Accounting for Managers

Paper Code: 
MIV 125
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Course Outcomes (COs):

 

Course Outcomes

Learning and teaching strategies

Assessment Strategies

On completion of this course, the students will be able to;

CO 25. Differentiate basic Accounting concepts and principles.

CO 26. Construct journal entries, Trial Balance and Final Accounts of a Company.

CO 27. Analyze using various tools and techniques of financial analysis used for decision making.

CO 28. Examine different types of cost and prepare a Cost Sheet

CO 29. Evaluate different alternatives using techniques of CVP analysis for sound decision making.

CO 30. Examine             various contemporary            issues/concepts in Accounting

Approach in teaching:

Interactive        Lectures, Group                     Discussion, Tutorials, Case Study

Learning activities for the students:

Self-learning                          assignments, presentations

Class   test,           Semesterend              examinations,

Quiz,                Assignments, Presentation

 

12.00
Unit I: 
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

12.00
Unit II: 
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

12.00
Unit III: 
Final Accounts

Profit & Loss Account and Balance Sheet-Content and preparation with adjustments

12.00
Unit IV: 
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

12.00
Unit V: 
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

Essential Readings: 

*Case studies related to entire topics are to be taught.

Essential Readings:
• Madhu Vij, Management Accounting, MacMillan
• Maheshwari, Maheshwari, A text book of Accounting for Management, Sultan Chand & Sons.

References: 

Suggested Readings:
• M. Y Khan, P.K. Jain, Management Accounting: Text problem and Cases. Tata McGraw Hill.
• Horngren, Management Accounting, Pearson Education.
• Anthony Robert, Management Accounting Principles, R D. Irwin.
• IM Pandey, Management accounting, Vikas Publishing House.
• M.N. Arora, Cost Accounting Principles & Practices, Eight edition, Vikas Publishing house.
• Agarwal M R, Management Accounting-I, Garima Publications

E-Resources:
• Financial Accounting for Management, 6eGupta, Elibrary.in.pearson.com
• Financial Accounting for Managers, 3e Dhamija, Elibrary.in.pearson.com
• Managerial Accounting, 3e Braun Elibrary.in.pearson.com
• Introduction to Management Accounting, 16e Horngren / Sundem / Stratton / Schatzberg / Burgstahler, Elibrary.in.pearson.com

Journals:
• IUP Journal of Accounting Research
• The Chartered Accountan

ACADEMIC YEAR: 
2022-2023
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