Management Accounting
In management accounting, accounting information after analyzing and interpreting by objectives is presented to the management so as to assist in the execution of determination of policies, planning, decision-making and co-ordinating functions. According to RN Anthony, Management Accounting is concerned with accounting information that is useful to management. According to Institute of Chartered Accountants, England, Any form of accounting which enables a business to be conducted more efficiently can be regarded as Management Accounting. According to TG Rose, Management Accounting is the adaptation and analysis of accounting information and its diagnosis and explanation in such a way as to assist management. Objective or Utility of Management Accounting 1. 2. 3. 4. 5. 6. 7. 8. 9. To help in planning and policy making To help in organization To help in decision making To help in controlling To help in coordinating To help in communication Helpful in reporting To assure responsibility To help in motivation

1. To help in planning and policy making- Planning involves setting of goals, formulation of policies, and determination of future plans. On the basis of data obtained from financial accountants, policies regarding production, sale, finance and marketing, are formulated. Determination of alternative course of action and initiation of necessary programmes to achieve and attain the required goal, is also a part of planning. 2. To help in organization- Organisation is an important process of administration. It is a vital means of attaining specified objectives and performance of its policies. As is evident from the definitions given above, organization includes the presentation of accounting information and data to the management in such a manner that management can obtain them at the right time in the right manner. 3. To help in decision making- In management accounting different plants are formulated with regard to purchases, sales, finance and production. On the basis of comparative study of information and the data, different alternatives of management decisions are studied and the most profitable one of them is selected.

FACULTY .The most important task of management accounting is to make available necessary data and other material for different levels of management for decision making. the work of all employees determined in such a manner that every one in the organization gets the work of his choice and interest. MJRP UNIVERSITY. To help in controlling. This function is discharged with the help of reports. 8. The variation between the two are ascertained and set right immediately. Helpful in reporting. 5. 9.It is also the objective of management accounting to fix the responsibility of reporting process.The aim of management accounting is to help the management in coordinating different activities of the firm. Heads of different departments also communicate the performance report to top management with the help of reports. Cost Accounting 3.With the help of management accounting. Tax Accounting 8. To help in coordination. LLB. MBA. It will facilitate the management to take prompt and timely decisions. Cost control techniques 5. Statistical Methods 7. To help in motivation. PHD. It also involves the coordination work between financial accounting and cost accounting. It is performed with the help of interim reports and other statements. For this purpose various responsibility centers are established for attaining particular targets and objectives so that each and every person in the organization is made interested. Office Services 10. The evaluation of various departments is also communicated regularly to the top management. BCOM 4. activities of different departments are coordinated. PGDBM. Budgeting and Forecasting 4. Interpretation of financial data 6.MKTG. Financial Accounting 2. Internal Auditing .FINANCE.YOGESH KUMAWAT. Scope of Management Accounting 1. To help in communication. Reporting 9. 7. With the help of budgeting. 6. The management accounting plays a vital role in this regard.It is also one of the objectives of management accounting to help the management to provide upto date information about the latest financial position of the firm. To Assure responsibility. Purchase and production budgets along with financial and sales budgets are also coordinated in such a manner that there is no hurdle in performing various activities of the firm.One of the main object of management accounting is to direct all efforts towards the attainment of goals by means of comparison and effective control of various attainments with the pre-determined goals.

