hours)
a) Theory Meaning, objectives, scope, importance and advantages
Difference between financial and cost accounting. Cost unit
and cost centre; Elements of cost:- Material, Labour and
overheads; Preparation of cost sheet, Inventory valuation
methods (FIFO, LIFO,Simple Average and weighted
Average)
b) Practical i) Visit any manufacturing unit to identify elements of cost
and to learn inventory valuation method what they adopted.
Prepare cost sheet to calculate cost of production.
(5 Hours)
Unit 4: Management Accounting: (10 Hours)
a) Theory Concept, meaning, Definition, Features, Functions, CVP
Analysis - Contribution, PV Ratio, BEP, Margin of Safety,
Angle of incidence. Decision making based on CVP analysis
– Make or Buy decision- shutdown – dropping the plant –
sale or process
b) Practical i) Visit any business enterprise, collect information regarding
variable cost, fixed cost etc. and calculate Breakeven Point
for a product/s. also learn how financial decisions are taken
with the help of Breakeven analysis and CVP analysis.
(5 Hours)