Interaction between economic theory and production; concept of firm, industry and economy.
Consumer behavior, utility, indifference curves and maps; consumers' supply, demand function.
Production function, effect of technology, short and long range cost functions, monopoly and competition, determination of price, price
discrimination, pricing of products.
Function of financial management and financial executive; nature of risk, interrelationship between risk and return; effect of tax on
return.
Analysis and interpretation of standard financial statements.
Concept of operating cycle and working capital management.
Planning of profit and leverage (operating and financial).
Project evaluation indices like NPV, IRR.
Definition and scope of cost accountancy and costing methods; Elements of cost identifications; Recording, ascertainment of direct
material and labour cost; Overhead classification, distribution and absorption; Process costing, uniform, marginal and standard costing
methods; Case studies showing application of financial management and costing methods.