Faculty of Commerce. Karim City College, Jamshedpur. Syllabus Distribution

Transcription

1 Faculty of Commerce Karim City College, Jamshedpur Syllabus Distribution Teacher Wise Allocation of Topics/Portions for B.Com Honours Part 1 Account Group Subject: Financial Accounting ( Honours Paper 1) Section: A B.Com Part 1 Class is divided into three sections. The above said subject portion of Syllabus was distributed between following two teachers in Section A. 1. Dr.Md.Moazzam Nazri 2. Dr.G.Vijayalakshmi Dr.Md.Moazzam Nazri has touched and covered the following portion Unit 1.Basic I. Meaning, Nature, Significance and Types of Accounting 2. Basic Concepts, Principles & Convention of Accounting Unit 2.Financial Analysis 1. Financial Statements: Meaning, Types and Limitations 2. Analysis and interpretation of Financial Statements Unit 3. Accounting of Non trading organization 1. Receipts and Payment Accounts-Income and Expenditure Account. Difference between Receipts and Payment Accounts and Income and Expenditure Account. 2. Preparation of Income and Expenditure Account from Receipts and Payments Accounts with additional information (Adjustments) 3. Preparation of Income and Expenditure Account and Balance Sheet from Receipts and Payments Accounts

2 4. Preparation of Receipt and Payment Account and Balance Sheet from Income and Expenditure Account. Unit.4: Single Entry System 1.Meaning and definitions of Accounts from Incomplete Records, Main features of Accounts from Incomplete Records, Advantages and disadvantages of Accounts from incomplete records,differnce between Double Entry System and Accounts from 2. Incomplete records, Preparation of Accounts from incomplete records Net worth Method and Conversion of Single entry System into double entry system. Unit 6: Hire Purchase and Installment Systems of Accounts 1. Meaning and definition of Hire Purchase System 2. Contents of Hire Purchase Agreement, Accounting Records for Goods of Substantial Sale Values 3. Calculation of Cash price and Interest 4. Default in Payment of Installment 5. Definition of Installment Payment System, Characteristics of the Installment Payment System, Difference between Hire Purchase System and Installment Payment System, 6.Accounting Records under Installment System. Unit 10: Dissolution of Partnership 1. Mode of Dissolution of Firm and Mode of Settlement of Accounts 2. Accounting record at the time of dissolution 3. Piecemeal Distribution- Proportionate Capital Method, Maximum Loss Method, 4. Insolvency of Partner-Garner vs.murray,1903,application of Garner vs. Murray Rule in India, Record according to Garner Vs.Murray and Indian Practices 5. Burden of Realisation of Assets on one Partner and Garner vs. Murray 6. Insolvency of two partners 7. Dissolution of firm on Insolvency of All the Partners. 8. Conversion of Partnership into a Joint Stock Company and Sale of Partnership 9. Business Process of conversion of a Partnership firm into a Joint Stock company 10. Accounting Records on Conversion of a Firm into a Company 10. Accounting records on conversion of a firm into a company, Sale of Partnership Business Dr. G Vijayalakshmi has covered and touched the following portion in section A. Unit. 5 Royalty Accounts

3 1. Meaning and definitions of Royalty, Types of Royalties 2. Accounting records for Royalties, Shortworking Shortworking Reserve,Shortworking recouped in the books of Land loard and Lessee Unit.7 Branch Accounts (excluding foreign branch). 1.Concepts of dependent branches; accounting concepts; debtors system, stock and debtor system, branch final account system. 2.Independent branches: concept-accounting treatment Unit.8 Departmental Accounts. 1. Introduction, difference between Branch and Department, advantages of Departmental Accounts. 2. Allocation of expenses, inter-departmental transactions,departmetal Profit& Loss Account Unit.9 Insolvency Accounts. 1. Meaning of Insolvency, Insolvency Law-The Presidency InsolvencyAct, 1909 and The Provincial Insolvency Act, Details of Statement of Affairs and deficiency Account 3. Insolvency of Sole Traders. Section B Section C Subject: Auditing (Honours Paper11) This Paper is touched by three teachers in three difference sections i.e. Section A, B and C Section A Name of Teacher:. has touched and covered the following portion

