Elements of Costing.

Cover -- Preface -- Contents -- Chapter 1. Nature and Scope of Cost Accounting -- Need for Cost Accounting -- Growth and Development of Cost Accounting -- Definition and Scope of Cost Accountancy -- Scope of Cost Accountancy -- Nature of Cost Accounting -- Relationship between Financial Accounting and Cost Accounting -- Differences between Cost and Management Accounting -- Relationship between Cost, Estimate and Price -- Purposes or Objects of Cost Accounts -- Functions of Cost Accountant -- Installation of Cost Accounts -- Steps Involved in the Installation of Cost Accounting -- Requisites or Essentials of Cost Accounting System -- Organisation of Cost Accounting Department -- Advantages of Cost Accounting -- Limitations of Cost Accounting -- Criticisms or Objections Levelled Against Cost Accounts -- Chapter 2. Cost Analysis and Classification -- Definition of Cost -- Role of Cost in Cost Accounting -- Cost Unit and Cost Centre -- Costing Techniques -- Costing Systems -- Costing Methods -- Cost Classification -- Methods of Cost Classification -- Cost Conventions -- Components of Total Cost -- Cost Sheet -- Chapter 3. Materials Cost-Purchase Control -- Introduction -- Types of Materials -- Direct and Indirect Materials -- Definition and Importance of Purchasing -- Organisation of Purchase Department -- Qualifications of Purchase Manager -- Purchase Procedure -- Ascertaining Purchase Cost or Valuation of Materials Received -- Chapter 4. Materials Cost-Storekeeping -- Objectives of Storekeeping -- Importance of Storekeeping -- Essentials of Good Storekeeping -- Location and Layout of Stores Department -- Organisation of Stores Department -- Duties and Responsibilities of Storekeeper -- Storekeeping Records -- Materials Handling -- Inventory Control or Material Control or Stores Control -- Essentials of Material Control.

Techniques of Material Control -- Chapter 5. Materials Cost-Issue Control -- Introduction -- Objects of Materials Issue Control -- Principles Regarding Materials Issue -- Methods of Pricing Materials Issue -- Factors Influencing Pricing of Material Issues -- Accounting of Material Supplied by Customers -- Chapter 6. Accounting of Material Losses -- Introduction -- Classification of Materials Losses -- Accounting Treatment of Waste -- Accounting of Scrap -- Accounting of Spoilages -- Accounting of Defectives -- Control of Waste, Scrap, Spoilage and Deffectives -- Chapter 7. Tools, Patterns, Designs, Blue Prints and Packing Materials -- Tools -- Patterns -- Designs -- Drawings and Blueprints -- Packing Materials -- Chapter 8. Labour Cost Control -- Introduction -- Direct and Indirect Labour -- Labour Control -- Time Keeping and Time Booking -- Motion Study, Time Study and Work Study -- Job Evaluation -- Merit Rating -- Labour Productivity -- Labour Turnover -- Casual and Out Workers -- Chapter 9. Labour Cost Accounting -- Introduction -- Characteristics of a Sound Wage System -- Methods of Wage Payment -- Problem on Time and Piece Rate System -- Problems on Taylor's System of Wage Payment -- Straight Piece Rate and Taylor's Differential Piece Rate System -- Problems on Merrick's System of Wage Payment -- Problems on Merrick's Multiple Piece Rate System -- Problem on Straight Piece Rate and Merrick's Multiple Piece rate System -- Problems of Emerson's Efficiency System -- Problem on Gantt's Task and Bonus Plan -- Problem on Wages Under Taylor's, Merrick's and Gantt's Task and Bonus Plan -- Problems on Halsey System of Wage Payment -- Problem on Halsey-Weir System -- Problems on Rowan System -- Problems on Combinations of Different Systems of Incentives -- Problems on Combination of Different Systems of Incentives -- Preparation of Payroll.

Treatment of Certain Items in Cost Accounts -- Problems on Overtime Wages -- Chapter 10. Direct Expenses -- Introduction -- Features of Direct Expenses -- Direct Expenses Vs. Direct Materials -- Direct Expenses Vs. Indirect Expenses -- Accounting of Direct Expenses in Cost Accounts -- Control of Direct Expenses -- Chapter 11. Factory Overheads -- Introduction -- Problems of Appotionment Overheads -- Problems on Reapportionment of Overheads -- Problems on Machine Hour Rate -- Under-Absorption and Over-Absorption of Factory Overheads -- Capacity Cost -- Chapter 12 Office, Administration, Selling and Distribution Overheads -- Definition and Features of Office and Administration Overheads.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.