K. J.
SOMAIYA COLLEGE OF ARTS AND COMMERCE
(Autonomous)
VIDYAVIHAR, MUMBAI-400077
Re-accredited by NAAC with ‘A’ grade and CGPA 3.04
(Affiliated to University of Mumbai)
SYLLABUS
AND
SCHEME OF EXAMINATION
Program: B.Com. (Third Year)
Course Type: DSC
Course Name: Cost Accounting – I
Semester V
As Per
CHOICE BASED CREDIT AND GRADING SYSTEM
(60:40 Pattern)
(With effect from the Academic Year 2025-2026)
K J Somaiya College of Arts and Commerce
(Autonomous), Affiliated to University of Mumbai
Vidyavihar (E), Mumbai-400077, India P: (91-22) 21022915
E: principal.kjsac@somaiya.edu E: kjsac.somaiya.edu
1. Name of the Programme : B.Com.
2. Course Title : Cost Accounting – I
3. Code of the course : BCACDS13-25
4. No. of Credits : 03
5. No. of Lectures : 45
6. No. of Lectures per week : 03
Preamble:
Cost Accounting is a paper under Major. The course is introduced to make the students aware
of the cost accounting, cost records maintenance principles, methodology and practical
exposures. Also enhance the analytical ability and help in informed decision making.
Objectives:
1. To impart fundamental understanding of cost accounting principles.
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 Semester V students will be able to:
CO1: Acquire knowledge of pertinent theories, concepts, and principles related to cost
accounting.
CO2: Identify and classify the different elements of costs for effective managerial decisions.
CO3: Recognize and compute the monetary worth of business resources, particularly human
resources.
CO4: Use the cost accounting techniques to improve industrial performance.
K J Somaiya College of Arts and Commerce
(Autonomous), Affiliated to University of Mumbai
Vidyavihar (E), Mumbai-400077, India P: (91-22) 21022915
E: principal.kjsac@somaiya.edu E: kjsac.somaiya.edu
Syllabus
Modules Title No. of
Lectures
1 Introduction to Cost Accounting 05
1.1 Objectives and Scope of Cost Accounting
1.2 Cost Centres and Cost Units
1.3 Cost Classification for stock valuation, profit measurement,
decision making and control
1.4 Elements of Costs
2 Material Cost 10
2.1 Procurement procedures— Store procedures and
documentation in respect of receipts and issue of stock, Stock
verification
2.2 Inventory control —Techniques of fixing of different stock
levels, Economic Order Quantity, ABC classification.
Simple practical problems based on Calculation of EOQ and
Stock Levels
3 Labour Cost 10
3.1 Attendance and payroll procedures, Overview of statutory
requirements, Overtime, Idle time and Incentives.
3.2 Utilisation of labour, Direct and indirect labour, Charging of
labour cost, identifying labour hours with work orders or batches
or capital jobs
Simple practical problems on preparation of Labour Cost
Statement and Labour Earnings
4 Overheads 10
4.1 Functional Analysis – Factory, Administration, Selling,
Distribution
4.2 Behavioural Analysis – Fixed, Variable and Semi-Variable
Simple practical problems on:
a) Departmentalization and apportionment of overheads
K J Somaiya College of Arts and Commerce
(Autonomous), Affiliated to University of Mumbai
Vidyavihar (E), Mumbai-400077, India P: (91-22) 21022915
E: principal.kjsac@somaiya.edu E: kjsac.somaiya.edu
b) Computation of overhead rates including machine hour rates
5 Classification of Costs and Cost Sheets 10
5.1 Classification of Costs, Cost of Sales, Cost Centre, Cost Unit,
Profit Centre and Investment Centre
5.2 Cost Sheet, Total Costs and Unit Costs
Practical problems on preparation of cost sheet
EVALUATION PATTERN:
The performance of the learners shall be evaluated in two parts – Internal Assessment with
40% marks in the first part and semester end examination with 60% marks in the second part.
The allocation of marks for the Internal assessment and Semester End examination are as
shown below:
Scheme of Examination (Internal)
Class Test/Assignment/Project/Report Writing/VIVA and active 30 Marks
participation
Scheme of Examination (External)
Maximum Mark: 45
Questions to be set: 04
Duration: 1 ½ Hours.
All questions are compulsory
Q. 1 A) Objective Questions 15 Marks
(*Multiple choice / True or False / Match the columns, Fill in
the blanks) (Any 7 out of 10)
B) Short Notes (Any 2 out of 4)
Q.2 Full Length Practical Question 10 Marks
OR OR
Q.2 Full Length Practical Question 10 Marks
Q.3 Full Length Practical Question 10 Marks
OR OR
K J Somaiya College of Arts and Commerce
(Autonomous), Affiliated to University of Mumbai
Vidyavihar (E), Mumbai-400077, India P: (91-22) 21022915
E: principal.kjsac@somaiya.edu E: kjsac.somaiya.edu
Q.3 Full Length Practical Question 10 Marks
Q.4 Full Length Practical Question 10 Marks
OR OR
Q.4 Full Length Practical Question 10 Marks
Note: Full length question of 10 marks may be divided into two sub questions.
References:
1. Ravi M. Kishore (2016), “Cost And Management Accounting”, 6th Edition , Taxman
Publication.
2. M.C. Shukla, 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.
ICAI(2017), “Cost and Management Accounting for Intermediate”, July 2017 Edition, ICAI.
K J Somaiya College of Arts and Commerce
(Autonomous), Affiliated to University of Mumbai
Vidyavihar (E), Mumbai-400077, India P: (91-22) 21022915
E: principal.kjsac@somaiya.edu E: kjsac.somaiya.edu
COMPOSITION OF SUBJECT BOARD 2025-26
Head of Department CA Ketaki Ketkar
Head, Department of Accountancy
K. J. Somaiya college of Arts & Commerce,
Autonomous
Faculty from the department CA Nileshkumar Agarwal
Shri Mayur Shelke
CA Amol Bhosale
Dr Rahul Jagtap
Subject Expert (Nominated by Dr. Sunita Sherifani
Vice-chancellor) Professor,
VES College of Arts, Science & Commerce
Subject Expert (Nominated by CA (Dr.) Varadraj Bapat
Academic Council) Faculty of Finance, SJM School of Mgt.
Dr. Pramila Patil
Associate Professor, SNDT, Pune
Industry Representative CA Ronak Agarwal
Senior Partner - Abhishek Agrawal & Associates
Certified Public Accountant (CPA), USA
Student Alumnus CA Uday Shetty
Retd. Associate Professor, RDAV College
Ms. Bhagyashree Chiplunkar
Head, Compliance & CMT,
N N Agarwal & Co.
Chartered Accountant
K J Somaiya College of Arts and Commerce
(Autonomous), Affiliated to University of Mumbai
Vidyavihar (E), Mumbai-400077, India P: (91-22) 21022915
E: principal.kjsac@somaiya.edu E: kjsac.somaiya.edu
