Course Contents
1. Review of Job Order and Process Costing System, Historical or Standard Costing.
2. Costing of joint and By Products, Difficulties in Costing By-Products, Joint cost and Separable Cost, Methods of Allocating joint Costs,
Methods of Costing.
3. Budgeting and Budgetary Control: Budgeting for Manufacturing Concerns, Cash Budget, Purchase Budget, Sales Budget, expense Budget,
Material/Labor/FOH Budget, Master Budget.
4. Non Manufacturing Concerns and Non Profit Organizations: Capital Expenditure Budget, Forecasted Income Statement, Forecasted
Balance Sheet.
5. Direct Costing and the Contribution Margin The Nature of Absorption Costing, Direct Costing , Comparison of Absorption Costing With
Direct Costing.
6. Break Even Analysis, Profit Variance Analysis, PERT/CPM Sources of Data for Break-Even-Analysis, Constructing a Break Even Chart, and
its Alternate, Effect of Changes in Fixed Costs on Bread-Even Point, Sales Mix on Bread-Even Point, Unit Cost Formulas, Margin of Safety,
Dynamic Profit Charging, Applying Cost –Volume-Profit Analysis.
7. Cost of Production Report, Use of FIFO and Costing Method, Production Budget, Flexible Budget and Zero Based Budget, Gorss Profit
analysis, FOH Departmentalization.
FINAL TERM PROJECT: The students are required to make proper feasibility report. Students should have to propose a new feasibility plan for new business startup. Project should be based on application of complete feasibility plan process. This project should incorporate following contents:
1. Creative and Interesting Title of Business
2. Introduction (Mission, Vision, Aim of Business)
3. Complete Hierarchical Structure
4. Budgeted Forecast
5. Budgeted Cost of Goods Sold Statement
6. Budgeted Income Statement
7. Budgeted Balance Sheet
8. Notes to the Accounts
Note: Students should have to make real time business set up. Students will work in group but the marks will be assigned based on personal effort and presentation skills by individual student.
Course Synopsis
The course objective is to provide the students in-depth knowledge of Cost and Management Accounting Systems. Advanced Theoretical Knowledge is also made the part of the course like Activity based costing, Process Costing, Efficient cost control through use of Budgeting techniques, and Standard Costing etc. that will enable the student to understand the working and report formation of manufacturing concern keeping in view each element of cost.
Course Learning Outcomes
By the closing stages of this course students will be able to:
• Make a comparative review of Job and Process Costing System.
• Differentiate between Costing of joint and by Products and Difficulties in Costing By-Products.
• Perform simple file maintenance on chart of accounts.
• Use Accounting System and Accounting Reports.
• Handle advanced costing methods and techniques with full skills.
Decision Making & Costing-IV
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Cost of Production Report (W.I.P Opening Inventory)
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Cost of Production Report (W.I.P Opening Inventory) Contd.
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Accounting for Losses
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Costing of Joint & By Products
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Costing of Joint & By Products (Contd.)
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Absorption & Marginal Costing
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Absorption & Marginal Costing (Contd.)
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Cost Volume Profit Analysis
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Break-Even Analysis
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Break-Even Analysis (Contd.)
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Break-Even (Charts & Graphs)
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Budget and Budgetary control
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Sales Budget
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Production & Material Budget
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Direct Labor & Factory Overheads Budget
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Operational Expense Budget & Income Statement
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Cash Budget
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Flexible Budget
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Zero Based Budgeting
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Decision Making & Costing
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Decision Making & Costing-I
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Decision Making & Costing-II
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Decision Making & Costing-III
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Book Title : Cost and Management Accounting
Author : Prof. Nisaruddin
Edition : Latest Edition
Publisher : National Publishing Corporation
Title : Cost of Production Report (W.I.P Opening Inventory)
Type : Presentation
View Cost of Production Report (W.I.P Opening Inventory)
Title : Cost of Production Report (W.I.P Opening Inventory) Contd.
Type : Presentation
View Cost of Production Report (W.I.P Opening Inventory) Contd.
Title : Cost of Joint and By-Products
Type : Presentation
View Cost of Joint and By-Products
Title : Costing of Joint and By-Products (Contd.)
Type : Presentation
View Costing of Joint and By-Products (Contd.)
Title : Absorption & Marginal Costing
Type : Presentation
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Title : Absorption & Marginal Costing (Contd.)
Type : Presentation
View Absorption & Marginal Costing (Contd.)
Title : Cost Volume Profit Analysis
Type : Presentation
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Title : Break Even Analysis
Type : Presentation
View Break Even Analysis
Title : Break Even Analysis (Contd.)
Type : Presentation
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Title : Break Even Chart & Graphs
Type : Presentation
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Title : Budgeting
Type : Presentation
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Title : Sales Budget
Type : Presentation
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Title : Production & Material Budget
Type : Presentation
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Title : Direct Labor & FoH Budget
Type : Presentation
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Title : Budgeted Income Statement
Type : Presentation
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Title : Cash Budget
Type : Presentation
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Title : Flexible Budget
Type : Presentation
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Title : Zero Based Budgeting
Type : Presentation
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Title : Decision Making & Costing
Type : Presentation
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Title : Decision Making & Costing-I
Type : Presentation
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Title : Decision Making & Costing-II
Type : Presentation
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Title : Decision Making & Costing-III
Type : Presentation
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Title : Decision Making & Costing-IV
Type : Presentation
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