budgetary control. analysis of variances and reporting to the management. 3. BCOM 1. 2. Tax Accounting. Financial Accounting. Various techniques of cost accounting like inventory control.Financial accounting is the general accounting which relates to the recording of business transactions in the books of primary entry. regression analysis.YOGESH KUMAWAT. 5. The business profit and the tax thereon is to be ascertained as per the provisions of the Income Tax Act. diagrams. game theory. On the basis of it. Thus. Cost Accounting. the profitability of the business can be increased by improving its financial position. 4. balancing them and preparing a trial balance. MBA. index numbers etc. targets are set for different departments and responsibility is fixed for achieving these targets. Planning. liquidity) of the firm with the help of analysis and interpretation of the information contained in financial statements. This work is performed by comparing actual costs with budgeted standards. is a prediction of what will happen as a result of a given set of conditions. Cost control techniques. state or local government in due time and payment of tax assessed is exclusively the responsibility of the management accountant. solvency.Modern managers believe that financial and economic data available for managerial decisions can be more useful when analysed with statistical and quantitative techniques. Then a profit and loss account showing the results of the business for the accounting period and also a balance sheet on a specified date depicting assets and liabilities of the business concern are prepared. MJRP UNIVERSITY. Forecasting. A person can get meaningful information and conclusions about the financial health (profitability.Taxation plays an important role in the profitability of a business concern.Analysis and interpretation of financial statements is am important part of management accounting. Budgeting and Forecasting: Budgeting means expressing the plans. in their decision-making process. for carrying out such functions effectively. Further.FINANCE.Cost control techniques are required to use the various factors of production in the most economical manner. PGDBM. 6. comprehensive and intelligible. Under budgeting system. managers also use techniques like linear programming.It is process and technique of ascertaining cost. This in turn forms the basis for analysis and interpretation for meaningful data to the management. Interpretation of financial data. decision-making and control are the basic managerial functions. FACULTY . . The comparison of actual performance with budgeted data will provide an idea about the performance of the department. inventory control. make the information more impressive. The techniques such as time series.MKTG. The preparation and filing of return of tax imposed by central. queuing theory etc. PHD. standard costing are used for this purpose. the operational control is exercised through budgets. charts. marginal costing etc. Statistical Methods. sampling techniques are highly useful for planning and forecasting. on the other hand. budgetary control. Statistical tools such as graphs. posting them into respective ledger accounts. Numerous techniques have been developed which can be used for the proper interpretation and analysis of financial statements. policies and goals of the enterprise for a definite period in future. LLB. Cost accounting is considered as the backbone of management accounting as it provides the tools such as standard costing. 7.

Its areas of responsibility also include the evaluation and reporting about the utility of different office procedures and methods. To Assist in planning. Planning also involves selection of the best among all alternatives available. copying and duplicating. 3. The basic responsibility of management accountant is to keep the management well informed about the operations of the business. 3. production. For this task. To discharge this responsibility efficiently. To Assist in organizing. 5. It makes arrangements for internal control by establishing internal audit coverage for all operating units.The internal audit is a discipline of management accounting. Management accounting helps management in performing this function by . Coordination is done through functional budgets.YOGESH KUMAWAT. Coordination not only helps in accomplishing the set goals and tasks but also assists management in successfully running the business enterprise. Management accounting concerns with the establishment of cost centres. management accounting provides past years comparative figures and forecasts for future relating to sales.Management accounting provides tools which are helpful in coordinating the activities of different sections or departments. Management accounting helps in this regard by providing data in terms of cost.Reporting within reasonable time is essential for quick and timely action. filing. FACULTY . Reporting. 9. price. Hence. MJRP UNIVERSITY.FINANCE. Office Services. 4.Management has to plan its future activities.MKTG. income or profit to evaluate various alternatives.The office routine is controlled by management accountant. 4. dealing of inward and outward mails etc. cash and funds flow. Functions of Management Accounting 1. he has to deal with data processing. Internal Auditing.Organisation is related to the establishment of relationship among different individuals in the concern. BCOM 8. MBA. preparation of budgets. reports prepared at lower level are presented to its higher level. These reports may include financial statements. stock reports etc. Management accounting reports serve as a link between various departments. To Assist in coordination. LLB. PGDBM.Control is one of the basic function of management. 2. To Assist in control. It also includes delegation of authority and fixing of responsibilities. 10. All these aspects are helpful in setting up an effective and efficient organizational framework. cash etc. PHD. preparation of cost control accounts and fixing of responsibility of different peoples. Internal audit assists the management in fixing responsibility of different individuals. 2. To Assist in planning To Assist in organizing To Assist in co-ordination To Assist in control To Assist in decision-making 1.

