Loading...
13 Drury Colin : Management and Cost Accounting; International Thomson Business Press, London 14 K S Thakur : Cost Accounting – Theory & Practice; Excel Books, A-45, Naraina, Phase-I, New Delhi-110028 15 B M Lall Nigam and I C Jain Cost Accounting Principles and Practice - PHI Learning Private Limited
Fixed Cost / Contribution per unit = = 25,000 units At production level of 25,000 units, the total cost will be Rs 6,25,000 Calculatedas(25000×14 + 2,50000) Statement showing Profit & Margin of safety at different level of production Break Even Sale = Rs 6,25,000 25,000x25 Production InUnits Total Sale InRs Total Cost InRs Profit Sales
In this explanation of accounting basics, and throughout all of the free materials and the PRO materials, we will often omit some accounting details and complexities in order to present clear and concise explanations This means that you should always seek professional advice for your specific circumstances A Story for Relating to Accounting
COST ACCOUNTING – INTRODUCTION TO COST ACCOUNTING [40 MARKS] 1 INTRODUCTION TO COST ACCOUNTING: (a) Definition, Scope, objectives and significance of cost accounting, its relationship with financial accounting and management accounting (b) Cost Objects, Cost centers and Cost Units (c) Elements of cost (d) Classification of costs 2
1 Accounting Basics 2 Accounting for Special Transactions 3 Preparation of Final Accounts SECTION B: Fundamentals of Cost & Management Accounting [20 MARKS] 4 Fundamentals of Cost Accounting Section A : Fundamentals of Financial Accounting [80 marks] 1 Accounting Process (a) Accounting Principles, Concepts and Conventions
Financial Accounting v This chapter covers the following topics: Definition of Accounting Objectives & Scope Accounting Process