Financial Accounting:
Objectives and importance of accounting, branches of accounting, accounting as an information system, computerized system and applications in accounting.
Recording System: Double entry mechanism, accounts and their classification, accounting equation, accounting cycle journal, ledger, trial balance. Preparation of financial statements considering adjusting and closing entries. Accounting concepts and conventions.
Financial statements analysis and interpretation: ration analysis- tests for profitability, liquidity, solvency and overall measure.
Costs and Management Accounting:
Cost concept and classification. Segregation and mixed cost. Overhead cost: meaning and classification, allocation of overhead cost, overhead recovery method.
Job order costing: preparation of job cost sheet and quotation price.
Inventory valuation: absorption costing and variable costing technique.
Cost volume profit analysis: meaning, breakeven analysis, contribution margin approach, sensitivity analysis.
Short-term investment decisions: Relevant and differential cost analysis; Linear programming.
Long-term investment decisions: Capital budgeting, various techniques of evaluation of capital investment, investment appraisal under uncertainty, risk management, capital rationing. Concept of working capital, need for working capital, management of cash, stock debtors.