Contents
1..0 The definition of Cost Accounting
1 .1The objectives of cost accounting
1.2 differences between cost accounting and financial accounting
1.3 The relationship between Cost Accounting and other Accounting Subjects:
1.4 The relationship of cost accounting and other accounting disciplines
1.5 Introduction to Cost Accounting Terminology
1.6 Purpose of Cost Accounting Information
1.7 Role of Cost Accounting In business management
1.8 Design and Operation of Cost and Management Accounting Systems
1.9 The relationship between the nature of the Business Enterprise and Cost Accounting
1.10 Quantitative and Qualitative information in accounting systems
Answers to activities
Cost classification and estimation
2.1 Cost Classification bases
2.2 Importance of cost classification
2.3.1 Manufacturing Vs. Non Manufacturing costs:
2.3.2 Behavioral classification of costs
2.3.3 Functional Classification of costs:
COST ESTIMATION
2.4.1 Purpose of Estimation
2.4.2 Methods of cost estimation
ASSIGNMENT 1
Cost Accumulation
3.1 Material cost classification
3.1.1 Material cost control
3.1.2 Inventory Control and Management
3.1.4 Storage and Issue of Material
3.1.5 Stores location and layout
3.1.6 Stock Level and its control
Answer to activities
LABOUR COSTS
3.3 .1 DEFINITION
3.3.2CLASSIFICATION OF LABOUR COSTS
3.3.4 Time Keeping
3.3.5 Time analysis
3.3.6Methods of Labour Remuneration
3.4.1Time Rate System
3.4.2Piece Rate System
3.3.4Group Bonus Plan
3.4.5Co-ownership incentive scheme (Profit Sharing Schemes)
THE WAGES DEPARTMENT
3.5.1Calculation of deductions
Answers to activities
OVERHEAD COSTS
3.6.1Overhead cost classification and analysis..70
3.6.2 Purposes of overhead cost analysis
3.7 Absorption Costing
3.9 Allocation, and Apportionment of Overhead Costs
3.9.3 Over and under absorption of production overhead costs
Answers to activities
Study Unit Four
4.1.1 Interlocking Cost Accounting System
4.1.2 Required Ledgers.
4.2 Link Between Cost And Financial Books
4.2Reconciliation of profits disclosed by Financial Accounts and Costing Accounts in
an interlocking system
THE NATURE OF INTEGRATED ACCOUNTS
ASSIGNMENT TWO
5.1 Marginal Costing And Absorption Costing
5.6.0 Application of marginal costing
5.6.1 Break-even analysis and break-ever charts
5.7 Cost volume and profit analysis (CVP Analysis)