Cost Accounting Key II 2025

Unit – I Cost Accounting Standards
An Introduction to CAS ? Purpose of CAS ? Advantages of CAS ? Difference between CAS and FAR Regulations ? Different Degrees of CAS Coverage ?Cost Accounting Standards – Responsibility Accounting and Divisional Performance Measurement.
Unit – II Job Costing, Batch Costing and Contract Costing
Definitions- Features- A Comparison – Calculation of Profit on Contracts ? Cost Plus Contract – Preparation of Contract A/c.
Unit – III Process Costing
Process Costing ? Meaning ? Features of Process Costing ? Application of Process Costing ? Fundamental Principles of Process Costing ? Preparation of Process Accounts – Treatment of Loss and Gain: Normal and Abnormal Loss- Abnormal Gain – Concept of Equivalent Production – Joint Products and By Products.
Unit – IV Operation Costing
Operation Costing ? Meaning ? Preparation of Operating Cost Sheet ? Transport Costing ? Power Supply Costing?Hospital Costing? Simple Problems.
Unit V Standard Costing and Variance Analysis
Definition? Objectives? Advantages? Standard Cost and Estimated Cost?Installation of Standard Costing System?Variance Analysis? Material, Labour, Overhead, and Sales Variances ? Calculation of variances.