III SEMESTERMTL14- COST AND MANAGEMENT ACCOUNTINGUNIT-1 Cost and Management Accounting- Meaning and Definition- Nature and Scope Objectives of Management Accounting importance and Limitations Management Accounting vs. Cost Accounting, Position of Management Accounting in the Organization. Cost Accounting Concept of cost centers, profit centers and investment center. Sources for cost information, Cost Units- classification of costs- cost analysis for management decision making.UNIT- II Analysis and Interpretation of Financial Statements Concepts of Financial Statement and their Nature, objectives, tools- Methods- Limitations of Financial Statements- Types of Analysis- Comparative Statements, Common Size Statement and Trend analysis . Ratio Analysis Interpretation, benefits and limitations Classification of ratios Liquidity, Profitability, Turnover, capital structure and leverage.UNIT-III Marginal Costing and Break-Even analysis- Concept of Marginal Cost Contribution- Applications of Marginal Costing Cost Volume Profit relationship Budgets and budgetary Control Meaning, objectives, merits and demerits-Establishing a System of Budgetary Control -Preparation of Sales Budget, selling and distribution cost budget, - Production budget , Cash and Flexible Budgets Master Budget.UNIT - IV Capital Budget Nature of Capital Expenditure concept of Capital Budgeting Capital Budgeting Procedure Methods of Ranking Investment Proposals Problems involving Pay- Back Method, Average Rate of Return Method Net Present Value Method and Discounted Cash flow Method.UNIT-VStandard Costing and variance Analysis Meaning of Standard Cost- Relevance of Standard Cost for Variance Analysis Significance of Variance Analysis Computation of Standard Costs for Materials, Labour and Overhead Variances- Comparison between Budgeting and Standard Costing Responsibility Accounting Meaning and Objects types of Responsibility Centre.REFERENCES:1. Khan & Jain Cost Accounting, Tata McGraw Hill Fourth Edition, 20082. Atkinson, Management Accounting Pearson Publication, 3/e 20093. Dr. S.N.Maheshwari, Principles of Management Accounting, Sultan Chand & Sons, Reprinting 20094. Sudhindra Bhat, Management Accounting, Excel Books, 20095. Bhattacharya, Cost Accounting : Principles and Practice PHI, 20086. Jawaharlal, Cost Accounting Tata McGraw, 3/e 20087. P.C. Tulsian, Practical Costing Vikas I/e 20088. M.N.Arora, Cost Accounting, Vikas, 7/e 2008