Coming soon
ADVANCED COST ACCOUNTING
Course Outcomes (COs):
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Course Outcomes |
Learning and teaching strategies |
Assessment Strategies |
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On completion of this course, the students will be able to: CO 141: Analyse the cost, ascertain, reduce and control cost in service industries. CO 143: Evaluate the profits disclosed by financial and cost accounting to facilitate reconciliation. CO 144: Analyse the cost, ascertain, reduce and control cost in processing sectors. CO 144: Investigate how cost volume profit are related and use CVP analysis as a planning and decision making aid CO 145: Analyze and evaluate information for cost ascertainment, planning, control and decision making in real life situations |
Interactive Lectures, Discussion, Tutorials, assignments.
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Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Individual projects |
Service Costing (Operating Costing):Meaning of Service Cost, Service costing in case of Transporters, Boiler house, Hospitals, Canteens and Hotels
Process Costing: Meaning ofProcess costing, Procedure Treatment of Normal and Abnormal Loss and Abnormal Gains, Accounts for Normal and Abnormal loss and Abnormal Gain, Inter process Profit
Joint and By Product Costing
Equivalent Production, Treatment of W.I.P. on FIFO and Weighted Average Method
Marginal Costing: Meaning and objectives, Break – even Analysis, Cost – Volume – Profit Analysis
Decision Making: Relevant cost analysis,Differential cost analysis, Stock valuation under marginal costing versus absorption costing. Decisions based on Marginal Costing like Make or Buy, Own or Lease, Shut down or Continue
Production Decisions: Dropping or adding a product, Determining the most beneficial product mix, Production method to be adopted, Pricing decisions in special circumstances like sale below cost, export pricing, dumping and inflation
• Jain, Khandelwal & Pareek Cost Accounting Ajmera Book Company , Jaipur
• Oswal, Maheshwari& Modi Advance Cost Accounting Ramesh Book Depot
• Jawahar Lal Cost Accounting Tata Mcgraw Hill , New Delhi
SUGGESTED REFERENCE BOOKS:
• Nigam, B.M Lall & Jain, I.C. Cost Accounting ,PHI , New Delhi
• Banerjee, B. Cost Accounting Theory and Practice PHI , New Delhi
• Agarwal, Jain, Sharma, Shah & Mangal Cost Accounting Ramesh Book Depot , Jaipur
• Arora , M.N, Cost Accounting Principles and Practice Vikas Publication , New Delhi
e RESOURCES:
• https://devlibrary.in/managerial and cost accounting/
• https://www.icsi.edu/media/website/CostAndManagementAccounting.pdf
• https://books.google.com/books/about/Cost_Accounting_Text_and_Problems.h...
JOURNAL:
• The Indian Journal of Commerce
• FIIB Business Review
