Management Accounting – Meaning – Objectives and Scope – Relationship between Management Accounting, Cost Accounting and Financial Accounting – Financial Statement Analysis – Common Size Statement, Comparative Statements and Trend Analysis

Ratio Analysis: Uses and Limitations - Analysis of Liquidity – Solvency and Profitability – Construction of Balance Sheet.

Fund Flow Statement: Uses and Limitations – Difference Between Cash Flow Statement and Fund Flow Statement - Preparation of Fund Flow Statement: Statement of Changes in Working Capital – Statement of Funds From Operations – Statement of Sources and Applications of Funds. Cash Flow Statement: Concept - Uses and Limitations Preparation of Cash Flow Statement.

Marginal costing – Meaning – Managerial Application (Theory) - Marginal Costing Vs Absorption Costing. Break Even Analysis (problems) – Cost Volume Profit Analysis.

Budgeting and Budgetary Control – Budget – Budgeting Control – Characteristics of a Budget – Classification of Budget - Sales Budget, Purchase Budget, Cash Budget, Flexible Budget, Zero Based Budgeting (Theory).