standard costing and other cost control techniques of material. costvolume profit analysis and project appraisal etc. 6. 7. Limitations of Management Accounting 1. costvolume-profit analysis etc. replacement of fixed assets. The techniques such as analysis and interpretation of financial statements. The information provided by management accounting helps management in selecting the most profitable alternative and taking correct decision. labour and indirect expenses of management accounting make effective control possible. used in management accounting are based on these accounting records. statistics. 5. For this purpose. budgetary control. Based on Accounting Information Not an alternative to administration Lack of knowledge of related subjects Lack of objectivity Costly Installation Wide Scope Evolutionary Stage Resistance 1. Not an alternative to administration. how far the decisions taken on the basis of these information are correct. MJRP UNIVERSITY. is not an alternative to management.Management accounting presents duly analysed and interpreted information before the top management. the various techniques of management accounting such as marginal costing. econometrics. FACULTY . standard costing. 3.MKTG. To Assist in decision-making.Management accounting is related to other subjects. 5. Management accounting supplies analytical information in terms of costs. 3.FINANCE. Budgetary control. Moreover. it has evolved on account of the development of these subjects. Based on Accounting Information. break-even analysis. 4. such as economics. Therefore.The management has to take certain decisions for day to day functioning of the business as well as planning for the future. depends upon the correctness and accuracy of these information. management. income or profits etc. The full benefits of management accounting can only be derived when . make or buy etc. PHD. regarding various alternatives. Lack of knowledge of related subjects. It also suggests the best possible alternatives to management. but ultimate decisions and corrective steps are being taken by the management. It is only a tool to assist the management which provides information for various decisions. prices. 2. are used. and not by management accountant. expansion or diversification. PGDBM. 8. engineering etc.Most of the information used in management accounting is derived from financial accounting and cost accounting and other similar records and documents. therefore. Management accounting. LLB.YOGESH KUMAWAT. MBA. 2. These decisions may be regarding seasonal or temporary stoppage of production. BCOM directing all accounting efforts in this direction.

Fund flow analysis 4. Its conventions are not as exact and established as of other sciences.The information presented to management are affected by personal judgement of the person who presents. This creates many difficulties in the implementation process. knowledge and ability to seek cooperation of the management accountant. it is very costly and only the large firms can afford it. Thus. views and opinions which sometimes bring adverse results to the firm. Standard costing . Budget and budgetary control 8. 7. This results in heavy investment and the costs of adoption of the system may outweigh its benefits. Therefore. FACULTY . Evolutionary Stage. MBA. 4. Hence. The is bound to attract opposition especially from labour force misinterpreting is as a tool meant for their exploitation unless a strong resistance is put. The decisions taken by management accountant are affected by his personal prejudices.FINANCE. Tools or Techniques of Management Accounting 1. the success of management accounting depends upon the understanding. analyse and interpret an historical event converted into monetary terms in a most objective manner. 6. It is easy to record.The installation of a system of management accounting in a business concern requires a very elaborate organization and a large number of manuals. Control accounting 10. PHD. Financial planning 2. MJRP UNIVERSITY. BCOM management accounting is fully acquinted with all these related subjects. today in the age of specialization. it would be difficult to install the system. Wide scope. But. it seems very difficult to posses knowledge of all such subjects by a single person.based. 8. it will be difficult to perform the same function in respect of future and unquantifiable situations in the light of past records.YOGESH KUMAWAT. It is still in the infancy stage and undergoing evolutionary process. Resistance-Installation of management accounting system involves basic changes in the pattern of working of executives workers and other personnel. Thus. management accounting is absolutely subjective. Lack of objectivity. LLB.MKTG. Financial Accounting and Analysis 3. PGDBM. Cash flow analysis 5. analyses and interprets such information. its results depend to a very great extent upon the intelligent interpretation of data for managerial uses. Historical cost accounting 6. Marginal costing 7.The scope of management accounting is wide and broad. Costly installation. Decision accounting 9.Management accounting is a new discipline and a growing subject too. 5. But. being an inexact science.

