4142: Accounting Syllabus for Commercial Practice 4th Sem 2021 Revision SITTTR

Accounting detailed syllabus for Commercial Practice (CP) for 2021 revision curriculum has been taken from the SITTTRs official website and presented for the Commercial Practice students. For course code, course name, number of credits for a course and other scheme related information, do visit full semester subjects post given below.

For Commercial Practice 4th Sem scheme and its subjects, do visit Commercial Practice (CP) 4th Sem 2021 revision scheme. The detailed syllabus of accounting is as follows.

Course Objectives:

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Course Outcomes:

On completion of the course, the student will be able to:

Identify different methods and techniques of costing.
Prepare cost sheet and memorandum reconciliation account.
Apply methods of process costing, job costing and contract costing.
Apply marginal costing techniques and budgetary control techniques.

Module 1:

Basic Concepts of Cost Accounting: Meaning and definition of Cost – Costing-Cost Accounting – Cost Accountancy – Objectives of Cost Accounting – Advantages and Disadvantages of Cost Accounting – Difference between Cost Accounting and Financial Accounting – Different methods of costing – Describe Techniques of costing – Cost center and Cost unit – Elements of Cost – Material- Direct and Indirect – Labor-Direct and Indirect-Expenses – Direct – Indirect(Over Heads) Classification of Cost – On the basis of function -Production Cost – Office Cost – Selling Cost – Distribution Cost – On the basis of Element -Material – Labor – Expenses – On the basis of Variability – Fixed – Variable – Semi variable -On the basis of Controllability – Controllable – Uncontrollable – On the basis of Normality -Normal – Abnormal.

Module 2:

Module 3:

Process Costing, Job Costing and Contract Costing: Meaning of Process Costing -Features of Process Costing – Application – Elements – Process Accounts – Process Losses -Normal and Abnormal Process Losses – Abnormal Gain. Job Costing – Difference between Job and Process Costing – Practical Problems relating to Process Accounts. Meaning of Contract costing – Features – Profit on Incomplete contracts – Escalation clause – Cost Plus contract. (Theory Only).

Module 4:

Marginal Costing and Budgetary Control: Meaning of Marginal Cost and Marginal costing – Definition – Marginal Cost Equation – Break Even Analysis – Contribution – BEP-Margin of Safety – Break Even Chart – Angle of Incidence – Application of Marginal Costing for decision making (Simple Problems only) – Meaning and Objectives of Budgetary Control – Different types of Budget – Preparation of Cash Budget and Flexible Budget – Simple Practical Problems.

Text Books:

Reference Books:

S.P Jain and K.L Narang. Advanced Cost accounting. Kalyani Publishers Delhi.
M.C. Shukla. Cost Accounting. Sulthan Chand Delhi.
S.N. Maheswari. Cost Accounting. Sulthan Chand Delhi.
V. Rajasekharan and R. Lalitha. Cost Accounting. Pearson Publication.

Online Resources

For detailed syllabus of all other subjects of Commercial Practice (CP), 2021 revision curriculum do visit Commercial Practice 4th Sem subject syllabuses for 2021 revision.

To see the syllabus of all other branches of diploma 2021 revision curriculum do visit SITTTR diploma all branches syllabus..

To see the results of Commercial Practice (CP) of diploma 2021 revision curriculum do visit SITTTR diploma Commercial Practice (CP) results..

For all Commercial Practice academic calendars, visit Commercial Practice all semesters academic calendar direct link.

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