Cost Accounting

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

Cost Accounting Syllabus For B.Com. IIIrd Semester of Kumaun University, Nainital.

• Unit I : Introduction : Nature, Scope and Advantages of Cost Accounting, Installation of Costing System, Difference between Cost and Financial Accounting.
• Unit II : Classification of Costs. Material : Purchase, Storage and Control of Material, Stock Levels, Inventory, Control Techniques. Methods of Pricing Material Issues.
• Unit III : Labour : Meaning and Components of Labour Cost. Concept, Accounting and Control of Idle time and Overtime. Methods of Wage Payment and Incentive Plans, Labour Turnover.
• Unit IV : Overheads : Collection, Classification, Allocation, Apportionment and Absorption of Overheads (Primary and Secondary Distribution), Machine Hour Rate.
• Unit V : Unit Output Costing : Concept of and Need for Unit Output Costing; Preparation of Cost Sheet and Tender Price; Preparation of Reconciliation Statement.
• Unit VI : Process Costing : Preparation of Process Accounts; Treatment of Normal and
• Abnormal Wastage; Treatment of Joint Product and By-product. Unit VII : Contract Costing : Preparation of Contract Account, Determination of Profit on Completed and Uncompleted Contracts; Operating Costing.

Cost Accounting 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. Introduction Of Cost Accounting Standards In India