Basics of Cost Accounting

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Dr. Parag P. Saraf & Prof. Shivanand V. Sanmath

9789389627466

BBA,UniversityofPune, Second Semester
Syllabus
 
204: Basics of Cost Accounting
 
Unit
Contents
Lectures
1
Introduction
1)      Concept of Cost, Costing, Cost Accounting and Cost Accountancy.
2)      Limitations of Financial Accounting.
3)      Origin, Objectives and Features of Cost Accounting.
4)      Advantages and Limitations of Cost Accounting.
5)      Difference between Financial and Cost Accounting.
6)      Conceptual Analysis of Cost Unit and Cost Centre.
8
2
Elements of Cost and Cost Sheet
1)      Material, Labour and other Expenses.
2)      Classification of Cost and Types of Costs.
3)      Preparation of Cost Sheet.
10
3
Overheads
1)      Meaning and Definitions.
2)      Classification of Overheads.
3)      Collection, Allocation, Apportionment and Re‑apportionment of Overheads.
4)      Under- and Over-absorption – Definition and Reasons.
8
4
Methods of Costing
1)      Contract Costing – Meaning and Features of Contract Costing, Works – Certified and Uncertified, Escalation Clause, Cost Plus Contract, Work in Progress, Profit on Incomplete Contract.
2)      Process Costing – Meaning, Features of Process Costing, Preparation of Process Costing includingNormaland Abnormal Loss/Gains.
3)      Service Costing – Meaning, Features and Application, Cost Unit – Simple and Composite, Preparation of Cost Sheet for Transport Service.
16
5
Cost Audit
1)      Meaning, Definition, Objectives and Scope.
2)      Advantages of Cost Audit.
3)      Difference between Financial and Cost Audit.
4)      Types of Cost Audit.
6
SPPU/BBA/2019/2/04
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