TEACHING LESSON PLAN- B.Com (Regular) 4 th Semester

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1 TEACHING LESSON PLAN- B.Com (Regular) 4 th Semester SUBJECT: C 5MC40: COST ACCOUNTING MODULE : BASIC CONCEPTS AND CLASSIFICATION SESSION/ HOURS REQUIRED) 5 Hrs Hours a) Meaning of Cost Accounting, Costing, Cost Accountancy, Cost Management b) Objectives of Cost c) Cost Accounting Vs Financial d) Cost Accounting Vs Management Accounting e) Advantages of Cost Accounting f) Methods of Costing g) Techniques or Types of Costing h) Cost Units Meaning purpose. i) Cost Centres Meaning purpose. j) Cost Accounting Departments k) Brief note on Cost Audit Records Report Rules Explanation of terms used Presentations on topics given in the module LEARNING OUTCOME Knowledge of: a) The meaning of terms: Cost Accounting, Costing, Cost Accountancy, Cost Management b) Objectives of Cost c) Cost Accounting Vs Financial d) Cost Accounting Vs Management Accounting e) Advantages of Cost Accounting f) Methods of Costing g) Techniques or Types of Costing h) Cost Units Meaning purpose. i) Cost Centres Meaning purpose. j) Cost Accounting Departments Brief note on Cost Audit Records Report Rules a) Oral Test b) Written Test c) MCQ d) Activity: List the methods of Costing adopted by industrie s located in a particula r region.

2 MODULE 2: Cost Concepts Classification SESSION / HOURS REQUIRE D) 2 Hrs Meaning - Cost Expenses Losses Classification of costs - Cost statement or cost sheet Tender quotation - Job Batch Costing. a. Explanation of terms used in the Module. b. Presentations on the topics given in the module Problems solutions LEARNING OUTCOME Knowledge of: a) The meaning of terms: Cost, Expenses Losses. b) Classification of Costs based on behavior, Output, degree of traceability to the product, Association with the product, on the basis of functions on the basis of controllability c) Preparation of Cost Statement or Cost Sheet d) Meaning of Tenders quotations Its preparation. a) Assign ments b) Student working out sums on board. c) Oral Test d) Written Test e) MCQ Activity : List of material s consum ed in any two organiz ations MODULE 3: MATERIAL CONTROL AND MATERIAL CLASSIFICATION SESSION/ HOURS REQUIRED) 0 Hours a) Meaning of Material Material Control. b) Concepts Objectives of Material Control. c) Organisation for Material Control. d) Purchasing Receiving Procedure, Issues in material procurements, stores a) Explanation of terms b) Presentation s on the topics given in the module LEARNING OUTCOME a) Knowledge of the terms used. b) Calculation of Stock Levels EOQ with or without a) Assignments b) Student working out sums on board. c) Oral Test d) Written Test e) Activity: Collection of

3 organization, inventory shortages overages Inventory control. e) Calculations of Stock levels EOQ with or without discount. f) Preparation of Stores Ledger under FIFO, LIFO Weighted Average Methods. g) Pricing of Materials returned to vendor, Pricing of materials returned to storeroom selection of a material pricing method. c) Problems solutions. discount. c) Preparation of Stores Ledger under FIFO, LIFO Weighted Average. d) Knowledge of Purchasing Receiving Procedure, Issues in material procuremen ts, stores organization, inventory shortages overages Inventory control. e) Pricing of Materials returned to vendor, Pricing of materials returned to storeroom selection of a material pricing method. difference formats of Material requisition, purchase requisition, bin cards stores ledger. MODULE 4: LABOUR COSTS ACCOUNTING AND CONTROL SESSION/ HOURS REQUIRED) 0 Hours a) Meaning of Direct Labour, Indirect Labour, Incentive wage plans, Work study, Job Evaluation, Merit Rating, Time a) Explanation of terms b) List of LEARNING OUTCOME a) Knowledge of the terms used. a) Assignments b) Student working out sums on

