COST ACCOUNTING – PAPER X

Chpt 1. Cost Control Accounts
Advantages and Disadvantages of Cost Control Accounts, Principal Accounts, Subsidiary Accounts to be Maintained, Practical Problems on Preparation of Cost Control Accounts

Chpt 2. Contract Costing
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, Contract Profit and Balance Sheet Entries (Excluding Escalation Clause), Practical Problems included

Chpt 3. Process Costing
Process Loss, Abnormal Gain and Losses, Joint Products and By-Products (Excluding Equivalent Units), Inter-Process Profits, Practical Problems on Process Costing and Joint and By products

Chpt 4. Introduction to Marginal Costing
Marginal Costing – Meaning, Applications, Advantages, Limitations, Contribution, Break-even Analysis, Margin of Safety and Profit-Volume Graph, Simple Practical Problems Based on Marginal Costing excluding decision-making
Chpt 5. Introduction to Standard Costing
Various Types of Standards, Setting of Standards, Basic Concepts of Material and Labour Variance, Simple Practical Problems Based on Material and Labour Cost Variances excluding Sub-variances

Chpt 6.Some Emerging Concepts of Cost Acccounting
Target Costing, Life Cycle Costing, Bench-marking, Activity Based Costing.

– Model Question Paper