K. J.
SOMAIYA COLLEGE OF ARTS AND COMMERCE
(Autonomous)
VIDYAVIHAR, MUMBAI
MUMBAI-77
Re-accredited
accredited by NAAC with ‘A’ grade and CGPA: 3.33
College with Potential for Excellence by UGC
(Affiliated to University of Mumbai)
SYLLABUS
AND
SCHEME OF EXAMINATION
Program: B.Com (Third Year)
Course: Financial Accounting & Auditing
SEM VI
As per
CHOICE BASED CREDIT AND GRADING SYSTEM
(75-25 Marks Pattern)
(With effect from the Academic Year: 2021-2022)
K J Somaiya College of Arts and Commerce (Autonomous), Vidyavihar, Mumbai -400077 1
1. Name of the Programme : B.Com
2. Paper No. : Paper IX
3. Course Title : Cost Accounting
4. Code of the Course : UBCOMTSVI.2
5. No. of Credits : 04
6. No. of lectures : 60
7. No. of lectures per week : 04
Preamble:
The course is introduced to make the student aware of the cost accounting, cost record
maintenance principles, methodology and practical exposure. Also, enhance the analytical
ability & help in informed decision making.
Objectives:
1. To provide adequate basic understanding about accounting and financial education to
the students.
2. To emphasize on conceptual knowledge and thereby prepare for professional courses
and make them employable in the fields of accounting and finance.
Course Outcomes:
At the end of the Sem VI students will be able to:
CO1: Describe the meaning and application of CVP analysis, Break
Break-even
even point, Margin of
safety.
CO2: Analyse and compute variances related to Material and Labour.
CO3: Apply cost accounting methods for manufacturing industry.
CO4: Calculate the cost of contract, Progress payment, Retention money, Value of work
certified and uncertified etc.
K J Somaiya College of Arts and Commerce (Autonomous), Vidyavihar, Mumbai -400077 2
Modules Title
Module 1 Contract Costing 15 Lectures
Progress payments, Retention money, Contract accounts, Accounting for
material, Accounting for Tax deducted at source by the contractee,
Accounting for plant used in a contract, treatment of profit on incomplete
contracts, Contract profit and Balance sheet entries.
Excluding Escalation clause
Note: Simple Practical Problems
Module 2 Process Costing 25 Lectures
Process loss, Abnormal gains and losses, Joint products and by products,
Equivalent units, Inter - process profit
Note: Simple Practical Pr
Problems
Module 3 Introduction to Marginal Costing
C 08 Lectures
Marginal costing meaning, application, advantages, limitations,
Contribution, Breakeven analysis and profit volume graph.
Note:- Simple Practical problems based on Marginal Costing excluding
decision making
Module 4 Introduction to Standard Costing
C 08 Lectures
Various types of standards, setting of standards, Basic concepts of Material
and Labour variance analysis.
Note:-Simple
Simple Practical problems based on Material and labour var
variances
excluding sub variances and overhead variances
Module 5 Some emerging concepts of cost ac
accounting 04 Lectures
Target costing
Life cycle costing
Benchmarking
ABC costing
K J Somaiya College of Arts and Commerce (Autonomous), Vidyavihar, Mumbai -400077 3
Evaluation Pattern:
The Performance of the learners shall be evaluated in two parts – Internal Assessment with
25% marks in the first part and semester end examination with 75%marks in the second part.
The allocation of marks for the internal assessment and Semester End examination are as
shown below:
Scheme of Examination
ination (Internal)
1) Class test – Online exam 20 Marks
2) Active participation
05 Marks
Sample of MCQs for internal assessment (Each question carries 1 marks)
1. Sales- Variable cost __
a) Fixed cost b) Contribution c) Break
Break-even point
2. Input - Normal loss =
a) Normal output b) Actual output c) Break-even
Break point
Scheme of Examination (External)
Duration : 2 ½ Hrs.
Q. 1 Objective Questions 15 Marks
A) Sub Questions to be asked 10 and to be answered any 08
B) Sub Questions to be asked 10 and to be answered any 07
(*Multiple choice / True or False / Match the columns, Fill
in the blanks)
Q.2 Full Length Practical Question 15 Marks
OR OR
Q.2 Full Length Practical Question 15 Marks
K J Somaiya College of Arts and Commerce (Autonomous), Vidyavihar, Mumbai -400077 4
Q.3 Full Length Practical Question 15 Marks
OR OR
Q.3 Full Length Practical Question 15 Marks
Q.4 Full Length Practical Question 15 Marks
OR OR
Q.4 Full Length Practical Question 15 Marks
Q.5 A) Theory questions 8 Marks
B) Theory questions 7 Marks
OR
Q.5 Short Notes
To be asked 05 15 Marks
To be answered 03
Note: Full length question of 15 marks may be divided into two sub questions of 08 and 07
marks.
References:
1. Ravi M. Kishore (2016), “Cost And Management Accounting”, 6th Edition , Taxman
Publication.
2. M.C. Shukla,
hukla, T.S. Agrawal and Dr. M.P. Gupta(2014), “Cost Accounting”, Revised
Edition, S. Chand Publication.
3. Dr. P.C. Tulsian(2011), “Introduction to Cost Accounting”, First Edition, S. Chand &
Co. Ltd.
4. P.V. Rathnam(2006), “Cost and Management Accounting”, 4th Edition, Kitab Mittal.
5. M.N. Arora(2008), “Cost and Management Accounting”, 4th Edition, Himalaya
Publishing House.
6. A.A. Ansari and J.C. Varshney(2008), “Financial and Cost Accounting”, First
Edition, Wisdom Publication.
7. M.R. Agrawal(2011), “Cost and Management Accounting”, Revised Edition, Garima
Publication.
8. ICAI(2017), “Cost and Management Accounting for Intermediate”, July 2017
Edition, ICAI.
Composition
omposition of Subject Board 2020-21
2020
K J Somaiya College of Arts and Commerce (Autonomous), Vidyavihar, Mumbai -400077 5
Head of Department Dr. Deelip Palsapure
Head of Commerce department
K. J. Somaiya college of Arts & Commerce,
Autonomous
Faculty from the department Dr. Mayuresh Mule
CA. Ketaki Ketkar
Subject Expert (Nominated by CA. Uday Shetty
Vice-chancellor) Associate Professor, RDAV College,
Bhandup
Subject Expert (Nominated by CA. (Dr.) Varadraj Bapat
Academic Council) Faculty of Finance, SJM School of Mgt.
Dr..Shital Mandhare
Assistant Professor, SNDT, Mumbai
Industry Representative Prof. Issac Jacob
SISMR, Vidyavihar
Student Alumnus Mr. Chetan Patil
M.Com. Part II
Ms. Divya Panchal
M.Com. Part II
K J Somaiya College of Arts and Commerce (Autonomous), Vidyavihar, Mumbai -400077 6
