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Costing Methods (Blr Univ.)


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Costing Methods is one of the important courses of almost all Commerce Programmes of study. And the universities and the institutes offering these programmes are continuously revising the course curricula. Recently, Bangalore University has revised its curricula of B.Com. wherein a course on Methods of Costing (i.e., Costing Methods) is offered. Course inputs of this paper comprise of five important methods of Costing. In this background, the present work is prepared.

First chapter presents the fundamental aspects of Cost Accounting followed by an analysis of Methods of Costing. The second chapter analyzes the Job Costing wherein definitions of Job Costing are presented followed by their analysis identifying the features and objectives of Job Costing, pre-requisites for the adoption of Job Costing, preparation of Job Cost Sheet together with the procedure for the ascertainment of job cost are discussed. This chapter also discusses another Method of Costing, viz., Batch Costing. A number of illustrations are discussed at the end. The third chapter discusses different aspects of Contract Costing such as meaning and definitions, and features of Contract Costing, differences between Contract Costing and Job Costing, accounting treatment of different elements of costs, etc., are discussed. Besides, special problems of Contract Costing, viz., certification of work done, retention money, profit on incomplete contracts, valuation of work-in-progress, escalator clause, and cost-plus contracts are discussed with appropriate illustrations. At the end, a number of problems are solved. The fourth chapter deals with Process Costing wherein a detailed analysis of all aspects of Process Costing is made with appropriate illustrations. Further, special problems like process loss and gain (both normal and abnormal) and their accounting treatment, joint and by-products costing are analyzed and presented followed by a large number of illustrations on different types of problems. Procedure of ascertaining cost of road transport undertakings is explained in the fifth chapter covering different aspects such as classification of operating costs, cost units, etc. This chapter also provides a brief theoretical outline of Boiler/Power House Costing, Hotel/Canteen Costing and Hospital Costing. At the end of the book, skill development activities are presented followed by a model question paper to give an idea about the type of question paper to the student community.

This book is prepared systematically keeping in mind two important aspects viz., the theoretical framework and the practical application. The book lays emphasis on the comprehensive analysis of each and every concept supported well by relevant examples/illustrations. It views the concepts, tools, techniques, etc., from the point of view of practical relevance. Besides discussing appropriate problems at the end of each of major concepts, the book discusses, at the end of each chapter, a large number of problems drawn from the question papers of different universities and institutes.



Chapter 1 . Methods of Costing – Introduction
Chapter 2 . Job and Batch Costing
Chapter 3 . Contract Costing
Chapter 4 . Process Costing
Chapter 5. Operating Costing
Skill Development
Annexure – I : Question Paper Pattern
Annexure – II : Model Question Paper


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Dr. J. Made Gowda


Himalaya pub