Cost Accounting

Course Syllabus : for Cost Accounting

• Chapter 1: General Principal – Basic Concepts and Cost Sheet 5 Lectures 3 hrs 28 min
  • 01: Basic Concepts, Introduction, General Principles, Cost Sheet, Financial Accounting, Cost Accounting, Management Accounting, Financial Management, Cost Ascertainment, Cost Control and Reduction, Costing, Cost Audit, Objectives of Cost Accounting, Elements of Costs, Elements, Overheads, Material, Labour, Expenses, Elements of Cost, Direct Cost, Indirect Cost, Position of Elements of Cost, Factory Overheads, Office and Administration Overheads, Selling and Distribution Overheads Preview48 min
  • 02: Quick Revision of Concepts, Format of Cost Sheet, Prime Cost, Raw material consumed, Gross Factory Costs, Cost of Production, Cost of Goods sold, Cost of sales, Solution of Practical Questions 42 min
  • 03: Quick Revision of Concepts, Expired Cost and Unexpired Cost, Controllable Cost and uncontrollable cost, Relevant Cost and Irrelevant Cost, Classification of Cost, Solution of Practical Questions 45 min
  • 04: Objectives of Cost Accounting, Classification of cost, Fixed Cost, Variable Cost, Semi Variable Cost, Step Cost, Solution of Practical Questions 38 min
  • 05: Shut down cost, Sunk cost, Opportunity cost, Cost ascertainment, cost object, cost unit, cost centre, profit centre, Method of costing, Techniques of costing, system of costing, Cost Allocation, Cost apportionment 35 min
• Chapter 2: Materials 8 Lectures 5 hrs 35 min
  • 01: Basic Concepts, Material definition, Material control, Purchasing of raw material, receiving of raw material, Inspection of raw material, Storage of raw material, Issuing of raw material, Maintenance of inventory records, stock audit, Level of material, Reorder level, Maximum Stock level, minimum stock level, average stock level, Economic Order Quantity, Ordering Cost, Inventory Carrying Cost, Store keeping cost, Obsolecence cost, SL Examples Preview48 min
  • 02: Quick Revision of Concepts, Solution of Practical Questions 42 min
  • 03: Re-order level, Maximum Stock level, Minimum Stock level, Solution of Practical Questions 38 min
  • 04: Issue of Material, Methods of valuing material issue, First in first out (FIFO), Last in fist out (LIFO), Simple Average, Periodic Simple Average, Weighted Average, Periodic Weighted Average, Format of Stock Ledger, SL Examples 45 min
  • 05: Quick Revision, Solution on Weighted Average, Solution on Periodic Weighted Average, Solution of Practical Questions 35 min
  • 06: Quick Revision, Solution on FIFO, Solution on Simple Average, Solution on Periodic Simple Average, Solution of Practical Questions 42 min
  • 07: Quick Revision, Techniques of Material Control, Solution on LIFO method, Solution on Average Cost method, Stock Turnover Ratio, Solution of Practical Questions 40 min
  • 08: Purchase Requisition, Purchase order, Centralised and decentralised system of purchasing, Periodic Inventory system, Perpetual inventory system, Continuous Stock-taking, Outgoing materials, Pricing of shortages, Solution of Practical Questions 45 min
• Chapter 3: Direct Labour and Direct Expenses 6 Lectures 3 hrs 57 min
  • 01: Basic Concepts, Direct Labour, Indirect Labour, Allocation, Factory Overhead, Control over labour Costs 36 min
  • 02: Personnel Department, Engineering And Works Study Department, Time-keeping Department, Pay-master’s Department, Cost Accounting Department 42 min
  • 03: Engineering and Works Study Department, Time Study, Motion Study, Job analysis, Job evaluation, Time-keeping Department 38 min
  • 04: Methods of Job time keeping, Daily time sheet, Weekly time sheet, Job card, Casual workers, Outworkers, Pay-master’s Department, Gross Wages, Under time wage system, Under Piece wage system 35 min
  • 05: Treatment of Holiday pay, idle time, overtime, Labour turnover, Measurement of labour turnover, Separation rate method, Replacement method, SL Examples, Solution of Practical Questions 41 min
  • 06: Methods of wage payment, Time wage system, Piece wage system, Individual piece work, Group piece work, Specific incentive plans, SL Examples, Halsey premium plan, Rowan plan, Solution of Practical Questions 45 min
• Chapter 4: Overheads – General 4 Lectures 2 hrs 45 min
