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V SEMESTER, DISCIPLINE SPECIFIC ELECTIVE, Advanced Cost and Management Accounting-I, LTP-4:1:0 5 Hours Per Week, , Course Outcome:, , This paper aims to familiarize students regarding applied cost accounting, methods and techniques in the process and contract accounting. Also, to help, students to understand on operating costing and reconciliation of CA with FA, , Pedagogy:, , e Explaining the various advanced concepts of Cost and Management accounting,, through lecture mode using ICT, , e Solving exercise problems to familiarize the concept of Cost and Management, Accounting, , e¢ Conducting Seminars, Group discussion and analysis of case study to enchase the, knowledge in the subject, , UNIT-1- Introduction to Costing Methods: Meaning, Importance and Categories,, Cost accounting Standards- Generally Accepted Cost Accounting Principles, (GACAP)- Purpose, Objective and Applicability., , UNIT-2- Contract costing: Introduction- Contract account, Profit on incomplete, contracts, work in progress, Contractee’s Accounts, Escalation clause., , UNIT-3-Process costing: Introduction, Distinction between Job costing, and, process costing, process losses, inter-process profits, Joint products and byproducts- Meaning, features, differences, problems on process accounts including, , joint and by products., , UNIT-4-Operating Costing-Introduction, transport costing, standing charges,, operating/running charges, preparations of operating cost sheet., , UNIT-5-Reconciliation of cost and financial accounts-need for reconciliation,, reasons for disagreement, reconciliation procedure, problems on reconciliation., , UNIT-6-Activity based costing(ABC);Defintion,Features, Advantages, Differences, between ABC and traditional costing, Allocation of overheads; Objectives of ABC,, , Development of ABC, Implementation of ABC, Problems on Computation of Activil, Based Costing and Traditional Costing;, , , , BOOKS FOR REFERENCE:, , 1. Cost Accounting: N.K. Prasad, , 2. Cost Accounting: Nigam & Sharma :, , 3. Practical Costing: Khanna, Pandey & Ahuja 4: Cost Accounting: M.L. Agarwal, 4. Cost Accounting: Jain & Narang, , 5. Cost Accounting: S.P. Iyengar