ADVANCED COST ACCOUNTING

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

Course Outcomes (COs):

Course Outcomes

Learning and teaching strategies

Assessment Strategies

  
 

On completion of this course, the students will be able to:

CO 73: Analyse the cost ascertain, reduce and control cost in service industries and processing sectors. 

CO 74: Evaluate the profits disclosed by financial and cost accounting to facilitate reconciliation.

CO 75: Investigate how cost-volume-profit are related and use CVP analysis as a planning and decision making aid

CO 76: Analyze and evaluate information for cost ascertainment, planning, control and decision making

CO 77: Evaluate the appropriate method of costing and apply it in real life situations with the help of simple case studies.

Interactive Lectures, Discussion, Tutorials, assignments.

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments,  Individual projects

 
     
     
     

 

9.00
Unit I: 
Service Costing

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

Process Costing: Meaning of Process costing, Procedure Treatment of Normal and Abnormal Loss and Abnormal Gains, Valuation and Accounting of Completed Process Stocks,

Inter process profit

Joint and By Product Costing: Methods of treatment of By- product, Methods of apportionment of Joint Cost

9.00
Unit III: 
Cost Control and Integrated Accounts

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

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 Techniques

Marginal Costing Techniques: Marginal cost, Stock valuation under marginal costing versus differential costing and absorption costing .Cost Volume Profit Analysis: break even analysis, Break even chart, Cost indifference point

9.00
Unit V: 
Application of Marginal Costing Techniques

Application of Marginal Costing Techniques: Decisions based on Marginal Costing like Make or Buy, Retain or Replace Asset,  Own or Lease, Shut down or Continue, Capturing foreign market, Dropping or adding a product, Determining the most beneficial product mix, Selection of Equipments.

Essential Readings: 

 

ESSENTIAL READINGS:

·        Agarwal, Jain, & Sharma. Cost Accounting. Ramesh Book Depot, Jaipur.

·        Jain, Khandelwal, & Pareek. Cost Accounting. Ajmera Book Company.

·        Arora, M. N. Cost Accounting: Principles and Practice. Vikas Publication, New Delhi.

·        Oswal, Maheshwari& Modi. Advance Cost Accounting. Ramesh Book Depot

 

SUGGESTED READINGS:

·        Banerjee, B. Cost Accounting: Theory and Practice. PHI, New Delhi.

·        Kishore, R. M. Cost Accounting. Taxmann's, New Delhi.

·        Lal, J. Cost Accounting. Tata Mcgraw Hill, New Delhi.

·        Madegowda, J. Cost Accounting. Himalaya Publishing House.

·        Maheshwari, S. N. Cost Accounting. Mahavir Publication.

·        Nigam, B. L., & Jain, I. C. Cost Accounting. PHI, New Delhi.

References: 

e-RESOURCES:

 

JOURNAL:

  • The Indian Journal of Commerce          
  • FIIB Business Review
  • Jindal Journal of Business Research
  • Vikalpa: Journal for Decision Makers

 

 

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: 
2022-2023
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