Elements of Costing Study Materials 2020 – Download Study Notes PDF
Download Elements of Costing Study Materials 2020. In this article, we are going to provide the Study Notes for Management Studies. Students of B.Com can download these Study Materials which will be useful for their Exam Preparation. Through this article, we are going to provide the Elements of Costing Study Materials, Study Notes, PDFs, Chapters & Topics, Important Questions in this topic and Download Links. Continue reading the below article for more information regarding the Management Studies Notes.
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Table of Contents
Elements of Costing Study Materials
| Name of the Subject | Elements of Costing |
| Category | Management Studies |
| Useful for | B.Com |
| Course Type | Under Graduation |
| Article on | Study Materials 2020 |
| Study Material Format | |
| Download Other Study Materials | Click Here |
Chapters and Topics
Basic Concepts
- Nature and Scope
- Concept of Cost and Its Ascertainment
Materials and Labour
- Procurement, Storage, and Issue
- Inventory Control
- Pricing the Issue of Materials
- Labour
Overheads
- Classification and Distribution of Overheads
- Absorption of Factory Overheads
- Treatment of Other Overheads
Methods of Costing
- Costing
- Reconciliation of Cost and Financial Accounts
- Job and Contract Costing
- Process Costing
Cost Accounting Study Notes
| Subject | Download Links |
| Elements of Costing | Click Here |
| Download | |
| Click Here |
Unit wise PDFs – Elements of Costing Study Books
Here we have mentioned the unit wise PDFs of Elements of Costing subject. Click on the below link to download it :
| Units | Download Links |
| Basic Concepts | Download |
| Materials and Labour | Download |
| Overheads | Click Here |
| Methods of Costing | Download |
Subject to the Universities
This subject will be useful to the students of B.Com. The following university students can also download these materials :
- University of Calicut
- EIILM University
- IGNOU
- Rai Technology University
- Pondicherry University
Subject in the Semesters
Elements of Costing subject will be studied by the students in the following semesters of their respective courses :
- B.Com IV Semester
- MBA I Semester
Important Questions
We have mentioned some of the important questions on Elements of Costing subject :
- Why do we need an effective system of cost accounting in a business enterprise?
- Define the term ‘Cost Centre’. Analyze the importance of selecting suitable cost centers.
- Why do we need to qualify ‘cost’? Discuss.
- What do you understand by direct material and indirect material? Give examples.
- What do you understand by inventory control? What are its objectives?
- Define overheads. What are the various methods of classifying overheads? Discuss “functional classification.
- What are standing order numbers? Explain various sources used for collection of overheads.
- What do you mean by ‘absorption of overheads’? Describe briefly the various methods of absorption of factory overheads.
- How do you classify and apportion selling and distribution overheads? How are the selling overheads absorbed by cost units?
- Define Unit Costing. Mention the industries to which this method of costing is applicable.
- What is a cost sheet? In what respect does it differ from a Production Account?
- Define job costing and describe its special features.
- Distinguish between job costing and process costing.
- Explain the meaning of normal and abnormal process losses and state how they are treated in cost accounts.
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