SYLLABUS

UNIT-I

Introduction: - Objective, elements of cost, cost sheet, importance of cost accounting, types of costing, installation of costing system, difference between cost accounting and financial accounting.
Material Control: - Meaning and objectives of material control, material purchase procedure, fixation of inventory levels – Reorder level, EOQ, Minimum level, Maximum level, Danger level and Methods of Valuing Material Issues.

UNIT-II

Labor Cost Control: - its importance, methods of Time Keeping and Time Booking; Treatment and Control of Labor Turnover, Idle Time, Overtime, Systems of Wage Payment – Time Wage System, Piece Wage System and Balance or Debt Method; Overhead – classification, allocation and apportionment of overhead including machine hour rate.
Methods of Costing – Job, Batch and Contract Costing, Process Costing Fundamental, Process Losses & Gains.

UNIT-III

Management Accounting: - Meaning, nature, scope, objective and functions; marginal costing and profit planning, practical application of marginal costing techniques.
Responsibility Accounting: - types of responsibility centers, performance evaluation criteria, responsibility reporting; budgeting – role of budgets and budgeting in organizations, budgeting process, operational and financial budgeting.

UNIT-IV

Nature and types of Financial Statements; techniques of financial statement analysis, ratio analysis, fund flow and cash flow analysis, techniques in performance measurement.
Management accounting information for activity and process decisions; basic capital budgeting techniques.