To learn the fundamentals of accounting and financial management.
Assets – Liabilities – Types - Trading account – Accounting records and Systems – Limitations - Income statement – Preparation and Interpretation
Depreciation – Methods - Inventory methods, Sources of working capital, Fund flows, Cash flows – Financial Statement analysis
Ratio analysis - Use of ratios in interpreting Trading Accounts and Financial Statements, Limitations – Management Accounting
Variable costs – Fixed costs – Cost Volume Profit Analysis – Break even marginal and full costing contribution, Standard costing - Analysis of variance - Computer accounting and algorithms
Characteristics of Budgets - Forecasting – Long term, Short term – Methods of capital investment decision making, Sensitivity Analysis, Cost of capital
1. S.N. Maheswari and S.K. Maheswari, “An Introduction to Accountancy”, 8th Edition, Vikas Publishing, 2003.
2. Manmohan and Goyal, “Principles of Management and Accounting”, 5th Edition, SahityaBhawan, 1994.
Students will
1.Prepare and analyse the final accounts of the firm
2.Prepare and analyse the funds & cash flow statements of the firm
3.Perform basic analysis of financial statements and write a report on the financial performance, conditions and effectiveness of the firm
4. Analyse and evaluate costing systems
5.Prepare different types of budgets and policies