Cost Accounting Key I 2025

Unit – I Introduction of Cost Accounting: Definition-Nature and Scope ? Principles of Cost Accounting ? Cost Accounting and Financial Accounting – Cost Accounting Vs Management Accounting ?Installation of Costing System ?Classification of Costs? Cost Centre? Profit Centre.
Unit – II Cost Sheet and Methods of Costing: Preparation of Cost Sheet – Tenders & Quotations – Reconciliation of Cost and Financial Accounts ?Unit Costing-Job Costing.
Unit – III Material Costing: Material Control ? Meaning and Objectives ? Purchase of Materials ? EOQ ?Stores Records ? Reorder Levels ? ABC Analysis – Issue of Materials ?Methods of Issue ? FIFO ? LIFO ? Base Stock Method ? Specific Price Method ? Simple and Weighted Average Method.
Unit – IV Labour Costing Direct Labour and Indirect Labour ? Time Keeping ? Methods and Calculation of Wage Payments ? Time Wages ? Piece Wages ? Incentives ? Different Methods of Incentive Payments – Idle time?Overtime ? Labour Turnover – Meaning, Causes and Measurement.
Unit – V Overheads Costing Overheads ? Definition ? Classification ? Allocation and Apportionment of Overheads ? Basis of Apportionment ? Primary and Secondary Distribution – Absorption of Overheads ? Methods of absorption Preparation of Overheads Distribution Statement ? Machine Hour Rate ? Computation of Machine Hour Rate.