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1.1 Introduction
1.2 Defining Management Accounting
1.2.1 Key Functions of Management Accounting
1.2.2 Tools and Techniques of Management Accounting
1.2.3 Importance of Management Accounting
1.2.4 Use of Management Accounting Information
1.3 Role of Management Accountant
1.4 Limitations of Management Accounting
1.5 Difference between Cost Accounting and Management
Accounting
1.6 Difference between Financial Accounting and Management
Accounting
1.7 Value Addition by Management Accounting
1.8 Summary
1.9 Key Terms
1.10 Multiple Choice Questions
1.11 Questions
1.12 Answers to Multiple Choice Questions
1.13 Case study: Management Accounting helped Implats to Lower
Cost by 20%
1.14 References and Suggested Readings
2.1 Introduction
2.2 Cost Management
2.2.1 Concept of Cost
2.2.2 Factors Affecting Cost Management
2.3 Meaning of Cost Accounting
2.3.1 Principles of Cost Accounting
2.3.2 Objectives of Cost Accounting
2.4 Differences between Financial Accounting and Cost Accounting
2.5 Cost unit, Cost Centre and Profit Centre
2.6 Summary
2.7 Key Terms
2.8 Multiple Choice Questions
2.9 Questions
2.10 Answers to Multiple Choice Questions
2.11 Case Study: Strategic Cost Management enables Cummins
Achieve 30% Reduction in Material Cost
2.12 References and Suggested Readings
3.1 Introduction
3.2 Meaning of Overhead Cost
3.3 Classification of Overheads
3.4 Stages of Distribution of Overheads
3.4.1 Estimation and Collection of Overheads
3.4.2 Allocation of Overheads
3.4.3 Apportionment of Overheads
3.4.4 Re-Apportionment
3.4.5 Absorption of Overheads
3.5 Controlling Overhead Expenses
3.6 Summary
3.7 Key Terms
3.8 Multiple Choice Questions
3.9 Questions
3.10 Answers to Multiple Choice Questions
3.11 Case study: Overhead Control at ABC Ltd.
3.12 References and Suggested Readings
4.1 Introduction
4.2 The Concept of Marginal Costing
4.2.1 Features of Marginal Costing
4.3 Classification of Cost under Marginal Costing Technique
4.4 Benefits and Limitations of Marginal Costing
4.5 Applications of Marginal Costing
4.6 The Concept of Cost-Volume-Profit Analysis
4.6.1 Features and Objectives of Cost-Volume-Profit Analysis
4.6.2 Advantages and Disadvantages of Cost-Volume-Profit
Analysis
4.7 Short-Run Management Decision-Making Tools
4.8 Summary
4.9 Key Terms
4.10 Multiple Choice Questions
4.11 Questions
4.12 Answers to Multiple Questions
4.13 Case Study: P&C Company Ltd.
4.14 References and Suggested Readings
5.1 Introduction
5.2 The Concept of Activity-Based Costing
5.2.1 Objectives of Activity-Based Costing
5.2.2 Activities and Cost Drivers
5.2.3 Factors Contributing to the Development of
Activity-Based Costing
5.2.4 Terms Used in Activity-Based Costing
5.3 Process of Activity-Based Costing
5.4 Advantages and Disadvantages of Activity-Based Costing
5.5 Activity-Based Management
5.6 ABC and Customer Profitability Analysis
5.7 Summary
5.8 Key Terms
5.9 Multiple Choice Questions
5.10 Questions
5.11 Answers of Multiple Choice Questions
5.12 Case Study: ABC Costing at Zenith
5.13 References and Suggested Readings
6.1 Introduction
6.2 Meaning of Job Order Costing
6.2.1 Methodology of Job Order Costing
6.2.2 Advantages and Limitations of Job Costing
6.3 Spoilage, Rework and Scrap in Job Costing
6.4 Process Costing
6.5 Difference Between Process and Job Costing
6.6 Meaning and Features of Contract Costing
6.7 Hybrid Product Costing
6.8 Joint Product and By-Product Costing
6.9 Difference between Joint Product and By-Product Costing
6.10 Allocation of Support Activity Costs
6.11 Summary
6.12 Key Terms
6.13 Multiple Choice Questions
6.14 Questions
6.15 Answers to Multiple Choice Questions
6.16 Case Study: The Boeing Dreamliner 787
6.17 References and Suggested Readings
7.1 Introduction
7.2 Define Relevant Cost
7.3 Identifying Relevant Costs and Benefits
7.4 Limitation of Relevant Cost
7.5 Analysis of Decision Making
7.6 Issues in Decision Making
7.7 Summary
7.8 Key Terms
7.9 Multiple Choice Questions
7.10 Questions
7.11 Answers to Multiple Choice Questions
7.12 Case Study: Special Decision Making
7.13 References and Suggested Readings
Dr. Pankaj Baag - Fellow IIM Calcutta, MFM, MCom, CAIIB, PGD banking, PGD Foreign Trade, PGD MM, PGD PM IR, Certificates in LC (Pace University, US), Certificate in OM FA (Brunel University, UK), Certificate in Econometric Analysis (ICSSR) is an Assistant Professor in FAC area at IIM Kozhikode. He teaches Management Accounting, Commercial Banking, Financial Management, Financial Institutions, Financial Services, Project Finance, and Advance Corporate Finance regularly at IIMK, at IIMK Kochi campus, and at IIM Amritsar. He is also an NCERT scholar and has over 15 years of International banking experience at USA and India. He has presented and published papers at International conferences and Journals and have won “Best paper awards”. He is also the author of two books and have published chapters in different edited books.
Dr. Gauri Shankar - Professor at International Management Institute , has a brilliant academic record. He is a Gold-Medallist in M. Com. from University of Delhi and earned his doctoral degree from Delhi school of Economics. He has teaching experience of 47 years. He has taught graduate & post-graduate students at Shri Ram College of Commerce, University of Delhi; Department of Commerce, Delhi School of Economics; Sherubtse College, University of Bhutan & Fore School of Management, New Delhi. He has also guided research scholars for doctoral studies. He is associated in various capacities with several business schools, universities, professional institutes, professional & industrial associations, public service commissions and publishing houses etc.
Kavitha.P - MCom, CAIIB with over 5 year experience in banking sector and a Junior Research Fellowship awardee, is currently a Research Scholar at IIM Kozhikode. She has presented and published papers in national and international conferences and has received “Best paper award” from journals and conferences. Her interests include Management Accounting, Banking, and Corporate Financing Choices
