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 Unit 5  Scope & functions of management accounting (10M)  Difference between cost, financial & management accounting (10M) Emerging trends in management accounting  **(10M) Unit 4 Budget manual(5M) Budget & budgetary control (10M)  Classification of budgets** (10M) Cash budget(problems)** Flexible budget (problems) ** Principle budget factor(5M) Unit 3 Methods of costing - job & batch costing differences Problems in job costing*, process costing & operating costing- transportation**, electricity  costing * Powerhouse, telecommunication costing * Hotel, hospital costing ,unit costing, batch costing (5M) Unit 2 Elements of cost *** , cost sheet problems  Material purchase procedure Methods of inventory control *** Methods of pricing of issues- LIFO, FIFO, simple average, weighted average problems ** Accounting for labour cost (10M) methods of remuneration ** Unit 1 Reasons, needs,methods of reconciliation** Cost concepts Cost ledger ...
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UNIT 1 (ACMA)

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  Introduction:   Cost : Cost is the amount incurred for the production and distribution of the product. It does not include income tax, interest on capital, preliminary expenses, dividends, goodwill, bad debts, etc.   Cost   Accounting : Recording of cost-related information. Costing : Costing is the method or technique with the help of which cost can be ascertained. Definition: Cost accounting is defined as a system of recording in accounts the materials used and labour employed in the manufacture of a certain commodity/ on a particular job. Objectives of Cost Accounting : The following are the main objectives of Cost Accounting:-  (a) To ascertain the Costs under different situations using different techniques and systems of costing (b) To determine the selling prices under different circumstances  (c) To determine and control efficiency by setting standards for Materials, Labour, and Overheads  (d) To determine the value of closing inventory for pr...
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UNIT - 1 ( ACA)

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 5Q. Methods of inventory control 6Q. Classification of Labour 7Q. Methods of Remuneration 8Q. Overheads 5Q. Methods of inventory control           Material control aims at eliminating and minimizing all kinds of wastes and losses while the materials are being purchased, stored, handled, issued/ consumed. A number of techniques are used in planning, procuring, and holding stages of material which help in exercising and effecting material cost control. Methods: 1. Just in time 2. stock turnover 3. perpetual inventory 4. periodic inventory 5. ABC analysis 6. economic order quantity( EOQ) 1. Just in time:  JIT is a system of inventory management with an approach to having zero inventories in stores. According to this approach, the material should only be purchased when it is actually required for production.  JIT is based on two principles  (i) Produce goods only when it is required and  (ii) the products should be delivered to customers a...
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UNIT-1 INTRODUCTION ( COST ACCOUNTING)

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 SYNOPSIS: ELEMENTS OF COST ( THEORY & PROBLEMS IN COST SHEET) MATERIAL PURCHASE PROCEDURE STORAGE OF MATERIALS ( INCLUDING PROBLEMS) METHODS OF INVENTORY CONTROL METHODS OF PRICING OF ISSUES ( INCLUDING PROBLEMS) LABOUR- CLASSIFICATION & ACCOUNTING FOR LABOUR COST METHODS OF REMUNERATION ( INCLUDING PROBLEMS) OVERHEADS-MEANING, CLASSIFICATION, ALLOCATION, APPORTIONMENT AND ABSORPTION ( INCLUDING PROBLEMS) Introduction:   Cost : Cost is the amount incurred for the production and distribution of the product. It does not include income tax, interest on capital, preliminary expenses, dividends, goodwill, bad debts etc.   Cost Accounting : Recording of cost-related information. Costing : Costing is the method or technique with the help of which cost can be ascertained. Definition: Cost accounting is defined as a system of recording in accounts the materials used and labour employed in the manufacture of a certain commodity/ on a particular job. Objectives : Ascertain...
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