Objective: The objective of the paper is to acquaint the students with the various methods of
cost determination and tools and techniques of cost control.
UNIT – I
Cost Management: Need Significance and Different Areas of Cost Management and Application. Methods of Cost Determination: Job Costing, Batch Costing, Contract Costing, Uniform
Costing and Inter Firm Costing, Process Costing (including joint and by-products).
Contemporary Concepts: Activity Based Costing, Target Costing, Life Cycle Costing, Value
Chain Analysis.
UNIT – II
Techniques for Cost Control:
Marginal Costing, Cost, Volume; Profit Analysis and Decision Making; Differential Costing and Absorption Costing.
Budgeting and Budgetary Control: Concepts, Objectives, Limitations, Types of Budgets, Zero Base Budgeting.
Standard Costing, Analysis of Variance.
Practical Work:
Use of software package to obtain cost accounting output like: Fixed and Variable Cost, Break
Even Point, P/V Analysis, Preparation of budgets.