Cost Accounting Syllabus NEP 2024 [BCOM 2ND Sem Dibrugarh University]

BACHELOR OF COMMERCE PROGRAMME (FYUGP)

DETAILED SYLLABUS OF BCOM 2ND SEMESTER

SEMESTER-II

Title of the Course: COST ACCOUNTING

Course Code: MINCOM2

Nature of the Course: Minor

Course Credit: 04 credits

Distribution of Marks: 80 (End Sem) + 20 (In-Sem)

Objective: To acquaint the students with basic concepts used in cost accounting, various methods involved in cost ascertainment and cost accounting book keeping systems.

Contents:

UNIT – I. Introduction:            (20 Marks)         

Meaning, objectives and advantages of cost accounting; Difference between cost accounting and financial accounting; Cost concepts and classifications; Elements of cost; Installation of a costing system; Role of a cost accountant in an organisation; Preparation of Cost Sheet.

UNIT – II. Elements of Cost: Material and Labour:     (20 Marks)         

Materials: Material/inventory control techniques. Accounting and control of purchases, storage and issue of materials. Methods of pricing of materials issues — FIFO, LIFO, Simple Average, Weighted Average, Replacement, Standard Cost. Treatment of Material Losses

Labour: Accounting and Control of labour cost. Time keeping and time booking. Concept and treatment of idle time, over time, labour turnover and fringe benefits. Methods of wage payment and the Incentive schemes- Halsey, Rowan, Taylor’s Differential piece wage.

UNIT – III. Elements of Cost: Overheads:      (20 Marks)         

Classification, allocation, apportionment and absorption of overheads; Under- and over absorption; Capacity Levels and Costs; Treatments of certain items in costing like interest on capital, packing expenses, bad debts, research and development expenses; Activity based cost allocation.

UNIT – IV. Methods of Costing:        (20 Marks)         

Unit costing, Job costing, Contract costing, Process costing (process losses, valuation of work in progress, joint and by-products), Service costing

MODES OF IN-SEMESTER ASSESSMENT:      (20 Marks)

® One Sessional Examination – 10 marks

® Other (any one) – 10 marks

* Assignment

* Seminar Presentation on any of the relevant topics

Course Outcomes: The students after completing the course will be able to:

® Understand the objectives and importance of cost accounting and the methods of maintaining the accounts.

® Know the various elements of the cost involved in the total cost.

Suggested Readings:

1. Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan, Cost Accounting: A Managerial Emphasis, Pearson Education.

2. Drury, Colin. Management and Cost Accounting. Cengage Learning.

3. Jawahar Lal, Cost Accounting. McGraw Hill Education

4. Nigam, B.M. Lall and I.C. Jain. Cost Accounting: Principles and Practice. PHI Learning

5. Rajiv Goel, Cost Accounting. International Book House

6. Singh, Surender. Cost Accounting, Scholar Tech Press, New Delhi.

7. Jain, S.P. and K.L. Narang. Cost Accounting: Principles and Methods. Kalyani Publishers

8. Arora, M.N. Cost Accounting – Principles and Practice. Vikas Publishing House, New Delhi.

9. Maheshwari, S.N. and S.N. Mittal. Cost Accounting: Theory and Problems. Shri Mahavir Book Depot, New Delhi.

10. Iyengar, S.P. Cost Accounting. Sultan Chand & Sons

11.H.V. Jhamb, Fundamentals of Cost Accounting, Ane Books Pvt. Ltd.

Note: Latest edition of text books may be used.