This first edition of the book, which is designed to bridge the gap between theory and practical, stands out distinctly from others on account of the following salient features :

· This book is written in easy language as to make easy for students to understand.

· Systematic arrangement of practical problems and the contents of each chapter.

· This book covers all the more comprehensively the course contents requirements of the students appearing at B.Com., and other similar courses.

· The book follows an examination oriented approach.

Contents

Units - I - 8 Lectures
1. Introduction : Meaning, objectives and advantages of cost accounting. Differences between cost accounting and financial accounting. Cost concepts and classification, Elements of cost.

Units - II - 10 Lectures
2. Materials : Material/inventory Control- concepts and techniques. Accounting and Control of purchases. Store and issue of material. Methods of pricing of material issue – FIFO, LIFO, Simple Average, Weighted Average, Replacement, standard. Treatment of material losses.

Units - III - 8 Lectures
3. Labour : Accounting and Control of labour cost. Time keeping and time booking. Concept and treatment of idle time. Labour turnover and fringe benefits.

Units - IV - 10 Lectures
4. Overhead : Classification, allocation, apportionment and absorption of overheads. Under and over-absorption. Capacity costs. Treatment of certain items in costing: like interest on capital, research and development cost, bad debts, depreciation, etc. Activity based cost allocation.

Units - V - 15 Lectures
5. Methods of Costing : Unit costing. Job costing. Contract costing. Process costing (excluding treatment of work-in-progress, joint and by-product). Operating costing (only transport).

Units - VI - 4 Lectures
6. Reconciliation of cost and financial accounts.

Units - VII - 15 Lectures
7. Marginal Costing :- Meaning, Assumptions and uses, Cost-Volume-Profit Analysis-Break-even analysis, Decision making areas – product mix, make/buy decision.

Units - VIII - 5 Lectures
8. Budgetary Control – Concept of Budget and Budgetary Control, Objectives, merits and limitations, Fixed and flexible budgets and cash budget.