Paper II: Cost Accounting - B Com Part II Syllabus - Maharaja Ganga Singh University, Bikaner(MGSU, Bikaner)

Unit – I
Introduction: Nature, Objectives, and significance of Cost Accounting. Various cost concepts. Ascertainment and control of cost. Difference between cost, financial and management accounting. Installation of costing system. Elements of cost. Techniques and methods of cost.
Direct Material: Purchase and issue of materials, Economic order quantity and determination of various levels of inventory. Methods of pricing the issuing of material. Selective inventory control techniques – A.B.C. Analysis.
Direct labour: direct labour cost and its control. Time keeping and time booking, methods of wage payment, individual and group bonus plans.
Unit – II
Overhead- Meaning, of overhead, Apportionment and absorption of overhead. Treatment and disposition of under and over recovery. Control of administration selling and distribution overheads. Unit costing.
Unit – III
Contract costing. Process costing (excluding valuation of work in progress).
Unit – IV
Standard Costing: Concepts, Significance and limitations, Analysis of Variances (Material and Labour variances only). Budgeting and budgetary control: Meaning, Objectives, and limitations. Preparation of functional budgets. Sales budget, production budget, material requirement & cost budget, preparation of cost budget.
Unit – V

Marginal Costing & BEP Analysis (Excluding managerial decisions). Reconciliation of cost and financial accounts.

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