4 Section B Name of Teacher:. has touched and covered the following portion Section C Name of Teacher:.has touched and covered the following portion General and Subsidiary There are two papers in General and Subsidiary in B.Com Part 1 i.e. Business Organisation and Principle of Economics Subject: Business Organisation Name of Teacher: Dr.Md.Moazzam Nazri Dr.Md,Moazzam Nazri has touched and covered the following portion of the above said subject in section B Unit 1. Business Organisation 1. Meaning,Characteristics, Activities, Objectives and importance in India 2. Organisation Management and Administration Meaning,Concept,Definition,Nature,Function,Priciples,Importance and difference between them. 3. Types of organization-line, Functional and Staff Unit 2. Sole Trading or Sole Proprietorship

5 1. Meaning and definitions of Sole Trading 2. Characteristics of Sole Trading. Advantages or Importance or Utility of Sole Trading. Demerits/disadvantages of sole Trading. Unit 3.Partnership 1. Meaning and definitions of Partnership. Nature and Characteristics or essential of Partnership. 2. Kinds of Partnership 3. Advantages and disadvantages of partnership 4. Partnership Deed. Rules applicable in the absence of Partnership deed. 5. Rights,duties and liabilities of Partners 6. Registration of Partnership firm 7. Dissolution of Partnership Firm and Modes of dissolution of a firm. Unit 4. Joint Stock Company 1. Meaning, Characteristics, Kinds of Joint Stock Company, Evaluation Advantages and disadvantages and distinction from other organizations. 2. Promotion and Formation of Joint Stock Company 3. Share Capital of a Company 4. Winding up of a Company Unit 5. Factors Affecting the Size of a Business Unit-Including Optimum Size of Business Unit. Unit 6.Large Scale Retailing 1. Departmental Store 2. Multiple Shpos 3. Mail Order Business. 4. Super Bazar Unit 7.Business Combination 1. Meaning, Characteristics, Causes and effects of business Combination. 2. Advantages and disadvantages of Business Combination 3. Types, Forms and Business Combination in Indian Industries. Unit 8. Scientific Management 1. Meaning,Characteristics and Objectives of Scientific Management 2. Principles and Merits Demerits. 3. Functions of Scientific Management

6 Unit 9. Rationalisation 1. Meaning and definitions of Rationalisation,Characteristics, Objectives, Aspects 2. Merits-demerits, Suggestions and Rationalisation in India Unit 10.Methods of Remunerating Labour 1. Meaning and Definitions of Wages, Characteristics of wages 2. Essential of an ideal Wage Payment System or factors determining fair wages 3.Methods of Remunerating Labour---Time Rate, Piece Rate, Incentive Plan i.e. Taylor,Emerson,Halsey,Rowan and Gantt etc Unit 11. Stock Exchange 1. Meaning and definitions of Stock exchange, characteristics, objectives,importance of Stock Exchange. Advantages and disadvantages of stock exchange. 2. Functions of Stock Exchange, Factors causing Fluctuations in the Prices of Securities, Spot and further transaction 3. Regulation of Stock Exchange in India Unit 12.Produce Stock Exchange 1. Meaning and definitions of Produce exchange, characteristics, objectives, importance of Produce exchange. Advantages and disadvantages of stock exchange. Difference between Stock exchange and Produce exchange. 2. Functions of Produce Exchange, Factors affecting in the Prices of Commodities 3. Regulation and Control of Produce Exchange in India. Section A Name of Teacher:..has touched and covered the following portion of the above said subject in section A

7 Section C Name of Teacher:..has touched and covered the following portion of the above said subject in section C Subject : Principle of Economics Section : A Name of Teacher: Dr. G. Vijayalakshmi. Dr. G. Vijayalakshmi has touched and covered the following portion of the above said subject in section A. Unit 1 : Nature and Scope of Economics 1. Definition and need of the economics 2. Three branches of economics 3. Nature and scope of economics 4. Study of economics as science, positive and normative science 5. End and means economics as a social science Unit 2 : Marshal and Robinson definition Economics 1. Early Definition science of wealth 2. Marshallian definition - science of material welfare, criticism of Marshallian view 3. Robin s definition - science of scarcity and science of choice 4. Superiority of Robbin s definition, criticism of Robbin s definition 5. Modern definition, conclusion regarding definition 6. Major economic problems. Unit 3 : Laws of micro and macro Economics

