Department of Commerce in Autumn 2006 Semester Allama Iqbal Open University was taken BA final Exams through various types of papers on different subjects, BA Paper 462 Cost Accounting was one of them. Paper time was three hours and out of hundred marks students were required to get at least forty marks to pass this paper.
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Important Topics of the subject:
Basics of Cost accounting, Semi Variable Cost, Cost Centre, Controllable Costs, Absorption Costing, Marginal Costing. understanding transactions, importance of Ledger and General Ledger, Superintendence, Direct and Indirect labour cost, Payroll, Manufacturing supplies and raw material costs, Requisitions, employees social security tax, income tax deduction, Overhead costs, transfer Vouchers, Depreciation, Electricity power and gas costs, Goods costing, Recording Journal entries, F.O.H Costs, Preparation of cost of production report, Rent costs, Apportion the costs, equitable apportion, H.P of machines, contribution-margin ratio, Miscellaneous expenses, types of budgets are prepared in manufacturing concern, predetermined overhead rate calculation method, fixed and variable F.O.H, Spending and Idle Capacity Variance, Calculation of re-order point, Calculation of EOQ, Sold Components by a company, break-even point, target net profit, the break-even sales revenue, principles in determining Piece Rates, labour turnover, Separation, Flux and replacement methods usage to calculation labour turnover, an Epension scheme, Preparation and understating a balance sheet, Inventory balances, cost of Finished goods inventory and Work in Progress, Net & Gross Profit on sales, Loss and insurance policies importance etc. Importance of Cost accounting for Management.
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