Cost Accounting – Meaning – Definition – Difference between Financial and Cost Accounting – Importance of Cost Accounting – Relationship between Cost and management Accounting – Methods of Costing – Elements of Cost – Cost Concepts – preparation of Cost Sheet – Material Control – Fixation of Stock levels – E.O.Q.- Pricing of material issues – inventory Control.

Labour Cost – Methods of Wage payment(lab 31) – Incentive Systems – idle time – over-time – labour Turnover – Causes of Labour Turnover (lab 16) – overheads – allocation and absorption of overheads.

Nature and Scope of Management accounting – Meaning – Objectives – Importance – limitations – Financial Statement Analysis – Ratio Analysis – Uses and limitations of Ratios.

Funds Flow statement – Meaning and concept of Funds and Flow of Funds – Importance or uses of Funds Flow statements – Limitations – Schedule of changes in working capital –Preparation of Funds Flow statement – Cash Flow statement – Comparison between Funds Flow statement and Cash Flow statement – uses of Cash Flow statement – Limitations – Preparation of Cash Flow Statement

Cost – Volume – Profit Analysis – marginal costing – Break Even Analysis – Managerial application of Marginal Costing – significance – limitations – Budgeting and Budgetary Control – Preparation of Budgets – Material Procurement – Production – Sales – Flexible and Cash budgets.