8 1. Introduction of micro and macro Economics 2. Importance of micro economics, limitations of micro economics 3. Macro economics and the theory of income and employment 4. Utility of macro analysis and limitations of macro analysis 5. Need for integrating micro and macro economics Unit 4 : Theory of Demand 1. Utility analysis of demand, basic assumption of law of demand and its criticism 2. Marginal utility analysis,law of diminishing marginal utility, limitations of the law, practical importance of the law 3. Elasticity of Demand, price elasticity, income elasticity, substitution elasticity 4. Law of Equi- marginal Utility, statement of the law, limitations of the law, practical importance of the law 5. Concept of consumer s surplus Unit 5 : Indifference curve analysis 1. Scale of preference, indifference curve 2. Marginal rate of substitution 3. Principal of diminishing marginal rate of substitution 4. Properties of indifference curves Unit 6 : Theory of Production 1. Elementary idea of production 2. Factors of production, production function and iso product curves 3. Nature of costs- fixed and variable costs, total, average and marginal costs Unit 7 : Laws of Returns 1. Laws of diminishing returns 2. Statement of the law and application of the law 3. Law of increasing returns, Law of constant returns 4. Returns to scale, causes of diminishing returns to scale Unit 8 : Theory of product pricing 1. Perfect competition, pricing and output under perfect competition 2. Nature of Perfect competition, conditions for Perfect competition 3. Pricing and output in the marked period, short period and long period, basic assumptions 4. Equilibrium of the firm under perfect competition Unit 9 : Pricing and output under Monopoly

9 1. Meaning of monopoly, bases of monopoly, barriers to the entry of rivals 2. Price output determination under monopoly, short run and long run view, criticism of monopoly 3. Price discrimination under monopoly, meaning, types, conditions and degrees of price discrimination 4. Equilibrium under monopoly Unit 10 : National Income 1. Meaning and definition of national income, concept of national income 2. Gross national product, Net national product 3. National income at factor cost, personal income and disposable income 4. Measurement of national income, production method, output method, income method Unit 11 : theory of Distribution 1. General theory of factor pricing, role of factor prises 2. Meaning of rent, Recardian theory of rent, assumption and criticism 3. Modern theory of rent, quasi rent 4. Meaning of wages, marginal productivity theory of wages, modern theory of wages 5. Meaning of interest, liquidity preference theory of interest, assumption and criticism 6. Nature of profit, risk bearing theory of profit. Section :B Name of Teacher:.has touched and covered the following portion of the above said subject in section B

10 Section: C Name of Teacher:..has touched and covered the following portion of the above said subject in section C B.Com Honours Part 11 Account Group Subject: Business Laws ( Honours Paper 111) Classes of B.Com Honours Part 11 is divided into two section i.e. Section A and B. The above said subject portion is divided between the following two teachers. 1. Dr.Md.Moazzam Nazri 2. Dr.Sk.Anwar Ali Dr.Md.Moazzam Nazri has touched in section A and B. In section A following portion of Syllabus has been covered and finished. Unit 111: The Sale of Goods Act, Contract of Sale- Definition of contract of sale,formation of the contract; essential of a valid contract of sale; Subject matter of Contract; The price, stipulation as to time 2. Conditions and Warranties- introduction, distinction between condition and warranty, Express and implied conditions and warranties. Doctrrine of caveat emptor 3. Transfer of ownership in goods including sale by non- owners introduction, rules regarding transfer of property, Nemo dat quod non habit (Sale by non owner) 4. Performance of contract of Sale-introduction, meaning and modes of delivery, rules relating to delivery of goods 5. Unpaid Seller- Meaning and definitions of Unpaid Seller, features of unpaid seller rights and

11 duties of Unpaid Seller. Unit iv: Partnership Laws A. The Partnership Act,1932 a. Meaning and definitions of partnership. nature and characteristics of partnership b. Registration of firm c. Types of a partner d. Mode of Dissolution of Partnership B. The Limited Liability partnership act,2008 (an overview).comparative Analysis with Partnership Act,1932 In section B following portion of Syllabus has been covered and finished by Dr.Md.Moazzam Nazri Unit 1 The Indian Contract Act Contract-meaning, characteristics and kinds 2. Essentials of Valid contract- offer and Acceptance and revocation of proposals; Contracts, Voidable contracts and void agreements, Contractual capacity, Free consent, Consideration, legality of objects. 3. Discharge of contract-mode of discharge including breach and its remedies 4. Contingent contracts; Performance of contracts: Time and place for performance, Performance of reciprocal promises, Appropriation of payments. 5. Quasi-contracts. 6. Certain relations resembling those created by contracts; Consequences of breach of contract. Unit 11 The Indian Contract Act, 1872: Specific Contract 1. Contract of Indemnity and Guarantee 2. Contract of Bailment-introduction, essentials of a valid contract of bailment, kinds of bailment, rights and duties of bailor and bailee 3. Contract of Agency- Appointment and authority of agents; Sub agent; Ratification; Revocation of authority, Agents duty to principal; Principals duty to agent; Effect of agency on contract with third parties, Unit v: The Negotiable Instruments Act 1881 a. Meaning and characteristics of Negotiable Instruments, classification of Negotiable Instruments-Promissory Note, Bill of Exchange,.Cheque.

