Cost in addition to management accounting
Course objectives:
The objective of the course of teaching are too provides alongside in-depth cognition of cost in addition to management accounting inwards lodge to enable them the develop, adapt in addition to assort cost data required for decision-making, lucre maximizing systems blueprint in addition to control.
The course of teaching farther aims at developing a audio base of operations for higher report inwards accounting every bit good inwards practical cognition required yesteryear the middle degree managers to handles cost data independently.
Conceptual foundation
Cost accounting: meaning, objective, advantaged in addition to limitations
Management accounting: meaning, objective in addition to reach of management accounting, limitations of fiscal accounts, departure betwixt cost in addition to management accounting, advantages in addition to limitations of management accounting.
Cost concept in addition to classification of cost: cost classification: classification according to chemical cistron of cost, functional classification, behaviors classification, cost segregating in addition to method of segregation of cost: ii indicate methods in addition to to the lowest degree foursquare method. classification for decision-making: relevant in addition to irrelevant cost, avoidable in addition to unavoidable cost, chance cost, marginal cost, differential in addition to incremental cost, controllable in addition to uncontrollable cost.
Accounting for inventory management in addition to control
Reason in addition to objectives for asset inventory
Inventory levels: re-order point, maximum level, minimum level, danger level, average stocks level, security stock nether certainty, ii bin system
Just inwards fourth dimension inventory: concept, advantages in addition to limitations
Economic lodge quantity: model yesteryear using formula yesteryear lawsuit in addition to mistake approach including cash discount.
Inventory command organization design: buy procedures in addition to control, buy requisition, buy order, materials receiving in addition to handling.
Perpetual inventory system: (two bin card) in addition to stock command through ABC analysis.
Accounting for labour
Labour cost: concept in addition to types of wage, forthwith reward in addition to indirect wages, slice wage in addition to fourth dimension wages, fringe benefits in addition to salary inwards lieu of profit, allowances,
Accounting for pay roll, preparation of pay curlicue sheet.
Accounting for premium plan: premium bonus scheme- hales computer programme in addition to rowan plan, tailor's unlike cost charge per unit of measurement system, in addition to Gantt's labor in addition to bonus scheme.
Group bonus scheme: pressman's plan, in addition to Scallion's plan
Accounting handling of idle time-normal in addition to abnormal
Labour turnover: effort in addition to effects, cost of labour turnover, labour turnover cost measure leaving cost, replacement cost, preparation in addition to leaning cost.
Accounting for overhead cost
Overhead cost: pregnant in addition to classification of overhead cost
Accounting for overhead allocation, apportionment in addition to absorption
Overhead allotment in addition to apportionment: meaning, soil for apportionment
Apportionment of overhead: master copy distribution, unlike betwixt allotment in addition to apportionment of overhead.
Overhead cost absorption: meaning, method of absorption of overhead
Activity cost based costing (ABC): concept, limitation of traditional overhead cost absorption systems, allotment of overhead cost on activeness based costing systems, allotment of overhead cost of soil of ABC system, determination of full cost in addition to lucre nether traditional in addition to ABC system, profitability analysis, activities based profitability analysis, limitations of activeness based costing system.
Costing inwards departure situations
Job lodge costing: concept in addition to accounting for labor lodge costing
Contact costing: concept, preparation of contract tee's account. Work inwards progress account, contract account, handling of flora inwards contact account, preparation of residual sheet.
Service costing: concept in addition to reach of operating costing, unit of measurement of output costing inwards populace sector. Transport service costing, hotel in addition to eating seat service costing in addition to infirmary service costing, limitation of service costing.
Process costing: concept in addition to uses, accounting for physical care for account, physical care for loss in addition to accounting for loss, normal loss in addition to abnormal loss, abnormal effective or abnormal gain, inter physical care for lucre calculation, reserved for unrealized profit.
Break-even analysis: nether constant underlying situations excluding multi-product modify on selling price, modify on margin of safety
Cost accounting for planning in addition to control
Responsibility accounting: Definition of cost center, identification or responsibleness in addition to cost center, cost command ledgers, link betwixt fiscal in addition to cost books.
Reconciliation of lucre betwixt fiscal in addition to cost account.
Standard costing: concept, preliminaries to established criterion costing, departure betwixt criterion in addition to budget, advantages in addition to limitations'.
Variance analysis:
Martial variance: cost, price, usage, mix in addition to yield variance
Labour variance: cost, efficiency, rate, mix, idle fourth dimension in addition to yield variance
Budgeting for planning: concept in addition to importance of budget.
Types of budget: sales budget, fabric consumption in addition to buy budget, production budget, labour budget, overhead budget: manufacturing, administrative, selling in addition to distribution, cash budget.
Flexible budgeting: concept in addition to limitation of planning (static budget), importance of flexible budgeting, preparation of flexible budgeting for overhead cost control.
Overhead cost variance: capacity, effective in addition to spending variances
Cost reduction
Cost reduction: concept, advantages in addition to techniques, tools in addition to techniques for cost reduction
Value technology scientific discipline (analysis): concept, objective, importance, advances in addition to techniques of value analysis.
Value added: concept of value added in addition to preparation in addition to sees of added statement.
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