Description

Cost Accounting

 

TYBCOM Semester VI

 

Syllabus

 

1. Cost Control Accounts
Advantages and Disadvantages
Cost Control Accounts, Principal Accounts, Subsidiary Accounts to be maintained
Note – Simple Practical Problems on Preparation of Cost Control Accounts

2. Contract Costing
Progress Payments, Retention Money, Contract Accounts, Accounting for Material, Accounting for Tax deducted at source by the Contractee, Accounting for plant used in a contract, treatment of profit on incomplete contracts, Contract profit and Balance sheet entries
Excluding Escalation Clause
Note – Simple Practical Problems

3. Process Costing
Process Loss, Abnormal Gains and Losses, Joint products and by products.
Excluding Equivalent units, Inter-process profit
Note – Simple Practical Problems Process Costing and joint and by products

4. Introduction to Marginal Costing
Marginal Costing Meaning, applications, advantages, limitations, Contribution, Breakeven Analysis, Margin of Safety and Profit Volume Graph
Note : Simple Practical problems based on Marginal Costing excluding decision making

5. Introduction to Standard Costing
Various Types of Standards, Setting of Standards, Basic Concepts of Material and Labour Variance Analysis
Note : Simple Practical Problems based on Material and Labour Variances excluding sub variances

6. Some Emerging Concepts of Cost Accounting
Target Costing
Life Cycle Costing
Benchmarking
ABC Costing
Note – No Practical Problems