Institute of Commercial Management | Qualification Subject

Cost Accounting

Main Topics of Study

Introduction and Materials

  • What is costing?
  • Framework
  • Classification and coding
  • Purchasing, reception and storage
  • Stock recording and inventory control
  • Pricing issues and stock

Labour and Overheads

  • Remuneration methods
  • Recording, costing and allied procedures
  • Overheads
  • Cost accounts

Costing Methods

  • Introduction
  • Job and batch
  • Contract
  • Operation and service
  • Process
  • Joint and by-product

Planning, Control and Decision Making

  • Cost behaviour
  • Marginal and absorption costing
  • Short run decision making
  • B E analysis
  • Capital investment appraisal

Budgets & Standards

  • Budgets
  • Introduction to standards
  • Material, labour and overhead variances
  • Sales and standard marginal costs variances
  • Activity-based costing

Recommended Reading

Main Text:

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Costing – T Lucey (Continuum)

Indicative Text:

Alternative Text and Further Reading:

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Cost Accounting – Glautier & Underdown (Pitman)

Finance & Accounting – Giles & Capel (Macmillan)