Management accounting – Meaning, nature, scope and functions, need, importance and limitations – Management Accounting vs Cost Accounting - Management Accounting vs. Financial Accounting - Analysis and Interpretation of financial statements – Nature, objectives, essentials and tools - Methods – Comparative Statements, Common Size statement and Trend analysis.

Ratio Analysis – Interpretation, benefits and limitations -Classification of ratios-Liquidity, Profitability, Turnover - Construction of Balance Sheet.

Funds flow and Cash flow analysis - Budgets and Budgetary control – Meaning, objectives, merits and demerits.

Cost-Volume-Profit Analysis-Marginal Costing and Break Even Analysis, Managerial Applications of Marginal Costing-Significance and Limitations of Marginal Costing.

Variance Analysis – Material, Labour and Overhead Variances