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Basics of Costing
21 Lessons-
StartWhy Costing is required ?
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StartUnderstanding of the Term- Cost, Costing and Cost Management
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StartObjective of Costing
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StartDifference between Cost Control and Cost Reduction
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StartEssential of Good Cost Accounting System
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StartFactors to be considered before Installation of Costing System
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StartCost Objects
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StartCost Drivers
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StartResponsibility Centres
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StartCost Units
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StartLimitation of Cost Accounting
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StartClassification of Costs - Nature or Element
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StartClassification of Costs - Functions
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StartClassification of Costs -Variability and Behaviour
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StartClassification of Costs -Controllability
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StartClassification of Costs -Normality
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StartClassification of Costs -Time Costs
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StartClassification of Costs -Behaviour
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StartClassification of Costs -Committed Fixed Cost and Discretionary Fixed Cost
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StartOpportunity Costs
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StartComprehensive Cost Sheet
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Material Costing
24 Lessons-
StartMaterial Analysis Introduction and importance of recording
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StartObjectives of Material Cost Control
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StartRequirement of Material Cost Control
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StartElements of Material Cost Control
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StartTechniques of Material Cost Control
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StartDecision making in purchase departments
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StartMaterial Purchase Procedures
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StartJust in Time
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StartABC Analysis Summary
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StartABC Analysis Detailed
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StartABC Analysis Example
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StartValuation of Material Received
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StartBIN Cards
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StartStock Control Cards
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StartStock Ledger
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StartDifference between BIN cards and Stock Ledger
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StartTechniques of Inventory Control
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StartRe order Quantity
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StartAssumptions for EOQ
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StartRe order Level
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StartTWO BINS Systems
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StartEstablishment of systems of Budgets
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StartPerpetual Records and continuous stock taking
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StartSlow and Non moving items and Control Ratios
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Labour Costing
20 Lessons-
StartWhat is Labour Cost , Direct Labour Cost and Indirect Labour Cost
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StartLabour Cost Control
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StartDepartment for Labour cost control
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StartImportant factors in controlling Labour Cost
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StartCollection of Labour Cost
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StartAttendance & Payroll Procedure (time Keeping)
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StartMethod of Time Keeping
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StartRequisites of Good Time Keeping System
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StartTime Booking
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StartObjectives of Time Keeping and Time Booking
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StartPayroll Procedures
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StartIdle Time
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StartOvertime Premium
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StartEffects of overtime on Productivity
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StartSteps for controlling overtime
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StartLabour Turnover
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StartLabour Turnover due to New Recruitment
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StartCauses of Labour Turnover
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StartEffects of Labour Turnover
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StartRemedial steps to minimise the labour turnover
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Overhead Costing
23 Lessons-
StartWhat is Overhead cost and Classifciation
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StartOverhead by Function
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StartOverhead by Nature
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StartOverhead by Element
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StartOverhead by Controllability
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StartAdvantages of classification of overhead into Fixed and Variable
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StartSteps involved in estimating and absorbing manufacturing overheads
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StartAccounting and Control of manufacturing overheads
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StartDifference between allocations and apportionment
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StartMethod of apportionment of common expenses
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StartBasis of apportionment of overheads to various department
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StartRe apportionment of Service Department overheads
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StartDirect Distribution Method
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StartStep Method
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StartSimultaneous Equation Method
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StartReciprocal Service Method
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StartMethods of absorbing overheads to various products or jobs
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StartDirect Material cost & Prime Cost Method
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StartDirect Labour Cost Method
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StartLabour Hour Rate Method
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StartMachine Hour Rate Method
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StartTypes of Overhead Rates
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StartTreatment of Under & Over absorbed Overheads
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Standard Costing
13 Lessons-
StartWhy Standard Costing ?
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StartWhat is Standard Costing ?
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StartSetting up of Standard Cost
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StartPhysical Standards
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StartMaterial Quantity Standards
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StartLabour Time Standards
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StartOverhead Standards
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StartProblems faced while setting physical standards
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StartTypes of Standards
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StartNeed for Standard Cost
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StartAdvantages of Standard Costing
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StartProcess of Standard Costing
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StartTypes of Variances
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Standard Costing Variances
20 Lessons-
StartIntroduction to Standard Costing Variance
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StartMaterial Cost Variance
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StartMaterial Price Variance
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StartMaterial Usage Variance
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StartExample 1 Material Cost Variance
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StartExample 2 Material Cost Variance
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StartExample 3 Material Cost Variance
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StartExample 4 Material Cost Variance
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StartLabour Cost Variance
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StartLabour Rate Variance
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StartLabour Efficiency Variance
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StartExample 1 Labour Cost Variance
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StartExample 2 Labour Cost Variance
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StartOverhead Cost Variance
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StartProduction Volume Variance
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StartOverhead Expense Variance
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StartVariable Overhead Cost Variance
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StartFixed Overhead Cost Variance
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StartExample 1 Overhead Cost Variance
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StartExample 2 Overhead Cost Variance
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Operating Costing
6 Lessons -
Process Costing
12 Lessons-
StartWhat is Process Costing ?
