SimonMash.com | Kerala Plus One & Plus Two Study Notes, Question Papers, Answer Keys, Resources

Important Topics: Meaning and Definition of Cost Accounting Objectives of Cost Accounting Elements of Cost (Material, Labour, Expenses) Classification of Costs (Fixed, Variable, Semi-Variable) Cost Sheet – Preparation and Format Methods of Costing (Job, Batch, Contract, Process, Operating) Techniques of Costing (Marginal, Standard, Direct, Absorption) Budget and Budgetary Control – Meaning and Objectives Types of Budgets (Sales, Production, Cash, Flexible, Master) Advantages and Limitations of Budgetary Control Variance Analysis – Meaning and Types (Material, Labour, Overhead) Marginal Costing – Meaning, Features, Advantages Cost-Volume-Profit (CVP) Analysis Break Even Point – Meaning, Formula, Graphical Presentation Margin of Safety Applications of Marginal Costing (Pricing, Make or Buy, Sales Mix) 1. Meaning and Definition of Cost Accounting Cost accounting is the process of recording, classifying, analyzing, summarizing, and ...

Important Topics: Concept of Management Importance of Management Functions of Management (Planning, Organizing, Staffing, Directing, Controlling) Steps in Planning Elements of Directing Steps in Controlling Principles of Management (Henry Fayol's 14 Principles) Functional Areas of Management Marketing Management – Concept and Objectives Marketing Functions (Exchange, Physical Supply, Facilitating) Advertising – Benefits Salesmanship – Qualities of a Salesman Marketing Mix – 4 P's (Product, Price, Place, Promotion) 1. Concept of Management Management consists of different interconnected and interdependent activities or functions aimed at achieving goals of the organization. Management aims at guiding their efforts towards achieving the common goals or objective. Management may be defined as "the art of getting things done through others" Management may be defined as "To manage is to forecast and to plan, to organiz...

Important Topics: Project – Meaning and Characteristics Phases of a Project (6 phases) Stages of Project Formulation (7 stages) Project Finance – Fixed Capital and Working Capital Determinants of Working Capital Operating Cycle of Working Capital Concepts of Working Capital (Gross and Net) Illustrations on Working Capital Calculation Sources of Finance (Long term, Medium term, Short term) Types of Costs (Fixed, Variable, Total, Average, Marginal) Contribution and Profit Statement Break Even Analysis – BEP in units and sales, PV Ratio Illustrations on Cost and BEP Ratio Analysis – Current Ratio, Debt-Equity Ratio, Gross Profit Ratio, Net Profit Ratio Return on Investment (ROI) Cash Flow Statement and Projected Income Statement Pay Back Method (Equal and Unequal Cash Inflows) Net Present Value (NPV) Method Profitability Index Internal Rate of Return (IRR) Project Report – Meaning, Significance, Process, Contents 1. P...

Important Topics: Forms of Private Sector Enterprises (Sole Proprietorship, Partnership, Joint Stock Company, Co‑operative Society) Sole Proprietorship – Features & Registration Formalities Partnership – Definition, Features, Registration Procedure Joint Stock Company – Definition, Features Co‑operative Society – Features, Registration (Kerala Act) MSMED Act 2006 – Classification of Enterprises (Micro, Small, Medium) Legal Formalities to Start an Enterprise (PAN, TAN, GST, etc.) Recent Trends – E‑Entrepreneurship, Technopreneur, Virtual Marketing, Enlightened Marketing Financial & Supporting Institutions (IFCI, ICICI, IDBI, SIDBI, NABARD, Mudra, KASE, KSEDM, etc.) Question Bank (Fill‑ups, Match, Expand, Short Essays) Forms of Private Sector Enterprises Private Enterprises can be classified into four: Sole proprietorship Partnership Joint Stock Companies Co‑operative Societies Simple Explanation: These are the four main ty...

Important Topics: Concept of Business Opportunity Sensing Entrepreneurial Opportunity (Sources) Conditions for Idea to become Business Opportunity Process of Transformation (Diagram) Environment Scanning – Definition & Importance Process of Environment Analysis Business Environment (Micro & Macro – PESTEL Model) Market Assessment (Demand, Supply, Cost, Innovation, Trend) Trend Spotting and its Types 1. Concept of Business Opportunity Business Opportunity refers to an attractive and accessible economic idea which could be implemented to create a business, earning profit through customer satisfaction, leading to further growth. Simple Explanation: A business opportunity is a good idea that you can actually use to start a business, make money by keeping customers happy, and grow bigger over time. Live Example 1: During COVID-19, the need for online education platforms created a huge opportunity for apps like Zoom and Google Classroom. Live ...