MJRP UNIVERSITY. flows and movement of fudn or working capital. Management information system 1. 2. in their decision making. This statement has now been considered as a very useful technique which provides complete and adequate information about how activities were financed.The system of recording actual cost data after it has been incurred is called historical cost accounting. Marginal Costing. It provides a clear picture of cash inflows and outflows from operating. There are two basic methods of cost ascertainments. It is an essential tool in the hands of management. It is a supplementary statement to final accounts of a corporate body which provides those information which are not available in other statements. 3.It is a technique with the help of which changes in working capital during two period of time are studied. These methods are essential to operate as another tool of management accounting i.It is the basic necessity for the success of business enterprise. Thus it is concerned with the finding out . It helps the management in planning. Thus. PHD. 4. LLB. standard costing. MBA. controlling the cash for formulating a financial plan. PGDBM. It is an attempt to determine the importance and meaning of financial statements data so that proper forecast may be made for the prospects of future earnings. Financial Accounting and Analysis. FACULTY . financing and investing activities of a business. a) Job costing b) Process costing. credit and discount policies to be followed. The following activities are included in financial planning: a) Estimation of capital requirement in total b) Determination offixed and working capital c) Determination of different sources of raising capital and capital structure d) Calculation of cost of capital to be raised through different sources e) Computation of comparative cost of raising capital through different sources and to ascertain the economical source f) Formulation of proper policies for management of capital. Cash flow analysis. ability to discharge its short term and long term debts and the possibility of a sound dividend policy with the analysis and interpretation of these statements and the presentation of information which will help to business executives. investors and creditors etc. Historical cost accounting. coordinating. It refers to the process of estimating total capital requirement and deciding about its nature and the sources of acquiring it. Financial planning. By analyzing the statement of changes in financial position of a firm one can find out the items causing changes in working capital. A cash flow statement is a statement that highlights upon the causes which brings changes in cash position of a business enterprise between two balance sheet dates.YOGESH KUMAWAT.FINANCE.It is a technique which deals with the principle of treating the cost of producing marginal unit.Financial accounting and its analysis is an important tool of management.e. 6. Fund flow analysis. BCOM 11. changes. how financial resources were collected and applied during a particular period and how the liquid position was affected.In fund flow statement cash as well as other components of working capital are considered while under cash flow statement we study only about the changes in cash position of the firm between two Balance Sheet dates. 5. fund flow statement is a sort of report of financial operations.MKTG.

FINANCE. interpretation and presentation at all levels of management. Break-even-point analysis. budgetary control. standard costing is a technique of cost accounting which compares the standard cost of a job or product or services rendered with the actual cost to determine efficiency of the operations so that remedial . FACULTY .The budgetary control is an essential tool of the management for controlling cost and maximizing the profits. This technique deals with the ascertainment by means of differentiating between fixed and variable costs. It is a technique which enables to reduce cost. internal audit and reports etc. In other words. under this technique various factors of production are combined in the most profitable manner. Budget and Budgetary control. Control Accounting.Control accounting is not a separate accounting system. marginal costing. coordination and control.YOGESH KUMAWAT. for example. its proper implementation.MKTG. It is an important device in the hands of management to take variety of different decisions. what price is to be charged. In other words. control reports and statements.It is a technique of cost control whereby standards costs of job or a process or a unit or output is predetermined and subsequently compared with actual costs to find out the differences between the two. It is a process involving an integrated application of different accounting tools. it is this field that the management can display its ingenuity in the analysis. differential costing. whether to make or buy. price. MJRP UNIVERSITY. Standard Costing. internal check. Decision Accounting. PGDBM. PHD. LLB. comparison and finding out reasons of differences between pre-determined or anticipated and the actual results. prevent wastage and maximize profits of a business enterprise. Its keynotes are planning. 9. Different systems have their control devices and these are used in control accounting. and profits furnished by management accounting and exercising the best choice after considering non-financial factors. BCOM marginal cost by segregating fixed cost and variable cost. It is a technique and modern tool of managerial control through preparation of various budgets. It also studies the profitability at various levels of output. are taken after studying the alternative data in terms of costs. MBA. of marginal costs and the effect on profit of the changes in volume of output. It consists of techniques of standard costing. 10. 8.It is the main function of top management. Decision on capital expenditure. It needs careful working out plans in advance for all divisions of a manufacturing unit. CVP analysis etc. expansion or contraction etc. 7.