4 Motion Study Labour Turnover. b) Treatment of Labour cost related items. c) Methods of remunerating labour Time Piece Rate System, Halsey Rowan Premium systems, Taylor Merrick s differential piece rate system. formulae c) Basic Laws d) Presentation s on the topics given in the module e) Problems solutions. b) To Calculate Learning Curve Ratio. c) Forecasting of cost its impact on profit using Leaning Curve. board. c) Oral Test d) Written Test e) MCQ f) Activity : Preparation of wage sheet/pay roll with imaginary figures. MODULE 5: OVERHEAD DISTRIBUTION SESSION/ HOURS REQUIRED) 5 Hours a) Meaning of Overheads b) Classification of overheads. c) Collection codification of overheads. d) Allocation apportionment of factory overheads. e) Apportionment of Service Department overheads to production departments by Repeated Simultaneous Equation Method. f) Absorption of factory overheads Machine hour rate method. g) Selecting an absorption rate. a) Explanation of terms b) Presentation s on the topics given in the module c) Problems solutions. LEARNING OUTCOME a) Knowledge of the terms used. b) Allocation apportionm ent of factory overheads. c) Apportionm ent of Service Department overheads to production department s by Repeated Simultaneou s Equation Method. d) Absorption of factory overheads Machine hour rate method. e) Selecting an absorption a) Assignments b) Student working out sums on board. c) Oral Test d) Written Test e) MCQ

5 rate. f) To solve problems on the above. MODULE 6: RECONCILIATION OF COST AND FINANCIAL ACCOUNTS SESSION/ HOURS REQUIRED) 8 Hours a) Need for reconciliation b) Reasons for difference in profits c) Problems on Reconciliation. d) Preparation of Memorum Reconciliation Account. a) Explanation of terms a) Presentation s on the topics given in the module b) Problems solutions. LEARNING OUTCOME a) Knowledge of the terms used. b) Need for Reconciliation c) Reasons for differences in profits d) To solve problems on the above. a) Assignments b) Student working out sums on board. c) Oral Test d) Written Test e) MCQ LESSON PLAN HOURLY WISE Subject Name: COST ACCOUNTING hours: 60 Objective: To familiarize acquire adequate knowledge with the basic cost concepts required for effective decision making in firms. Sl. No UNIT & OBJECTIVES No. of Hours Methodology/Instr uctional techniques Evaluation/ learning confirmation Module I BASIC CONCEPTS AND CLASSIFICATION Objective: To underst the Basics of Cost Management Accounting, its objects, advantages, methods techniques. 5. Meaning of Cost Accounting, Costing, Cost Accountancy, Cost Management Accounting,

6 Objectives of Cost 2. Cost Accounting Vs Financial Accounting, Cost Accounting Vs Management Accounting, Advantages of Cost Accounting 3. Methods of Costing, Techniques or Types of Costing, Cost Units Meaning purpose, Cost Centres Meaning purpose. 4. Cost Accounting Departments, Brief note on Cost Audit Records Report Rules 5. Revision Test Revision MCQ Module -2 Cost Concepts Classification 2 hours Meaning of Cost, Expenses Losses, Classification of Costs based on behavior, output, degree of traceability to the product, 2 Classification of cost on the basis of association with the product, on the basis of functions on the basis of controllability. Meaning of Cost Statement its preparation 3 Problems on Cost Sheet, Tender Quotation 7 4 Job Batch Costing. 2 5 Revision Students working sums on the board/mcq MATERIAL CONTROL AND MATERIAL COSTING: Module 3 Objective: To prepare Stores Ledger under FIFO, LIFO Weighted Average Method Calculations of Stock levels EOQ 0

