Cost and Management Accounting


1. Introduction to Cost Accounting : Meaning and definition, scope and use of cost accounting, cost centre, cost accounting and financial accounting, cost concepts, classification of costs.
2. Elements of Cost: Material,labour and expense,direct Material cost-Meaning,Purchase and stores routine, methods of Princing Material issues,wastage,scrap spoilage and defectives,Invenory Control techniques.direct labour cost-Meaning Remunertion methods,labour-turnover,treatments of idle time,overtime premium,Employee welfare costs and frige benefits.
3. Overheads : Introduction, diret expenses, steps in accounting of overheads, classification of overheads, techniques for separatin of fixed and vaniavle costs allocation and ipportionment of overheads, absorption of overheads – methods of overheads, absorption, overabsorption and under absorption of overheads.
4. Costing methods : Output costing, contract costing, service costing provess costing.
5. Cot control Technques :
a. Budgeting Introductiion, comprehensive/master budget, fixed and flexible budgets.
b. Standard costing: Introduction, Cost Variance analysis- material, lasbour and overhead variances.
c. Marginal Costing and Manage
B-MANAGEMENT ACCOUNTING
6. Introduction :Management Process and Accounting, Managrial planning and control, scope and role of management accounting installation and opoeration cost.
7. Statement of changes in financial position : Introduction, fund flow analysis and cash flow analysis.
8. Ratio Analysis : Introduction, types of ratios, liqulity ratios, Leverage ratios, profitability ratios, activity ratios.
9. Capital budgeting Techniques : Introduction-Payback period method accounting rate of Return method, Net present value method, internal rate of retrun method, profitability.
C-INDEX METHOD
Risk Analysis in project decisions : Introduction, Business risk & financial risk, Sensitivity analysis, Simulation Standerd costing as on absolute measure of risk, Hilliers method of risk analysis