it is necessary that some part of assets is liquid. It also facilities intra firm comparison that is comparison among various departments in the firm or comparison of efficiency for a number years of the same firm. PGDBM. Objective or Significance of Ratio Analysis 1. FACULTY . To ascertain operational efficiency. 40000 and CL= Rs 20000. For example. long term. To have knowledge of liquidity. 5. There are many ratios which have been evolved which can throw light on industrial sickness and which work as a thermo meter to measure sickness of an industry. 6. operating ratio. 3. PHD. MBA.YOGESH KUMAWAT. if current ratio of firm A is 2:1 with Rs.FINANCE. BCOM RATIO ANALYSIS Defination. To portray solvency. turnover ratios are calculated. called inter firm comparison. Short term solvency depends upon the liquidity of the business whereas for long term solvency proprietory ratio. LLB.There are many such ratios with help of which profitability of the business is ascertained. liquid ratio etc.Ratios may represent relative positions and they can not be substituted with actual data. is compared with firm B having CA= Rs.Now a days the position of industrial sickness is very severe. solvency ratio etc. debt equity ratio. 4000 and Rs 2000 current assets and current liabilities.A ratio is a simple arithmetical expression of the relationship of one item to another.current ratio. The liquidity ratios are calculated for this purpose. Limitations of Ratios 1. To reflect productivity.To meet the obligations of the company.The solvency is of two types. For example. MJRP UNIVERSITY.MKTG. one short term and the second. 4. 2. 7. return on capital employed ratio etc. To measure profitability.Ratio analysis is helpful for comparing efficiency of a various firms of an industry. for example gross profit ratio. The current ratio in both the cases .It is possible to find out productivity of various sources deployed in business with the help of ratio analysis. To facilitate comparison. Confusive conclusions. To measure industrial sickness.To measure operational efficiency of a business.

Lack of well defined formula. and not conclusive end itself.Changes in price level often make comparison of figures for various years difficult.g. Effect of Inherent limitations of accounting. conventions and assumptions. some firms may take profit ratios that will be worked out. total capital employed. 2. 6. For example. ratios can only be as correct as the accounting data on which they are based are. Affected by window dressing. They suffer from all the inherent weaknesses of the accounting system itself.Accounting is based on concepts. profitability conclusions can be arrived at only by using all the ratios. Only a media of interpretation. LLB. BCOM is the same 2:1 but we can not ascertain the size of the firm by studying the current ratios of both the firms. 4. 7. Lack of proper standards. fixed assets do not reflect their current values. will be different as compared to others and will not be comparable. 8. . as they are not adjusted for changes in the price level. howsoever important it may be. Lack of Qualitative analysis of the problem. Circumstances differ from firm to firm and the nature of each industry.For calculating various ratios terminology used is not uniformly defined e.YOGESH KUMAWAT. Therefore.Ratio analysis is only a guide in analysis of financial statements. This is because although sales are recorded in the price level of the year2007.There is almost no single standard ratio against which the actual ratios are measurable. Then conclusions are drawn from ratio analysis are misleading. the ratio of sales of fixed assets in the year 2007 would be much higher than in the year 2002 due to rising prices. Meaningless ratio.g.Ratio analysis is the quantitative measurement of the performance of the business.MKTG. 5. PHD. MJRP UNIVERSITY.FINANCE. Conclusions based on single ratio are not appropriate until they are fully studied about the problem e. It ignores the qualitative aspect of the firm.Manipulation of accounts in such a way so it present the financial statements in such a way to show better position than what it actually is: it is called window dressing. Therefore. capital of shareholders. Ignorance of price level changes. the standards will differ for each industry and the circumstances of each firm will have to be kept in mind. 9. 3. credit may be granted to a customer on the basis of his solvency as disclosed by certain ratios but the grant of credit ultimately depends upon the character and managerial ability of the customer. MBA. PGDBM. FACULTY . For example.A single ratio in itself does not furnish a complete picture.

Liquidity Ratios Turnover Ratios Profitability Ratios Leverage Ratios Valuation Ratios Liquidity Ratios Liquidity refers to the ability of the firm to meet its short time obligations. since they assess the safety of their short term debts on this basis. Liquid Ratio. LLB. 2.MKTG. Low current assets indicates the problems in payment of short term obligations of the company. PHD. BCOM Types of Ratios 1. usually in an accounting year. 3. 5.This ratio indicates the ability of the firm to pay of its debts immediately. Cash Ratio- . Current assets are such assets which can be converted into cash themselves. Ideal ratio = 2:1 2. Only such assets are included in liquid assets which are immediately convertible in cash. Current liabilities are such obligations which are to be paid within a period of one year out of current assets. MBA.YOGESH KUMAWAT.Current ratio is the relationship between current assets and current liabilities. FACULTY . 4. 1. Ideal Ratio = 1:1 3. Every short term creditor or commercial bank have interest in the liquidity of the firm.FINANCE. MJRP UNIVERSITY. Current Ratio. within a period of one year. PGDBM.

