Course Outcomes |
Learning and teaching strategies |
Assessment Strategies |
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On completion of this course, the students will be able to: CO 109: Analyse the cost, ascertain, reduce and control cost in service industries. CO 110: Evaluate the profits disclosed by financial and cost accounting to facilitate reconciliation. CO 111: Analyse the cost, ascertain, reduce and control cost in processing sectors. CO 112: Investigate how cost volume profit are related and use CVP analysis as a planning and decision making aid CO 113: 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
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
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
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
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Oswal, Maheshwari & Modi Advance Cost Accounting Ramesh Book Depot
SUGGESTED READINGS:
e RESOURCES:
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https://devlibrary.in/managerial and cost accounting/
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https://www.icsi.edu/media/website/CostAndManagementAccounting.pdf
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https://books.google.com/books/about/Cost_Accounting_Text_and_Problems.html?id=Fyszhs9mD2cC
JOURNAL:
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The Indian Journal of Commerce
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FIIB Business Review