Fundamentals of Costing BU BBA 4th Semester Notes

Unit 1 [Book]
Meaning and Definition of Cost, Costing	VIEW
Features, Objectives, Functions, Scope, Advantages and Limitations of Cost Accounting	VIEW
Installation of Costing System	VIEW
Essentials of a good Cost Accounting System	VIEW
Difference between Cost Accounting and Financial Accounting	VIEW
Cost Concepts, Classification of Cost	VIEW
Methods and Techniques of Cost Accounting	VIEW
Marginal costing and Absorption Costing	VIEW
List of Cost Accounting Standards (CAS 1 to CAS 24)	VIEW
Classification of Cost	VIEW
Elements of Cost	VIEW
Cost Sheet	VIEW
Presentation of Costing Information in Cost Sheet	VIEW

Unit 2 [Book]
Materials: Meaning, Importance and Types of Materials, Direct and Indirect Material	VIEW
Materials Control	VIEW
Inventory Control	VIEW
Material Storage	VIEW
Techniques of Inventory Control:
Stock Levels	VIEW
Economic Order Quantity (EOQ)	VIEW
ABC Analysis	VIEW
VED Analysis	VIEW
JIT	VIEW
Tender and Quotation making and analysis	VIEW
Procedure for procurement of Materials, Documentation Involved in Materials Accounting, Invoice, Delivery Challans	VIEW
Introduction to E-Procurement, GEM Portal	VIEW
CPP (Central Public Procurement)	VIEW
e-proc.Karnataka.gov.in	VIEW
Debit Note, Credit Note	VIEW
Pricing of Material Issues:	VIEW
FIFO	VIEW
Weighted Average Price and Standard price Methods	VIEW
Duties of Store keeper	VIEW

Unit 3 [Book]
Introduction Employee Cost / Labour Cost, Types of Labour Cost	VIEW
Labour Cost Control	VIEW
Time Keeping, Time Booking	VIEW
Pay roll Procedure	VIEW
Preparation of Pay roll	VIEW
Idle Time, Causes, Treatment of Normal and Abnormal Idle Time	VIEW
Over Time Causes and Treatment	VIEW
Labour Turnover Meaning, Causes	VIEW
Effects and Measures Labour Cost Reporting	VIEW
Methods of Wage Payment: Time Rate System and Piece Rate System	VIEW
Incentive Schemes: Halsey Plan, Rowan Plan	VIEW
Labour Hourly Rate	VIEW
illustrations on Wage Payment methods and Incentive plans	VIEW

Unit 4 [Book]
Introduction, Meaning and Classification of Overheads	VIEW
Accounting and Control of Manufacturing Overheads, Estimation and Collection	VIEW
Cost Allocation	VIEW
Apportionment	VIEW
Re-apportionment	VIEW
Absorption of Manufacturing Overheads	VIEW
Absorption of Service Overheads	VIEW
Treatment of Over and Under absorption of Overheads	VIEW
Methods of Absorption:
Machine Hour Rate	VIEW
Distribution of Overheads	VIEW
Types of Distribution: Primary and Secondary Distribution	VIEW
Repeated & Simultaneous Equation method	VIEW
Reporting of Overhead Costs	VIEW
Statement of Overhead Distribution Summary	VIEW

Unit 5 [Book]
Reasons for differences in Profit /Loss shown by Cost Accounts and Profit/ Loss shown by Financial Accounts	VIEW
Preparation of Reconciliation Statement	VIEW
Memorandum Reconciliation Account	VIEW

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