Ascertainment of Cost and Cost Accounting System

28 topics

1. Material Cost: Introduction to procurement procedures
2. Material Cost: Valuation of receipts, issue and closing stock of Material, Stock verification
3. Material Cost: Material requirement analysis through digital costing including Government e-Marketplace (GeM)
4. Material Cost: Introduction to Costing through Enterprise Resource Planning (ERP)
5. Material Cost: Process of tender and quotation
6. Material Cost: Inventory control: Techniques of fixing level of stocks- minimum, maximum, re-order point, safety stock, determination of optimum stock level
7. Material Cost: Inventory control: Determination of Optimum Order quantity- Economic Order Quantity (EOQ)
8. Inventory control: Techniques of Inventory control- ABC Analysis, Fast, Slow moving and Non moving (FSN), High, Medium, Low (HML), Vital, Essential, Desirable (VED), Just-in-Time (JIT)- Stock taking and perpetual inventory system
9. Material Cost: Inventory control: use of inventory control ratios, Digital Inventory control
10. Material Cost: Treatment of Normal/Abnormal Losses w.r.t. waste, scrap, spoilage, defective, obsolescence
11. Employee Cost: Introduction to Attendance and Payroll procedures
12. Employee Cost: Elements of wages- Basic pay, Dearness Allowance, Overtime, Bonus, Holiday and leave wages, Allowances and perquisites
13. Employee Cost: Employee Cost Control
14. Employee Cost: Employee Turnover- Methods of calculating employee turnover, causes of employee turnover, effects of employee turnover
15. Employee Cost: Remuneration systems and incentive schemes- Premium Bonus Method (Halsey Plan and Rowan Plan)
16. Direct Expenses: Identification of direct expenses with the main product or service and its treatment
17. Overheads: Functional analysis- Factory, Administration, Selling, Distribution, Research and Development
18. Overheads: Behavioral analysis- Fixed, Variable and Semi-Variable
19. Overheads: Allocation and Apportionment of overheads using Absorption Costing Method
20. Overheads: Factory Overheads- Primary and secondary distribution
21. Overheads: Administration Overheads- Method of allocation to cost centres or products
22. Overheads: Selling & Distribution Overheads- Analysis and absorption of the expenses in products/ customers, impact of marketing strategies, cost effectiveness of various methods of sales promotion
23. Overheads: Treatment of Research and development cost in cost accounting
24. Concepts of Activity Based Costing (ABC)
25. Integration of cost and financial data: Recording of financial data and its segregation
26. Integration of cost and financial data: Introduction to Non-integrated and Integrated Accounting system
27. Integration of cost and financial data: Items included in cost accounts only but financial accounts and vice versa
28. Integration of cost and financial data: Reconciliation of profit as per Cost and Financial Accounts (under Non-Integrated Accounting System)