ACCOUNTING FOR MANAGEMENT
By: LAL, JAWAHAR
Material type:
TextPublisher: HIMALAYA PUBLISHING HOUSE ISBN: 978-9350242490Subject(s): FINANCIAL AND MANAGEMENT ACCOUNTING: AN OVERVIEW Evolution of Accounting Definition of Accounting Accounting and Book-keeping Accounting as an Information System Accounting as a Language Users of Accounting Information Financial Accounting and Management Accounting Financial Accounting Management Accounting Financial Accounting Vs Management Accounting Principal Financial Statements Theory Questions ACCOUNTING POSTULATES, CONCEPTS AND PRINCIPLES Postulates, Concepts and Principles Postulates` Concepts Principles Accounting Postulates Accounting Concepts and Principles Generally Accepted Accounting Principles Definition of Accounting Standards Benefits of Accounting Standards Accounting Standards in India AS 1 Disclosure of Accounting Policies Theory Questions ACCOUNTING EQUATION AND TRANSACTION ANALYSIS Accounting Equation Assets and Liabilities Effects of Financial Transactions on Accounting Equation Transaction Analysis Theory Questions Exercises and Problems ACCOUNTING MECHANICS-I: JOURNALS The Account Debit and Credit Types of Accounts Ledger. Journalising the Transactions Theory Questions Exercises and Problems . CASH BOOK AND SUBSIDIARY BOOKS Cash Book Petty Cash Book Journal Purchase Book Purchase Returns Book Sales Book Sales Returns Book Bills Receivable Book Bills Payable Book Journal Proper Theory Questions Exercises and Problems . ACCOUNTING MECHANICS-II: LEDGER POSTING AND TRIAL BALANCE Ledger Posting Posting of Different Account Books Cash Book Petty Cash Book Purchase Returns Book Sales Book Sales Returns Book Bills Receivable Book Bills Payable Book Posting of Journal Balancing of an Account Trial Balance Theory Questions BANK RECONCILIATION STATEMENT Reasons for Difference Between Bank Balances as per Cash Book and Pass Book Reconciliation Statement Theory Questions Exercises and Problems ERRORS AND THEIR RECTIFICATION Errors Disclosed by a Trial Balance Suspense Account Theory Questions Exercises and Problems. PREPARATION OF FINANCIAL STATEMENTS: PROFIT AND LOSS ACCOUNT AND BALANCE SHEET Adjustment Entries Types of Adjusting Entries Provision for Bad Debts, Cash Discounts Payable and Receivable Closing Entries Preparing Profit and Loss Account What is a Balance Sheet? Arrangement of Assets and Liability Items on the Balance Sheet Meaning of Balance Sheet Items Limitations of Balance Sheet Theory Questions Exercises and Problems DEPRECIATION ACCOUNTING Long-Term Assets Accounting Problems in Long-Term Assets Nature of Depreciation Causes for Depreciation Factors that Effect the Computation of Depreciation Methods of Depreciation Evaluation of Accelerated Methods Factors Influencing Selection of Depreciation Method Change in Depreciation Method Disclosure on Depreciation Theory Questions Exercises and Problems INVENTORY VALUATION Meaning of Inventory Need for Inventories Objectives of Inventory Measurement Inventory Costing Methods Lower of Cost or Market (LCM) AS2 on Inventory Valuation Consistency in the Valuation of Inventory Inventory Systems Theory Questions STATEMENT OF CHANGES IN FINANCIAL POSITION (SCFP) Concept of SCFP Concept of Funds Funds Defined as Working Capital Sources and Uses of Working Capital Effect of Transactions on Working Capital Main Steps in Preparing the Statement Schedule of Changes in Working Capital. Format of Funds Flow Statement Treatment of Provision for Taxation and Proposed Dividends Significance of SCFP - Working Capital Basis Limitations of SCFP - Working Capital Basis Relationship Between SCFP and Income Statement Theory Questions Exercises and Problems CASH FLOW STATEMENT Concept Definition in AS 3 Cash and Cash Equivalents Classification of Cash Inflows and Outflows Cash Flow Statement and Cash Receipts and Disbursements Cash Flow and Income Statement Cash Profit (Cash Net Income) Presentation of Cash Flow Statement Direct Method Indirect Method Reporting Cash Flows from Investing and Financing Activities Preparing Cash Flow Statement Provision of AS 3 on Treatment of Certain Items Significance of Cash Flow Statement Limitations of Cash Flow Statement Statement of Changes in Total Financial Resources Limitations of SCFP, on Total Resources Basis Theory Questions Exercises and Problems FINANCIAL STATEMENT ANALYSIS Meaning of Financial Statement Analysis Objectives of Financial Statement Analysis Techniques of Financial Statement Analysis 1. Horizontal Analysis 2. Vertical Analysis 3. Trend Analysis 4. Ratio Analysis Common Size Statements Focus of Financial Statement Analysis I. Liquidity or Short-Term Solvency Analysis II. Analysis for Measuring the Movement of Current Assets III. Profitability Analysis IV. Capital Structure or Gearing Analysis V. Market Strength or Investor Analysis VI. Growth and Stability Analysis Limitations of Financial Ratios Theory Questions Exercises and Problems. NATURE OF COST ACCOUNTING Cost Accounting Cost Accountancy Costing Cost Accounting and Management Objectives of Cost Accounting Cost Accounting and Management Accounting Advantages of Cost Accounting Methods of Costing Techniques (Types) of Costing Costing