TECHNIQUES OF COST ACCOUNTING

Paper Code: 
ABF 301
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Outcomes

Learning and teaching strategies

Assessment Strategies

On completion of this course, the students will be able to:

CO 109: Analyse the cost, ascertain, reduce and control cost in service industries.

CO 110: Evaluate the profits disclosed by financial and cost accounting to facilitate reconciliation.

CO 111: Analyse the cost, ascertain, reduce and control cost in processing sectors.  

CO 112: Investigate how cost volume profit are related and use CVP analysis as a planning and decision making aid

CO 113: Analyze and evaluate information for cost ascertainment, planning, control and decision making in real life situations

Interactive Lectures, Discussion, Tutorials, assignments.

 

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments,  Individual projects

 

9.00

Service Costing (Operating Costing): Meaning of Service Cost, Service costing in case of Transporters, Boiler house, Hospitals, Canteens and Hotels

Reconciliation of Cost & Financial Statements: Causes of differences, Procedure of Reconciliation of the results of Cost and Financial Accounts, Reconciliation Statement and Memorandum Reconciliation Account

9.00

Process Costing: Meaning of Process costing, Procedure Treatment of Normal and Abnormal Loss and Abnormal Gains, Accounts for Normal and Abnormal loss and Abnormal Gain, Inter process Profit 

Joint and By Product Costing

9.00

Equivalent Production, Treatment of W.I.P. on FIFO and Weighted Average Method

Marginal Costing: Meaning and objectives, Break – even Analysis, Cost – Volume – Profit Analysis

9.00

Decision Making: Relevant cost analysis, Differential cost analysis, Stock valuation under marginal costing versus absorption costing. Decisions based on Marginal Costing like Make or Buy, Own or Lease, Shut down or Continue

9.00

Production Decisions: Dropping or adding a product, Determining the most beneficial product mix, Production method to be adopted, Pricing decisions in special circumstances like sale below cost, export pricing, dumping and inflation

Essential Readings: 

· Jain, Khandelwal & Pareek Cost Accounting  Ajmera Book Company , Jaipur

· Oswal, Maheshwari & Modi  Advance Cost Accounting  Ramesh Book Depot

· Jawahar Lal  Cost Accounting  Tata Mcgraw Hill , New Delhi

References: 

SUGGESTED READINGS:

· Nigam, B.M Lall &  Jain, I.C. Cost Accounting  ,PHI , New Delhi

· Banerjee, B. Cost Accounting Theory and Practice PHI , New Delhi

· Agarwal, Jain, Sharma, Shah & Mangal Cost Accounting   Ramesh Book Depot , Jaipur

·  Arora , M.N, Cost Accounting Principles and Practice  Vikas Publication , New Delhi

 

e RESOURCES:

· https://devlibrary.in/managerial and cost accounting/

· https://www.icsi.edu/media/website/CostAndManagementAccounting.pdf

· https://books.google.com/books/about/Cost_Accounting_Text_and_Problems.html?id=Fyszhs9mD2cC

 

JOURNAL:

· The Indian Journal of Commerce

· FIIB Business Review

 

Note:  The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless.

Academic Year: 
2022-2023
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