Cost Accounting (Principles and Practice)

The Cost Accounting (Principles and Practice) book has been published according to the syllabi of B.Com examinations For

• B.Com I Year of Jay Narain Vyas University Jodhpur
• B.Com (Hons) II Year of Mahatma Jyotiba Phule Rohilkhand University Bareilly & B.Com 2 II Year of Dr Bhimrao Ambedkar University Agra, Prof. Rajendra Singh Rajju Bhaiya University Prayagraj, Mahatma Jyotiba Phule Rohilkhand University Bareilly, Dr Rammanohar Lohia Avadh University Faizabad, Veer Bahadur Singh Purvanchal University Jaunpur, Bundelkhand University, Chhatrapati Shahu Ji Maharaj University Kanpur, Chaudhary Charan Singh University Meerut, Mahatma Gandhi Kashi Vidyapith Varanasi, Jananayak Chandrashekhar University Ballia
• B.Com (Hons) III Year of Patna University, Magadh University, Patliputra University, Veer Kunwar Singh University Arrah, Tilka Manjhi Bhagalpur University, Munger University, Babasaheb Bhimrao Ambedkar Bihar University, Bhupendra Narayan Mandal University Madhepura, Purnea University, Ranchi University, Nilamber Pitamber University Daltonganj
• B.Com (Hons) Semester II of Kumaun University, B.Com (Hons) Semester IV of Jamshedpur Women’s College & B.Com Semester V of Sri Agrasen Kanya P.G. College Varanasi
• B.Com Semester III of National Post Graduate College Lucknow, Banaras Hindu University & B.Com(Hons) Semester III of Aligarh Muslim University, Sri Dev Suman Uttarakhand University, Tehri Garhwal, University of Lucknow, National Post Graduate College Lucknow
• B.B.A Semester II of National Post Graduate College Lucknow & B.B.A Semester III of Devi Ahilya University Indore

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. 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. A most important feature of this edition is that some advanced exercises with solutions and problems with answer have been given chapter-wise at the end of the book. 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 (Principles and Practice) 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
    ● Appendix: Cost Accounting Standards