The course is designed to enable students to develop conceptual, skill and application skill in the commerce related field. The course will familiarize students with current business process and practices. This will help students in developing capabilities to identify business opportunities, analyze their risk-return possibilities and support business development in socially desirable avenues with strong moral commitment.

Part B: Vocational Skills

1. General Principles

  • Meaning and Scope of Cost Accounting.
  • Objectives of Cost Accounting.
  • Cost Accounting Versus Financial Accounting.
  • Importance of Cost Accounting.
  • Objections to Cost Accounting.
  • Elements of Cost.
  • Components of Total Cost.
  • Classification of Costs.
  • Installation of a Costing System.
  • Methods of Costing.
  • Techniques of Costing.
  • Systems of Costing.

2. Direct Materials

  • Materials Control.
  • Purchasing of Materials.
  • Receiving of Materials.
  • Inspection of Materials.
  • Storage of Materials.
  • Issuing of Materials.
  • Maintenance of Inventory Records.
    1. Incoming Materials.
    2. Outgoing Materials.

3. Direct Labour and Direct Expenses

  • Direct and Indirect Labour.
  • Control over Labour Costs.
  • Personnel Department.
  • Engineering and Works Study Department.
  • Time-keeping Department.
  • Pay-master's Department.
  • Cost Accounting Department.
  • Treatment of Holiday Pay, Idle Time, Overtime etc. in Cost Accounts.
  • Labour Turnover.
  • Direct Expenses.

4. Overheads - Control

  • Classification of Overheads.
  • Comments on Certain Items of
    1. Factory Overheads.
    2. Office and Administrative Overheads.
    3. Selling and Distribution Overheads.

5. Overheads - Distribution

  • Overheads Distribution Stages.
  • Distribution of Factory Overheads.
  • Distribution of Office and Administration Overheads.
  • Actual Versus Pre-determined Overhead Rates.
  • Over and Under-absorption of Overheads.