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Advanced Cost and Management Accounting
Thukaram Rao, M.E.
, Principal, Partel Institute of Science and Management, K. Agrahara, Bangalore.
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PRINTED BOOK DETAILS:
ISBN :
978-81-224-3260-2
Publication Year :
2011
Edition :
Ist
Pages :
992
Price :
$ 23.75
Binding : Paperback
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About the Book: |
In the modern world the business organisations have to serve the needs of variety of parties who are interested in the functioning of the business. These parties constitute the owners, creditors, employees, government agencies, tax authorities and last but not the least the management of the business. In order to satisfy the needs of all these group of people a sound organisation of accounting system is very essential. The financial statements i.e., profit & loss account and balance sheet serves the needs of all those who may not directly be associated with management of business. But management of every business organisation is interested to know much more than the usual information which is derived from cost and management accounting. No organisation can stand in the competitive market unless the cost effectiveness is shown.
This book has been divided into two parts where part I deals with cost accounting and part II with management accounting. Part I has six sections containing twenty nine chapters and part II has eight chapters. Section I forms the structure of cost accounting and cost analysis. Elements of cost can be derived from ten chapters in section II. Different heads of cost i.e., material, labour, direct expenses, factory overheads, and office administration, selling and distribution overheads have been discussed at length in separate chapters, Section III of the book is about different methods of costing. Under what circumstances unit costing or job costing or batch costing or contract costing or process costing is required can be better understood in going through the chapters. Due to the increasing services in the country like transport, power, hospitals, banking, cinema etc. service costing has gained a lot of popularity which is discussed in the book in its eighteenth chapter.
In most of the books available, the subject does not incorporate systems of maintaining cost accounts. Ledger accounting system, reconciliation of cost and financial account, and integral accounting are the topics included by the author in section IV of the book. Cost control techniques like marginal costing, CVP analysis, differential costing, budgetary control and standard costing are discussed from chapters twenty two to twenty six. The utility of these techniques is relevant given that organization have to make profit in competitive market through reduced cost while maintaining standards and increased market reach. Big names in the market earn through cost effectiveness plus goodwill (brand name) so generated. Standards must be setup carefully since a low standard does not bring the best performance and high standard is treated with indifference. How to fix standard involves various functional departments and the success lies in performing better than them. Part VI focuses on costing, cost reduction and activity based costing.
The book is primarily aimed at undergraduate programs like B.Com., BBM, BBA and M.Com. The book will be of immense use to the practicing managers in the private and public industries who would like an introduction to the topic.
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About the Author: |
Prof. M.E. Thukaram Rao is Principal in Patel Institute of Science and Management,K. Agrahara, Bengaluru. He is also the visiting faculty at New Horizon Leadership Management, Bengaluru, India. He was head of the Department of Commerce, Sri Sathya Sai University, Brindavan Campus, Bengaluru. He has been teaching the subject of Cost Accounting for the last 35 years to the undergraduate and postgraduate students. He has published ten books on various titles. He is also an examiner of few other universities and professional institutes.
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Contents: |
Nature and Scope of Cost AccountingCost Analysis and ClassificationMaterials Cost—Purchase ControlMaterials Cost—StorekeepingMaterials Cost—Issue ControlLabour Cost ControlLabour Cost AccountingDirect ExpensesFactory OverheadsOffice, Administration, Selling and Distribution OverheadsSingle or Output or Unit CostingJob and Batch CostingContract CostingProcess CostingOperating or Service CostingReconciliation of Cost and Financial AccountingMarginal CostingCost-Volume-Profit AnalysisDifferential CostingBudgetary ControlStandard CostingResponsibility AccountingTransfer PricingActivity Based CostingCost ManagementValue Chain AnalysisTarget CostingLife Cycle Costing
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Audience: |
Management and Commerce,Bestsellers
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