Curriculum
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.
Learning Outcomes
Who Should Attend?
Job Prospects
Certification
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'.