K. J.

SOMAIYA COLLEGE OF ARTS AND COMMERCE

(Autonomous)
VIDYAVIHAR, MUMBAI-77

Re-accredited by NAAC with ‘A’ grade and CGPA: 3.33

College with Potential for Excellence by UGC
(Affiliated to University of Mumbai)

SYLLABUS
AND
SCHEME OF EXAMINATION

Program: B.Com (Third Year)

Course: Financial Accounting & Auditing

SEM VI

As per
CREDIT BASED SEMESTER & GRADING
SYSTEM
(75-25 Marks Pattern)
(With effect from the Academic Year: 2018-2019)
 SEM VI

1. Name of the Programme : B.Com

2. Paper No. : Paper IX
3. Course Title : Cost Accounting
4. Code of the Course : UBCOMTSVI.2
5. No. of Credits : 04
6. No. of lectures : 60
7. No. of lectures per week : 04

Objectives of the Course:

 To provide adequate basic understanding about accounting and financial education to
the students.
 To emphasize on conceptual knowledge and thereby prepare for professional courses
and make them employable in the fields of accounting and finance.

Modules Title
Module 1 Contract Costing 15 Lectures
Progress payments, Retention money, Contract accounts, Accounting for
material, Accounting for Tax deducted at source by the contractee, Accounting
for plant used in a contract, treatment of profit on incomplete contracts, Contract
profit and Balance sheet entries.
Excluding Escalation clause
Note: Simple Practical Problems
Module 2 Process Costing 25 Lectures
Process loss, Abnormal gains and losses, Joint products and by products,
Equivalent units, Inter - process profit
Note: Simple Practical Problems
Module 3 Introduction to Marginal Costing 08 Lectures
Marginal costing meaning, application, advantages, limitations,
Contribution, Breakeven analysis and profit volume graph.
Note:- Simple Practical problems based on Marginal Costing excluding decision
making
Module 4 Introduction to Standard Costing 08 Lectures
Various types of standards, setting of standards, Basic concepts of Material and
Labour variance analysis.
Note:-Simple Practical problems based on Material and labour variances
excluding sub variances and overhead variances
Module 5 Some emerging concepts of cost accounting 04 Lectures
Target costing
Life cycle costing
Benchmarking
ABC costing

Evaluation Pattern
Internal
1) Class test – Online exam 20 Marks
2) Active participation
05 Marks

External

Maximum Marks: 75
Questions to be set: 05
Duration: 2 ½ Hrs.
All Questions are Compulsory Carrying 15 Marks each.
Q. 1 Objective Questions 15 Marks
A) Sub Questions to be asked 10 and to be answered any 08
B) Sub Questions to be asked 10 and to be answered any 07

(*Multiple choice / True or False / Match the columns, Fill in the

blanks)

Q.2 Full Length Practical Question 15 Marks

OR OR
Q.2 Full Length Practical Question 15 Marks

Q.3 Full Length Practical Question 15 Marks

OR OR
Q.3 Full Length Practical Question 15 Marks
Q.4 Full Length Practical Question 15 Marks
OR OR
 Q.4 Full Length Practical Question 15 Marks
Q.5 A) Theory questions 8 Marks
B) Theory questions 7 Marks
OR
Q.5 Short Notes
To be asked 05 15 Marks
To be answered 03
Note: Full length question of 15 marks may be divided into two sub questions of 08 and 07 marks

References:
1. Ravi M. Kishore (2016), “Cost And Management Accounting”, 6 th Edition , Taxman
Publication.
2. M.C. Shukla, T.S. Agrawal and Dr. M.P. Gupta(2014), “Cost Accounting”, Revised
Edition, S. Chand Publication.
3. Dr. P.C. Tulsian(2011), “Introduction to Cost Accounting”, First Edition, S. Chand &
Co. Ltd.
4. P.V. Rathnam(2006), “Cost and Management Accounting”, 4 th Edition, Kitab Mittal.
5. M.N. Arora(2008), “Cost and Management Accounting”, 4 th Edition, Himalaya
Publishing House.
6. A.A. Ansari and J.C. Varshney(2008), “Financial and Cost Accounting”, First
Edition, Wisdom Publication.
7. M.R. Agrawal(2011), “Cost and Management Accounting”, Revised Edition, Garima
Publication.
8. ICAI(2017), “Cost and Management Accounting for Intermediate”, July 2017
Edition, ICAI.