Module 2 – Management Accounting

Overview of Management Accounting

  • Planning and control functions
  • Functions of Management Accounting
  • Financial Accounting and Management Accounting

Cost Classification, Allocation & Methods of Costing

  • Unit costing
  • Job and Batch costing
  • Operating costing

Cost –Volume – Profit analysis

  • Break-even point
  • Cash break even point
  • Operating leverage and risk

Variable Costing and Decision Making

  • Meaning and utility of variable costing
  • Limitations of variable costing
  • Decision making and relevant costs

Standard costing and variance analysis for cost control

  • Development of standards
  • Material, Labor and Overhead Standard Costs
  • Utility and limitations of Standard Costing
  • Significance of Variance analysis
  • Computation of variances and analysis

Budgeting for Planning & Control

Emerging Areas

  • Target Costing
  • Kaizen Costing
  • Activity Based Costing