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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