7 . Meaning of Material Material Control, Concepts Objectives of Material Control, Organisation for Material Control. 2. Purchasing Receiving Procedure, Issues in material procurements, Stores organization, inventory shortages overages Inventory control. 3. Calculations of Stock levels EOQ with or without discount. 4. Calculations of Stock levels EOQ with or without discount. 5. Calculations of Stock levels EOQ with or without discount. 6. Preparation of Stores Ledger under FIFO, LIFO Weighted Average Methods. 7. Preparation of Stores Ledger under FIFO, LIFO Weighted Average Methods. 8. Preparation of Stores Ledger under FIFO, LIFO Weighted Average Methods. 9. Pricing of Materials returned to vendor, Pricing of materials returned to storeroom selection of a material pricing method 0. Revision Revision Students working sums on the board LABOUT COSTS: ACCOUNTING AND CONTROL: Module 4 Objective: To underst the treatment of labour cost related items the methods of remunerating labour. 0. Meaning of Direct Labour, Indirect Labour, Incentive wage plans, 2 Meaning of Work study, Job Evaluation Merit Rating,

8 3 Time Motion Study Labour Turnover. Treatment of Labour cost related items. 4 Methods of remunerating labour Time Piece Rate System, Halsey Rowan Premium systems, Taylor Merrick s differential piece rate system. 5 Problems on Time Piece Rate System, 6 Problems on Halsey Rowan Premium systems, Taylor Merrick s differential piece rate system. 7 Problems on Time Piece Rate System, Halsey Rowan Premium systems, Taylor Merrick s differential piece rate system. 8 Problems on Time Piece Rate System, Halsey Rowan Premium systems, Taylor Merrick s differential piece rate system. 9 Problems on Time Piece Rate System, Halsey Rowan Premium systems, Taylor Merrick s differential piece rate system. 0 Revision Revision Students working sums on the board Module 5 OVERHEAD DISTRIBUTION: Objective: To underst the meaning of Overhead, its classification, allocation apportionment. To allocate apportion factory overheads, to apportion service department overheads to production departments. 5. Meaning of Overheads, Classification of overheads, Collection codification of overheads. 2. Allocation apportionment of factory overheads Apportionment of Service Department overheads to production 3. Problems on allocation apportionment of factory overheads

9 7. Problems on apportionment of Service Department overheads by Repeated Simultaneous Equation Method Problems on apportionment of Service Department overheads by Repeated Simultaneous Equation Method Absorption of factory overheads by Machine hour rate method Selecting an absorption rate Revision Revision Students working sums on the board/mcq RECONCILIATION OF COST AND FINANCIAL ACCOUNTS: Module 6 Objective: To know the reasons for differences in profits between Financial Accounting Cost Accounting, need for reconciliation preparation of Reconciliation Statement. 8. Reasons for differences in profits between Financial Accounting Cost Accounting need for reconciliation. 2. Preparation of Reconciliation Statement 3. Problems on Reconciliation Statement 4. Problems on Reconciliation Statement 5. Problems on Reconciliation Statement 6. Problems on Reconciliation Statement 7. Problems on Reconciliation Statement

10 8. Revision Revision Students working sums on the board/mcq TEXT BOOKS: Sl. No. Author s Name Name of the Textbook S. P. Jain K.L. Narang Cost Management Accounting 2 Colin Drury Management Cost Accounting 3 Nigam Theory Techniques of Cost Accounting 4 Dr. S.N. Maheshwari Cost Accounting 5 M.N. Arora Cost Accounting 6 Jawahar Lal Cost Accounting REFERENCES: Sl. No. Author s Name Name of the Textbook Costing Advisor P.V. Rathnam 2 Cost Accounting Khan Jain

TEACHING LESSON PLAN- B.Com (Regular) 4 th Semester

TEACHING LESSON PLAN- B.Com (Regular) 4 th Semester SUBJECT: C 5MC40: COST ACCOUNTING MODULE : BASIC CONCEPTS AND CLASSIFICATION 4 Hours a) Meaning of Cost Accounting, Costing, Cost Accountancy, Cost Management