COST ACCOUNTING
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COST ACCOUNTING SOLVED PAPERS AND GUESS
Product Details: COST ACCOUNTING
Format: BOOK
Pub. Date: NEW EDITION APPLICABLE FOR Current EXAM
Publisher: MEHTA SOLUTIONS
Edition Description: 2021-22
RATING OF BOOK: EXCELLENT
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If you find yourself getting fed up and frustrated with other BANGALORE UNIVERSITY book solutions now mehta solutions brings top solutions for BANGALORE UNIVERSITY COST ACCOUNTING REPORT book contains previous year solved papers plus faculty important questions and answers specially for BANGALORE UNIVERSITY .questions and answers are specially design specially for BANGALORE UNIVERSITY students .
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4.7 COST ACCOUNTING
OBJECTIVE
The objective of this subject is to familiarize students with the various concepts and element of cost.
Unit 1: INTRODUCTION TO COST ACCOUNTING
Introduction – Meaning & Definition of Cost, Costing and Cost Accounting – Objectives of Costing -
Comparison between Financial Accounting and Cost Accounting – Application of Cost Accounting –
Designing and Installing a Cost Accounting System – Cost Concepts - Classification of Costs – Cost Unit –
Cost Center – Elements of Cost – Preparation of Cost Sheet – Tenders and Quotations.
Unit 2: MATERIAL COST CONTROL
Meaning – Types – Direct Material – Indirect Material - Material Control – Purchasing Procedure – Store
Keeping – Techniques of Inventory Control – Setting of Stock Levels – EOQ – ABC Analysis – VED
Analysis – Just In-Time – Perpetual Inventory System – Documents used in Material Accounting - Methods
of Pricing Material Issues – FIFO – LIFO – Weighted Average Price Method and Simple Average Price
Method.
Unit 3: LABOUR COST CONTROL
Meaning – Types – Direct Labour – Indirect Labour – Timekeeping – Time booking – Idle Time –
Overtime – Labour Turn Over. Methods of Labour Remuneration - Time Rate System – Piece Rate System
– Incentive Systems – Halsey plan – Rowan Plan – Taylor‟s differential Piece Rate System and Merrick‟s
Differential Piece Rate System – Problems
Unit 4: OVERHEAD COST CONTROL1
Meaning and Definition – Classification of Overheads – Procedure for Accounting and Control of
Overheads – Allocation of Overheads – Apportionment of Overheads – Primary Overhead Distribution
Summary – Secondary Overhead Distribution Summary – Repeated Distribution Method and Simultaneous
Equations Method – Absorption of Factory Overheads – Methods of Absorption – Machine Hour Rate –
Problems.
Unit 5: RECONCILIATION OF COST AND FINANCIAL ACCOUNTS
Need for Reconciliation – Reasons for differences in Profit or Loss shown by Cost Accounts and Profit or
Loss shown by Financial Accounts – Preparation of Reconciliation Statement and Memorandum
Reconciliation Account
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