PAPER 10: COST & MANAGEMENT ACCOUNTING AND FINANCIAL MANAGEMENT
Section A: Cost & Management Accounting  50%
1. Cost and Management Accounting – Introduction
2. Decision Making Tools
3. Budgeting and Budgetary Control
4. Standard Costing and Variance Analysis
5. Learning Curve
Section B: Financial Management 50%
6. Introduction to Financial Management
7. Tools for Financial Analysis and Planning
8. Working Capital Management
9. Cost of Capital, Capital Structure Theories, Dividend Decisions and Leverage Analysis
10. Capital Budgeting – Investment Decisions
Section A: Cost & Management Accounting
1. Cost and Management Accounting: Introduction to Management Accounting – Relationship between Management Accounting and Cost Accounting
2. Decision Making Tools:
a) Marginal Costing: Break Even Analysis and cost-volume-profit analysis; break-even charts and profit charts; differential cost analysis; stock valuation under marginal costing vs. absorption costing; applications of marginal costing in decision making.
b) Transfer Pricing – Determination of Inter-departmental or Inter-company Transfer Price.
3. Budgeting and Budgetary Control:
a) Budgetary Control and Preparation of Functional and Master Budgeting
b) Fixed, Variable, Semi-Variable Budgets
c) Zero Based Budgeting (ZBB)
4. Standard Costing & Variance Analysis:
Computation of variances for each of the elements of costs, Sales Variances, Investigation of variances -Valuation of Stock under Standard Costing – Uniform Costing and Inter-firm comparison.
5. Learning Curve: Concept of Learning curve and its application
Section B: Financial Management:
7. Introduction to Financial Management: Meaning – Objectives – Scope of Financial Management sources of Finance – Introduction to Financial Markets.
8. Tools for Financial Analysis and Planning: Financial Ratio Analysis – Funds Flow Analysis – Cash Flow Analysis.
9. Working capital Management: Working Capital Management – Financing of Working Capital
10. Cost of Capital, Capital Structure Theories, Dividend Decisions and Leverage Analysis: Meaning of Cost of Capital – Computation of Cost of Capital – Capital Structure Theories and Dividend Decisions Theories (Walters – MM – Gordon Models) – Leverage Analysis.
11. Capital Budgeting – Investment Decisions: Concept of Capital Budgeting – Non-Discounted and Discounted Cash Flow Method – Ranking of Projects.

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