System Installation of a Cost Accounting System Arguments Against Cost Accounting Cost Centres Cost Units Theory Questions COST: CONCEPTS AND CLASSIFICATIONS Cost Expenses Loss Classification of Costs Natural Classification of Costs Cost Behaviour (In Relation to Changes in Output or Activity or Volume) Degree of Traceability to the Product Association with the Product Functional Classification of Costs Relationship with Accounting Period Costs for Decision Making and Planning Costs for Control Other Costs Cost Control Cost Reduction Cost Statement or Cost Sheet Theory Questions Exercises and Problems MATERIALS CONTROL Materials Concept and Objectives of Materials Control Creating a Purchase Department Qualities of Purchase Manager Issues in Material Procurement. Economic Order Quantity Reorder Level Safety or Minimum Stock Level Maximum Stock Level Inventory Shortages and Overages Inventory Control ABC Method Just-In-Time Method Inventory Turnover Theory Questions Exercises and Problems LABOUR COSTS ACCOUNTING AND CONTROL Organisation for Labour Control Wage Systems Straight Time Piece Work Incentive Wage Plans Profit Sharing and Co-Partnership Work Study Method Study Work Measurement Job Evaluation and Merit Rating Time and Motion Study Labour Turnover Treatment of Labour - Cost Related Items Theory Questions Exercises and Problems OVERHEADS: DISTRIBUTION Concept Collection and Codification of Factory Overheads Allocation and Apportionment of Overheads Apportionment of Service Departments Overheads to Producing Departments Absorption of Factory Overheads Overhead Rates: Actual Vs Predetermined (Standard) Administrative Overheads Selling and Distribution Overheads Treatment of Some Items of Expenses Theory Questions Exercises and Problems JOB, CONTRACT AND BATCH COSTING Nature of Job Costing Job Cost Sheet and Job Ledger Recording Costs on Jobs Recording Completed Jobs. Contract Costing Recording Costs on Contract Value and Profit of Contract Work-in-Progress Profit on Incomplete Contracts Cost-Plus Contract Batch Costing Economics Batch Quantity Theory Questions Exercises and Problems PROCESS COSTING Nature of Process Costing Process Costing and Job Costing Costing Procedures under Process Costing Preparation of Process Cost Accounts • Process Costing Having No Process Loss and No Opening and Closing Work-in-Progress • Process Costing Having Process Losses or Gains • Process Costing Having Opening and Closing Work-in-Progress at Various Stages of Completion Equivalent Production Analysis Joint Product and By-Product Accounting for Joint Product Accounting for By-Products Theory Questions Exercises and Problems 567-616 SERVICE COSTING Concept Nature of Service Costing Transport Costing Power House Costing Canteen Costing Theory Questions Exercises and Problems MARGINAL (VARIABLE) COSTING Concept of Marginal Cost, Marginal Costing Absorption Costing Difference Between Marginal Costing and Absorption Costing Income Statements under Absorption Costing and Marginal Costing Advantages of Marginal Costing Limitations of Marginal Costing Cost-Volume-Profit Analysis Limitations of CVP Analysis Theory Questions Exercises and Problems. ALTERNATIVE CHOICES DECISIONS Decision Making Differential Analysis Types of Choices Decisions Make or Buy Add or Drop Products Sell or Process Further Operate or Shutdown Special Orders Replace or Retain Limitations of Differential Analysis Theory Questions Exercises and Problems STANDARD COSTING Definition of Standard Cost, Standard Costing Standard Costs and Estimated Costs Advantages of Standard Costing Developing or Setting Standards Revision of Standards Variance Analysis Materials Variances Labour Variances Overhead Variances Control Ratios Disposition of Variances Managerial Usage of Variances Limitations of Standard Costing Theory Questions Exercises and Problems 6. BUDGETING Concept of Budgeting Budgeting and Forecasting Concept of Budgetary Control Objective and Functions of Budgeting Limitations of Budgeting Budgeting Process Organisation for Budgeting Budget Manual Budget Period Elements of a Successful Budgeting Plan Budget Centres Limiting or Principal Budget Factor Budget and Standard Costs Fixed and Flexible Budgeting. Types of Budgets Sales Budget Production Budget Production Cost Budget Direct Materials Budget Direct Labour Budget Factory Overhead Budget Ending Inventories Budget Cost of Goods Sold Budget Selling Expenses Budget Administrative Expenses Budget Budgeted Income Statement Capital Expenditure Budget Research and Development Budget Cash Budget Budgeted Balance Sheet Budgeted Statement of Changes in Financial Position Master Budget Revision of Budgets Zero Base Budgeting (ZBB) Application of ZBB Advantages of ZBB Disadvantages of ZBB Performance Budgeting Theory Questions Exercises and Problems RESPONSIBILITY ACCOUNTING, DIVISIONAL PERFORMANCE
| Item type | Home library | Shelving location | Call number | Status | Date due | Barcode |
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Text book
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MIIMLIBRARY | RACK NO- 4 | 658.1511 (Browse shelf) | Available | 1952 |
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