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Course Code 101: Accounting For Business Decisions

This course aims to provide students with an understanding of financial, cost, and management accounting concepts and tools for business decision making. The course is divided into 5 units that cover basic accounting concepts, financial statements, cost accounting, cost control and analysis techniques, budgeting, and standard costing. Students will learn to prepare financial statements, calculate variances, conduct break-even analysis, and make pricing and product mix decisions. Assessment includes exams, assignments, and projects focused on numerical problems related to financial statements, costing, budgeting, and variance analysis. Recommended textbooks and supplementary materials are also provided.

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Kapil Dalvi
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111 views14 pages

Course Code 101: Accounting For Business Decisions

This course aims to provide students with an understanding of financial, cost, and management accounting concepts and tools for business decision making. The course is divided into 5 units that cover basic accounting concepts, financial statements, cost accounting, cost control and analysis techniques, budgeting, and standard costing. Students will learn to prepare financial statements, calculate variances, conduct break-even analysis, and make pricing and product mix decisions. Assessment includes exams, assignments, and projects focused on numerical problems related to financial statements, costing, budgeting, and variance analysis. Recommended textbooks and supplementary materials are also provided.

Uploaded by

Kapil Dalvi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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COURSE CODE 101:

ACCOUNTING FOR
BUSINESS DECISIONS
COURSE OBJECTIVES

• 1. To understand the basic concepts of financial accounting,


cost accounting and management accounting.
• 2. To know various tools from accounting and cost accounting
this would facilitate the decision making.
• 3. To develop analytical abilities to face the business
situations.
•
UNIT 1

Basic Concepts:
• Meaning of Business decisions and importance of business decisions.
• Forms of business organizations
• meaning of accounting, basic concepts, terms used in business
accounting.
• Types of accounts, journal, ledger and trial balance.
• Accounting equations and users of accounting information.
• Accounting concepts and conventions.
• Difference between financial, cost accounting and management
accounting
• Use and applicability of Tally in accounting.
UNIT 2

Understanding of Financial Statements:


• Meaning , Importance and objectives of financial statements.
• Preparation of final accounts of sole proprietary firm.
• Making financial decisions on the basis of financial
statements.
UNIT 3

• Basic concepts of cost accounting.


• Objectives of Cost Accounting, Classification and analysis of
costs, Relevant and irrelevant costs, differential costs, sunk
costs
• Preparation of Simple Cost sheet.
UNIT 4

• Material cost control


• Procurement
• Pricing of issues
• Inventory control techniques
• Fixation of various levels
• Economic order quantity,
• Material losses, Labour cost control, time keeping and time
booking
• Overheads, Collection, Classifications, allocation and
apportionment of overheads.
UNIT 5

• Marginal costing
• Break-even point
• Cost Volume Profit analysis, Optimizing product mix, Pricing
decisions.
• Budgeting - Cash and Flexible budgets only
• Standard costing – Material and Labour Variances only.
WEIGHTAGE

• Total : 100 Marks


• SPPU Written: 50 Marks
• SPPU Online : 20 Marks (MCQ Questions)
• Internal : 30 Marks
• Internal Consist of Assignment , Class Test ,MCQ Test

• SPPU Written Pattern:


• Theory Questions : 30% (15 Marks)
• Numerical problems : 70% marks in the final question paper. (35 Marks)
Numerical Problems will be asked on the following topics:
• Preparation of financial statements of proprietary concerns. (Unit
2)
• Pricing of issues: - FIFO, LIFO, Simple Average & Weighted
average methods. (Unit4)
• Allocation and apportionment of Overheads. (Unit 5)
• Computation BEP and related areas.(Unit 4)
• Optimizing product mix. Make or buy decisions. (Unit 4)
• Cash and Flexible budgets (Unit 5)
• Computation of Material and Labour variances. (Unit 5)
• Cost Sheet or Types of Costs (Unit 3)
TEXT BOOKS

• Management Accounting – Dr. Mahesh Kulkarni


• Accounting For Business Decisions by Dr. E B Khedkar and
Dr. D B Bharati
REFERENCE BOOKS

• Financial Accounting for Management: Shankarnarayanan/ Ramanath- CENGAGE


Learning
• Financial Cost and Management Accounting - P Periasamy
• Management Accounting - Madhu Vij
• Fundamentals of Management Accounting – H. V Jhamb
• Cost and Management Accounting – M N Arora
• Financial Accounting for Managers – Mr. Sanjay Dhmija, Pearson Publications
• Management Accounting – Mr. Anthony Atkinson, Robert Kaplan, Pearson
• Management Accounting – Mr. Khan and Mr. Jain, Tata McGraw Hill
• Financial Accounting part I – Mr. S. N. Maheshwari
• Accounting For Management-Jawarhar Lal
• Accounting – Shukla Grewal
•
SUPPLEMENTARY
READING MATERIAL

• Management Accounting - Mr. Ravi Kishore


• Accounting for Managers – Dearden and Bhattacharya
• Websites-Institute of Cost Accountants, Institute of Chartered
Accountants
• Journals - Indian Journal of Finance

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