Accounting For Management

Cover
Half Title
About the Author
Title Page
Copyright
Dedication
Preface
Acknowledgements
Contents
Section 1: Financial Accounting
	1. Financial Accounting: Perspectives
		Introduction
		Accounting
		Accounting: The Modern Concept
		Accounting Principles
		Accounting Conventions and Policies
		Summary
		Review Questions
	2. General Accounting Principles and Accounting Standards
		Introduction
		Meaning of Transaction of Financial/Monetary Nature
		Classification of Accounting Principles
		Systems of Accounting
		Accounting Standards
		Summary
		Review Questions
	3. Accounting Mechanics: Basic Records
		Introduction
		Systems of Accounting
		Journal
		Classification of Goods Account
		Ledger
		Trial Balance
		Subsidiary Books
		Bank Reconciliation Statement
		Errors and Rectification
		Summary
		Review Questions
	4. Preparation of Financial Statements—Profit and Loss Account and Balance Sheet
		Introduction
		Trading Account
		Profit & Loss Account
		Balance Sheet
		Preparation of Trial Balance
		Summary
		Review Questions
	5. Revenue Recognition
		Introduction
		The Accounting Principles
		Methods
		Summary
		Review Questions
	6. Inventory Pricing and Valuation
		Introduction
		Inventory Control and Valuation
		Costs for Inventory Decisions
		Methods of Inventory Control
		Valuation of Inventories
		Summary
		Review Questions
	7. Depreciation Policy
		Introduction
		Methods of Depreciation
		Modern Depreciation
		Summary
		Review Questions
	8. Human Resource Accounting
		Introduction
		The Concept of Original Cost
		Human Resource Value Accounting
		Summary
		Review Questions
Section 2: Cost Accounting
	9. Cost Accounting: Perspectives
		Introduction
		Objects and Functions of Cost Accounting
		Distinction Between Cost Accounting and Financial Accounting
		Classification of Costs
		Summary
		Review Questions
	10. Costing and Control of Overheads
		Introduction
		Various Methods of Calculating Oncost
		Allocation of Office and Administrative Expenses
		Allocation of Selling and Distribution Expenses
		Departmentalisation of Overheads
		Summary
		Review Questions
	11. Costing and Control of Labour
		Introduction
		Methods of Remuneration
		Bonus Schemes or Premium Plans
		Co-Partnership and Profit-Sharing Schemes
		Summary
		Review Questions
	12. Job Order Costing and Target Costing
		Introduction
		Contract Costing
		Type of Contracts
		Summary
		Review Questions
	13. Process Costing and Activity Based Costing
		Introduction
		Special Features of Process Costing
		Direct and Indirect Expenses
		Activity Based Costing (ABC)
		Target Costing
		Summary
		Review Questions
	14. Profit Planning-I: Marginal Costing
		Introduction
		Concept of Marginal Costing
		Practical Applications of Marginal Costing
		Concept of Decision–Making
		Advantages and Limitations of Marginal Costing Technique
		Meaning of Key Factor
		Cost Volume Profit Relationship
		Summary
		Review Questions
	15. Profit Planning-II: Break Even Analysis
		Introduction
		PV Ratio: Meaning—Its Improvement and its Aplication
		Determination of Break Even Point
		Summary
		Review Questions
	16. Standard Costing and Analysis of Variances
		Introduction
		Standard Cost and Other Cost Systems
		Advantages of Standard Costing
		Variance Analysis
		Classification of Variances
		Summary
		Review Questions
Section 3: Management Accounting
	17. Management Accounting: Perspectives
		Introduction
		Functions of Management Accounting
		Difference Between Management Accounting & Financial Accounting
		Role of Management Accountant
		Role of Management Accounting
		The Utility and Limitations of Management Accounting or a Managerial Tool
		The Various Tools of Management Accounting
		Limitations of Management Accounting
		Summary
		Review Questions
	18. Planning for Liquidity-I: Statement of Sources and Application of Funds
		Introduction
		Concept of Funds
		Fund Flow Statement
		Advantages of Funds Flow Statement
		The Technique of Preparing a Funds Flow Statement
		Analysis of Flow of Funds
		Summary
		Review Questions
	19. Planning for Liquidity-II: Cash Flow Statement
		Introduction
		Concept of Funds
		Constructing the Cash Flow Statement
		Summary
		Review Questions
	20. Profit Planning-III: Budget and System of Budgetary Control
		Introduction
		Objective of Budgetary Control System
		Essentials of Good Budgetary Control System
		Meaning of Fixed Budget and Flexible Budget
		Various Kinds of Functional Budget
		Benefits and Limitations of the Budgetary Control Systems
		Budgetary Control Organisation
		Planning and Budget
		Planning for Profit-Budgets
		Review Questions
	21. Understanding Financial Statements
		Introduction
		Balance Sheet and Income Statement
		Nature of Financial Statements
		Limitations of Financial Statements
		Computation of Trend Percentages
		Rest of Solvency or Analysis of Long-Term Financial Condition 21.
		Test of Overall Profitability
		Analysis of Capital Structure
		Role of Ratio Analysis
		Summary
		Review Questions
	22. Performance Measurement and Control
		Introduction
		A Division—An Independent Profit Centre
		Quantitative Evaluation of a Division
		Requirements for Profit Performance Measurement
		Computing Divisional Investment
		Transfer Price
		Performance Appraisal in Public Sector Undertakings
		Summary
		Review Questions
	23. Financial Statements Analysis: Accounting Ratios
		Introduction
		Current Ratio
		Acid Test Ratio
		Inventory Turnover Ratio
		Debtors’ Turnover Ratio
		Debt to Equity Ratio
		Revenue Statement Ratios
		Summary
		Review Questions
	24. Management Reporting Systems
		Introduction
		Reporting Needs of Different Management Levels
		Types of Reports
		General Principles of Reporting
		Modes of Reporting
		Preparation of Reports
		Uses of Reports by Management
		Methods of Reporting
		Summary
		Review Questions
Glossary
Index