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Principles of Cost Accounting

This document provides information about a course on Principles of Cost Accounting for the II Year B.Tech. Food Tech. I-Semester program at VFSTR University. The course aims to teach students the fundamentals of cost accounting and how it is important for understanding cost ascertainment, profitability, cost classification, and cost control in the food industry. The course outcomes are that students will understand basics of cost accounting, cost sheets, different payment methods, and classifications of overheads. The course is divided into 5 units covering introduction to cost accounting, stock and cost sheets, material and costing methods, labor costing methods, and an introduction to overheads.

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Vaibhav Bhatia
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193 views

Principles of Cost Accounting

This document provides information about a course on Principles of Cost Accounting for the II Year B.Tech. Food Tech. I-Semester program at VFSTR University. The course aims to teach students the fundamentals of cost accounting and how it is important for understanding cost ascertainment, profitability, cost classification, and cost control in the food industry. The course outcomes are that students will understand basics of cost accounting, cost sheets, different payment methods, and classifications of overheads. The course is divided into 5 units covering introduction to cost accounting, stock and cost sheets, material and costing methods, labor costing methods, and an introduction to overheads.

Uploaded by

Vaibhav Bhatia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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VFSTR UNIVERSITY

3. Dr. Ling HD. Belity, Dr.Ing, W.Grach 1987, Food Chemistry -


Spirigerverl, New York.
4. Eeskin - herdersonFood Biochemistry - Town send.
5. R. Marceladikllor, Food Chemistry - Fenema, London.
6. Meyer. Food Chemistry - Food Chemistry - HARRY H. SISLER, Calvin
: A Vander werf.
7. BravermanIntroduction to the Biochemistry of Foods - Elsevier
Scientific Publishing Company
8. Sadasisivam - Biochemical Methods

II Year B.Tech. Foof Tech. I-Semester L T P To C


4 0 - 4 4

PRINCIPLES OF COST ACCOUNTING

Course Description & Objectives:


This course willenable the students to imbibe the fundamentals of cost
accounting.
By the end of the course the students will be able to understand concerned
with Ascertainment of Cost, Ascertainment of Profitability, Classification of
Cost and Control of Cost that play very important role in running food industry.

Course Outcomes:
1. After completion of this course students will be able to understand .
2. Basics of cost accounting, its scope and objective.
3. Treatment of stock practical problems on cost sheets..
4. Differential Piece rate system, Tailor’s differential piece rate, Halsey and
Rowan Plan, Labour Productivity.
5. Overheads and its importance, classification

UNIT I - Introduction to cost accounting


Introduction, Evolution and Definition of Cost Accounting, Scope, Objectives
and Functions of Cost Accounting, Cost concept and cost classification.
Purchase procedure, material issue, operating and transport cost.

40 Food Technology
VFSTR UNIVERSITY

UNIT II - Stock and cost sheet


Elements of Cost, Treatment of Stock, Stock of Raw Materials, Stock of Work-
in Progress, Stock of Finished Goods, Practical Problems on Cost Sheet

UNIT III- Material and costing


Material Cost- purchase procedure, fixation of stock levels, store keeping,
pricing of material issue (FIFO and LIFO only), methods of costing (operating
costing-transport only)

UNIT IV- Labour cost


Labour cost- Remuneration methods, time wage payments, payments,
payment by results, differential Piece rate system, Tailor’s differential piece
rate, Halsey and Rowan Plan, Labour Productivity.

UNIT V- Introduction to overhead


Overheads: Definition of Overheads, Importance of Overhead, Classifications
of Overhead, Machine hour rate

TEXTBOOKS:
1. Cost Accounting: Method & Problems-B.K.Bhar, Academic Publishers
2. Cost Accounting-A Managerial Emphasis, Horngren, Foster & Dater,
Prentice Hall.

REFERANCE BOOKS:
1. A Text Book of Cost Accountancy-M.N.Arora, Vikas Publishing Pvt.,
Ltd.
2. Cost Accounting- N.K.Prasad&A.K.Prasad, Book Syndicate.
3. Principles and Practice of Cost Accounting- Asish Bhattacharya,
Sultan Chand.
4. Fundamental Managerial Accounting Concept- Edmonds, Edmonds
AndTsay, Irwin McGraw Hill.
5. Cost Accounting – Theory and Practices-Bhabatosh Banerjee, Sultan
Chand & Sons.

Food Technology 41

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