Cost Accounting

Syllabus

     COST ACCOUNTING

Unit-I: Introduction

Meaning of Cost, Costing and Cost Accounting, Features, Scope and Functions of Cost Accounting, Advantages and Limitations of Cost Accounting; Concept of Cost; Analysis and Classification of Costs; Elements of Cost; Preparation of Cost Sheet (Statement of Cost); Quotations and Tender. Introduction and Need for Reconciliation between Financial Accounts and Cost Account, Reasons for Disagreement in Profit; Preparation of Reconciliation Statement.

Unit-II: Process Costing

Meaning, Features and Applicability, Difference between Process and Job Costing, Wastage and by-Products, Normal and Abnormal Loss. Preparation of Process Accounts.

Unit-III: Operating Costing

Classification of Costs, Features of Operating Costing: Transport Costing (Standard Charge, Running and Operating Cost, Maintenance Charges and Log Sheet).

Unit-IV: Marginal Costing

Introduction, Application of Marginal Costing in Terms of Cost Control, Level of Activity Planning- Break-Even-Analysis: Application of BEP for Various Business Problems.