105: COST ACCOUNTING
Total Marks : 80
UNIT-I :
Introduction: 15
Meaning of cost,
costing and cost accountancy; scope, objectives, advantages and limitations of
cost accounting; Cost accounting vis-Ã -vis Financial accounting; Installation
of costing system; cost unit, cost centres, classification of costing methods
and techniques; and their merits and demerits; elements of cost, preparation of
cost sheet,
UNIT-II:
Material: 15
Importance and
need for material control; Material purchase procedure; Stores functions:
receiving, inspecting, storing, issue of materials; materials costing – pricing
of receipts, pricing of issues; LIFO and FIFO methods, stores ledger, inventory
control techniques – EOQ, levels of inventory, ABC analysis, Perpetual
Inventory System.
UNIT-III: Labour: 15
Labour cost,
remuneration and incentive different methods of labour remuneration, incentive
schemes – (Halsey & Rowan). Labour turnover- causes and effects, and its
measurement, Meaning of idle time, overtime, work study, method study, Time and
Motion Study.
Expenses : Direct
and Indirect Expenses, Treatment of Interest on capital, depreciation, idle
facilities and research and development expenses
UNIT-IV: 10
(A) Overheads:
Meaning and
classification of overheads; allocation and apportionment of overheads; meaning
and methods of overhead absorption.
(B) Cost Records 10
Non-integral
system and integral system– meaning and advantages, recording of transactions
under non-integral system and integral system. Reconciliation of cost and financial
accounts.
UNIT-V:
Process &
Contract Costing 15
Process Costing;
treatment of normal and abnormal loss; Preparation of process accounts;
Contract Costing and preparation of Contract Account
SUGGESTED BOOKS
Cost
Accounting – Principle and Practice; Vikash Publishing House
Cost
Accounts; S.P. Jain & K.L. Narang, Kalyani Publisher.
Cost
Accounting; M.Y. Khan & P.K. Jain, Tata McGraw Hill
Practical
Costing; P.C. Tulsian, Vikash Publishing House, New Delhi.
Cost
Accounting , Horngreen
Cost
Accounting, B Banerjee; Prentice Hall of India Pvt. Ltd., New Delhi.
Cost
Accounting, Nigam and Jain, Prentice Hall of India Pvt. Ltd., New Delhi.
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