We have great pleasure in presenting First edition “Cost and Management Accounting” written for students of UG courses. The related matters are written in a simple and easily understandable.
This volume is an attempt to provide the students with thorough understanding of Cost and Management Accounting. We have presented the subject matter in a systematic manner with liberal use of charts and diagrams where ever necessary so as to make it interesting and sustain students’ interest.
Contents –
Unit – 1 Introduction to Cost Accounting
Introduction
Meaning of Cost
Costing
Cost Accounting
Features of Cost Accounting
Scope of Cost Accounting
Functions of Cost Accounting
Advantages of Cost Accounting
Limitations of Cost Accounting
Concept of Cost
Analysis and Classification of Costs
Elements of Cost
Preparation of Cost Sheet (Statement of Cost)
Quotations and Tender
Review Questions
Unit – 2 Process Costing & Operating Costing
Introduction
Meaning of Process Costing
Features of Process Costing
Applicability of Process Costing
Difference between Process and Job Costing
Wastage and By-products
Normal and Abnormal Loss
Preparation of Process Accounts
Operating Costing
Classification of Costs
Features of Operating Costing
Preparation of Log Sheet for Transport
(Goods and Passenger) Costing
Review Questions
Unit – 3 Marginal Costing and CVP Analysis
Introduction
Application of Marginal Costing in Terms of Cost Control
Cost Volume Profit Analysis
Break Even Charts and Profit Charts
Level of Activity Planning
Break-even-Analysis:
Application of BEP for Various Business Problems
Review Questions
Unit – 4 Budget and Budgetary Control
Introduction
Concepts of Budgets
Types of Budgets
Budgetary Control
Types of Budgets
Advantage
Limitations of Budgets
Simple Problems based on Flexible and Cash Budget
Basic concept of Zero-base Budgeting
Review Questions