FINANCE. It also indicates whether stock is being used properly or not. PGDBM. It also discloses whether the stock is within specified limits or not. Stock or Inventory Turnover Ratio. The low ratio indicates the inefficient use of current assets.This ratio throws light on the speed with which the payment to creditors is made. The higher ratio indicates the effective utilization of investments in assets.This ratio reveals the efficiency of the management in the collection of debtors. MBA. Debtors turnover Ratio. . This ratio reveals the number of times finished stock is turn over into sales. 2. PHD. Current assets turnover Ratio. Total Assets turnover Ratio. 5.This ratio measures the efficiency and profit earning capacity of the firm. A high ratio means efficient business activities and is an indication of low investment in inventory. Creditors turnover Ratio. LLB.YOGESH KUMAWAT.This ratio measures the efficiency and usefulness of current assets. 3.This ratio shows the liquidity of stock. Fixed assets turnover Ratio. BCOM Turnover Ratios 1. MJRP UNIVERSITY. 4.MKTG. The high ratio indicates intensive utilization of fixed assets. A high turnover ratio as compared to other firms engaged in same business shows the availability of less credit. The larger ratio indicate speedy collection from debtors.This ratio shows the number of times the total assets are turnover with reference to sales. FACULTY . 6.

LLB.this ratio tries to find out that portion of share which has been spent as operating cost. BCOM 7. Operating Ratio. Gross profit Ratio. PHD. 8. better is the position of business which is treated good for the firm. 9. Average Payment Period- 3. MBA. FACULTY . Operating profit Ratio- .FINANCE. Working capital turnover Ratio.This ratio indicates the efficiency with which working capital is being used in the business. Average Collection Period- 10. 2. The lower the ratio.This ratio reflects the efficiency of business and the capacity of the firm to earn profit.MKTG. PGDBM. MJRP UNIVERSITY. Profitability Ratio 1. Capital turnover Ratio.The main object of this ratio is to test the usefulness of capital employed in business. 3.YOGESH KUMAWAT.

total profitability of the firm is tested.MKTG. Return on equity shareholder fund.This ratio finds out the actual profit earning capacity of the firm. On this basis.This ratio reveals the return on total assets and the working efficiency of the management. return on shareholder fund. Return on capital employed. This ratio also gives the idea of investment of owner fund in . return on owner equity.It is also called return on investment. 5. PGDBM. FACULTY . 8. Leverage Ratio 1.FINANCE. MBA. With the help of this ratio inter company comparision of different companies is made which helps the investors in decision making.YOGESH KUMAWAT. Thus. 7. it indicates the long term solvency of the firm along with the firm intention of trading on equity.This ratio highlights the general financial strength of the firm.The main object of this ratio is to know the efficiency and profitability of the organization. LLB. Return on total assets. 6. the profit earning capacity of the company is considered high. BCOM 4. PHD. MJRP UNIVERSITY. return on shareholder equity. 4.It is also known as return on networth. Net profit Ratio. Return on proprietor fund or equity. Debt equity ratio. If it is high.

BCOM sundry assets. If it is high. LLB. Fixed assets ratio- 5. PGDBM.This ratio throws light on the profit earning capacity of equity share capital by comparing two years profits. Solvency ratio- 4. Price Earning ratio(P/E ratio). So higher or lower ratio both are not good. MJRP UNIVERSITY. 2. would be more beneficial for the prospective investors.MKTG.YOGESH KUMAWAT. Proprietory ratio. FACULTY .This ratio is also known as owners equity or networth to total assets ratio. . MBA.FINANCE. PHD. Debt service ratio- 5. 3. the position of creditors will be more unsecured since the dues of creditors would be higher as compared to owners. Earning per share(EPS).This ratio discloses that the market price of the share is how many times of earning of that share? Lesser this ratio. Valuation Ratio 1. 2.

the company may know that how much part of its profits are distributed as dividend and how much is retained in business.This ratio is useful for prospective investor. Dividend yield ratio. Market value to Book value ratio- .MKTG. 6. FACULTY . LLB. Dividend payout ratio.It is generally accepted principle that a portion of profit is kept in the business and the balance is distributed as dividend among the shareholders. 5. He would like to know that what will be his effective earnings. EV-EBITDA Ratio- 7. MBA.YOGESH KUMAWAT. BCOM 3.By this. if he purchases shares at current market price. PHD. 4. MJRP UNIVERSITY. Dividend per share(DPS).FINANCE. PGDBM.

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