The book has been published according to the syllabus of B.Com. Part-II examination of various universities of Chhattisgarh. In this revised edition, several new Illustrations (solved) of real worth have been added and questions graded. All the chapters have been closely screened and revised to make the book utility-oriented in a larger measure. Questions asked in various universities examinations have been incorporated in the book.

At the end of the book Cost Accounting Standards have been incorporated in the book.

A chapter on ‘Cost Audit’ has been thoroughly revised on the basis of Companies Act, 2013 and Companies (Cost Records and Rules), 2014. The Illustrations and Practical Questions have been given Topic-wise, graded from easy to difficult. The students of elementary studies may select easy questions Topic-wise and leave difficult ones. The ‘Practice Manual of Cost Accounting’ contains the solution of unsolved Numerical questions given at the end of each chapter in this book.

Cost Accounting Syllabus 

Unit I Introduction: Nature and Scope of Cost Accounting; Cost Concepts and Classification; Methods and Techniques; Installation of Costing System; Concept of Cost Audit; Accounting for Material; Material Control; Concept and Techniques; Pricing of Material Issues; Treatment of Material Losses.

Unit II Accounting for Labour: Labour cost control procedure; Labour turnover; Idle time and overtime; Methods of wage payment—time and piece rates; Incentive schemes. Accounting for overheads: Classification and departmentalization; Absorption of overheads; Determination of overhead rates; Under- and over- absorption and its treatment.

Unit III: Cost Ascertainment; Unit costing; Job, batch, and contract costing.

Unit IV Operating Costing; Process Costing excluding inter-process profits and joint and byproducts.

Unit V Cost Records: Integral and non-integral system; Reconciliation of cost and financial accounts; Break-even Point.

Cost Accounting Book Contents

1. Cost Accounting: An Introduction
2. Cost: Elements, Concepts and Classification (as Per CAS-1)
3. Material Cost Accounting (Including Material Purchase and Issue Pricing)
4. Material/Inventory Cost Control: Concept and Techniques (Including Treatment of Material Losses)
5. Labour Cost Accounting Labour Turnover, Idle Time and Overtime (In The Context of CAS-7)
6. Methods of Wage Payment: Time Rates, Piece Rates and Incentive Schemes
7. Accounting for Overheads: Classification and Treatment
8. Overheads: Allocation, Apportionment (Departmentalisation) and Absorption (In The Context of CAS-3)
9. Machine Hour Rate Method
10. Unit or Output Costing-I (Cost Sheet, Cost Statement and Production Account)
11. Unit or Output Costing-II (Calculation of Estimates, Tender and Quotation Price)
12. Contract Costing (Including As-7)
13. Job and Batch Costing
14. Process Costing (Including Joint Products and By-Products)
15. Process Costing: Inter-Process Profits
16. Process Costing: Equivalent Production
17. Reconciliation of Cost and Financial Accounts
18. Service Costing (Operating Costing)
19. Cost Audit
20. Cost Records
21. Cost Control Accounts: Non-Integrated and Integrated
22. Cost-Volume-Profit Analysis: Break-Even Point
    ● Appendix: Cost Accounting Standards

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• In this revised edition, several Illustrations (solved) of real worth have been added and questions graded. All the chapters have been closely screened and revised to make the book utility-oriented in a larger measure.
• The Illustrations and Practical Questions have been given Topic-wise, graded from easy to difficult. The students of elementary studies may select easy questions Topic-wise and leave difficult ones.

Cost Accounting Syllabus For B. Com. II Year of Awadhesh Pratap Singh University Rewa (APSU), Barkatullah University Bhopal, Rani Durgavati Vishwavidyalaya Jabalpur (RDVV), Vikram University Ujjain, Dr. Harisingh Gour University Sagar (DHGU)

Unit-I: Cost: Meaning, Concept, and Classification. Elements of Cost, Nature & Importance, Material Costing. Methods of Valuation of Material issue. Concept and material control and its techniques. Labour Costing, Methods of Wages Payments.

Unit-II: Unit Costing, Preparation of Cost Sheet, and Statement of Cost (Including calculation of tender price) Overhead costing, (Including calculation of machine hour rate.)

Unit-III: Contract and Job costing, Operating Costing. (Transport Cost)

Unit-IV: Process Costing (Including Inter-Process Profit and Reserve). Reconciliation of Cost and Financial Accounts

Unit-V: Marginal Costing-Profit-Volume Ratio, Break-even Point, Margin of Safety, Application of Break-even Analysis. Standard Costing and variance analysis (Material and Labour only)

Cost Accounting Book Contents

1. Cost Accounting: An Introduction
2. Cost: Elements, Concepts, and Classification(as Per CAS-1)
3. Material Cost Accounting (Including Material Purchase and Issue Pricing)
4. Material/Inventory Cost Control: Concept and Techniques (Including Treatment of Material Losses)
5. Labour Cost Accounting Labour Turnover, Idle Time and Overtime (In The Context of CAS-7)
6. Methods of Wage Payment: Time Rates, Piece Rates, and Incentive Schemes
7. Accounting for Overheads: Collection and Classification
8. Overheads: Allocation, Apportionment (Departmentalisation) and Absorption (In the Context of CAS-3)
9. Machine Hour Rate Method
10. Unit or Output Costing-I (Cost Sheet, Cost Statement, and Production Account)
11. Unit or Output Costing-II (Calculation of Estimates, Tender, and Quotation Price)
12. Contract Costing (Including AS-7)
13. Job And Batch Costing
14. Process Costing (Including Joint Products and By-Products)
15. Reconciliation of Cost and Financial Accounts
16. Operating Costing
17. Process Costing: Inter-Process Profits
18. Cost-Volume-Profit Analysis : Break-Even Point
19. Absorption Costing and Marginal Costing : Concept and Computation
20. Marginal Costing : As a Tool For Decision-Making
21. Standard Costing
22. Variance Analysis (Material & Labour Variance)

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