Fundamentals of Accounts

Introduction to Management Accounting: Nature and Purpose of Management Accounting, Generally Accepted Accounting Principles. Concept of Green Accounting.

Elementary Financial Accounting: Journal Entries, Ledger, Trial Balance, Preparation of Final Accounts of sole proprietor (with basic adjustments only)

Meaning and Importance of Financial Analysis, Types of financial analysis – Horizontal, Vertical, Internal and External. Tools of financial analysis – Comparative statements, common size statements and trend analysis.

Meaning, Significance and Limitations of Ratio Analysis, Calculation & Interpretation of Liquidity Ratios, Solvency Ratios, Turnover Ratios, Profitability Ratios and Investment Ratios.

Meaning & Definition of Cost Accounting, Cost Unit, Types of Cost Unit, Cost Centre, Elements of Cost – Material, Labour and Expenses. Preparation of Cost Sheet.

Similarities and difference between Cost Accounting, Financial Accounting and Management Accounting.

Meaning, Concept of Marginal Costing, Utility and Limitations of CVP.

Break- Even Analysis, Profit Volume Ratio and Margin of Safety.