Practical Guide to Costing - A Panoramic view of Application of Cost Accounting Principles

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Description
HIGHLIGHTS ABOUT OF BOOK :
*    Application of Cost Accounting Principles to Ascertain Various Cost Elecments
*    Application of Cost Accounting Principles to Allocate, Apportion and Absorb Various Cost Elements
*    MIS Reports to Monitor, Control & Reduce Various Cost Elements
*    Check List To Audit Various Cost Elements
*    Other Costing Related Areas
*    Useful to Professionals (CA, CMA & CS), Corporate Executives, Engineers, Energy Auditors etc
*    Easy to Use Formats
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Contents
PART - I Application of Cost Accounting Principles to Build Up Cost Record
1.1    Application of Cost Accounting Principles to Ascertain Cost of Electricity Generated by Diesel
        Generating Set
1.2    Application of Cost Accounting Principles to Ascertain Cost of Filtered Water
1.3    Application of Cost Accounting Principles to Ascertain Cost of Demineralised Water
1.4    Application of Cost Accounting Principles to Ascertain Cost of Steam Generated by Boiler
1.5    Application of Cost Accounting Principles to Ascertain Cost of Cooling Water
1.6    Application of Cost Accounting Principles to Ascertain Cost of Compressed Air Generated
         by Air Compressor Plant
1.7    Application of Cost Accounting Principles to Ascertain operating cost of Effluent Treatment Plant
1.8    Check List to Build up Product Cost Sheet
PART - II   Application of Cost Accounting Principles to Allocate, Apportion and Absorb
                    Various Cost Elements
2.1     Application of Cost Accounting Principles to Allocate, Apportion & Absorb the Raw Material Cost
2.2    Application of Cost Accounting Principles to Allocate, Apportion & Absorb the Natural Gas Cost    
2.3    Application of Cost Accounting Principles to Allocate, Apportion & Absorb the Cost of Electricity   
         Generated by Diesel Generating Set
2.4    Application of Cost Accounting Principles to Allocate, Apportion & Absorb Cost of Filtered Water
2.5    Application of Cost Accounting Principles to Allocate, Apportion & Absorb the Cost of
          Demineralised Water
2.6    Application of Cost Accounting Principles to Allocate, Apportion & Absorb Cost of Steam
          generated by boiler   
2.7    Application of Cost Accounting Principles to Allocate, Apportion & Absorb the Cost of Cooling Water
2.8    Application of Cost Accounting Principles to Allocate, Apportion & Absorb Operating Cost of Effluent
          Treatment Plant    
2.9    Application of Cost Accounting Principles to Allocate, Apportion & Absorb the Expenses on
          Stores & Spares
2.10   Application of Cost Accounting Principles to Allocate, Apportion & Absorb the Expenses on   
          Repaires & Maintenance    
2.11   Application of Cost Accounting Principles to Allocate, Apportion & Absorb Employee Cost
2.12   Application of Cost Accounting Principles to Allocate, Apportion & Absorb Insurance Cost
2.13   Application of Cost Accounting Principles to Allocate Apportion & Absorb the Depreciation Cost    
2.14   Application of Cost Accounting Principles to Allocate, Apportion & Absorb Administrative
           Overheads
2.15   Application of Cost Accounting Principles to Allocate, Apportion & Absorb Selling & Distribution
           Overheads
2.16   Application of Cost Accounting Principles to Allocate, Apportion & Absorb Packing Material Cost
PART - III    MIS Report to Monitor, Control & Reduce Various Cost Elements
3.1    MIS Report to Monitor & Optimise Production & Capacity Utilisation
3.2    MIS Reports for Monitoring, Controlling & Reducing Raw Material Cost - I
3.3    MIS Reports for Monitoring, Controlling & Reducing Raw Material Cost - II
3.4    MIS Reports to Monitor, Control & Reduce Electricity Cost
3.5    MIS Reports to Monitor, Control & Reduce Filtered Water Cost
3.6    MIS Reports to Monitoring, Controlling & Reducing Demineralisaed Water Cost
3.7    MIS Reports for Monitoring, Controling & Reducing Steam Cost - I
3.8    MIS Reports for Monitoring, Controling & Reducing Steam Cost - II
3.9    MIS Reports for Monitor, Control & Reduce Cooling Water Cost - I
3.10  MIS Reports for Monitoring, Controlling & Reducing Opering Cost of Cooling Water - II
