Cost & Management Accounting-III B.S. Raman
COST AND MANAGEMENT ACCOUNTING – III
Chapter I : Job and Batch Costing:
Nature, Purpose and Procedure of Job Costing, Advantages and Limitations.
Chapter II : Contract Costing:
Features of Contract Costing, Types of Contracts, Cost plus Contract, Escalation and Deescalation clause, recording of value and profit on contract.
Chapter III : Process Costing :
Meaning – Difference between Job Costing and Process Costing, Problems on Process Costing with Process losses and without process losses-Normal loss, Abnormal loss and Abnormal gain, Inter-Process Transfer at Profit-only Theory.
Chapter IV : Joint Products and By-Products:
Meaning of Joint Products and By-products, Accounting for Joint Products. Apportionment by Physical Measurement, Appor tionment on Market Value at Separation Point. Apportionment on Market Value after further processing.
Chapter V : Accounting for By-Products:
Non-Cost and Sales Values Methods, Other Income Method, Total Sales Method and Net Cost Method and Problems. Cost Methods; Opportunity Cost Method, Standard Cost Method and Joint Cost Method.
Chapter VI : Operating Costing:
Meaning, features, Cost Unit, Operating Cost Statement, Problems on transport costing only.