Affiliated to the

UNIVERSITY OF MUMBAI

Shri Vile Parle Kelavani Mandal’s

MITHIBAI COLLEGE OF ARTS, CHAUHAN INSTITUTE OF SCIENCE & AMRUTBEN JIVANLAL COLLEGE OF

COMMERCE AND ECONOMICS (TO BE AUTONOMOUS)

NAAC Reaccredited “A” grade, CGPA: 3.57, Granted under FIST-DST & Star College Scheme of DBT, Government of India

Best College, University of Mumbai 2016-17

Program: Bachelor of Commerce

Course: Financial Accounting & Auditing

Credit Based Semester and Grading System (CBSGS) with effect from the academic year 2018-19

TY BCOM FINANCIAL ACCOUNTING & AUDITING

Cost Accounting (Paper X) COURSE CODE: UCFAA606M 4.00 CREDITS

SEMESTER VI (ACADEMIC YEAR 2018-19)

Sr. No. Topics No. of Lectures

Module 1 COST CONTROL ACCOUNTS 08

Module 2 CONTRACT COSTING 09

Module 3 PROCESS COSTING 09

Module 4 INTRODUCTION TO MARGINAL COSTING 10

Module 5 INTRODUCTION TO STANDARD COSTING 10

Module 6 SOME EMERGING CONCEPTS OF COST ACCOUNTING

08

Module 7 PROJECT AND CASE STUDIES 06

Learning Objectives:

To help students understand how the working concepts in Cost

Accountancy can be used in decision making.

To provide a link between cost accounting concept and real world

problems through cases and examples.

Learning Outcomes: Students should be able to-

Understanding of the concepts and conventions of cost accounts. Ability to solve numerical problems based on cost accounting concepts. Analyze and understand practical aspects of cost accounts.

DETAILED SYLLABUS

SEMESTER VI

PREAMBLE-

This course is designed to introduce our students to basic concepts in Accountancy &

Financial Management. The student should be able to understand the relevance of

Accountancy & Financial Management in the real world.

Module – I: COST CONTROL ACCOUNTS 1.Costing Books, Advantage and Disadvantages, Ledgers to be maintained Principal Accounts

2. Job Costing

Module- II: CONTRACT COSTING 1.Progress payments, Retention money, Contract accounts, Accounting for material, Accounting for Tax deducted at source by the contractee, Accounting for plant used in a contract, treatment of profit on incomplete contracts, Contracts profit and Balance sheet entries

2.Excluding Escalation Clause

Module- III: Process Costing 1.Process loss, Abnormal gains and losses, Joint Products and by products

2.Excluding Equivalent units, Inter-process profit Module- IV: Introduction to Managerial Costing 1.Managerial costing meaning, application, advantages, limitations, contribution, Breakeven Analysis and profit volume graph

Module- V: INTRODUCTION TO STANDARD COSTING 1.Various types of standards, setting of standards, Basics concepts of material and Labour variance analysis

Module- VI: SOME EMERGING CONCEPTS OF COST ACCOUNTING 1.Target costing, Life cycle costing, Benchmarking, Activity Based Costing 2. Problems based on Activity Based costing

INTERNAL ASSESSMENT: 25 MARKS

SEMESTER END ASSESSMENT: 75 MARKS

QUESTION PARTICULARS MARKS

1. PRACTICAL QUESTION (COMPULSARY) 15

2., 3., 4., 5. PRACTICAL QUESTIONS(OPT ANY 3 OUT OF 4) (15 MARKS EACH)

45

6. ANSWER THE FOLLOWING (THEORY OR CONCEPT TESTING QUESTIONS)

15

References:

1. Padhuka’s Cost Accounting and Financial Management- A Practical Guide by CA B Saravana Prasath.

2.Cost Accounting by P C Tulsian- the Mc Graw Hill Companies

3.Study Material for Cost Accounting and Financial Management by ICAI