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Nirmal Pathak

decorate my management and cost accounting pptx

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Nirmal Pathak

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  1. Nirmal PathakCourse B.B.AYear 2nd Subject management and cost Accounting

  2. Under Course topic Mid-term Examination • Management Accounting: Introduction , Meaning, Nature and scope of management accounting , function, reletionship of management accounting, Financial Accounting and Cost Accounting the Management Accountant and its role, The Positioning of Management Accounting Within the Organization,

  3. Management Accounting

  4. Defination • Management accounting is concerned with accounting information that is usefull to management • Management accounting is the term to descrive the accounting method , system and techniques which coupled with special knowladge and ability assists management is its task of maximising profit and minimising losses

  5. Efficient use of accounting information is management accounting

  6. Charecteristics of management accounting • Managerial Function • It provides accounting details • It provides Feedback • Knowledge of strength and weekness • Helpful in decision manking • Reporting as various level • make or buy decision • Increase in efficiency and effectiveness

  7. Objects of management Accounting • To help in planning • To help in organizing • To assists in motivation • To help in communication • To help in decision making • Helpful in reporting • To ensure resposibility

  8. Functions of management accounting • Main and primary Function • (a) Providing accounting information • (b) Assistance in managerial activity • Secondary Function • Protection of assets • Help in financial planning • Helpful in tax determination • Strategic Function • FIxation of Accountability

  9. Assets Owned property that can use to payout of your debt • Nature of management accounting • Decision - oriented: it is designed to support deision making • Forword- cooking : Unlike financial accounting which historical . management accounting focuses on future projection • Internal use : primerly for internal stakeholders (manager and executive). • Integrative : combines data from financial acccounting , cost accounting , statistics and economies. • flexible : not governed by strict GAAP or IFRS method can very based on need

  10. Very Important Scope of management accounting • Cost accounting : Analyzing and controling costs. • Budgeting and forecasting : preparing budgets and projecting future perforemence • Financial analysis: evaluating financial statement for decision support. • Performance measurement: assesing operational and employee. • strategic planning: supporting long-term business planning. • Decision making tools; break- even analysis marginal costing etc . • Risk management: identifing and managing business risk.

  11. Difference between management accounting and financial accounting

  12. Difference between management accounting and financial accounting

  13. Difference between management accounting and cost accounting

  14. Difference between management accounting and cost accounting

  15. Role of management accountant • Planning • Decission support • Cost analysis • Perforemence analysis • Budgeting and financial Reporting

  16. Positioning of management acconting with in the organization

  17. Strategic Integration • Management accountants don’t just “report number’s”- they are often • Business partners helping shape company strategy • Advisors:- influencing oprrational decision • Analysts identifying risks inefficiencies or opportunities • Contollers ensuring the company stays within financial targets

  18. Under Course topic Mid-term Examination • Cost Accounting: Nature and Scope of Cost Accounting, Cost concepts and classifications, Methods and Techniques, Installation of a Costing System; Accounting for Material, Labour and Overheads, Cost Sheet with numerical.

  19. Management and cost accounting

  20. Deffination • cost is the amount of resourse given up in exchange of some goods or services Costing Costing is defind as the techniqe and process of ascertainig costs

  21. Accounting to CIMA an organization costins system is the foundation of the internal financial infomation system for manager • Raw maaterial • labor • Finish goods • Material Control

  22. Techniques of material control • Level setting • EOQ - Economic Order Quantity • JIT • ABC Analysis • BED Analysis Enventry turn over ratio it is a size of purchase order which minimize total enventry cost EOQ is a size of order where carring cost and ordering cost are equal

  23. Formulas of EQR • EQR = • EQR = Where A = Annual Requirement O = Ordering Cost C = Carring Cost

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