Standard costing fundamentals covering introduction to standard costing, meaning of standard, types of standards (basic, ideal, expected, normal), standard cost definitions, comparison with estimated cost, standard costing concept, objectives, budgeting differences, determining standard costs for material, labor, overheads.
Standard cost and standard costing covering meaning of standard, types of standards (basic, ideal, expected, normal), definitions of standard cost, difference between standard cost and estimated cost, concept of standard costing, objectives, difference from budgeting, methods of determining standard cost.
Constitution of India covering preamble, directive principles of state policy (economic principles), fundamental rights (equality, freedom, exploitation, religion, culture, constitutional remedies), fundamental duties, federal republic structure, balance between judiciary and legislative, Right to Information Act, MRTP Act, Competition Act.
Decision making under uncertainty covering constructing payoff tables, uncertainty decision criteria (optimism/maximax, pessimism/maximin, equally likely/Laplace, realism/Hurwicz, regret/minimax regret criterion), risk attitude of decision makers.
Sampling and decision theory covering population and sample concepts, sampling process, advantages of sampling, biasness in sampling, sampling errors (non-sampling and sampling errors), principles of sampling (statistical regularity, inertia of large numbers), decision making environments.