Cost Accounting

MBA – III
DBA – 521

1. The Management Concept and the Function of the Controller

–  The Management Concept
– The Controller’s Participation in Planning and Control
– The Cost Department
– The Role of Cost Accounting
–  Certification and Ethics
– The Influence of Private and Government Organizations

2. Cost Concept and the Cost Accounting Information System

– The Cost Concept
– The Cost Accounting Information System
–  Classification of Costs
– The flow of Costs in a Manufacturing Enterprise
– Reporting the Results of Operations

3. Job Order Costing

– Cost Systems and Cost Accumulation Procedure
– Job order Costing

4. Process Costing: Cost of Production Report

– Process Cost Accumulation Procedures
– Other Factor in Accounting for Lost Units
– Addition of Materials

5. Process Costing: Average and FIFO Costing

–  Beginning Work in Process Inventories
– Difficulties Encountered in Process Cost Accounting Procedures

6. Materials: Controlling and Costing

– Procedures for Materials Procurement and Use
– Materials Costing Methods
– Transfer of Material Cost to Finished Product
– Inventory Valuation at Cost or Market, Whichever is Lower
–  Inventory Pricing and interim Financial Reporting
–  Costing Procedures for Scrap, Spoiled Goods and Defective Work
–   Summary of Materials Management

7. Materials: Quantitative Models for Planning and Control

– Planning Materials Requirements
– Material Control

8. Labor: Controlling and Accounting for Costs

– Productivity and Labor Costs
– Incentive Wage Plans
– Organization for Labor Cost Accounting and Control
– Labor Performance Reports

9. Factory Overhead: Planned, Actual and Applied: Variance Analysis

– The Nature of Factory Overhead
– The use of a Predetermined Factory Overhead Rates
– Factors to be Considered in the Selection of Overhead Rates
– The Calculation of a Factory Overhead Rate
– Actual Factory Overhead or Under Applied and Variance
– Analysis
– Changing Overhead Rates
–  Summary of Factory Overhead

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