Cost Accounting - A Comprehensive Study

Introduction to Basic Cost Concepts

Costing, Cost Accounting and Accountancy

Objectives of Cost Accounting

Difference between Cost Accounting and Financial Accounting.

Difference between Managment Accounting and Cost Accounting

Cost Classifications

Cost classification based on Time Period

Cost classifications based on Behaviour

Committed Fixed Cost and Discretionary Fixed Cost

Cost classification on the basis of element

Cost classification based on Relationship

cost classification based on controllability

Cost classification based on Normality

cost classification based on attributability

Cost classification based on relevance to decision making

cost classification on the basis of cause and effect relationship

cost classification on the basis of payment

cost classification on the basis of function

cost sheet introduction

cost classifcation for cost sheet

Simple cost sheet

Comprehensive cost sheet

Cost Sheet Case Study 1

Cost Sheet Case Study 2

Cost Sheet Case Study 3

Cost Sheet Case Study 4

Cost Sheet Case Study 5

Introduction to Material Costing

objectives of material cost controlling

Requirements of Material cost control

elements of material cost control

techniques of material cost control

Decision making in material purchases

Material purchase procedure

supplier selection procedure

Supplier payment procedure

Just in Time Purchases

ABC Analysis

Introduction to Labour Costing

Difference between Direct and Indirect Labour Cost

Labour Cost Control

Roles of Departments in Controlling Labour Cost

Factors Controlling Labour Cost

Collection of Labour Cost

Time Keeping

Traditional Methods of Time Keeping

Mechanical Time Keeping

Requisites of Good Time Keeping System

Time Booking

Reconciliation Gate Card and Job Card

Objectives of Time Keeping

Payroll Procedure

Idle Time

Overtime Premium

Effects of OT on Productivity

Steps for Controlling Overtime

Labour Turnover

Labour turnover due to new recruitment

Causes of Labour Turnover

Effects of Labour Turnover

Steps available for minimising labour turnover

Introduction to Overheads Costing

Overheads Classification

Overhead by Functions

Overheads by Nature

Overheads by Element

Overheads by Controllability

Advantages of classification of fixed and variable expenses

Accounting and Cotnrol of Manufacturing Overheads

Steps in estimating and absorbing overheads

Allocation and Apportionment

Apportionment Methods of Common Expenses

Bases of Apportioning Overheads

Reapportionment of Service Department Overheads

Case Study on Direct Distribution Method

Case Study Step Method

Case Study Simultaneous Equation Method

Case Study Repeated Distribution Method

Case Study Trial and Error Method

Introduction to Standard Costing Techniques

Standardd Cost Definition

Setting up of Standard Cost

Standard Costing Definition

Physical Standards

Material Quantity Standards

Labour Time Standards

Overhead Standards

Problems in setting physical standards

Types of Standards

Need for Standard Costing

Process of Setting Standards

Types of Variances

Introduction to Standard Costing Variances

Material Cost Variance

Material Price Variance

Material Usage Variance

CS Material Cost Variance

Comprehensive Case Study on Material Cost Variance

MCV more than one material

Comprehensive Case Study MCV

Labour Cost Variance

Labour Rate Variance

Labour Efficiency Variance

Case Study Labour Cost Variance

Comprehensive Case Study LCV

Overhead Cost Variance

Production Volume Variance

Overhead Expenses Variances

Variable Overhead Cost Variance

Introduction to Operating Costing

Case Study - Composite Units

Case study bus fare

Case Study Cost per absolute ton km

Cost Sheet under Operating Costing

Case Study evaluation of facilities

Introduction to Marginal Costing

Direct Costing

Difference between Marginal Costing and Direct Costing

Differential Cost

Difference between Marginal and Differential Costing

Difference between Variable and Fixed Cost

Semi Variable Cost

Marginal Cost Sheet Format

Marginal Cost Equation

Absorption Costing Format

Difference between Marginal Costing and Absorption Costing

Contribution

Profit or loss and Contribution

Decision making Indicators of Marginal Costing

PV Ratio

Indifference Point

Difference between Indifference Point and Break Even Point

Shut Down Point

Case Study on Segregation of Fixed and Variable Cost

Case Study Break Even Point

Case Study on Computation of Sales for Desired Profits

Case Study on Profit Volume Ratio and Break Even Point

Computation of Price Volume Ratio and BEP

Case Study Marginal Costing Basic Computations

Case Study Profit Volume Ratio and BEP

Finding Fixed Cost, PVR and Sales

Marginal Cost Sheet and VC Interpretation

Cost Sheet Case Study 6 Simultaneous Equation

Cost Sheet Case Study 7 Find Selling Price per unit