Coming soon
Accounting for managers (Theory)
This course will enable the students to apply principles and techniques of Accounting for managerial decision making.
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Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Course Code |
Course title |
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24MTM125 |
Accounting for Managers (Theory) |
CO25: Analyze basic Accounting concepts and principles and explore recent developments in Accounting. CO26: Analyze Accounting Equation, differentiate between types of Accounts, prepare journal entries and a Trial Balance. CO27: Prepare Final Accounts of a Company. CO28: Analyze using various tools and techniques of financial analysis used for decision making. CO29: Examine different types of cost. prepare a Cost Sheet and Evaluate different alternatives using techniques of CVP analysis for sound decision making. CO30: Contribute effectively in course-specific interaction |
Approach in teaching: Interactive Lectures, Group Discussion, Tutorials, Case Study
Learning activities for the students: Self-learning assignments, presentations |
Continuous Assessment Test, Semester end examinations, Quiz, Assignments, Presentation |
Introduction to Accounting
Introduction
Accounting-Meaning and definition, Nature, Need, objectives, Importance, Limitations, Common Accounting terms, Users of accounting information, Branches of accounting- Financial Accounting, Cost Accounting and Management Accounting-Nature, Differences and limitations, Generally accepted accounting principles (GAAP)-Accounting Concepts, Conventions and Standards (IFRS and Ind AS)
Recent developments in Accounting: Human Resource Accounting, Inflation Accounting, Responsibility Accounting-Concept
Basics of Financial Accounting
Basics of Financial Accounting
Accounting equation, Systems of Book Keeping, Types of accounts and their Rules, Basics of Journal and ledger Trial Balance-meaning, preparation, errors
Final Accounts
Final Accounts
Profit & Loss Account and Balance Sheet-Content and preparation with adjustments
Financial Analysis
Financial Analysis
Meaning, objectives and types of financial analysis
Tools or techniques of financial analysis-Ratio analysis (meaning, objectives, limitations, classification, preparation of financial statements from ratios), Comparative and common size financial statements, Fund Flow analysis and Cash Flow Analysis- Meaning, difference and Content
Introduction to Cost & CVP Analysis
Cost concepts-Meaning, Objectives, Importance, Methods, Techniques and systems of costing; Basic Cost Concepts-Elements of cost, classification of costs; Cost sheet Cost-Volume-Profit Analysis-Meaning, Assumptions, Significance, Break even analysis, Contribution and Marginal cost equation, Profit-Volume ratio, Margin of safety, key factor; Effect of change in the profit factors
*Case studies related to entire topics are to be taught
- Financial Accounting for Managers, 3e Dhamija, Pearson
- Financial Accounting: A Managerial Perspective, Seventh Edition, Narayanaswamy, PHI
Suggested Readings:
· Agarwal M R, Management Accounting-I, Garima Publications
· Financial Accounting for Management: An Analytical Perspective, Sixth Edition, Gupta, Pearson
· Horngren, Management Accounting, Pearson Education.
· IM Pandey, Management accounting, Vikas Publishing House.
· M. Y Khan, P.K. Jain, Management Accounting: Text problem and Cases. Tata McGraw Hill.
· M.N. Arora, Cost Accounting Principles & Practices, Eight edition, Vikas Publishing house.
· Madhu Vij, Management Accounting, MacMillan
· Maheshwari, Maheshwari, A text book of Accounting for Management, Sultan Chand & Sons.
E-Resources:
· Financial Accounting for Management, 6eGupta, Elibrary.in.pearson.com
· Financial Accounting for Managers, 3e Dhamija, Elibrary.in.pearson.com
· Introduction to Management Accounting, 16e Horngren / Sundem / Stratton / Schatzberg / Burgstahler, Elibrary.in.pearson.com
· Managerial Accounting, 3e Braun Elibrary.in.pearson.com
Journals:
· IUP Journal of Accounting Research
The Chartered Accountant
