CS Executive Cost and Management Accounting

CS Executive Module 1 - Paper 2 - Cost & Management Accounting

Cost and Management Accounting Complete Video Lecture Package plus book (hard copy) from Elite Concepts, CA Raj K Agrawal

Overview of CS Executive Module 1 - Paper 2 - Cost & Management Accounting

Cost and Management Accounting Complete Video Lecture Package plus book (hard copy) from Elite Concepts, CA Raj K Agrawall consists of top quality video lectures of around 108 hours duration, Hard copy of the popular book from CA Raj K Agrawal is also provided.The full Package along with the required software is delivered on a 16 GB pen drive at your address. The Course is suitable for consumption on Windows PC/Laptop or Android Tablet/Smartphones.

Table of contents

1. Introduction to Cost and Management Accounting

·          Cost Accounting: Evolution, Meaning, Objectives and Scope

·          Concepts of Costs, Classifications and Elements of Cost

·          Cost Centre and Cost Unit

·          Methods and Techniques of Costing

·          Cost Accounting Standards

·          Installation of a Costing System

·          Practical Difficulties in Installing a Costing System

·          Role of Cost Accountant in Decision Making

·          Management Accounting: Evolution, Meaning, Objectives and

Scope

·          Tools and Techniques of Management Accounting

·          Relationship of Cost Accounting, Financial Accounting,

Management Accounting and Financial Management

·          Conflicts in Profit versus Value Maximisation Principle

·          Role of Management Accountant in Decision Making

2. Material Cost

·          Materials Control - Concept and Techniques

·          Procurement Procedures and Documentation: Methods of

Purchasing; Procedure of Purchases, Stores and Issue of

·          Material; Stock Verification

·          Methods of Pricing of Material: FIFO, LIFO, Simple

·          Average, Weighted Average

·          Accounting and Control of Material Losses, Wastage,

·          Scrap, Spoilage and Defectives

·          Inventory Management: Techniques of fixing of minimum,

maximum and reorder levels, Economic Order Quantity, ABC

Analysis; Stock Verification and Perpetual Inventory

3. Labour Cost

·          Meaning and Classification of Labour Costs

·          Accounting and Control of Labour Costs

·          Time Keeping and Time Booking

·          Attendance and Payroll Procedures, Time Recording, Overtime

and Idle Time

·          Labour turnover and Remedial Measures

·          Efficiency Rating Procedures; Remuneration Systems and

·          Incentive Schemes

4. Direct Expenses and Overheads

·          Direct Expenses: Meaning, Nature, Collection, Classification

and Treatment of Direct and Indirect Expenses

·          Overheads: Meaning, Nature, Collection and Classification

Functional Analysis: Factory, Administration, Selling, Distribution,

Research and Development

·          Behavioural Analysis: Fixed, Variable, Semi variable and Step

Cost Allocation, Apportionment, Absorption and Control of

Overheads

·          Preparation of Cost Sheet

5. Activity Based Costing (ABC)

·          Meaning, Importance, Characteristics

·          Elements and Steps involved

·          ABC vs. Traditional Costing

·          Uses and Limitations

6. Cost Records

·          Cost Ledgers - Integrated Accounts and Non-Integrated Accounts

·          Reconciliation of Cost and Financial Accounts

7. Costing Systems

·          Unit and Output Costing

·          Job Costing: Job Cost Cards, Collecting Direct Costs, Allocation

of Overheads and its Applications

·          Batch Costing: Features and Applications

·          Contract Costing: Features, Distinction between Job and Contract

Costing, Progress Payments, Retention Money, Escalation

Clause, Contract Accounts, Accounting for Material, Accounting

for Plant Used in a Contract, Contract Profit and Accounting

Entries

·          Process Costing: Features, Applications and Types of Process

Costing, Process Loss, Abnormal Gains and Losses, Equivalent

Units, Inter-Process Profit, Joint Products, By-Products and

Accounting

·          Service Costing: Features and Applications, Unit Costing and

Multiple Costing, Application, Identification of Cost Unit and Cost

Determination and Control

8. Marginal Costing

·          Meaning, Advantages, Limitations and Applications

·          Breakeven Analysis

·          Cost-Volume Profit Analysis

·          P/V Ratio and its Significance

·          Margin of Safety

·          Absorption Costing: System of Profit Reporting and Stock

·          Valuation

·          Difference between Marginal Costing and Absorption Costing

·          Income Measurement under Marginal Costing and Absorption

·          Costing

9. Standard Costing

·          Definition, Significance and Applications

·          Various Types of Standards

·          Installation of Standard Costing System-for Material, Labour, and

Overhead

·          Variance Analysis for Materials, Labour and Overheads and

Accounting Treatment of Variances

·          Benchmarking for Setting of Standards

·          Variance Reporting to Management

10. Budget, Budgeting and Budgetary Control

·          Budget Concept, Manual

·          Fixed and Flexible Budgets

·          Preparation and Monitoring of Various Types of Budgets

·          Budgetary Control System: Advantages, Limitations and

Installation

·          Zero Base Budgeting

·          Programme and Performance Budgeting

11. Cost Accounting Records and Cost Audit

·          Nature and Scope of Cost Audit

·          Cost Accounting Records and Cost Audit under

Companies Act,1956

·          Purpose, Scope and Advantages of Cost Audit

·          Implementing Authorities of Cost Audit

·          Cost Audit Techniques and Programmes

·          Cost Audit Report

·          Cost Auditor - Appointment, Rights and Responsibilities

12. Analysis and Interpretation of Financial Statements

·          Financial Statements: Nature, Attributes, Objectives, Importance,

Limitations

·          Recent Trends in presenting Financial Statements

·          Financial Statements Analysis: Types, Methods, Objectives,

Limitations

·          Ratio Analysis: Accounting, Uses, Classification, Advantages,

Limitations

·          Cash Flow Statement

·          Fund Flow Statement

·          Difference between Cash Flow and Fund Flow Statement

·         Management Reporting

 

About faculty of CS Executive Module 1 - Paper 2 - Cost & Management Accounting

Raj K Agrawal
Raj K Agrawal, qualified Chartered Accountancy with all India 27th rank in CA Final and all India 29th rank in CA PE-I. He has been consistent school and college topper.He is endowed with the passion of winning as evinced through demonstrated excellence in Academics and Teaching Career. He is Educator of a renowned commerce coaching class in the name of “Elite Concepts” at Varanasi. He has authored several books for professional courses. His primary focus is on enhancing student’s knowledge theoretically and practically as well as focused preparations to ensure success in the examinations and to achieve professional expertise.

About institute

Elite Concepts, Varanasi
Elite Concepts, Varanasi, is founded by CA Raj K Agarwal. Raj K Agrawal, qualified Chartered Accountancy with all India 27th rank in CA Final and all India 29th rank in CA PE-I. He has been consistent school and college topper.He is endowed with the passion of winning as evinced through demonstrated excellence in Academics and Teaching Career. He is Educator of a renowned commerce coaching class in the name of “Elite Concepts” at Varanasi. He has authored several books for professional courses. His primary focus is on enhancing student’s knowledge theoretically and practically as well as focused preparations to ensure success in the examinations and to achieve professional expertise.

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