Description

Cost Accounting – I

FYBAF Semester I

Syllabus

1. Introduction to Cost Accounting
Evolution
Objectives and Scope of Cost Accounting
Importance and Advantages of Cost Accounting
Difference between Cost Accounting and Financial Accounting
Limitations of Financial Accounting
Definitions : Cost, Costing and Cost Accounting
Classification of Cost on Different Bases
Cost Allocation & Apportionment
Coding System
Essentials of Good Costing System

2. Material Cost
Material Cost : The Concept
Material Control Procedure
Documentation
Stock Ledger, Bin Card
Stock Levels
Economic Order Quantity (EOQ)

3. Labours Cost
Labour Cost : The Concept
Composition of Labour Cost
Labour Cost Records
Overtime / Idle Time / Incentive Schemes

4. Overheads
Overheads : The Concept
Classification of Overheads on Different Bases
Apportionment and Absorption of Overheads