Cost Accounting – Meaning - Definition – Scope – Objectives - Advantages and Limitations - Difference between Financial and Cost Accounting – Methods of Costing – Preparation of cost sheet –Material control –Level of Material Control -EOQ Economic Order Quantity –Pricing of material issues - Inventory Control.

Labour: System of wage payment – Idle time – Control over idle time – Labour turnover. Overhead –Elements - Classification of overhead – allocation and absorption of overhead.

Management accounting – Meaning, , importance and limitations – Management Accounting vs Cost Accounting - Management Accounting vs. Financial Accounting - Analysis and Interpretation of financial statements –Methods – Comparative Statements, Common Size statement and Trend analysis- Ratio analysis – Classification of Ratio analysis – Liquidity Ratio, Profitability Ratio, Turnover ratio – Construction of Balance sheet.

Funds flow statement – Meaning and Importance – Schedule of Changes in working capital – Preparation of fund flow statement. Cash flow analysis: Meaning and Importance – Difference between Fund flow and Cash flow statement – Advantages and Disadvantages – Preparation of Cash flow statement.

Cost Volume Profit Analysis- Marginal Costing - Break Even Analysis - Managerial Applications of Marginal Costing-Significance and Limitations of Marginal Costing. Budgeting and Budgetary control - Preparation of budget - Material Procurement - Production – Sales - Flexible and Cash budget