This course introduces basic cost accounting that provides information regarding ascertainment of cost per unit of different...
Mode Of Delivery
Module 1: Introduction to Cost and Management Accounting
Meaning, Nature, and Scope of Cost Accounting; Financial Accounting versus Cost Accounting; Limitations of Cost Accounting; General Principles of Cost Accounting; Cost Centre and Cost Unit; Methods of Costing; Techniques of Costing.
Module 2: Elements of Cost
Elements of Cost: Direct Material Cost, Direct Labour Cost and Overheads; Classification of Overheads, Allocation of Overheads versus Apportionment of Overheads; Methods of Re-apportionments of Overheads: Direct Redistribution, Step Distribution, Reciprocal Services Methods.
Module 3: Budgetary Control
Meaning - Budget and Budgetary Control, Objectives, Advantages and Limitations of Budgetary Control, Classification of Budgets, Preparation of Flexible Budget, Sales Budget and Cash Budget.
Module 4: Marginal Costing
Introduction to Marginal Costing, Contribution, P/V ratio, Break Even Point, Angle of Incidence, Margin of Safety, Break Even Chart, Applications of Marginal Costing: Make or Buy, Profit Planning, Dropping a Product, Acceptance of an Oder, Capacity Utilization, Key Factor, Cost Indifferent Point, Alternative Proposals, Price Fixation, Sales Mix, Suspending Activities.
Module 5: Responsibility Accounting and Performance Evaluation
Meaning and Importance of Responsibility Accounting; Responsibility Centres: Cost Centres, Profit Centres and Investment Centres; Evaluation of Cost Centres with Variance Analysis; Evaluation of Profit Centres.
Who Should Attend?
After completing this course and successfully passing the certification examination, the student will be awarded the “Cost and Management Accounting” certification.
If a learner chooses not to take up the examination, they will still get a 'Participation Certificate'.