This course will enable the students to analyze complex cost structures, implement advanced costing techniques, and make informed managerial decisions in dynamic business environments.
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Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Course Code |
Course title |
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25CATG513 |
Advanced Cost Accounting (Theory)
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CO157: Apply the concept of service costing to determine the cost and profit in a service industry. CO158: Analyze the process and flow of accounts from one process to another, and apply the concepts to ascertain profit or loss. CO159: Apply equivalent production concepts and understand marginal costing principles.. CO160: Analyze decision-making processes using relevant cost analysis and differential cost analysis CO161: Evaluate production decisions and pricing strategies in special circumstances. CO162: Contribute effectively in course-specific interaction |
Approach in teaching: Interactive Lectures, Discussion, Tutorials, Reading assignments; Solving Questions. Learning activities for the students: Self learning assignments, Effective questions, Seminar presentation. |
Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects. |
• Meaning of Service Cost
• Service costing in case of Transporters, Boiler house, Hospitals, Canteens and Hotels
• 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
• 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
● 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 [2] and cost accounting/
● https://www.icsi.edu/media/website/CostAndManagementAccounting.pdf [3]
● https://books.google.com/books/about/Cost_Accounting_Text_and_Problems.h... [4]
Reference Journals:
● The Indian Journal of Commerce
● FIIB Business Review
Links:
[1] https://accountingtaxation.iisuniv.ac.in/courses/subjects/advanced-cost-accounting-14
[2] https://devlibrary.in/managerial
[3] https://www.icsi.edu/media/website/CostAndManagementAccounting.pdf
[4] https://books.google.com/books/about/Cost_Accounting_Text_and_Problems.html?id=Fyszhs9mD2cC
[5] https://accountingtaxation.iisuniv.ac.in/academic-year/2025-2026