COST & MANAGEMENT ACCOUNTING

FULLY SOLVED BOOK LASY 5 YEARS PAPERS SOLVED PLUS GUESS

COST & MANAGEMENT ACCOUNTING

UNIT-I: Introduction to Costing: Classification of costs - Cost Behaviour - Fixed, Variable and Semi Variable Costs - Calculation of fixed and variable elements of a semi variable cost -Role of Management Accountant in the organisation

UNIT-II: Preparation of Cost Sheet: Classification of costs - prime cost, works cost, cost of production, Cost of sales, preparation of cost sheet for special work orders. Issue of materials - FIFO, LIFO, Simple Average and
Weighted Average pricing methods. Introduction to labour cost and its types - overheads – classification – apportionment – absorption (NP)

UNIT-III: Application of Marginal Costing: Introduction to Marginal Costing – Features - P/V ratio - BEP - Decision involving alternative choices: make or buy decisions, determination of optimum sales mix, Limiting
factor or Key Factor.(NP)

UNIT-IV: Activity Based Costing (ABC)- Concept of ABC- Categories in activity based costing- allocation of overheads under ABC - Benefits and Limitations of Activity based Costing (NP) Relevant Costing - Concept of
Relevant Costing - Features of Relevant Cost - Decision Making using relevant costing technique. (NP)

UNIT-V: Budgeting and Budgetary Control:Definition of Budget, Budgeting and Budgetary Control - Need for Budgetary Control - Types of budgets - Preparation of Production Budget, Sales Budget,Cash
Budget and Flexible Budget - Approaches to Budgeting - Zero based
Budgeting (NP)