HOW TO PREPARE FOR MANAGEMENT ACCOUNTING FOR BBA THIRD SEM/ SECOND UNIT ...

SALE BUDGET &PRINCIPAL FACTORS WHICH ARE TAKEN INTO ACCOUNT FOR PREPARIN...

MEANING, FEATURES,OBJECTIVES,FUNCTIONS AND LIMITATION OF MANAGEMENT ACCO...

RESPONSIBILITY ACCOUNTING/COMPLETE TOPIC

MARGINAL COSTING

·         MARGINAL COSTING
MEANING
FEATURES
ASSUMPTIONS
ADVANTAGES
LIMITATIONS

   BY SHASHI AGGARWAL

   LIMITATION OF ABSORPTION OF COSTING

1.       ABSORPTION COSTING IS ALSO KNOWN AS FULL COSTING

2.       PRACTICE OF CHARGING ALL COSTS BOTH VARIABLES AND FIXED COSTS

3.       COST PER UNIT REMAINS THE SAME ONLY WHEN THE LEVEL OF OUTPUT REMAINS THE SAME

4.       DEPENDENT ON LEVEL OF OUTPUT SO DIFFERENT UNIT COSTS ARE OBTAINED FOR DIFFERENT LEVEL OF OUTPUT

5.       IT IS NOT VERY USEFUL FOR TAKING MANAGERIAL DECISIONS.

BUDGETARY CONTROL

MEANING , TOOLS AND TECHNIQUES OF MANAGEMENT ACCOUNTING

TECHNIQUES OF MATERIAL CONTROL/INVENTORY MANAGEMENT

·         TECHNIQUES OF MATERIAL CONTROL/INVENTORY MANAGEMENT

·         COST ACCOUNTING

·         FINANCIAL MANAGEMENT

·         WORKING CAPITAL MGMT

·         OPERATION MGMT

·         MGMT ACCOUNTING

• MATERIAL CONTROL
• MATERIAL CONTROL MEANS A SYSTEM WHICH ENSURES THAT RIGHT QUALITY OF MATERIAL IS AVAILABLE IN THE RIGHT QUANTITY AT THE RIGHT TIME AND RIGHT PLACE WITH THE RIGHT AMOUNT OF INVESTMENT
• IN SIMPLE WORDS WE COULD SAY THAT MATERIAL CONTROL IS A SYSTEMATIC CONTROL OVER THE PURCHASING,STORING AND USING OF MATERIALS SO AS TO HAVE THE MINIMUM POSSIBLE COST OF MATERIALS.

COST ACCOUNTING VS MANAGEMENT ACCOUNTING