SVKM’s NMIMS ASMSOC – Course Outline

Course
Code
Course Cost Accounting
Title
Course Prof. Ami Sundhani/Prof. Nidhi Navalkha/Prof. Garima Pandey/Prof.
Instructor/s Nishant Parekh/Prof. Mohit Surekha
Course 4
Credit
Program F.Y.BBA. – Semester - II
and
Semester
Pre- Basics of Quantitative Techniques, Basic Knowledge of Business
Requisite
Learning 1) Acquiring Conceptual Clarity of Various Functions
Objectives 2) Ability to Analyze Various Functional Issues
Learning 1) Capability to conceptualise Various Functions
Outcomes 2) To Analyze Various Functional Issues
Course Basics of Cost Accounting, elements of cost, methods of cost accounting
Description covering manufacturing concerns.
Evaluation Specific % AOL Intended CLOs to be
Pattern Assessment Weighta Instruments Assessed
Methods / ge
Task
CL CL CL CL CL
O1 O2 O3 O4 O5
Class Tests 40% Test   - - -
MCQ test 10% Test   - - -
TEE 50% Exam   - - -
 Course Session Plan

Session Topics / Module Chapters (Mention Page Numbers)

/ Articles / Cases / Material and
Activities
Introduction to cost accounting Cost Accounting Principles and
1-2 Practice by M.N. Arora (12th Edition)
 Introduction to Costing and Cost (Module 1)
accounting
 Comparison between Financial & Cost
accounting
 Cost concepts & elements

Outcome :
Students should be able to differentiate
between financial accounting and cost
accounting and understand the basic
concepts of cost accounting

3-13 Methods of Costing – Unit Costing Cost Accounting Principles and

Practice by M.N. Arora (12th Edition)
 Preparing comprehensive cost sheets (Module 1 and 6)
 Classification of Overheads
 Valuation of Finished Goods

Outcome :
Students should be able to prepare a
comprehensive cost sheet for one or two
products.
14-19 Material Costing : Cost Accounting Principles and
Practice by M.N. Arora (12th Edition)
 Inventory control & techniques (Module 2)
 Methods of pricing of material issues
(FIFO and weighted average)
 Treatment of material losses

Outcome :
Students should be able to find the
different levels of stock and economic
order quantity. They should be able to
calculate the annual inventory cost and
annual inventory holding cost. They
should also know how to prepare a stock
register as per FIFO and WAM.
20 Labour Costing Separate Module Material
 Accounting & control and treatment of
Idle time under labour cost.
 Outcome :
Students should know the basic treatment
of labour and idle time. They should
know basic incentive plans.
21-35 Overheads Costing Cost Accounting Principles and
 Classification of overheads Practice by M.N. Arora (12th Edition)
 Allocation and apportionment of (Module 4)
overheads
 Absorption of overheads
 Under- and over-absorption

Outcome :
The students should be able to classify
overheads into fixed and variable. They
should also be able to bifurcate semi
variable overheads, and calculate the
absorption rate.
36-47 Methods of Costing - Process Costing Cost Accounting Principles and
Practice by M.N. Arora (12th Edition)
 Simple Process Costing Problems (Module 9)
 Treatment of Different Losses/Gains
 Valuation of Work in Process and
Finished Goods as per FIFO and
WAM.

Outcome :
The student should be able to prepare
simple process account and process
accounts with work in process.
48-58 Methods of Costing – Contract Costing Cost Accounting Principles and
 Simple Contract Accounts Practice by M.N. Arora (12th Edition)
 Escalation clause (Module 8)
 Two year contracts
 Multiple contracts.

Outcome :
The students should be able to prepare
simple, multiple escalation and two year
contracts. They should also be able to
value work certified and work
uncertified.
59-60 Reconciliation of Cost and Financial Cost Accounting Principles and
Accounts Practice by M.N. Arora (12th Edition)
 Reconciliation Statements (Module 13)
 Cost Sheet
 Financial Profit and Loss Account
 Outcome :
The students should be able to prepare
cost sheet, financial profit and loss
account and statement of reconciliation
between cost and financial books of
accounts.

Prepared by Faculty Approved by Program Approved by Associate Deans

Members Chairperson
Prof. Ami Sundhani

Approved by I/C Dean –

ASM SOC