Book description
Cost Accounting is designed to provide essential skill sets to managers for planning and controlling their business financials. Covering a wide range of topics, this book is suitable for both undergraduate and postgraduate students of business study courses offered by universities across India. It also meets the requirement of the students of CA, ICWA and CS.
Table of contents
- Cover
- Title Page
- Brief Contents
- Contents
- About the Author
- Dedication
- Preface
- 1. Overview of Cost Accounting
- 2. Basic Concepts of Cost
- 3. Cost Sheet/Statement of Cost
-
4. Material Control/Inventory Control
- 4.1 Introduction
- 4.2 Objectives of Material Control
- 4.3 Requirements of Material Control
- 4.4 Duties of a Storekeeper
- 4.5 Levels of Stock
- 4.6 Economic Order Quantity
- 4.7 ABC Analysis
- 4.8 Just-in-Time Analysis—the Origin
- 4.9 VED Analysis
- 4.10 Perpetual Inventory System
- 4.11 Periodic Inventory System
- 4.12 Stock/Material Turnover Ratio
- 4.13 Advanced-Type Solved Problems
- Chapter Summary
- Key Formulae
- Exercise for Your Practice
- Discussion Questions
- Problems
- Examination Problems
- 5. Pricing of Materials
-
6. Labour
- 6.1 Introduction
- 6.2 Labour Cost
- 6.3 Important Factors For Controlling Labour Cost
- 6.4 Distinction between Direct and Indirect Labour Costs
- 6.5 Labour Turnover
- 6.6 Time and Motion Study
- 6.7 Time Wage System
- 6.8 Piece Wage System
- 6.9 Straight Piece-Rate System
- 6.10 Differential Piece-Rate System (or Taylor's Plan)
- 6.11 Merrick's Multiple Piece-Rate Plan
- 6.12 Gantt's Task and Bonus Wage Plan
- 6.13 Halsey's Premium Plan
- 6.14 Rowan's Plan
- 6.15 Emerson's Efficiency Plan
- 6.16 Advanced-Type Solved Problems
- Chapter Summary
- Key Formulae
- Exercise for Your Practice
- Discussion Questions
- Problems
- Examination Problems
-
7. Overheads Analysis
- 7.1 Introduction
- 7.2 Overhead Costs
- 7.3 Classification of Overheads
- 7.4 Allocation of Overheads
- 7.5 Apportionment of Overheads
- 7.6 Allocation Versus Apportionment
- 7.7 Bases for Apportionment
- 7.8 Primary Distribution of Overheads
- 7.9 Secondary Distribution of Overheads
- 7.10 Step Method
- 7.11 Reciprocal Method
- 7.12 Advanced-Type Solved Problems
- Chapter Summary
- Key Formulae
- Exercise for Your Practice
- Discussion Questions
- Problems
- Examination Problems
- 8. Overhead Rates
- 9. Reconciliation of Cost and Financial Accounts
- 10. Contract Costing
- 11. Service Costing/Operating Costing
-
12. Process Costing
- 12.1 Introduction
- 12.2 Advantages and Disadvantages of Process Costing
- 12.3 Industries where Process Costing is Applied
- 12.4 Characteristic Features of Process Costing
- 12.5 Accounting Procedure of Process Costing
- 12.6 Normal Loss
- 12.7 Abnormal Loss
- 12.8 Abnormal Gain
- 12.9 Treatment of Normal Process Loss, Abnormal Process Loss and Abnormal Gain
- 12.10 Job Costing Versus Process Costing
- 12.11 Interprocess Profits and their Accounting Procedure
- 12.12 Equivalent Production
- 12.13 Joint Products and By-Products
- 12.14 Split-Off Point/Separation Point
- 12.15 Joint Costs
- 12.16 Separation Costs
- 12.17 Difficulties in Costing Posed By-products and Joint Products
- Physical Units Method
- Reverse Cost/Net Realizable Value Method
- Chapter Summary
- Exercise for Your Practice
- Discussion Questions
- Problems
- Joint Products and By-products
-
13. Marginal Costing
- 13.1 Introduction
- 13.2 Features of Marginal Costing
- 13.3 Limitations of Marginal Costing
- 13.4 Two Underlying Principles in Marginal Costing
- 13.5 Basic Terms Used in Marginal Costing
- 13.6 Important Formulae Used in Marginal Costing
- Contribution
- Break-Even Analysis
- 13.7 Applications of Marginal Costing
- Make or Buy Decision
- Plant Merger Decision
- Product Mix or Sales Mix
- Elimination of a Product or Department
- Fixation of Selling Price
- Profit Planning
- Introduction of a New Product
- Alternative Method of Production
- Advanced Sums with Answer
- Chapter Summary
- Key Formulae
- Exercise for Your Practice
- Additional Exercises
- Discussion Questions
-
14. Budgetary Control
- 14.1 Introduction
- 14.2 Meaning of Budget
- 14.3 Purposes of Budgeting
- 14.4 Salient Features of the Budgetary Control System
- 14.5 Different Types of Budgets
- 14.6 Budget Ratios
- 14.7 Zero-Base Budgeting
- Chapter Summary
- Key Formulae
- Exercise for Your Practice
- Discussion Questions
- Problems
- Examination Problems
-
15. Standard Costing
- 15.1 Introduction
- 15.2 Advantages of Standard Costing
- 15.3 Limitations of Standard Costing
- 15.4 Material Variance
- 15.5 Labour Variance
- 15.6 Wages Revision Variance
- 15.7 Overhead Cost Variance
- 15.8 Sales Variance
- 15.9 Material Variances
- Chapter Summary
- Key Formulae
- Exercise for Your Practice
- Discussion Questions
- Problems
- Acknowledgments
- Copyright
Product information
- Title: Cost Accounting
- Author(s):
- Release date: February 2012
- Publisher(s): Pearson India
- ISBN: 9788131759462
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