  • 01: Basic Concepts, Indirect Material, Indirect Labour, Indirect Expense, Normal Overheads, Abnormal Overheads, Fixed Overheads, Variable Overheads, SL Examples 38 min
  • 02: Factory Overheads, Depreciation of Plant and Machinery, Machine-hour rate method, Diminishing balance method, Revaluation method, Solution of Practical Questions 42 min
  • 03: Office and Administrative Overheads, Selling and Distribution Overheads, Solution of Practical Questions 40 min
  • 04: Replacement Cost Method, Fixed Instalment Method, Machine-hour rate method, Diminishing balance method, Revaluation method, Solution of Practical Questions 45 min
• Chapter 5: Overheads Distribution 8 Lectures 5 hrs 35 min
  • 01: Basic Concepts, Overheads Distribution, Allocation, Apportionment, Directly estimated, Indirectly estimated, Basis of Apportionment, Production Department, Service Department, Format of Overhead Distribution Summary, Solution of Practical Questions Preview45 min
  • 02: Quick Revision, Golden Concepts, Service Department, Inter-Departmental Service, Simultaneous Equation Method, Repeated Distribution Method, Trial and Error Method, Solution of Practical Questions 40 min
  • 03: Quick Revision, Solution of Practical Questions, Elements of Cost, Labour, Material, Cost, Expenses, Overheads, Distribution of Factory Overheads, Absorption of Factory Overheads, Percentage Method, Hourly rate method, Some Important Formula, Machine hour rate method, Labour hour rate method, Computation of Machine Hour Rate, Format of Computation of Machine Hour Rate 42 min
  • 04: Quick revision, Computation of Machine Hour Rate, Format of Computation of Machine Hour Rate, Golden Concepts, Solution of Practical Questions 38 min
  • 05: Golden Concepts, SL Examples, Solution of Practical Questions 42 min
  • 06: Golden Concepts, SL Examples, Solution of Practical Questions 45 min
  • 07: Distribution of Factory Overheads, Percentage Method, Hourly rate method, Important Formula, Percentage of Direct Labour, Percentage of Material, Percentage of Prime Cost, Golden Concepts, SL Examples, Solution of Practical Questions 48 min
  • 08: Format of Comparative Cost Statement, Important Formula, Golden Concepts, Solution of Practical Questions 35 min
• Chapter 6: Single or Output Costing 7 Lectures 5 hrs 9 min
  • 01: Basic Concepts, Introduction, cost sheet, Historical Cost Sheet, Estimated cost sheet, Computation of Profit, Production account, Treatment of stock and scrap, Job costing, Batch costing, Single or output costing is applying in Industries, Format of Cost Sheet, Solution of Practical Questions 50 min
  • 02: Quick Revision, Format of Cost Sheet, Stock of Finished Goods, Stock of Work-in-Progress, Treatment of scrap, Treatment of spoiled and defective work, SL Examples, Solution of Practical questions 45 min
  • 03: Quick Revision, Golden concepts, Solution of Practical questions 41 min
  • 04: Format of Statement of Cost, Golden Concepts, Solution of Practical questions 42 min
  • 05: Quick Revision, Secret Hints, Solution of Practical questions 38 min
  • 06: Important Questions for Exam, Solution of Practical questions 48 min
  • 07: Important Formula Discuss, Solution of Practical questions 45 min
• Chapter 7: Job, Batch and Contract 5 Lectures 3 hrs 37 min
  • 01: Basic Concepts, Job, batch and contract costing, Introduction, Single output costing, Contract meaning, Contract A/c, C’EE Personal A/c, Format of Contract A/c, Golden Concepts, Special Note, Format of Contractee A/c, Format of Balance Sheet 50 min
  • 02: Quick Revision, Format of Contract A/c, Special Note, Format of Contractee A/c, Format of Balance Sheet, In the book of Contracter, Golden concepts, Format of contract A/c Discuss, Solution of Practical Questions 42 min
  • 03: Quick Revision, Golden Concepts, Job costing, Solution of Practical Questions 38 min
  • 04: Golden Concepts, Solution of Practical Questions 45 min
  • 05: Solution of Practical Questions 42 min
• Chapter 8: Process Costing 5 Lectures 3 hrs 20 min
  • 01: Basic Concepts, Difference between Job costing and Process costing, Process costing definition, Golden Concepts, Process A/c, Process Stock a/c, Normal Loss A/c, Abnormal Loss A/c, Abnormal Effective A/c, Format of Process A/c, Important Formula 45 min
