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Principles & Concepts of Cost Management System


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This book stresses on the acquisition of substantive knowledge pertaining to management functions of planning and control on the part of students and attempts to increase their intellectual skills at problem analysis. In the field of substantive knowledge, students should acquaint themselves with the economics of cost management – cost factors under various operating conditions, techniques of constructing a detailed comprehensive budget, cost-volume profit relationships, use of standard costs and flexible budgets for appraising performance in controlling costs, meaning of variable costing, relevant costs of the business and use of methods of quantitative analysis for evaluating capital expenditure decisions by the management.

Besides accounting, the book also focuses on finance; thus it is designed to meet the requirements of finance and accounting. It has been attempt to explain the topics covered in a simple and lucid manner. Both theoretical as well as practical aspects of the subject have been given due importance in the book.


Book Content of Principles & Concepts of Cost Management System
1. Principles and Definitions of Cost Management System
2. Elements of Cost Management System and Its Classification
3. Direct Materials in Cost Management System and Its Control
4. Control of Direct Labour in Cost Management System
5. Methods of Remunerating Labour in Cost Management System
6. Various Expenses Involved in Cost Management System
7. Allocation, Apportionment, and Absorption of Overhead Expenses in Cost Management System
8. Unit or Output Cost Management System
9. Contract and Job Cost Management System
10. Expenses of Various Processes Under Cost Management System
11. The Reconciliation of Cost and Financial Results Under Cost Management System
12. Marginal Costing and Break-even Analysis in Management System
13. Standard Costing and Management System
14. Variance Analysis and Management System
15. Uniform Costing System and Inter-firm Comparisons Under Cost Management System
16. Operating Cost System
17. Budget and Budgetary Control in Cost Management System
18. Return on Capital Employed in Cost Management System
19. Revaluation Accounting System
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Dr. Manmohan Prasad


Himalaya pub