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To my family,
who always stood beside me in every phase of my life.
Love You!

Preface to Third Edition
I feel a great sense of pride and enthusiasm in presenting third edition of my book. This book has primarily been written with the aim of meeting the needs and interest of C.A. final students.
Every topic has been dealt precisely and to the point in a simple and understandable language. Things have been explained with proper reasoning, wherever possible. A good number of practical problems have been provided to understand the theoretical aspect. Many new exercises from have been introduced with hints for all difficult exercises. The book covers around past 25 year questions till May 10. While carrying out changes, the general approach to the subject, with an inclusion of a variety of practical problems, and the lucidity of presentation of the subject matter of the previous edition have been retained and an endeavor has been made to give a lot more content to the user-both students and instructors.

Human efforts are not perfect. In spite of my best efforts, I am aware of possible errors and omissions that escaped my notice. I shall, therefore, be extremely thankful to the learned ones who will extend their cooperation by sending their valuable criticism, suggestions and observations for further improvement of the book. I am reachable at paraggupta_ca@yahoo.co.in. May’ 2010

CA. Parag Gupta

 
No part of this book may be reproduced or utilized in any form or by  any means, electronic or mechanical including photocopying, recording  or by any information storage and retrieval system, without permission  in writing from author. 

 
 
 
 
 
 
For any  Costing & O.R. related query, you may call me during 9:00 p.m.­ 11:00 p.m. @ +91 9891432632 or mail me at 
paraggupta_ca@yahoo.co.in. For registration enquiry, any other query,  etc. call +91 9968875529 
 
 
 
 
 
 
 
For solutions of Costing, join world’s largest free consultancy group of  CA Final students: 
http://groups.yahoo.com/group/costingbyparaggupta 
 
 
 
 
 
 
 
 
Price: Rs. 150/‐ 

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Syllabus - New Course
Paper 5: Advanced Management Accounting
(One paper – Three hours – 100 marks)
Level of Knowledge: Advanced knowledge
Objective:
To apply various management accounting techniques to all types of organizations for planning, decision making and control purposes in practical situations.
To develop ability to apply quantitative techniques to business problems 1. Cost Management
(a) Developments in the business environment; just in time; manufacturing resources planning; (MRP); automated manufacturing; synchronous manufacturing and back flush systems to reflect the importance of accurate bills of material and routings; world class manufacturing; total quality management. (b) Activity based approaches to management and cost analysis (c) Analysis of common costs in manufacturing and service industry (d) Techniques for profit improvement, cost reduction, and value analysis (e) Throughput accounting

(f) Target costing; cost ascertainment and pricing of products and services (g) Life cycle costing
(h Shut down and divestment.
2. Cost Volume Profit Analysis
(a) Relevant cost
(b) Product sales pricing and mix
(c) Limiting factors
(d) Multiple scarce resource problems
(e) Decisions about alternatives such as make or buy, selection of products, etc. 3. Pricing Decisions
(a) Pricing of a finished product
(b) Theory of price
(c) Pricing policy
(d) Principles of product pricing
(e) New product pricing
(f) Pricing strategies
(g) Pricing of services
(h) Pareto analysis
4. Budgets and Budgetary Control
The budget manual, Preparation and monitoring procedures, Budget variances, Flexible budgets, Preparation of functional budget for operating and non-operating functions, Cash budgets, Capital expenditure budget, Master budget, Principal budget factors.

5. Standard Costing and Variance Analysis
Types of standards...
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