BBA303
The basic objective of this course is to provide the students the elements of cost accounting and there applications in various situations.
Introduction: Objectives, Elements of cost, Cost Sheet, Importance of Cost Accounting, Types of Costing, Installation of Costing System, Difference between Cost Accounting and Financial Accounting. Material and Labour Cost Control: Meaning and objectives of Material control, Material Purchase Procedure, Fixation of Inventory levels – Reorder level, EOQ, Minimum level, Maximum level, Danger level and Methods of Valuing Material Issues – FIFO, LIFO, HIFO, NIFO. Labour and Cost Control; its importance, Methods of Time Keeping and Time Booking. Treatment and Control of Labour Turnover, Idle Time, Overtime, Systems of Wage Payment – Time Wage System, Piece Wage System and Balance or Debt Method. Overheads – Classification, Allocation and Apportionment of Overheads. Absorption of Overheads, Under – Absorption and Over Absorption. Methods of Costing – Job, Batch, Contract and Process Costing excluding Evaluation of work in progress.
- Advance Cost Accounting, Jain & Narang, Kalyani Publishers, New Delhi.
- Cost Accounting, S.N. Mittal
- Cost Accounting, B.K. Bhar
- Principles and Practice of Cost Accounting – N.K. Prasad.