Cost and Management Accounting syllabus

Cost and Management Accounting

• 1 Conceptual Foundation (4 LHs)

  • Cost and Management Accounting: Meaning, Objectives, and Scope
  • Differences from Financial Accounting
  • Cost Concepts and Classification
  • Cost Segregation Methods
• 2 Accounting for Materials (3 LHs)

  • Materials and Inventory
  • Inventory Control Techniques
  • Economic Order Quantity
  • Inventory Stock Levels
• 3 Accounting for Labour Cost (3 LHs)

  • Labour Cost and Control
  • Incentive Wage Plans
• 4 Accounting for Overhead Cost (4 LHs)

  • Meaning, Classification, and Importance of Overhead
  • Allocation, Apportionment, and Absorption
• 5 Accounting for Profit Planning (8 LHs)

  • Absorption Costing and Income Statement
  • Variable Costing and Income Statement
  • Reconciliation of Absorption and Variable Costing
  • Cost Volume Profit and Contribution Margin Analysis
  • Break-even Analysis
• 6 Standard Costing (4 LHs)

  • Standard Costing System
  • Material Cost Variances
  • Labour Cost Variances
• 7 Flexible Budgeting (4 LHs)

  • Concept and Importance of Flexible Budgeting
  • Flexible Budget for Overhead Control and Activity Levels
  • Overhead Cost Variances
• 8 Budgeting and Profit Planning (12 LHs)

  • Concept and Objectives of Budget
  • Sales, Production, Purchase, Labour, and Overhead Budgets
  • Cash Collection and Disbursement Budget
  • Budgeted Income Statement and Balance Sheet
• 9 Accounting for Alternative Choices for Decision Making (6 LHs)

  • Concept and Types of Decision Making
  • Make or Buy
  • Drop or Continue
  • Accept or Reject a Special Offer
  • Sell or Further Process