B.Com. (Accounting and Finance) Cost Accounting I Syllabus - Mumbai University
This is the SY BAF syllabus under NEP 2020, in force from the academic year 2025-26. The University still sets the earlier Choice Based syllabus below alongside it for ATKT candidates, so check which scheme your exam form names before you revise.
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Syllabus for Cost Accounting - I
Module I: Introduction to Cost and Management Accounting
- Meaning, objective and importance of Cost and Management Accounting
- Functions and role of Cost Accounting Department in an organization
- Installation of Cost Accounting System in an organization
- Differentiate between Cost Accounting, Financial Accounting and Management Accounting.
- Various elements and classifications of cost and methods of costing.
- Need for Activity Based Costing (ABC)
- Practical problems of Activity Based Costing (ABC)
Module II: Material Cost
- Meaning, need for and importance of material
- Material Storage and Records: Bin Cards, Stock Control Cards and Store Ledger
- Preparation of Stock Ledger Account using FIFO and Weighted Average Method.
- Computation of Economic Order Quantity (EOQ).
Module III: Employee Cost
- Meaning and importance of Employee (Labour) cost in an organisation
- Employee (Labour) cost control: Functions, Factors and Procedures
- Idle Time: Causes, Treatment and computation of Effective hourly cost of employee.
- Over Time: Causes and Treatment
- Systems of Wage Payment and Incentives: Calculation of wages/salary/employee cost based on Time Rate System, Piece Rate System and Premium Bonus Method (Halsey Premium Plan and Rowan Premium Plan)
- Employee (Labour) Turnover: Meaning and Calculation based on Replacement Method and Separation Method.
Module IV: Overheads – Absorption Costing Method
- Meaning of Overheads-Classification: Production, administrative and selling and distribution.
- Classification of overheads into fixed and variable.
- Meaning and methods of allocation of overheads to various departments.
- Apportionment and absorption of overheads.
Reference Books
- Cost Accounting Theory and Practice by B.K. Bhar, Tata Mc. Grow Hill and Co. Ltd., Mumbai
- Cost Accounting Principles and Practice by M.N. Arora, Vikas Publishing House Pvt. Ltd., New Delhi
- Advanced Cost and Management Accounting: Problems and Solutions by V.K. Saxena and C.D. Vashist, S. Chand and Company (P) Ltd., New Delhi 10 • Cost Accounting by S.P. Jain and K.L. Narang, Kalyani Publishers, Ludhiana
- Modern Cost and Management Accounting by M. Hanif, Tata McGraw Hill Education Pvt. Ltd., New Delhi Lectures on Costing by Swaminathan: S. Chand and Company (P) Ltd., New Delhi
- Cost Accounting by C.S. Rayudu, Tata Mc. Grow Hill and Co. Ltd., Mumbai
- Cost Accounting by Jawahar Lal and Seema Srivastava, Tata Mc. Grow Hill and Co. Ltd., Mumbai
- Cost Accounting by Ravi M. Kishore, Taxman Ltd., New Delhi
- Principles and Practices of Cost Accounting by N.K. Prasad, Book Syndicate Pvt. Ltd., Calcutta External, Semester End Examination 11 Internal Continuous Assessment: 40% 60% Individual Passing in Internal and External Examination
Reproduced from the University of Mumbai syllabus for B.Com. (Accounting & Finance) under NEP 2020, in force from the academic year 2025-26. Wording is as printed in that syllabus. Module numbering is as printed there too.
The complete syllabus
This subject is cut from the University circular for its year. Open a document here if you want the whole thing rather than a single subject.