ACCOUNTING FOR MANAGERIAL DECISION MAKING UNIT 1.

INTRODUCTION Meaning of accounting and financial statements Accounting standards Accounting Mechanics UNIT 2. ACCOUNTING FOR INVENTORIES AND FIXED ASSETS Introduction Cost of inventory Methods of inventory costing Inventory control techniques Determination of the cost of various types of fixed assets Concept and methods of providing depreciation Implications on changing the method of depreciation UNIT 3. PREPARATION OF FINANCIAL STATEMENTS: TRIAL BALANCE AND ADJUSTMENTS Preparation of trial balance from general ledger balances Detecting errors revealed and concealed by a trial balance Passing of different adjustments entries UNIT 4. PREPARATION OF FINANCIAL STATEMENTS: PROFIT AND LOSS ACCOUNT Preparation of P&L a/c from a given trial balance Distinction between capital and revenue expenditure UNIT 5. PREPARATION OF FINANCIAL STATEMENTS: BALANCE SHEET Preparation of balance sheet Limitation of balance sheet Vertical form of financial statement Analysis of balance sheet RECOMMENDED BOOKS: R. Narayanaswamy: Financial Accounting A Managerial Perspective (PHI: Latest Edition) Dr. Ambrish Gupta: Financial Accounting for Management (Pearson Education) Dr. Jawaharlal: Accounting for Management, HPH Khan and Jain: Management Accounting, TMH Louderback and Holmgren: Managerial Accounting, Thomson ASSESSMENT Internal Assessments: 25% weightage Attendance and Class Participation: 5 marks Quizzes: 10 marks Comparative balance sheet analysis project and presentation: 10 marks