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Chapter

Fundamentals of Cost Accounting

Fundamentals of Financial and Cost AccountingSection B: Fundamentals of Cost Accounting (30%)30 marks

5 topics

  1. Meaning, Definition, Significance of Cost Accounting, its Relationship with Financial Accounting
  2. Application of Cost Accounting for Business Decisions
  3. Definition of Cost, Cost Centre, Cost Unit and Cost Drivers
  4. Classification of Costs (with reference to Cost Accounting Standard 1)
  5. Ascertainment of Cost and Preparation of Statement of Cost and Profit (Cost Sheet)
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