Mgmt accounting
-
Upload
mba-corner-by-babasab-patil-karrisatte -
Category
Business
-
view
171 -
download
0
Transcript of Mgmt accounting
![Page 1: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/1.jpg)
![Page 2: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/2.jpg)
Semester End Examination – 60 Marks
Attendance/Participation/Work Sheets – 10 Marks
Class Test – 15 Marks
Presentations – 15 Marks
![Page 3: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/3.jpg)
Framework of Financial AccountingFinancial StatementsFixed Assets and Depreciation AccountingInventory ValuationRatio AnalysisInflation AccountingBasics of Auditing
![Page 4: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/4.jpg)
Industry Analysis
1.Introduction of the Sector2.Major companies in the Sector3.Market Share of various companies4.Past trend of the sector – 5 years5.News related to the Sector6.Future of the Sector
Presentation should not exceed 15 mins.
![Page 5: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/5.jpg)
Financial Accounting
Cost Accounting
Management Accounting
Social Responsibility Accounting
![Page 6: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/6.jpg)
Recording, classifying and summarizing of past events & transactions
Historical in nature
Facts & figures
Preparation of Financial statements
![Page 7: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/7.jpg)
It shows classification & analysis of costs on the basis of functions, processes & products.
It deals with cost computation, costs saving, cost reduction.
![Page 8: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/8.jpg)
Uses data generated in Financial & Cost Accounting.
Data used for managerial decision making.
![Page 9: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/9.jpg)
It involves :Accounting for social costs
Accounting for social benefits created & reporting thereof
![Page 10: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/10.jpg)
According to the American Institute of Certified Public Accountants “The art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character & interpreting the results thereof”.
![Page 11: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/11.jpg)
Identification of Transactions & Events
Recording of Transactions in a Journal
Posting of Journal Entries in Ledger
Summarize by preparing Trial Balance, Profit/Loss A/C, Balance Sheet
Analyze and Communicate the results to Users
![Page 12: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/12.jpg)
Preparation of Financial statementsfrom Trial Balance1. Profit & Loss Account2. Balance Sheet
![Page 13: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/13.jpg)
OwnersManagersInvestorsCreditors & Financial InstitutionsEmployeesGovernmentCustomersPublic
![Page 14: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/14.jpg)
Ministry of Corporate Affairs ICAISEBI CBDT RBI International Accounting Standards Board
![Page 15: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/15.jpg)
![Page 16: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/16.jpg)
![Page 17: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/17.jpg)
Accounting policies refer to the
specific accounting principles and the methods of applying those principles adopted by the enterprise in the preparation and presentation of financial statements.
![Page 18: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/18.jpg)
Prudence
Substance over form
Materiality
![Page 19: Mgmt accounting](https://reader033.fdocuments.us/reader033/viewer/2022042716/55ab7d691a28abce048b464d/html5/thumbnails/19.jpg)
Going Concern
Consistency
Accrual