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 university 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 the 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.
Important formulae in chapters like Cost-Volume-Profit Analysis and Variance Analysis have been given in a Box at the end of the chapters.
A companion book ‘Practice Manual of Cost Accounting’ prepared by the same authors has been published for the benefits of the students. The book contains solutions to the unsolved problems given at the end of each chapter of this book under the heading `Numerical Questions’.

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
23. Absorption Costing and Marginal Costing: Concept and Computation
24. Marginal Costing: as a Tool For Decision-Making
25. Budgeting and Budgetary Control
26. Standard Costing
27. Variance analysis (I) (Material & Labour Variance)
28. Variance analysis (II) (Overhead Variance)
    ● Appendix: Cost Accounting Standards

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