COST AND MANAGEMENT ACCOUNTING Course Code: CC 201 CreditUnits: 03

Course Objective: The course aims at developing an insight into cost accounting, its need and the various methods used to determining the cost of production, preparation of cost sheet, allocation and absorption of overheads, break even analysis, variance analysis and budgeting. Student e!rnin" Outco#e $S O%: Students will able to apply cost accounting methods to evaluate the project business performance and relate the budget to planning and control. . Course Contents: Modu&e 1:Introduction to Cost Accountin" Meaning, nature and scope of cost accounting. Differentiate cost accounting from management accounting and financial accounting. Cost concepts and numerical on preparation of cost sheet. Type of cost and role of cost in decision making. Modu&e 2: Met'ods o( Costin" ) M!teri!& *ricin" ntroduction to various methods used in costing! job costing" batch costing, contract costing, single costing, process costing, services or operating costing. Methods of pricing materials. #ctual cost method, $irst in $irst out method, %ast in $irst out method, &eighted #verage method 'numerical(, )ighest in $irst out method, *eplacement Cost method'no numerical( Modu&e 3: Over'e!d A&&oc!tion !nd Absor+tion ntroduction and classification of overheads.#ccounting for factory overheads, accounting for the administration overheads.Definition and classification of Selling and Distribution overheads and numerical on the same. ntroduction to #ctivity +ased Costing. Modu&e ,: M!r"in!& Costin" !nd Cost -o&u#e *ro(it An!&.sis Marginal Costing , $i-ed . variable cost, meaning . characteristics of marginal costing profit/volume ratio. %imiting or key factor, break0even analysis and calculation of sales for desired profit and numerical on the same. Modu&e /: 0ud"et!r. Contro& Concept of +udget.+udgeting and types of budget. +udgetary Control, objective of budgetary control, preparation of purchase budget, production budget, cash budget, fi-ed . fle-ible budgets and 1ero base budgeting. Modu&e 1: -!ri!nce An!&.sis Concept of variance.Material Cost 2ariance, Material 3rice 2ariance and numerical on the same. %abor cost 2ariance, %abor *ate 2ariance and numerical on the same. Concept of overhead variance. E2!#in!tion Sc'e#e !d !ssess#ent too&s (or S O: Co#+onents 4ei"'t!"e $5% Te2t ) 6e(erences: Text: 8ain S.3 and 9.% :arang .Cost #ccounting, References: 9han M ; and 39 8ain. Management #ccounting. Third <dition, Tata Mc=raw )ill 9oplan *obert S and #nthony # #tkinson. #dvanced Management #ccounting. Third <dition, 3rentice )all. CT 45 3A 6 C 6 6 A 6 EE 75