Lanterna Rally

Author: Dr. R. N. Khandelwal

Publisher: SBPD Publications

Published: 2021-06-29

Total Pages: 872

ISBN-13: 9351672158

An excellent book for commerce students appearing in competitive, professional and other examinations. CONTENTS Cost Accounting 1. Cost Accounting : Meaning, Nature, Scope and Importance, 2. Cost : Concept, Elements and Classification, 3. Material’s Control and Valuation, 4. Labour Cost Control, 5. Expenses/Overhead, 6. Overhead : Collection, Allocation, Apportionment and Absorption (Including Machine-hour Rate), 7. Single or Unit or Output Costing, 8. Calculation of Quotation, Estimates Or Tender Price, 9. Job, Batch and Contract Costing, 10 . Process Costing, 11. Reconciliation of Cost and Financial Accounts, 12 . Cost Audit, 13. Operating Costing Auditing 1. Introduction, 2. Objects, Advantages and Limitations of Auditing, 3. Types or Classification of Audit, 4. Audit Process and Programme, 5. Internal Control and Internal Check, 6. Vouching, 7. Verification of Assets and Liabilities, 8. Valuation of Assets and Liabilities. SYLLABUS COST ACCOUNTING I. Introduction : Nature and scope of cost accounting, Cost concepts and classification, Methods and techniques, Installation of costing system. II. Accounting for Material : Concept pricing of material issues, Treatment of material losses. III. Accounting for Labour : Labour cost control procedure, Labour turnover, Idle time and overtime, Methods of wage payment—time and piece rates, Incentive schemes. IV. Accounting for overheads : A brief introduction of allocation apportionment, overheads, Determination of overhead rates. V. Cost Ascertainment : Unit costing, Job, batch and contract costing, Operating costing, Process costing—excluding interprocess profites and joint and by-products. AUDITING I. Introduction : Meaning, Importance, Objectives of auditing, Types of audit. II. Audit Process : Audit programme, Basic principles, Governing an audit, Evidence in Auditing, Working papers, Routine checking and test checking. III. Internal Check : Meaning, Essentials of an Efficient system of Internal check, Internal check system regarding cash sales and credit sales, Cash purchase and credit purchase, wage payment. IV. Vouching meaning : Importance, Types of vouchers, Vouching of cash purchase, Credit purchase, Cash sales. Credit sales, wage payments, Purchase of fixed assets. V. Valuation and verification of assets & liabilities.