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Mastering Cost Control and Financial Analysis for Strategic Business Decisions
Updated on Sep, 2026
Finance and Accounting, Other Finance and Accounting, Accounting
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UNIT-I: INTRODUCTION TO MANAGEMENT ACCOUNTING &MARGINAL COSTING:
Meaning and Importance of Management Accounting – Marginal Cost Equation – Difference between Marginal Costing and Absorption Costing – Application of Marginal Costing – CVP Analysis – Break-Even Analysis: Meaning – Assumptions – Importance - Limitations. Marginal Costing for Decision Making-Make or Buy – Add or Drop Products – Sell or Process Further – Operate or Shut-down – Special Order Pricing – Replace or Retain.
UNIT-II: BUDGETARY CONTROL AND STANDARD COSTING:
Budget: Meaning – Objectives – Advantages and Limitations – Essentials of Budgets - Budgetary Control - Classification of Budgets - Preparation of Fixed and Flexible Budgets. Standard Costing: Meaning – Importance – Standard Costing and Historical Costing - Steps involved in Standard Costing. Variance Analysis: Material variance - Labour variance - Overhead variance.
UNIT-III: TECHNIQUES OF FINANICAL STATEMENT ANALYSIS:
Meaning – Objectives - Techniques: Comparative Statement, Common Size Statement, Trend Analysis. Ratios- Meaning, Objectives and Classification—Computation of Activity, Liquidity, Solvency and Profitability Ratios.
UNIT-IV: FUNDS FLOW ANALYSIS:
Concept of Funds – Meaning and Importance – Limitations – Statement of Changes in Working Capital – Statement of Sources and Application of Funds. UNIT-V: CASH FLOW ANALYSIS (AS-3): Meaning – Importance – Differences between Funds Flow and Cash Flow Statements – Procedure for preparation of Cash Flow Statement.
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