  • 02: Quick Revision, Define normal loss, Define abnormal loss, define abnormal effective, Steps to prepare A/c, Solution of Practical Questions 42 min
  • 03: Golden Concepts, Important Questions for Exam, Solution of Practical Questions 38 min
  • 04: Calculation of abnormal wastage, Calculation of abnormal effectives, Solution of Practical Questions 35 min
  • 05: Apportionment of Joint Costs, Cost of Production, Statement of Profitability, Solution of Practical Questions 40 min
• Chapter 9: Operating and Service Costing 4 Lectures 2 hrs 51 min
  • 01: Basic Concepts, Operating Costing Meaning, Service Costing meaning, Calculation of costing of service sector, per tonne km, per quintal km, per passenger km, per kilowatt hour, per patient, Transportation costing, Operating costing statement, Standing Charges, Format, Maintenance and Running Charges, Cost per passenger, Golden Concepts 50 min
  • 02: Service sector Transportation, Quick Revision, Solution of Practical Questions 48 min
  • 03: Golden Concepts, Solution of Practical Questions 35 min
  • 04: Important questions for exams, Solution of Practical Questions 38 min
• Chapter 10: Reconciliation of Cost and Financial Accounts 7 Lectures 4 hrs 44 min
  • 01: Basic Concepts, Financial Accounting, Transactions, Recording, Analysing, Summarising, Costing Accounting, Cost Profit, Financial Profit, Cost Ascertainment, Cost control and Cost Reduction, Reason of Difference between Financial Profit and Costing Profit, Trading and Profit & Loss A/c, Pure Financial Items, Financial Income, Financial Expenses, Pure Costing Items 42 min
  • 02: Valuation of Closing Stock, Methods of Charging Depreciation, Format of Reconciliation Statement, Golden Concepts, Secret Hint, Tips to solve question, SL Examples, Financial Book, Cost Book 38 min
  • 03: Items included in financial accounts only, Items included in cost accounts only, Important Concepts, Golden Concepts, Solution of Practical Questions 45 min
  • 04: Abnormal gain and Abnormal losses, Important Questions for Exam, Solution of Practical Questions 35 min
  • 05: Format of Memorandum Reconciliation Account, Format of Cost Sheet, Golden concepts Discuss, Solution of Practical Questions 40 min
  • 06: Quick Revision, Format of Trading and Profit & Loss Account, Solution of Practical Questions 38 min
  • 07: Solution of Practical Questions 46 min
• Chapter 11: Budgetary Control 3 Lectures 1 hrs 55 min
  • 01: Basic concepts, Budgetary Control Define, Meaning of Budget, Essentials of a budget, Budgetary control define, Budgetary control involves, Types of budget, Master Budget, Cost Budget, Cash Budget, Fixed Budget, Flexible Budget, Functional Budget, Purchase Budget, Production Budget, Sales Budget, Solution of Practical Questions 38 min
  • 02: Quick Revision, Factory Overhead Budget, Administration Overhead Budget, Selling & Distribution Budget, Capital Expenditure Budget, Plant Utilisation Budget, format of Raw material Purchase Budget, Solution of Practical Questions 42 min
  • 03: Advantages of Budgetary Control, Limitations of Budgetary Control, Direct Labour Budget, Research and Development Budget, Solution of Practical Questions 35 min
• Chapter 12: Marginal or Variable Costing and Break Even Analysis 5 Lectures 3 hrs 34 min
  • 01: Basic Concepts, Marginal Costing or Variable Costing, Calculation of Profit, Profit Volume Ratio, Important Formula, Relationship between Profit volume ratio and Variable cost ratio, Break-even point define, Formula for Break-even point Discuss, Target for Desired Profit, Output for Desired Profit Formula, Sales for Desired Profit Formula, Marginal of safety, contribution, Relationship between BEP sales and MOS, Key factor 52 min
  • 02: Quick Revision of Concepts, SL Examples, Golden concepts Discuss, Solution of Practical Questions 48 min
  • 03: Advantages of Break-even point, Limitations of Break-even point, Important Questions Discuss, Golden Concepts, Solution of Practical Questions 41 min
  • 04: Comparative Statement of Profitability, Cash Break-even point, Attention Please, Solution of Practical Questions 35 min
  • 05: Advantages of Marginal Costing, Limitations of Marginal Costing, Marginal Cost formula, Marginal Costing and Absorption Costing, Comparative Income Statement, Solution of Practical Questions 38 min