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StartBasic Feature of Process Costing
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StartProcess Costing Procedure
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StartOperation Costing
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StartTreatment of Normal Process Loss, Abnormal Process Loss, Abnormal Gains in Cost Accounting
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StartWIP Valuation
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StartMeaning of Equivalent Production
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StartAverage cost Method
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StartExample -Process cost, normal, abnormal Loss and gains
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StartExample -Equivalent Production
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StartExample - Equivalent Production FIFO Method
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StartExample - Average Cost Method
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Budget & Budgetary Control
14 Lessons-
StartWhy we need Budget?
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StartEssentials of Budget
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StartCharacteristics of Budget
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StartObjectives of Budget
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StartBudgetary Controls
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StartObjectives of Budgetary Control System
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StartWorking of a Budgetary Control System
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StartAdvantages & Limitation of a Budgetary Control System
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StartComponents of a Budgetary Control System
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StartPreparation of Budget
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StartDifferent types of Budget
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StartFixed Budgets
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StartFlexible Budgets
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StartDifference between Fixed and Flexible Budget
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Marginal Costing
22 Lessons-
StartIntroduction to Marginal Costing
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StartDirect Costing
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StartDifference between Marginal Costing and Direct Costing
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StartDifferential Cost
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StartDifference between Marginal Costing and Differential Costing
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StartDifference between Variable Cost and Fixed Cost
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StartSemi Variable Cost
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StartFormat of Marginal Cost Sheet
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StartMarginal Cost Equation
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StartAbsorption Costing Format
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StartDifference between Marginal Costing and Absorption Costing
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StartContribution
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StartRelationship between Profit and Contribution
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StartDecision making indicators in Marginal Costing
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StartProfit Volume Ratio - PVR
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StartBreak Even Point- BEP
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StartMargin of Safety - MOS
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StartIndifference Point
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StartDifference between Indifference point and Break Even Point
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StartShut Down Point
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StartExample Break Even Point
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StartExample Desired sales for Required profits
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Joint Products & By Products
15 Lessons-
StartWhat are Joint Product and By Product?
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StartMeaning of Joint Product and By Product
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StartApportionment of Joint cost
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StartMethod of apportionment of Joint cost
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StartPhysical Unit Method
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StartAverage Unit cost Method
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StartSurvey Method
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StartContribution Margin Method
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StartMarket Value Method
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StartMethods of apportioning joint cost over by products
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StartTreatment of By Product cost in Cost Accounting
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StartUntitled lesson
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StartExample - Average Cost Method
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StartExample - Contribution Margin Method
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StartExample - Different method of joint cost allocation
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Job Costing and Batch Costing
12 Lessons-
StartMethod of costing
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StartMeaning of Job Costing
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StartPrinciples and Process of Job Costing
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StartSuitability of Job Costing
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StartDifference between job costing and process costing
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StartProcedure for Job Cost Accounting- Material
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StartProcedure for Job Cost Accounting - Labour
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StartProcedure for Job Cost Accounting - Overhead
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StartTreatment of spoiled and defective work
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StartEntries in Control Account
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StartMeaning of Batch Costing
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StartEconomic Batch Quantity
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Comprehensive Costing
For Understanding of Costing Concepts, Techniques and Conceptual Framework.
Course Summary
This is a comprehensive course, covering each topic in detail. In this course you will learn the Cost Accounting basic concepts, theories, and techniques which deals with conceptual frame work. You will learn the following: (check the Course curriculum below)
Course Curriculum
Pankaj Dhingra
CMA Pankaj Dhingra,
With 30+ Years of experience in Accounts, Costing and Controlling, Pankaj has mastered the Costing and Controlling. He is Founder Member of the Saurabh System Development Network LLP, a software company which provides solutions for Costing and Controlling.
Course Pricing
Comprehensive Costing
9999 INR
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An Opportunity to Learn Costing and Earn by Teaming up with CMA Pankaj Dhingra