Fundamentals of Cost Accounting

By Prof. Arindam Banerjee | The Institute of Cost Accountants of India (ICMAI)

Learners enrolled: 4637 | Exam registration: 1095

ABOUT THE COURSE:
The subject, Cost Accounting, introduces the fundamental concepts of cost, cost accounting and costing and carefully builds up a detail understanding of various elements of costs and the techniques for ascertainment, controlling and monitoring of costs. It also highlights different industry specific costing methods to accumulate total costs with due compliance of the Cost Accounting Standards that provide the framework for such tasks. The subject also focuses on the details of alternative cost bookkeeping processes, integration or reconciliation with financial accounting system used in organisations. It enumerates various techniques of costing to facilitate managerial decision making on cost optimisation, profit planning and control.

Website: https://www.icmai.in/icmai/

INTENDED AUDIENCE: Anyone, who is interested to enrich his/ her knowledge in Cost and Management Accountancy

PREREQUISITES: Higher Secondary completed

INDUSTRY SUPPORT: Recognised by the ICMAI

Summary

Course Status :	Completed
Course Type :	Elective
Language for course content :	English
Duration :	8 weeks
Category :	Management Studies Economics & Finance
Credit Points :	2
Level :	Undergraduate
Start Date :	19 Aug 2024
End Date :	11 Oct 2024
Enrollment Ends :	19 Aug 2024
Exam Registration Ends :	30 Aug 2024
Exam Date :	02 Nov 2024 IST

Note: This exam date is subject to change based on seat availability. You can check final exam date on your hall ticket.

Page Visits

Course layout

Week 1: Understanding Basics of Cost Accounting

Introduction to Cost Accounting
Cost Concepts, Classification of Costs

Week 2: Elements of Cost

Accounting for Material Cost
Accounting for Employee (Labour) Cost

Week 3: Overhead Accounting and Cost Sheet

Overhead Accounting
Preparation of Cost Sheet

Week 4: Methods of Costing - I

Job Costing
Service/Operating Costing

Week 5: Methods of Costing - II

Contract Costing
Process Costing

Week 6: Marginal Costing

Cost-Volume-Profit (CVP) Analysis, BEP Analysis
Applications of Contribution Analysis in Decision Making

Week 7: Budgetary Control

Introduction to Budgetary Control
Cash Budget & Flexible Budget

Week 8: Standard Costing and Variance Analysis

Standard Costing
Variance Analysis

Books and references

1. Principles & Practice of Cost Accounting, Dr. Ashish K. Bhattacharyya
2. Principles and Practice of Cost Accounting, N K Prasad
3. Cost Accounting – A Managerial Emphasis, Charles T. Horngren, Srikant M. and Madhav V. Rajan
4. Management and Cost Accounting, Colin Drury
5. Cost and Management Accounting, Ravi M. Kishore
6. Cost Accounting, Khan and Jain

Instructor bio

Prof. Arindam Banerjee

The Institute of Cost Accountants of India (ICMAI)

Prof. Arindam Banerjee is currently working as Associate Professor of Finance at Shiv Nadar University, Chennai.

He pursued his doctoral research at National Institute of Technology, Durgapur, India. He is also a fellow member of ICMAI (FCMA) and a Certified Financial Planner (CFPCM) by qualification.

Prof. Banerjee authored textbook on Financial Management published by Oxford University Press. He conducts corporate trainings in the areas of Finance and Accounting. He conducted ‘Data Analytics for Finance Professionals’ certification course for The Institute of Cost Accountants of India.

Course certificate

The course is free to enroll and learn from. But if you want a certificate, you have to register and write the proctored exam conducted by us in person at any of the designated exam centres.

The exam is optional for a fee of Rs 1000/- (Rupees one thousand only).

Date and Time of Exams: 02 November 2024 Morning session 9am to 12 noon; Afternoon Session 2pm to 5pm.

Registration url: Announcements will be made when the registration form is open for registrations.

The online registration form has to be filled and the certification exam fee needs to be paid. More details will be made available when the exam registration form is published. If there are any changes, it will be mentioned then.

Please check the form for more details on the cities where the exams will be held, the conditions you agree to when you fill the form etc.

CRITERIA TO GET A CERTIFICATE

Average assignment score = 25% of average of best 6 assignments out of the total 8 assignments given in the course.
Exam score = 75% of the proctored certification exam score out of 100

Final score = Average assignment score + Exam score

YOU WILL BE ELIGIBLE FOR A CERTIFICATE ONLY IF AVERAGE ASSIGNMENT SCORE >=10/25 AND EXAM SCORE >= 30/75. If one of the 2 criteria is not met, you will not get the certificate even if the Final score >= 40/100.

Certificate will have your name, photograph and the score in the final exam with the breakup.It will have the logos of NPTEL and IIT Madras .It will be e-verifiable at nptel.ac.in/noc.

Only the e-certificate will be made available. Hard copies will not be dispatched.

Once again, thanks for your interest in our online courses and certification. Happy learning.

- NPTEL team

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