Unit I
Introduction: Cost and Cost Accounting, Scope, Objectives, Advantages and disadvantages,
Installation of costing system. Differences Between Cost Accounting and Financial Accounting and
Management Accounting, Analysis of Cost – Preparation of cost sheet, estimate, tender and
quotation, Material Control: concepts and techniques, pricing of material issues, Labour control :
labour turnover, idle time, methods of wage payment
Unit II
Overhead control: classification, allocation, apportionment and absorption of overheads, Marginal
Costing: contribution, P/V ration; Break even analysis, margin of safety, application of marginal
costing techniques.
Unit III
Standard Costing and Variance Analysis: material variances, labour variances, Reconciliation of
cost and financial Accounts. Budgetary Control: Meaning, Classification, types of budget
(fundamentals only).
Unit IV
Financial Statement analysis: Meaning, objectives and Techniques including Ratio Analysis.
Cash Flow Statement (as per AS14),