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UNIT-I
INTRODUCTION
Cost Accounting: Definition – Features – Objectives – Functions – Scope – Advantages and Limitations- Essentials of a Good Cost Accounting System- Difference between Cost Accounting and Financial Accounting – Cost Concepts – Cost Classification.
UNIT-II
MATERIAL
Direct and Indirect Material Cost – Inventory Control Techniques – Stock Levels – EOQ – ABC Analysis– JIT - VED - FSND - Issue of Materials to Production – Pricing Methods: FIFO - LIFO with Base Stock and Simple and Weighted Average Methods.
UNIT-III
LABOUR AND OVERHEADS
Labour: Direct and Indirect Labour Cost – Methods of Payment of Wages (only Incentive Plans): Halsey, Rowan, Taylor Piece Rate and Merrick Multiple Piece Rate Methods.
Overheads: Classification – Methods of Allocation – Apportionment and Absorption of Overheads.
UNIT-IV
UNIT AND JOB COSTING
Unit Costing: Features – Cost Sheet – Tender and Estimated Cost Sheet. Job Costing: Features –Objectives – Procedure – Preparation of Job Cost Sheet.
UNIT-V
CONTRACT AND PROCESS COSTING
Contract Costing: Features – Advantages - Procedure of Contract Costing – Guidelines to Assess Profit on Incomplete Contracts. Process Costing: Meaning – Features – Preparation of Process Account – Normal and Abnormal Losses.
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CategoriesArts and Science
Format EPUB
TypeeBook