Management Accounting for University of Delhi

Description

Cover Contents Preface Chapter 1: Introduction to Management Accounting 1.1 Definition of Management accounting 1.2 Nature or Features of Management Accounting 1.3 Scope of Management accounting 1.4 Objectives of Management accounting 1.5 Role or Functions of Management accounting 1.6 Utility of Management Accounting 1.7 Limitations of Management Accounting 1.8 Tools and Techniques of Management Accounting 1.9 Requisites for Installation of Management Accounting System 1.10 How Does Management Accounting Differ from the other Branches of Accounting 1.10.1 Management Accounting and Financial Accounting 1.10.2 Management Accounting and Cost Accounting 1.11 Meaning of Cost Management 1.12 Advantages of Cost Management 1.13 Meaning of Cost Control 1.14 Procedure for Cost Control 1.15 Techniaues of Cost Control 1.16 Meaning of Cost Reduction 1.17 Features of Cost Reduction 1.18 Scope of Cost Reduction 1.19 Techniques of Cost Reduction 1.20 Cost Reduction vs Cost Control 1.21 Difference between Cost Management, Cost Control and Cost Reduction Chapter Review Summary Chapter Review Quiz Exercise Chapter 2: Budget and Budgetary Control 2.1 Meaning of Budget 2.2 Meaning of Budgeting 2.3 Features of Budget 2.4 Forecast and Budget 2.5 Budgetary Control 2.6 Objectives of Budegetary Control 2.7 Advantages of Budgetary Control 2.8 Limitations of Budgetary Control 2.9 Comparison between Budget and Budgetary Control 2.10 Comparison Between Standard Costing and Budgetary Control 2.11 Zero-Based Budgeting (ZBB) 2.11.1 Features of Zero-based Budgeting 2.11.2 Advantages of Zero-based Budgeting 2.11.3 Disadvantages of Zero-based Budgeting 2.12 Peroformance Budgeting 2.12.1 Steps in Performance Budgeting 2.13 Programme Budgeting 2.14 Budget Administration 2.15 Budget Reports 2.16 Revision of Budgets 2.17 Classification or Types of Budget 2.17.1 Classification on the Basis of Period 2.17.2 Classification on the Basis of Flexibility of Production 2.17.3 Classification on the Basis of Function or Coverage 2.18 Worked-Out Problems Chapter Review Summary Chapter Review Quiz Exercise Chapter 3: Standard Costing and Variance Analysis 3.1 What is Standard Cost? 3.2 What is Standard Costing? 3.2.1 Features of Standard Costing 3.3 Preliminary Steps for Establishing Standard Costing System 3.4 Types of Standards 3.5 Distinction between Standard Ccost, Estimated Ccost and Actural/Historical Cost 3.6 Advantages of Standard Costing 3.7 Limitations of Standard Costing 3.8 Applications of Standard Costing 3.9 Comparison between Standard Costing and Budgetary Control 3.10 Analysis of Variance 3.10.1 Direction of Variances 3.10.2 Nature of Variances 3.10.3 Purposes of Variance Analysis 3.11 Classification of Variances 3.11.1 Material Variances 3.11.2 labour Variances 3.11.3 variable Overhead Variances 3.11.4 Fixed Overhead Variances 3.11.5 Sales Value Variances 3.11.6 Sales Margin (Profit) Variances 3.12 Disposition of Variances 3.13 Control Ratios 3.14 Formulae of Various Variances at a Glance 3.15 Worked-out Problems Chapter Review Summary Chapter Review Quiz Exercise Chapter 4: Absorption Costing and Variable Costing 4.1 Absorption Costing 4.2 Features of Absorption Costing 4.3 Advantages of Absorption Costing 4.4 Limitations of Absorption Costing 4.5 Variable Costing 4.6 Features of Variable Costing 4.7 Advantages of Variable Costing 4.8 Limitations of Variable Costing 4.9 Incomes Determination under Absorption Costing and Variable Costing 4.9.1 Income Determination under Absorption Costing Technique 4.9.2 Income Determination under Variable Costing Technique 4.10 Distinction between Absorption Costing and Variable Costing 4.11 Worked-Out Problems Chapter Review Summary Chapter Review Quiz Exercise Chapter 5: Marginal Costing and Cost–Volume–Profit Analysis 5.1 Concept of Marginal Cost 5.2 Definition of Marginal Costing 5.3 Features of Marginal Costing 5.4 Advantages of Marginal Costing 5.5 Limitations of Marginal Costing 5.6 Meaning of Cost–Volume–Profit (CVP) Analysis 5.7 Features of CVP Analysis 5.8 Objectives of CVP Analysis 5.9 Assumptions Underlying CVP Analysis 5.10 Classification of Cost Under CVP Analysis 5.11 Elements of CVP Analysis 5.12 Break-even Analysis (BE Analysis) 5.13 Cash Break-even Point 5.14 Composite Break-even Point 5.15 Cost Break-even Point/Cost Indifference Point 5.16 Break-even Chart (Be Chart) 5.16.1 Presentation of Be Chart 5.16.2 Analytical Break-even Chart 5.17 Angle of Incidence 5.18 Assumptions Underlying Break-even Analysis/Charts 5.19 Advantages of Break-even Analysis/Charts 5.20 Limitations of Break-even Analysis/Charts 5.21 Multiple Break-even Points 5.22 Concept of Key or Limiting Factor 5.23 Mathematical Representation of CVP Analysis 5.24 Different Formulae of CVP Analysis at a Glance 5.25 Worked-Out Problems Chapter Review Summary Chapter Review Quiz Exercise Chapter 6: Decision Making 6.1 Concept of Decision Making 6.2 Steps in Decision Making 6.3 Cost Concepts in Decision Making 6.4 Concept of Relevant Cost and Relevant Revenue 6.5 Comparison of Differential Cost Analysis and Marginal Costing 6.6 Different Situations of Decision Making 6.6.1 Determination of Most Profitable Product/Sales Mix 6.6.2 Accept or Reject Decision 6.6.3 Make or Buy Decision 6.6.4 Operate or Shut-Down Decision 6.6.5 Fixation of Selling Price 6.6.6 Exploring New Markets 6.6.7 Further Processing of Joint Products/By-products 6.7 Worked-Out Problems Chapter Review Summary Chapter Review Quiz Exercise Chapter 7: Responsibility Accounting 7.1 Meaning and Concept of Responsibility Accounting 7.2 Prerequisites of Responsibility Accounting 7.3 Assumptions of Responsibility Accounting 7.4 Advantages or Benefits or Purposes of Responsibility Accounting 7.5 Limitations of Responsibility Accounting 7.6 Responsibility Centre 7.7 Types of Responsibility Centres 7.7.1 Cost Centre 7.7.2 Profit Centre 7.7.3 Investment Centre 7.8 Controllable and Non-Controllable Costs 7.9 Responsibility Reporting 7.10 Types of Responsibility Reports 7.11 Measurement of Divisional Performance 7.11.1 Financial Measures of Divisional Performance 7.11.2 Non-financial Measures of Divisional Performance 7.12 Worked-Out Problems Chapter Review Summary Chapter Review Quiz Exercise Appendix