ABOUT THE COURSE: The subject, Cost Accounting, introduces the fundamental concepts of cost, cost accounting and costing and carefully builds up a detail understanding of various elements of costs and the techniques for ascertainment, controlling and monitoring of costs. It also highlights different industry specific costing methods to accumulate total costs with due compliance of the Cost Accounting Standards that provide the framework for such tasks. The subject also focuses on the details of alternative cost bookkeeping processes, integration or reconciliation with financial accounting system used in organisations. It enumerates various techniques of costing to facilitate managerial decision making on cost optimisation, profit planning and control.INTENDED AUDIENCE: Anyone, who is interested to enrich his/ her knowledge in Cost and Management AccountancyPREREQUISITES: Higher Secondary completedINDUSTRY SUPPORT: Recognised by the ICMAI
Overview
Syllabus
Week 1:Understanding Basics of Cost Accounting
- Introduction to Cost Accounting
- Cost Concepts, Classification of Costs
- Accounting for Material Cost
- Accounting for Employee (Labour) Cost
- Overhead Accounting
- Preparation of Cost Sheet
- Job Costing
- Service/Operating Costing
- Contract Costing
- Process Costing
- Cost-Volume-Profit (CVP) Analysis, BEP Analysis
- Applications of Contribution Analysis in Decision Making
- Introduction to Budgetary Control
- Cash Budget & Flexible Budget
- Standard Costing
- Variance Analysis
Taught by
Prof. Arindam Banerjee
