Table of Content
 

 

Introduction to Cost and Management Accounting

  • Concepts of Cost
  • Costing, Cost Accounting and Cost Accountancy
  • Objectives of Cost Accounting
  • Importance of Cost Accounting
  • Scope of Cost Accounting
  • Classification of Costs
  • Cost Centre and Cost Unit
  • Methods of Costing
  • Techniques of Costing
  • Installation of a Costing System
  • Difference between Financial Accounting and Cost Accounting
  • Difference between Financial Accounting and Management Accounting

Material Cost

  • Inventory Control (Material Control)
  • Objectives of Inventory Control
  • Techniques of Inventory Control
  • Store-Keeping
  • Functions of Store-Keeping
  • Method of Pricing of Material Issues
  • Accounting of Material Losses
  • Control of Material Losses
  • Inventory Management

Labour Cost

  • Introduction to Labour Cost
  • Classification of Labour Cost
  • Accounting and Control of Labour Cost
  • Time Recording
  • Time-Keeping
  • Time Keeping
  • Overtime
  • Idle Time
  • Labour Turnover
  • Labour Remuneration System
  • Basic Methods of Remuneration System
  • Incentive schemes

Direct Expenses and Overheads

  • Direct expenses
  • Indirect expenses
  • Overheads
  • Collection of Overheads
  • Classification of Overheads
  • Allocation and apportionment of overheads (depart-metallization of overheads)
  • Allocation of Overheads
  • Apportionment of Overheads
  • Absorption of overheads
  • Methods of Absorbing Production Overheads
  • Over or Under Absorption Of Overheads
  • Treatment of Factory Overheads
  • Treatment of Administrative Overheads
  • Treatment of Selling And Distribution Overheads
  • Control of Overheads
  • Preparation of Cost Sheet

Activity Based Costing

  • Introduction
  • Meaning of Activity Based Costing
  • Basics of Activity Based Costing
  • Distinction Between Traditional Absorption Costing and Activity Based Costing
  • Objectives of Activity Based Costing
  • Terminology of Activity Based Costing
  • Stages in Developing Activity Based Costing System
  • Different Types of Activities

Cost Records

  • Introduction
  • Non-Integrated Accounting System
  • Advantages of Non-Integrated Accounting
  • Limitations of Non-Integrated Accounting
  • Integrated (Integral) Accounting System
  • Need For Reconciliation
  • Causes of Differences
  • Preparation of Reconciliation Statement or Memorandum Reconciliation Account

Costing Systems

  • Introduction
  • Single/Output/Unit Costing
  • Cost Sheet
  • Job Costing
  • Batch Costing
  • Contract Costing
  • Process Costing
  • Service Costing

Marginal Costing

  • Features of Marginal Costing
  • Advantages of Marginal Costing
  • Limitations of Marginal Costing
  • Break-Even Analysis/Cost-Volume Profit Analysis
  • Uses of Cost-Volume-Profit Analysis
  • Contribution
  • Marginal Cost Equation
  • Profit-Volume Ratio
  • Margin of Safety
  • Methods For Determining Break Even Points
  • Applications of Marginal Costing
  • Composite Break Even Point
  • Absorption Costing
  • System of Profit Reporting

Standard costing

  • Introduction
  • Definition and Meaning
  • Applications of Standard Costing
  • Various Types of Standards
  • Standard Costing System
  • Variance Analysis
  • Material Cost Variances
  • Material Usage Variance
  • Material Mix Variance
  • Materials Yield Variance
  • Overhead Cost Variances
  • Variable Overhead Variance
  • Fixed Overhead Variance

Budget, Budgeting and Budgetary Control

  • Budget
  • Budgeting
  • Budgetary Control
  • Forecast and Budget
  • Zero Base Budgeting

Cost Accounting Records and Cost Audit

  • Cost Audit
  • Purpose of Cost Audit
  • Advantages of Cost Audit
  • Appointment of Cost Auditor
  • Rights and Responsibilities of Cost Auditor
  • Implementing Authorities of Cost Audit
  • Cost Audit Techniques
  • Cost Audit Programme
  • Cost Audit Report

Analysis and Interpretation of Financial Statements

  • Financial Statements
  • Importance of Financial Statements
  • Analysis of Financial Statements
  • Types of Financial Statement Analysis
  • Methods of Analyzing Financial Statements
  • Ratio Analysis
  • Uses of Ratio Analysis
  • Classification of Ratios

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