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Table of contents Unit I: Click Here! 1.1: Management Accounting: Meaning; Features; Advantages; Limitations; Scope and Functions of Management Accounting. 1.2: Comparison: Between Management Accounting and Financial Accounting, Between Management Accounting and Cost Accounting. Unit II: Click Here! 2.1: Break-Even-Analysis: Concept, Uses and Limitations of Break-Even-Analysis, Margin of Safety, Contribution, Use of P/V ratio for decision making, Cost-Profit-Volume Relationship, Fixed Cost Variation. 2.2: Problems on Break-Even Analysis. Unit III: Click Here! 3.1: Ratio Analysis: Meaning of Ratio Analysis, Advantages and Limitations of Ratio Analysis 3.2: Problems of Profit and Loss Account Ratio. 3.3: Simple Problems on Balance-Sheet Ratio: Current Ratio; Quick Ratio and Proprietary Ratio Unit IV: Click Here! 4.1: Budget : Meaning and Definition of Budget; Characteristics of Budget; Types of Budget. 4.2: Problems on a Cash budget Un...

1. Management Accounting: Management Accounting: Meaning, Nature, Characteristics, Objectives, Advantages and Limitations   Meaning of Management Accounting: The term Management Accounting consists of two words “Management” and “Accounting”. It is the study of managerial aspects of accounting. It is a tool in the hands of management to exercise decision making. The emphasis of management accounting is to redesign accounting in a manner which is helpful to the management in framing the policies and control of their execution. Management accounting is of recent origin. The term was first used in 1950 by a team of accountants visiting the U.S.A. under the auspices of Anglo-American Council on productivity. The terminology of cost accounting had no reference to the word ‘management accountancy’ before the visit by this study group. Intensive competitions, large scale production, dynamic developments in technology, and complexities of modern business have led to the deve...