Cost Accounting 1

The course intends to introduce to the students the basic concepts in cost accounting, and enable them to learn the fundamentals of cost accounting as a separate system. It covers different cost concepts followed by accounting and control of material cost, labour costand  overheads. The students will be equipped in preparing the statement of cost and profit and reconcile the disagreements in profits among cost and financial accounts.

CO1: Explain the basic concepts, methods and Techniques of cost accounting.

CO2: Recognize the place of cost accounting in business and management.

CO3: Demonstrate how material and labour costs are accounted.

CO4: Attain problem solving skills in areas of overhead allocation and absorption.

CO5: Understand the concept of cost control with respect to cost elements.

CO6: Prepare cost sheet and reconcile cost accounts with financial accounts.