12 b. Parties to negotiable instrument. Holder in due Course, privileges of holder in due course. c. Negotiation: Types of Endorsements d. Crossing of cheque e. Bouncing/ Dishonour of cheques Name of Teacher: Dr.SK Anwar Ali In section A following portion of Syllabus has been covered and finished by Dr.Sk Anwar Ali Unit 1 The Indian Contract Act Contract-meaning, characteristics and kinds 8. Essentials of Valid contract- offer and Acceptance and revocation of proposals; Contracts, Voidable contracts and void agreements, Contractual capacity, Free consent, Consideration, legality of objects. 9. Discharge of contract-mode of discharge including breach and its remedies 10. Contingent contracts; Performance of contracts: Time and place for performance, Performance of reciprocal promises, Appropriation of payments. 11. Quasi-contracts. 12. Certain relations resembling those created by contracts; Consequences of breach of contract. Unit 11 The Indian Contract Act, 1872: Specific Contract 1. Contract of Indemnity and Guarantee 2. Contract of Bailment-introduction, essentials of a valid contract of bailment, kinds of bailment, rights and duties of bailor and bailee 3. Contract of Agency- Appointment and authority of agents; Sub agent; Ratification; Revocation of authority, Agents duty to principal; Principals duty to agent; Effect of agency on contract with third parties,

13 Unit v: The Negotiable Instruments Act 1881 f. Meaning and characteristics of Negotiable Instruments, classification of Negotiable Instruments-Promissory Note, Bill of Exchange,.Cheque. g. Parties to negotiable instrument. Holder in due Course, privileges of holder in due course. h. Negotiation: Types of Endorsements i. Crossing of cheque j. Bouncing/ Dishonour of cheques In section B following portion of Syllabus has been covered and finished by Dr.Sk Anwar Ali Unit 111: The Sale of Goods Act, Contract of Sale- Definition of contract of sale,formation of the contract; essential of a valid contract of sale; Subject matter of Contract; The price, stipulation as to time 2. Conditions and Warranties- introduction, distinction between condition and warranty, Express and implied conditions and warranties. Doctrrine of caveat emptor 3. Transfer of ownership in goods including sale by non- owners introduction, rules regarding transfer of property, Nemo dat quod non habit (Sale by non owner) 4. Performance of contract of Sale-introduction, meaning and modes of delivery, rules relating to delivery of goods 5. Unpaid Seller- Meaning and definitions of Unpaid Seller, features of unpaid seller rights and duties of Unpaid Seller. Unit iv: Partnership Laws C. The Partnership Act,1932 e. Meaning and definitions of partnership. nature and characteristics of partnership f. Registration of firm g. Types of a partner h. Mode of Dissolution of Partnership D. The Limited Liability partnership act,2008 (an overview).comparative Analysis with Partnership Act,1932 Subject: Specialized Account (Honours Paper IV)

14 Name of Teacher: Section: A Subsidiary and General Subject: Money &Banking Name of Teacher: Section: A Name of Teacher: Section:B Subject: Planning and Economic Development of India Name of Teacher: Dr. G. Vijayalakshmi Section: A Unit 1 : Basic concept of economic development 1. Nature of Economic system, concept of planned economic system 2. Capitalist economy, characteristics, advantages and disadvantages of capitalism

