Term III

COST AND MANAGEMENT ACCOUNTING

Course Objectives:

• To understand the concepts, techniques of cost management in Agri-plantation companies.

• To apply costing decisions for managing total cost for Agri business.

1.Principles of Cost Accounting: introduction to cost preparation of Cost Sheet / Unit Cost

Statement, Methods of Costing, Cost accounting records rules for Plantation & Agribusiness.

2. Managing Material Costs – Principles of Inventory Management. LIFO & FIFO, Simple &
weighted average Methods, EOQ,

3. Labour Cost Management Techniques, Incentive plan schemes, Overheads

– machine hour rate

4.Process Costing: Normal/ Abnormal Loss.

5.Marginal Costing for decision making: – BEP, CVP Analysis

6.Standard Costing and Analysis of Variances: material and Labour.

7.Budgeting and Budgetary Control Systems.

8.Rationalized Cost Management and Case studies