Cost Accounting : Principles and Practice

Cost Accountancy has the reputation of being hard to learn and hard to teach. It is so probably because it is a highly specialised subject requiring an indepth understanding of its complex concepts and techniques.

This book is an attempt to alleviate this problem by providing the students with thorough grounding in cost concepts, cost behaviour, costing methods and techniques and with an understanding of the uses and limitations of cost data for planning and control and special decisionmaking.

This book gives students a thorough grounding in cost concepts, cost behaviour, and costing methods. The subject matter has been presented in a student-friendly, systematic and intelligible manner. Every discussion involving conceptual difficulties is immediately followed by a numerical example.

A large number of charts and diagrams bring to light finer points of the subject and make it easily comprehensible. The subject matter has been organized on ‘first things first’ basis to sustain the interest of the students. Additional problems and solutions have been included in the Appendix to help students.

A UGC recommended Textbook for various commerce graduate programmes like B.Com, BBA, BBM and BBS. Also useful for CA, CS, ICMA, M.Com and MBA.

The main features of the book are as follows:

1. Ideal for self-study, making learning a painless exercise
2. Examination-oriented approach
3. Around 300 solved problems and illustrations accompanied by ‘working notes’
4. Theoretical, Practical and Objective Type Questions selected mostly from various university and professional examinations

New In This Edition:

• Reworked text for better understanding of the concepts
• Cost Accounting Standards issued by the Institute of Cost Accountants of India
• Learning Objectives in the beginning of each chapter
• Summary and Key Terms at the end of each chapter
• More recent questions from B.Com, BBA, MBA, CA and CS examinations

1. Overview
2. Material Cost
3. Labour Cost (Employee Cost)
4. Overhead Cost
5. Activity Based Costing
6. Output or Unit Costing (Cost Sheet)
7. Job and Batch Costing
8. Contract Costing
9. Process Costing
10. Joint Products and By-Products
11. Operating Costing (Service Costing)
12. Non-Integrated and Integrated Accounts
13. Reconciliation of Cost and Financial Accounts
14. Appendix: Model Test Papers