15 3. Socialist economy, characteristics, advantages and disadvantages of socialism 4. Mixed economy, characteristics, advantages and disadvantages of mixed economy Unit 2 : Economic planning 1. Meaning, objects, scope and importance of economic planning 2. Types of economic planning, flexible and rigid planning, regional, national, and international planning 3. Economic planning in an under developed economy 4. Meaning of under developed country, basics characteristics of under developed countries Unit 3 : Economic planning 1. Essentials of economic planning, steps in planning 2. Planning in India process of planning, features of planning in India 3. Main objectives and evaluation of evaluation of planning, pitfalls of planning commission 4. The strategy of planning, mobilization of resources for Indian plans 5. Evaluation of eleventh five year plan Unit 4: Economic development of India 1. Basis of Economic development 2. Characteristics of a developing economy 3. Problems of economic development in developing country 4. Industrial policy statement in India for economic development 5. Features of under-developed country with special reference to india Unit 5: Role of state for Economic development 1. Role of state in growth and industrial development 2. Balanced regional development and regional disparities 3. Monopoly and concentration of economic powers 4. Price behavior under plan Unit 6: obstacles in Economic development of India 1. Measures of economic development 2. Obstacles in development 3. Problems of unemployment 4. Industrial sickness, nature, causes, consequence and remedies

16 Unit 7: Agriculture in India 1. Growth and development of agriculture in India 2. Land reform- subdivision and consolidation of holding 3. Cooperative farming- agricultural products, problems, rural indebtedness Unit 8: Five year plan and agriculture 1. Agricultural policy of the Government of India 2. Food problems- food security 3. Food products in India Unit 9: Industrialization and Economic development 1. Problems of industrialization in India 2. Privatization objectives, types, arguments in favor and against industrialization 3. Iron and steel industry in India 4. Cotton and Jute industry in India 5. Development of sugar industry in India 6. Importance of small and cottage industry in India 7. Five year plans Unit 10: means of transport for Economic development 1. Overview of the growth of infrastructure 2. Development of Railways 3. Development of road transport Name of Teacher: Section:B B.Com Honours Part 111 (Accounts Group) In B.Com Honours Part 111 there are four honours Papers and each honours paper is divided into two section A and B Subject: Cost Accounting ( Honours Paper v) Section: A

17 Name of Teacher: Dr.Md.Moazzam Nazri Name of Teacher: Mr.Aftab Alam In section A the above said subject portion has been touched and covered by Dr.Md.Moazzam Nazri as follows. Unit 1.Cost Accounting 1. Meaning, Importance, object and scope of cost accounting and its relation with-financial Accounting. Methods of costing -Types of costing systems. 2. Elements of cost and their Classification Unit11.Materials Control and Valuation 1. Meaning and definitions of material, Material or Inventory control, Objective of material or inventory control, essential requirement of inventory control, scope of material control. 2. Purchase of materials, storage of materials, store organization, price of materials, issues, preparation of store ledger. Unit V1.Contract Costing 1. Meaning and definitions of Contract Costing, features and objectives. 2. Preparation of contract account,traetment of profit on incomplete contract Unit.V111 Reconciliation statement 1. Introduction, objectives or need for Reconciliation. Reason for disagreement in profit or loss 2. Methods of preparing Reconciliation Statement 3. Memorandum Reconciliation Account In section A the above said subject portion has been also touched and covered by Mr Aftab Alam as follows Unit 111 Labour Cost Control 1. Introduction, meaning, classification of Labour, organization for accounting and control of labour cost. 2. Labour Turn over 3. Methods of Remuneration

18 Unit IV. Overheads 1. Methods meaning and classification, allocation of overheads 2. Machine our Rate Unit V. Unit Costing 1. Meaning and definitions of output costing, features and objectives of output costing 2. Preparation of cost sheet 3. Calculation of Tender Price or quotation price 4. Production Account or Manufacturing Account Unit V11.Process Cost Accounting 1. Meaning and definitions, characteristics, types of process costing method, suitability of process costing method 2. Difference between Job costing and Process costing, advantages, disadvantages and objective of Process costing. 3. Different forms of Process Account, Treatment of normal and abnormal wastage and abnormal effectives. 4. Bye Product and its Accounting. B.Com Honours Part 111 (Accounts Group) Section B Subject: Cost Accounting ( Honours Paper v) In section B the above said subject portion has been touched and covered by Dr.Md.Moazzam Nazri as follows Unit 111 Labour Cost Control 1. Introduction, meaning, classification of Labour, organization for accounting and control of labour cost.

