If you're a BCom 4th Semester student at Gauhati University, pursuing Cost and Management Accounting (Major 7) under the NEP FYUGP framework, this blog post provides a detailed overview of the syllabus. This course plays a crucial role in equipping students with the knowledge and skills required for cost analysis, financial decision-making, and performance evaluation within an organization.
Course Overview
Course Name: Cost and Management Accounting (Major 7)
Course Level: 400 to 499
Credit: 4
Total Marks: 100
Course Type: UGCBCS (Existing-Based Syllabus)
Total Contact Classes: 60
Course Objective
The course aims to develop students' understanding of cost and management accounting techniques, enabling them to collect, analyze, and interpret financial and non-financial data for managerial decision-making and control within an organization.
Learning Outcomes
By the end of this course, students will be able to:
Apply cost accounting techniques to determine product costs, analyze cost behavior, and make informed pricing and cost-control decisions.
Implement management accounting systems, including budgeting, variance analysis, and performance measurement, for effective planning and decision-making in organizations.
Detailed Syllabus Breakdown
Unit I: Cost Accounting: Preliminaries (12 Classes, 20 Marks)
Meaning of Cost, Costing, and Cost Accounting
Objectives and Functions of Cost Accounting
Costing as an Aid to Management
Cost Concepts and Classification
Relationship Between Cost Accounting and Financial Accounting
Cost Accounting vs. Management Accounting
Methods and Techniques of Costing
Concept of Cost Audit
Preparation of Cost Sheet
Unit II: Accounting for Material, Labour, and Overhead (12 Classes, 20 Marks)
Material Control
Concept and Techniques of Material Control
Economic Order Quantity (EOQ)
ABC Analysis and VED Analysis
Labour Cost Control
Labour Cost Control Procedures
Labour Turnover, Idle Time, and Overtime
Methods of Wage Payment: Time and Piece Rate
Overheads
Importance and Classification of Overheads
Factory, Administrative, and Selling Overheads
Allocation and Apportionment of Overheads
Absorption of Overhead – Under and Over Absorption (Simple Applications)
Unit III: Management Accounting: Preliminaries (12 Classes, 20 Marks)
Meaning and Objectives of Management Accounting
Role of a Management Accountant in Decision-Making
Management Accounting Techniques:
Ratio Analysis: Meaning, Uses, Significance, and Limitations
Types of Ratios:
Activity Ratios
Liquidity Ratios
Profitability Ratios
Solvency Ratios
Unit IV: Marginal Costing and Budgetary Control (12 Classes, 20 Marks)
Marginal Costing
Meaning and Assumptions of Marginal Costing
Managerial Applications, Advantages, and Disadvantages
Cost-Volume-Profit (CVP) Analysis
Break-Even Analysis (Simple Applications)
Budgeting and Budgetary Control
Meaning of Budget and Budgetary Control
Classification of Budgets: Time, Function, and Flexibility
Master Budget, Flexible Budget, and Cash Budget
Performance Budgeting and Zero-Based Budgeting
Unit V: Standard Costing and Variance Analysis (12 Classes, 20 Marks)
Meaning of Standard Cost & Standard Costing
Advantages of Standard Costing
Standard Costing vs. Budgetary Control
Variance Analysis:
Meaning and Classification
Computation of Variances (Simple Applications)
Recommended Books for Reference
Management and Cost Accounting – Shashi K. Gupta & R.K. Sharma (Kalyani Publishers)
Cost Accounting Principles & Practices – M.N. Arora (Vikas, New Delhi)
Cost Accounting – S.P. Jain & K.L. Narang (Kalyani, New Delhi)
Management Accounting – M.Y. Khan & P.K. Jain (Tata McGraw Hill)
Final Thoughts
The Cost and Management Accounting (Major 7) course in the BCom 4th Semester under Gauhati University’s NEP FYUGP syllabus provides essential knowledge for students aspiring to work in finance, cost analysis, and business management. Mastering this subject will help you make informed business decisions, enhance cost control mechanisms, and contribute to financial efficiency in organizations.
For more Gauhati University BCom Notes, Question Papers, and Study Materials, visit The Treasure Notes.