NATURE AND PURPOSE OF COST AND MANAGEMENT ACCOUNTING?
The nature of cost accounting and costing terms
The role of cost accounting in management
The purposes of cost accounting information
Scope of cost accounting
Meaning of management accounting, scope, limitations, applications
Relationship between cost, financial and management accounting
Selection of an ideal cost accounting system
The purposes of cost accounting information
Scope of cost accounting
Installation of Cost Accounts
Selection of an ideal cost accounting system
Meaning of management accounting, scope, limitations, applications
Relationship between cost, financial and management accounting
COST CLASSIFICATION?
Definition and purpose of cost classification
Methods of cost classification: by nature/elements of manufacturing costs; functional classification; behavioural classification; controllability; time; financial accounting; identification with inventory; for decision making
Definition and purpose of cost classification
Methods of cost classification: by nature/elements of manufacturing costs; functional classification; behavioural classification; controllability; time; financial accounting; identification with inventory; for decision making
COST ESTIMATION?
Meaning of cost estimation
Methods of estimating cost; non-mathematical methods like engineering method, accounts analysis method and high-low method; mathematical methods like scatter graph method, OLS regression method (simple linear regression only)
Meaning of cost estimation
Methods of estimating cost; non-mathematical methods like engineering method, accounts analysis method and high-low method; mathematical methods like scatter graph method, OLS regression method (simple linear regression only)
ACCOUNTING FOR MATERIAL, LABOUR AND OVERHEADS?
Accounting for materials and inventory; material cost records, purchasing procedures, receipt and issues of material, methods of valuing material issues, inventory control procedures; economic order quantity (EOQ) and economic batch quantity(EBQ) models and back flush
Accounting for labour: Methods of labour remuneration, labour control procedures, maintenance of labour records
Accounting for overheads: Types of overheads, manufacturing, distribution and administration, service departmental cost allocation and apportionment, overheads analysis, overhead absorption rates, over or under absorption
Accounting for materials and inventory; material cost records, purchasing procedures, receipt and issues of material, methods of valuing material issues, inventory control procedures; economic order quantity (EOQ) and economic batch quantity(EBQ) models and back flush
Accounting for labour: Methods of labour remuneration, labour control procedures, maintenance of labour records
Accounting for overheads: Types of overheads, manufacturing, distribution and administration, service departmental cost allocation and apportionment, overheads analysis, overhead absorption rates, over or under absorption
COST BOOKKEEPING?
The flow of costs in a business enterprise
Cost bookkeeping- interlocking and integrated ledger systems
Cost bookkeeping- interlocking and integrated ledger systems
The flow of costs in a business enterprise
COSTING METHODS?
Job order costing
Batch costing
Process costing (including work in progress; joint and by-products)
Service costing
Unit costing
Job order costing
Batch costing
Process costing (including work in progress; joint and by-products)
Service costing
Unit costing
MARGINAL AND ABSORPTION COSTING?
Distinction between marginal and absorption costing
Valuation of products under marginal and absorption costing
Preparation of marginal and absorption statements; cost of production and profit
determination
Applications of marginal costing: break-even analysis and charts (single product)
Simplified decision problems; accept or reject, special order, dropping a product, make or buy
Operating statements
Distinction between marginal and absorption costing
Valuation of products under marginal and absorption costing
Preparation of marginal and absorption statements; cost of production and profit determination
Applications of marginal costing: break-even analysis and charts (single product)
Simplified decision problems; accept or reject, special order, dropping a product, make or buy
Operating statements
ACTIVITY BASED COSTING?
Meaning of ABC
Types of activities
Overhead absorption rates
Incomes statement
Meaning of ABC
Types of activities
Overhead absorption rates
Incomes statement
BUDGETING AND BUDGETARY CONTROL?
Nature and purposes of budgets
Preparation of budgets; master budgets, functional (department budgets, cash budgets), proforma financial reports (income statements and balance sheets)
Purpose of budgetary control; operation of a budgetary control system, organisation and coordination of the budgeting function
Distinction between budgeting and budgetary control in the private and public sectors
Nature and purposes of budgets
Preparation of budgets; master budgets, functional (department budgets, cash budgets), proforma financial reports (income statements and balance sheets)
Purpose of budgetary control; operation of a budgetary control system, organisation and coordination of the budgeting function
Distinction between budgeting and budgetary control in the private and public sectors
STANDARD COSTING?
Types of standards
Principles of setting standards
Standard cost card
Behavioural aspects of standard costing
Generation of standard cost information
Materials, labour and overheads variances; price ,efficiency mix and yield variances
Types of standards
Principles of setting standards
Standard cost card
Behavioural aspects of standard costing
Generation of standard cost information
Materials, labour and overheads variances; price ,efficiency mix and yield variances
COST MANAGEMENT?
Value chain-research and development; design; production; marketing distribution; customer care
Just in time (JIT)
Use of computers in costing; job costing, inventory management, labour costing, cost entre analysis, coding, budgeting and decision making
Value chain-research and development; design; production; marketing distribution; customer care
Just in time (JIT)
Use of computers in costing; job costing, inventory management, labour costing, cost centre analysis, coding, budgeting and decision making
EMERGING ISSUES AND TRENDS
