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CMA - 2016
CMA courses from the best in India.
CMA - 2022
CMA courses tailored to the most recent exam format.
CS
Achieve excellence in all CS papers.
CA
Online classes, video lectures, study material, and more for all levels.
Faculty
CA Abhishek Kaushik
CA Angad Agnihotri
CA Vivek Goel
Prof. Rafi
CA Nitin Rajpal
CA Raghav Goel
Prof. Sanjay Welkins
Prof. H L Gupta
CMA Ujjawal Jain
CMA Rahul Gulati
CA CMA Santosh Kumar
Vinit Kumar
CA Praveen Sharma
Kuldeep Batra
CS Nitesh Kumar Jaiswal
Prof Rohit Sarawagi
CA ANUJ SINGH TOMAR
CS Sweta Chugh
CA CS Hitesh Gera
CS Megha Manchanda Bajaj
Prof Sapna Baid
CA Shivakumar
CA Sreevathson V
Professor Mayank Agarwal
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Video Classes
CMA Foundation
Fundamentals of Economics and Management (Paper-1)
Fundamentals of Accounting (Paper-2)
Fundamentals of Laws and Ethics (Paper-3)
Fundamentals of Business Mathematics and Statistics (Paper-4)
CMA Inter Group 1
Financial Accounting (Paper-5)
Laws and Ethics (Paper-6)
Direct Taxation (Paper-7)
Cost Accounting (Paper-8)
CMA Inter Group 2
Operations Management & Strategic Management (Paper-9)
Operations Management (Paper-9A)
Strategic Management (Paper-9B)
Cost & Management Accounting and Financial Management (Paper-10)
Cost & Management Accounting (Paper-10A)
Financial Management (Paper-10B)
Indirect Taxation (Paper-11)
Company Accounts (Paper-12A)
Audit (Paper-12B)
CMA Final Group 3
Corporate Laws & Compliance (Paper-13)
Strategic Financial Management (SFM) (Paper-14)
Strategic Cost Management - Decision making (Paper-15)
Direct Tax Laws and International Taxation (Paper-16)
CMA Final Group 4
Corporate Financial Reporting (Paper-17)
Indirect Tax Laws and Practice (Paper-18)
Cost and Management Audit (Paper-19)
Strategic Performance Management and Business Valuation (Paper-20)
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Home
Courses
CMA - 2016
CMA courses from the best in India.
CMA - 2022
CMA courses tailored to the most recent exam format.
CS
Achieve excellence in all CS papers.
CA
Online classes, video lectures, study material, and more for all levels.
Faculty
CA Abhishek Kaushik
CA Angad Agnihotri
CA Vivek Goel
Prof. Rafi
CA Nitin Rajpal
CA Raghav Goel
Prof. Sanjay Welkins
Prof. H L Gupta
CMA Ujjawal Jain
CMA Rahul Gulati
CA CMA Santosh Kumar
Vinit Kumar
CA Praveen Sharma
Kuldeep Batra
CS Nitesh Kumar Jaiswal
Prof Rohit Sarawagi
CA ANUJ SINGH TOMAR
CS Sweta Chugh
CA CS Hitesh Gera
CS Megha Manchanda Bajaj
Prof Sapna Baid
CA Shivakumar
CA Sreevathson V
Professor Mayank Agarwal
About Us
Scholarship
Jobs
Login
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Join as a Faculty
Pay Now
CMA
Inter Group 1 - Cost Accounting (Paper-8)
Cost Accounting (Paper-8) CMA Inter Group 1
Taught by Faculties:
Prof. H L Gupta
Cost Accounting (Paper-8)
₹3500 – ₹4500
CMA Rahul Gulati
Cost Accounting (Paper-8)
₹3500 – ₹4500
Syllabus
INTRODUCTION TO COST ACCOUNTING [40 MARKS]
1. Introduction To Cost Accounting
Definition, Scope, objectives and significance of cost accounting, its relationship with financial accounting and management accounting
Cost Objects, Cost centers and Cost Units
Elements of cost
Classification of costs
A.
Cost Ascertainment
- Elements of Cost
1.
Material Costs
Procurement of Materials
Inventory Management and Control
Inventory Accounting & Valuation
Physical Verification, treatment of losses
Scrap, spoilage, defectives and wastage
2
. Employee Costs
Time keeping, Time booking and payroll
Labour Turnover, Overtime and idle time
Principles and methods of remuneration and incentive schemes
Employee cost reporting and measurement of efficiency
3.
Direct Expenses
4.
Overheads
Collection, classification and apportionment and allocation of overheads
Absorption and treatment of over or under absorption of overheads
Reporting of overhead costs
B.
Cost Accounting Standards
(Basic Understanding only) (CAS 1 to CAS 24)
C. Cost Book Keeping
Cost Accounting Records, Ledgers and Cost Statements
Items excluded from cost and normal and abnormal items/cost
Integral accounts
Reconciliation of cost accounting records with financial accounts
Infrastructure, Educational, Healthcare and Port services
METHODS OF COSTING [30 MARKS]
2. Methods of Costing
Job Costing
Batch Costing
Contract Costing
Process Costing – Normal and abnormal losses, equivalent production, Joint and By Products
Operating Costing or Service Costing – Transport, Hotel and Hospital
COST ACCOUNTING TECHNIQUES [30 MARKS]
3. Cost Accounting Techniques (Basic Understanding only)
(A) Marginal Costing
Meaning of Marginal Cost and Marginal Costing
Absorption Costing vs. Marginal Costing
Break-even analysis
Margin of safety
Application of Marginal Costing for decision making (simple problems only)
(B) Standard Costing & Variance Analysis
Concept of standard cost and standard costing
Advantages and limitations
Computation of variance relating to material and labour costs only
(C) Budget and Budgetary Control (simple problems only)
Concepts, Types of Budgets
Budgetary Control vs. Standard Costing
Advantages and limitations
Preparation of Budgets (simple problems only)