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.

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.

A chapter on ‘Cost Audit’ has been revised on the bases of the Companies Act, 2013 and the latest Cost Audit Standards have been included in the book.

Cost Accounting Syllabus For B.Com. Semester V of Kurukshetra University

Introduction: Nature and scope of cost accounting; Cost concepts and classification; Methods and techniques.

Materials: Material planning and purchasing, Pricing of a material issue; Treatment of material losses, Material and inventory control; Concept and techniques.

Labour: Labour cost control procedure; Labour turnover; Idle time and overtime; Methods of wage payment: Time and piece rate; Incentive schemes.

Overheads: Classification, Allocation, Apportionment and absorption of overheads; Under and over-absorption.

Methods of costing: Unit costing; Job costing; Contract costing; Process costing (Process losses, Valuation of work in progress, Joint and by-products) Service costing (Only transport).

Standard costing and variance analysis: Material and labour. Cost control and cost reduction; Cost audit; An overview of cost audit standards.

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 Cost Control Procedure, 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 Accounting Standard-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. Cost Audit
18. Process Costing : Inter-Process Profits
19. Process Costing : Equivalent Production
20. Standard Costing
21. Variance Analysis : Material & Labour Variance
22. Cost Control And Cost Reduction
23. Cost Auditing Standards

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