19 2. Labour Turn over 3. Methods of Remuneration Unit IV. Overheads 1. Methods meaning and classification, allocation of overheads 2. Machine our Rate Unit V. Unit Costing 1. Meaning and definitions of output costing, features and objectives of output costing 2. Preparation of cost sheet 3. Calculation of Tender Price or quotation price 4. Production Account or Manufacturing Account Unit V11.Process Cost Accounting 1. Meaning and definitions, characteristics, types of process costing method, suitability of process costing method 2. Difference between Job costing and Process costing,advantages,disadvantages and objective of Process costing. 3. Different forms of Process Account,Trearment of normal and abnormal wastage and abnormal effectives. 4. Bye Product and its Accounting. In section B the above said subject portion has been also touched and covered by Mr.Aftab Alam as follows. Unit 1.Cost Accounting 3. Meaning, Importance, object and scope of cost accounting and its relation with-financial Accounting. Methods of costing -Types of costing systems. 4. Elements of cost and their Classification Unit11.Materials Control and Valuation 1. Meaning and definitions of material, Material or Inventory control, Objective of material or inventory control, essential requirement of inventory control, scope of material control.

20 2. Purchase of materials, storage of materials, store organization, price of materials, issues, preparation of store ledger. Unit V1.Contract Costing 1. Meaning and definitions of Contract Costing, features and objectives. 2. Preparation of contract account, Traetment of profit on incomplete contract Unit.V111 Reconciliation statement 1. Introduction, objectives or need for Reconciliation. Reason for disagreement in profit or loss. 2. Methods of preparing Reconciliation Statement 3. Memorandum Reconciliation Account Subject: Management Accounting ( Honours Paper VI) Section: A Name of Teacher: Dr. G. Vijayalakshmi. Name of Teacher: Ms. Rashmi Akhtar In section A the above said subject portion has been covered by both teacher with mutual understanding. Details are as follows. Unit 1.Management Accounting an introduction 1. Meaning, Importance, object and scope of Management Accounting 2. Nature or characteristics of Management Accounting 3. Functions of Management Accounting 4. Role and importance of Management Accounting 5. Tools and techniques of Management Accounting 6. Distinction between Management Accounting, Financial Accounting and Cost Accounting Unit 2.Management Accounting financial statements 1. Meaning, Importance, object and types of financial statements 2. Nature and importance of financial statements

21 3. Limitations of financial statements 4. Components of financial statements 5. Illustrations and exercise related to financial statements 6. Interpretation of financial statements Unit 3. Management Accounting concepts and conventions 1. Meaning, Importance, object of accounting concepts 2. Types of accounting concepts 3. Principles of accounting conventions 4. Importance of concepts and conventions for decision analysis 5. Techniques of analysis of financial statements Unit 4. Ratio analysis 1. Meaning, Importance, objectives of ratio analysis 2. Limitations of ratio analysis 3. Forms of accounting ratios profitability and activity ratios 4. Forms of accounting ratios liquidity and solvency ratios 5. Illustrations and exercise related to ratio analysis Unit 5. Funds Flow Statements 1. Meaning, objectives and uses of funds flow statement 2. Advantages and limitations of funds flow statement 3. Explanation of the terms of the funds flow statement 4. Preparation of the funds flow statement 5. Points to be considered while solving illustrations and exercise related to fund flow statement Unit 6. Cash Flow Statements (as per accounting standard 3) 1. Meaning, objectives and uses of cash flow statement 2. Advantages and limitations of cash flow statement 3. Explanation of the terms of the cash flow statement 4. Preparation of the cash flow statement 5. Points to be considered while solving illustrations and exercise related to cash flow statement Unit 7. Inventory control 1. Meaning, objectives and importance of inventory control 2. Material cost control and valuation 3. Concept of LIFO, FIFO, HIFO, NIFO and average cost method of stock valuation

22 4. Methods and techniques of inventory control 5. ABC, EOQ, JIT and perpetual inventory system 6. Illustrations and exercise related to inventory control Unit 8. Inflation Accounting 1. Meaning, objectives and uses of inflation accounting 2. Reasons for the emergence of inflation accounting 3. Merits and demerits of inflation accounting 4. Techniques or methods of price level accounting 5. Illustrations and exercise related to inflation accounting Unit 9. Marginal costing 1. Meaning, objectives and uses of marginal costing 2. Meaning, objectives and uses of absorption costing 3. Distinction between marginal and absorption costing 4. Integrated accounting system 5. Illustrations and exercise related to marginal costing Unit 10. Budget and budgetary control 1. Meaning, objectives and uses of budget 2. Concept of fixed and flexible budget and master budget 3. Concept of budgetary control, its merits and demerits 4. Various tools and techniques of budgetary control 5. Illustrations and exercise related to preparation of budget