MBA management

Financial Management

Financial management is an academic discipline which is concerned with decision-making. This decision is concerned with the size and composition of assets and the level and structure of financing. In order to make right decision, it is necessary to have a clear understanding of the objectives. Such an objective provides a framework for right kind of financial decision making. The objectives are concerned with designing a method of operating the Internal Investment and financing of a firm... financial management accounting

Accounting and Book Keeping

American Accounting Association defines accounting as "the process of identifying, measuring and communicating economic information to permit informed judgements and decisions by users of the information". Accounting refers to the actual process of preparing and presenting the accounts. In other words, it is the art of putting the academic knowledge of accountancy into practice.
Book-Keeping is that branch of knowledge which tells us how to keep a record of business transactions. R.N.Carter says, "book-keeping is the science and art of correctly recording in the books of account all those business transactions that result in transfer of money or money's worth."... financial management accounting


Depreciation is the process of spreading the cost of fixed asset over the different accounting periods which derive the benefit from their use. Depreciation is a permanent decline in the value of an aseet. The gradual decrease, both in the value and usefulness, of an asset due to its nature and usage is termed as depreciation.
According to Spicer and Pegler "Depreciation is the measure of the exhaustion of the effective life of an asset from any cause during a given period".
According to the ICAI, "Depreciation is a measure of the wearing out, consumption or other loss of value of a depreciable asset arising from use, effluxion of time or obsolescence through technology and market changes"... financial management accounting

Analysis and Interpretation of Financial Statements

Financial statements are the basic and formal annual reports through which the corporate management communicates Financial information to its owner and various other external parties which include- investors, tax authorites, government, employees etc. According to Bernstein financial statement analysis can be defined as "A judgemental process which aims to estimate current and past financial position and the results of the operation of an enterprises, with primary objectives of determining the best possible estimates and predictions about the future conditions... financial management accounting

Break - Even Analysis

The break-even point for a product is the point where total revenue received equals the total costs associated with the sale of the product (TR=TC). A break-even point is typically calculated in order for business to determine if it would be profitable to sell a proposed product, as opposed to attempting to modify an existing product instead so it can be made lucrative. Break-Even Analysis can also be used to analyze the potential profitability of an expenditure ina sales-based business... financial management accounting

Budgetary Control

Budgetary Control is a technique of managerial control in which all operations are planned in advance in the form of budgets and actual results are compared with the budgetary standards. Budgeting focuses on specific and time bound targets and thus help in the attainment of organizational objectives. Budgeting is a source of motivation to the employees who know the standard against which their performance will be evaluated and thus, enables them to perform better. Budgeting helps in optimum utilisation of resources by allocating them according to the requirements of different departments. Budgeting is also used for achieving coordination among different departments of an organisation and highlights the interdependence between them... financial management accounting

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Review Questions
  • 1. State the objectives of Management Accounting.
  • 2. Differentiate Management Accouting from Financial Accouting.
  • 3. Highlight the advantages and limitations of Management accoutning.
  • 4. Define Cost Accountancy.
  • 5. Give four examples of indirect expenses.
  • 6. Explain in detail the advantages and disadvantages of Cost Accounting.
  • 7. What is depreciation? What are the causes of depreciation?
  • 8. What are Financial Statements?
  • 9. Bring out the significance of Turnover ratios.
  • 10. Mention any four limitations of funds flow statement.
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