Costing

Terry Lucey has been an accountant and consultant in industry and has had over twenty years examining and teaching experience at all levels of professional studies and for diploma and degree courses in business studies.

Section 1 What is costing; The Framework of Cost Accounting; Classification and Coding; Materials - Purchasing, Reception and Storage; Materials - Stock Recording and Inventory Control; Materials - Pricing Issues and Stocks. Section 2 Labour - Renumeration methods: Labour - Recording, Costing and Allied Procedures; Overheads; Cost Accounts. Section 3 Costing Methods: Introduction; Costing methods - Job and Batch costing; Costing methods - Contract costing; Costing methods - Operation and service costing; Costing methods - Process costing; Costing methods - Joint product and by-product costing. Section 4 Planning, Control and Decision Making: Cost behaviour; Marginal and Absorption Costing; Short Run Decision Making; Break Even Analysis; Capital Investment and Appraisal. Section 5 Budgets: Standard Costing - Introduction; Standard Costing - variance analysis (Material, labour and overheads); Standard Costing - variance analysis (Sales and standard Marginal costs); Uniform costing; Costing and Computers. Case Exercises: Examination Technique; Solutions to Exercises and Examination Questions.