MAPEX TRAINING INSTITUTE

Diploma in Accounting Courses

Lesson 10 COST ACCOUNTING 1.0 AIMS AND OBJECTIVES

1. To know the Meaning and Definition of cost, costing and cost Accounting

2. To study the objectives and functions of cost Accounting

3. To study the importance of cost Accounting

4. To know the Characteristics of a good costing system

5. To study the cost control and cost reduction

6. To understand the meaning of cost unit, cost centre and profit centre

Lesson 11 MANAGEMENT ACCOUNTING

1.0 AIMS AND OBJECTIVES

1. To study the definition, objectives and scope of management accounting.

2. To understand the functions, advantages and limitations of management accounting.

3. To study the distinction between management, cost and financial accounting.

Lesson 12 ELEMENTS OF COST 1.0 AIMS AND OBJECTIVES

1. To understand the elements of cost.2. To study the classification of cost.3. To study the methods and

techniques of costing.

Lesson 13 COST SHEET 1.0 AIMS AND OBJECTIVES

1. To study the meaning and definition of cost sheet.

2. To understand the treatment of stocks.

3. To learn how to prepare cost sheet.4. To know the tenders and quotations

Diploma in AccountingCourse Outline

MAPEX TRAINING INSTITUTE

Diploma in Accounting Courses

Lesson 14 STORE CONTROL 1.0 AIMS AND OBJECTIVES

1. To study the meaning of stores and types of stores.

2. To know the store keeper, classification and codification.

3. To understand the store control and inventory control.

4. To study inventory turnover, ABC analysis and VED analysis.

5. To study the fixation of stock levels and Economic order Quantity

Lesson 15 STORES LEDGER 1.0 AIMS AND OBJECTIVES

1. To know the store ledger and Bin card

2. To understand the issue of material and treatment of surplus material.

3. To study the different methods of pricing of material and material losses.

Lesson 16 LABOUR COST 1.0 AIMS AND OBJECTIVES

1. To know the different kinds of Labour

2. To understand the terms motions study and Time study.

3. To understand about job analysis and job evaluation.

4. To know the different methods of remuneration and incentives.

5. To understand about labour Turnover.

Lesson 17 STANDARD COSTING

1.0 AIMS AND OBJECTIVES

1. To know the meaning of standard, standard cost and standard costing.

2. To understand the difference between estimated costing and standard costing and also between budgetary control and standard costing.

MAPEX TRAINING INSTITUTE

Diploma in Accounting Courses

3. To study the advantages and limitation of standard costing.

4. To learn the determination of standard costs.

Lesson 18 VARIANCE ANALYSIS 1.0 AIMS AND OBJECTIVES

1. To understand the meaning and definition of variance analysis

2. To know to different kinds of material variance

3. To study the different type of labour variance

4. To learn to methods of calculation of material and labour variances

Lesson 19 MARGINAL COSTING 1.0 AIMS AND OBJECTIVES

1. To study the definition of Marginal cost and marginal costing.

2. To know the cost volume profit analysis and some important points.

3. To understand the Break even chart and types of Break-even charts.

4. To study the difference betweenAbsorption costs and Marginal costing.

Lesson 20 BUDGETING 1.0 AIMS AND OBJECTIVES

1. To know the meaning of budget, budgetary control

2. To understand the difference between forecast and budget

3. To know to different types of budgets

MAPEX TRAINING INSTITUTE

Diploma in Accounting Courses

This Manual was prepared by Mr. Joel Amani for Mapex Training Institute students undertaking Diploma in Accounting Courses Commencing in 2016.

The eleven lessons or chapters will take you through the difference between Cost, Management and Financial Accounting. These Chapters will provide a better study and understanding on the following functions of Accounting:

o Define cost, objective and functions of Cost Accounting o Define objective & scope of Management Accounting, understand the

functions, advantage and limitation of Management Accountingo Understand the difference between estimated costing and standard costingo Understand the different kinds of Material variance and Labour varianceo Understand budget and budget control and the difference between forecast

and budget

Lessons 10 to 20 of the Diploma in Accounting will cover:

10. Cost Accounting11. Management Accounting12. Elements of Cost13. Cost Sheet14. Store Control15. Stores Ledger

16. Labour Cost17. Standard Costing18. Variance Analysis19. Marginal Costing20. Budgeting