3.11   MIS Reports for Monitoring, Controlling & Reducing Opering Cost of Chilled Water
3.12  MIS Reports for Monitoring, Controlling & Reducing Operating Cost of Air Compressorr
3.13  MIS Reports for Monitoring, Controlling & Reducing Utilities Cost
3.14  MIS Reports for Monitoring, Controlling & Reducing Expenses on Stores & Spares
3.15  MIS Reports for Monitoring, Controlling & Reducing Expenses on Repaires & Maintenance
3.16  MIS Reports for Monitoring and Controlling Fixed Cost
3.17  MIS Report for Monitoring, Controling & Reducing Product Cost
3.18  MIS Report with respect to Inventory Status of Key Raw Materials
3.19  MIS Report with respect to Inventory Status of Key Finished Products which account
         for 70 % to 75 % of Total Sales Revenue
3.20  MIS Reports for Monitoring, Controlling & Reducing Packing Materials Cost
3.21  MIS Reports for Monitoring and Controlling Fixed Cost Incurred By Administration Department
3.22  MIS Report with respect to Balancing of Generation & Consumption of Steam
3.23  MIS Report for Internal Benchmarking to Optimise Profitability
PART - IV    Check List to Audit Various Cost Elements
4.1    Check List to Audit Productwise Production
4.2    Check List to Audit Raw Material Cost
4.3    Check List to Audit Electricity Cost
4.4    Check List to Audit Cost of Electricity Generated by Diesel Generating Set
4.5    Check List to Audit Filtered Water Cost
4.6    Check List to Audit Demineralised Water Cost
4.7    Check List to Audit Steam Cost
4.8    Check List to Audit Cooling Water Cost
4.9    Check List to Audit Compressed Air Cost
4.10  Check List to Audit Chilled Water Cost
4.11  Check List to Audit Expenses on Stores & Spares-4.12 Check List to Audit Expenses on Repaires & Maintenance
4.13   Check List to Audit Employee Cost
4.14   Check List to Audit Expenses on Insurance
4.15   Check List to Audit Expenses on Depreciation
4.16   Check List to Audit Administrative Overheads Costs
4.17   Check List to Audit Selling & Distribution Overheads Costs
4.18   Check List to Audit Packing Material Costs
4.19   Check List to Audit Sales Value
4.20   Check List to Audit Inventory Status of Key Raw Materials
PART - V    Other Cost Related Area
5.1    Necessity & Importance of Raw Materials Inventory Balancing
5.2    Necessity & Importance of Inventory balancing of Stores & Spares
5.3    Necessity & Importance of Packing Materials Inventory Balancing
5.4    Necessity & Importance of Finished Products Inventory Balancing
5.5    Profit Improvement Programmed-l    
5.6    Profit Improvement Programmed-ll
5.7    Check List Containing Action Plan to Improve Raw Material Efficiency
5.8    Check List Containing Action Plan to Optimise Efficiency of Direct Employees & to Optimise Direct Employee Cost
5.9    Check List Containing Action Plan to Improve Efficiency of Selling & Distribution
5.10  Maximum Permissible Cost of Key Raw Material A in Product Cost X to Sustain Given Profitability of Product X
5.11   Need for Reconciliation Between Financial Profits & Costing Profits
5.12   Reasons for Lower Profits / Decline on Profits & Remedies there fore
5.13   Effective Inventory Management Through ABC Analysis
5.14   Raw Material Inventory Valuation - Fifo Vs Weighted Average
5.15   Some Specific Points for Product Costing for MIS Reports
5.16   All About Bills of Matreials
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Author Details
CMA. CS. Rajesh Kapadia is Cost Accountant & Company Secretary with 30 years experience with respect to Establishment of Cost & Management Accountancy System, Establishment of MIS Reports, Budgets, Cost Audit, Inventory Control etc.
He has worked as Head of Costing Functions in Lyka Labs Ltd, Valsad, Atic Industries Ltd, Atul, Valsad & BASF Styrenics Pvt Ltd, Dahej, Bharuch.
Presently he is working with Gujarat Alkalies & Chemicals Ltd, Vadodara (as DGM (F))
Due to his contribution for Cost & Management Accountancy, he has been awarded CMA Achievers Award, 2015 which was presented to him on 28.05.2016 at New Delhi by The Institute of Cost Accountants of India
He states that "This book is the result of my 30 years of experience in Cost & Management Accounting and hopefully it will be found useful by all stake holders - Students, Professionals, Industry or Otherwise."
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