♦ Costing Accounting: Meaning, Objectives, Scope, Advantages, Limitations

♦ Cost Concepts and Classifications: By Nature: Material, Labour, Expenses, By Function: Production, Administration, Selling and Distribution, By Behaviour : Fixed, Variable, Semi-Variable

♦ Difference Between: Cost Accounting and Financial Accounting, Cost Accounting and Management Accounting

♦ Elements of Cost, Cost Sheet Concept, Tender and Quotation Pricing

♦ Material Cost: Meaning and Importance, Types of Material Costing, Material Procurement Procedure

♦ Material Control: Concept, Objectives, Requisites of Good Material Control System, EOQ – Concept (Simple Problems), Re-order Level

♦ Methods of Pricing Material Issues: FIFO, LIFO, Simple and Weighted Average (Simple Problems)

♦ Treatment of Material Losses: Normal Loss, Abnormal Loss

♦ Labour and Overheads Costing: Time Keeping and Time Booking Meaning and Importance, Idle Time and Overtime

♦ Methods of Remuneration Systems: Time and Piece Rate System, Meaning and Principles of Incentive Schemes (Halsey, Rowan, Taylor – Basic Level) – (Simple Problems on Schemes)

♦ Overheads: Meaning of Allocation, Apportionment and Absorption of Overhead – Concept

♦ Methods of Absorption: Percentage Method, Machine Hour Rate, Over/Under Absorption of Overheads, Concept of Break Even Analysis

♦ Classification of Costs, Cost of Sales, Cost Centre

♦ Cost Unit, Profit Centre and Investment Centre

♦ Cost Sheet, Total Costs and Unit Costs, Different Costs for Different Purpose

♦ Simple Practical Problems on Preparation of Cost Sheet