Cost and Management Accounting
Unit-1 Nature, Scope of Management Accounting
Cost Accounting and Financial Accounting
Types of Accounting Cost Accounting Cost accounting is a crucial part of any accounting system,...
Management Accounting
Management Accounting Management accounting focuses on the design and use of accounting informati...
Cost Accounting versus Management Accounting
Cost Concepts
Basics of Costs What is Cost? Cost is the monetary value of resources sacrificed or to be sacrifi...
Elements of Cost
Cost accounting classifies costs into three primary categories: Material, Labor, and Expenses. M...
Total Cost and Cost Sheet
Total Cost Calculation Inventory Adjustments Several adjustments are made for changes in invento...
Overheads
Assignment of Direct and Indirect Costs Direct Costs: Costs that can be specifically and exclus...
Classification of Cost
Fixed Costs Fixed costs are those costs that remain constant in total amount regardless of chang...
Unit 2- Cost-Volume-Profit Analysis
Absorption Costing and Marginal Costing
Absorption Costing vs. Marginal Costing Cost accounting methods play a crucial role in determinin...
Cost Volume Profit Analysis
Cost-Volume-Profit (CVP) Analysis CVP analysis is a crucial tool in profit planning. It provides ...
Contribution; P/V Ratio
Contribution Margin and Profit/Volume (P/V) Ratio These two concepts are fundamental tools in cos...
Break Even Analysis
Break-Even Analysis Break-even analysis is a widely used technique in cost-volume-profit (CVP) an...
Relevant Costs and Decision Making
Relevant Costs in Managerial Decision-Making In managerial decision-making, choosing the right co...
Unit-3 Budgets and Budgetary Control
Budgetary Control
Budget, Budgeting, and Budgetary Control Budget A budget is a plan, expressed in monetary or quan...
Types of Budget: Sales Budget and Production Budget
Sales Budget The sales budget is a crucial component of the overall budgeting process. It's a sta...
Types of Budget: Production Cost budget ; Raw material Purchase budget; Overhead Budget
Production Cost Budget The Production Cost Budget is a crucial financial document that estimates ...
Types of Budget: Cash Budget and Master Budget
Cash Budget The cash budget is a critical financial document, often one of the last budgets to be...
Types of Budget: Fixed budget and Flexible budget
Fixed Budget A fixed budget is prepared based on a single, predetermined level of activity. It a...
Zero based budgeting
Zero-Based Budgeting (ZBB) Zero-based budgeting (ZBB) is a budgeting approach that requires every...
Unit-4 Standard Costing and Variance Analysis
Standard Cost and Standard Costing
Historical Costing and Standard Costing Historical Costing In the early development of cost accou...
Variance Analysis
Variance Analysis Variance analysis is a crucial process in management accounting that helps orga...
Material Cost Variance
Material Cost Variance (MCV) The Material Cost Variance (MCV) measures the difference between the...
Labour Cost Variance
Labour Cost Variance (LCV) The Labour Cost Variance (LCV) measures the difference between the STA...
Unit-5 Contemporary issues in Cost Accounting and Management Accounting
Introduction
Cost Management: A Strategic Approach to Business Success In today's competitive business environ...
Target Costing
Pricing Strategies: Cost-Based vs. Market-Based (Target Costing) Pricing is a critical aspect of ...
Life Cycle Costing
Life Cycle Costing: A Holistic Approach to Cost Management Life cycle costing (LCC), also known a...
Quality Costing
Quality Costing In today's competitive market, quality is a key differentiator. Leading companie...
Activity based costing
Activity-Based Costing (ABC): A Modern Approach to Cost Management Traditional costing methods, w...