Advanced Cost Accounting

Paper Code: 
ATG 217
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

The objective of this course to understand costing procedure involved in cost ascertainment system.

9.00
Unit I: 
Service Costing (Operating Costing):

Meaning of Service Cost, Service costing in  case of Transporters, Boiler house, Hospitals, Canteens and Hotels.

Reconciliation of Cost & Financial Statements: Causes of differences, Procedure of Reconciliation of the results of Cost and Financial Accounts, Reconciliation Statement and Memorandum Reconciliation Account.

9.00
Unit II: 
Process Costing:

Meaning of Process costing, Procedure Treatment of Normal and Abnormal Loss and Abnormal Gains, Accounts for Normal and Abnormal loss and Abnormal Gain, Inter process Profit

Equivalent Production, Treatment of W.I.P. on FIFO and Weighted Average Method.

Joint and By Product Costing

9.00
Unit III: 
Cost Control Accounts

Costing Books, Advantages and disadvantages, Ledgers to be maintained, Journal Entries. 

Integrated accounts: Integrated Accounting, Procedure, Integrated accounts vs. Cost and Financial accounts.

9.00
Unit IV: 
Marginal Costing and 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

9.00
Unit V: 
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.

Essential Readings: 
  1. Advance Cost Accounting: Oswal, Maheshwari, Modi (Ramesh Book Depot)
  2. Cost Accounting: Jawahar Lal, Tata Mcgraw Hill, New Delhi
  3. Cost Accounting Principles and Practice: M.N. Arora, Vikas Publication, New Delhi

 

References: 
  1. Cost Accounting: B.M Lall Nigam, I.C. Jain, PHI, New Delhi
  2. Cost Accounting Theory and Practice: Bhabatosh Banerjee, PHI, New Delhi
  3. Cost Accounting: Agarwal, Jain, Sharma, Shah and Mangal, Ramesh Book Depot, Jaipur
  4. Cost Accounting: Jain, Khandelwal & Pareek, Ajmera Book Company, Jaipur

 

Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless

 

Academic Year: 
2015-2016
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