Certified Cost Accountant

VS-1125
Certified Cost Accountant
www.vskills.in


C CC Certified ertified ertified ertified Cost Accountant Cost Accountant Cost Accountant Cost Accountant
Certification Code Certification Code Certification Code Certification Code VS-1125
Vskills certification for Cost Accountant assesses the candidate as per the companys need
for costing or cost accounting. The certification tests the candidates on arious areas in cost
concepts and classification! materials! la"our costs! oerheads analysis! #o" order costing!
single costing! marginal costing and cost-olume-profit analysis.

$hy should one take this certification% $hy should one take this certification% $hy should one take this certification% $hy should one take this certification%
This Course is intended for professionals and graduates &anting to e'cel in their chosen
areas. (t is also &ell suited for those &ho are already &orking and &ould like to take
certification for further career progression.

)arning Vskills Cost Accountant Certification can help candidate differentiate in today*s
competitie #o" market! "roaden their employment opportunities "y displaying their
adanced skills! and result in higher earning potential.

$ho &ill "enefit from taking this certification% $ho &ill "enefit from taking this certification% $ho &ill "enefit from taking this certification% $ho &ill "enefit from taking this certification%
+o" seekers looking to find employment in finance! costing or ta'ation departments of
arious companies! students generally &anting to improe their skill set and make their CV
stronger and e'isting employees looking for a "etter role can proe their employers the
alue of their skills through this certification.
Test ,etails Test ,etails Test ,etails Test ,etails
,uration- ,uration- ,uration- ,uration- ./ minutes
0o. of 1uestions- 0o. of 1uestions- 0o. of 1uestions- 0o. of 1uestions- 5/
2a'imum marks- 2a'imum marks- 2a'imum marks- 2a'imum marks- 5/! 3assing marks- 25 45/56
There is no negatie marking in this module.
7ee Structure 7ee Structure 7ee Structure 7ee Structure
8s. 9!///:- 4(ncludes all ta'es6
Companies that hire Vskills Companies that hire Vskills Companies that hire Vskills Companies that hire Vskills Cost Accountant Cost Accountant Cost Accountant Cost Accountant
Cost Accountants are in great demand. Companies speciali;ing in finance or manufacturing
are constantly hiring skilled cost accountants. Various pu"lic and priate companies also
need cost accountant for their finance! costing or ta'ation departments.







Certified Cost Accountant
www.vskills.in

Ta"le of Ta"le of Ta"le of Ta"le of Contents Contents Contents Contents

1. Cost Accounting- 2eaning! 0ature and Scope 1. Cost Accounting- 2eaning! 0ature and Scope 1. Cost Accounting- 2eaning! 0ature and Scope 1. Cost Accounting- 2eaning! 0ature and Scope
1.1 Costing, Cost Accounting and Cost Accountancy
1.2 Financial Accounting and Cost Accounting
1.3 Cost Accounting and Management Accounting
1.4 Costing and Installation of Costing System

2. 2. 2. 2. Cost Concepts and Classifi Cost Concepts and Classifi Cost Concepts and Classifi Cost Concepts and Classification cation cation cation
2.1 Cost, Expense and Loss
2.2 Cost Classifications
2.3 Cost Centre and Cost units
2.4 Element of Total Cost
2.5 Total Cost Components

9. 9. 9. 9. 2aterials 2aterials 2aterials 2aterials
3.1 Store-keeping
3.2 Material Handing
3.3 Issue of Material

<. <. <. <. =a"our =a"our =a"our =a"our
4.1 Control over Labour Costs
4.2 Time-Keeping Department
4.3 Idle Time
4.4 Payroll Department
4.5 Time Rate System
4.6 Piece Rate System
4.7 Casual Workers

5. 5. 5. 5. >erheads- Analysis! ,istri"ution and Control >erheads- Analysis! ,istri"ution and Control >erheads- Analysis! ,istri"ution and Control >erheads- Analysis! ,istri"ution and Control
5.1 Accounting and Control
5.2 Bases of Apportionment
5.3 Under and Over-absorption of Overheads
5.4 Administrative Overheads

.. .. .. .. Single 4>utput6 Costing Single 4>utput6 Costing Single 4>utput6 Costing Single 4>utput6 Costing
6.1 Cost Procedure
6.2 Cost Sheet
6.3 Tenders and Quotations

?. ?. ?. ?. +o" order Costing +o" order Costing +o" order Costing +o" order Costing
7.1 Batch Costing
7.2 Contract Costing
7.3 Applications of Jobs Order Costing
Certified Cost Accountant
www.vskills.in

@. @. @. @. 3rocess Costing 3rocess Costing 3rocess Costing 3rocess Costing
8.1 Joint and By-Products
8.2 By-Products

A. A. A. A. 8econciliation of Cost and 7inancial Accounts 8econciliation of Cost and 7inancial Accounts 8econciliation of Cost and 7inancial Accounts 8econciliation of Cost and 7inancial Accounts
9.1 Difference between Cost and Financial Accounts
9.2 Different Accounting Treatment
9.3 Memorandum Reconciliation Account

1/. 1/. 1/. 1/. 2arginal Costing and Cost 2arginal Costing and Cost 2arginal Costing and Cost 2arginal Costing and Cost- -- -Volume Volume Volume Volume- -- -3rofit Analysis 3rofit Analysis 3rofit Analysis 3rofit Analysis
10.1 Absorption Costing
10.2 Marginal Costing
10.3 Income Measurement under Absorption and Marginal Costing
10.4 Marginal Costing and Differential Costing
10.5 Margin of Safety
10.6 Key Factor






























Certified Cost Accountant
www.vskills.in

Sample Buestions Sample Buestions Sample Buestions Sample Buestions
1. 1. 1. 1. A #o" order costing system &ould pro"a"ly "e appropriate for a firm that A #o" order costing system &ould pro"a"ly "e appropriate for a firm that A #o" order costing system &ould pro"a"ly "e appropriate for a firm that A #o" order costing system &ould pro"a"ly "e appropriate for a firm that
produces- produces- produces- produces-
A. Automo"iles.
C. Stained glass &indo&s.
C. Video cassettes.
,. 2icrocomputers

2 22 2. . . . Suppo Suppo Suppo Suppose your accounting te't"ook is the cost o"#ect of concern. The paper used se your accounting te't"ook is the cost o"#ect of concern. The paper used se your accounting te't"ook is the cost o"#ect of concern. The paper used se your accounting te't"ook is the cost o"#ect of concern. The paper used
to print the te't"ook is a4n6- to print the te't"ook is a4n6- to print the te't"ook is a4n6- to print the te't"ook is a4n6-
A. 7i'ed cost.
C. =a"or cost.
C. ,irect cost.
,. (ndirect cost.

9 99 9. . . . An e'ample of a period cost is- An e'ample of a period cost is- An e'ample of a period cost is- An e'ample of a period cost is-
A. Salary of a production superisor.
C. 8a& materials used in production.
C. 3roperty ta'es on a factory "uilding.
,. Adertising and promotion e'penditures.

< << <. . . . An e'ample of a product cost is- An e'ample of a product cost is- An e'ample of a product cost is- An e'ample of a product cost is-
A. Adertising e'pense for the product.
C. A portion of the president*s trael e'pense.
C. (nterest e'pense on a loan to finance inentory.
,. 3roduction line maintenance costs.

5 55 5. . . . Costs may "e allocated to a product or actiity for many purposes! "ut care must Costs may "e allocated to a product or actiity for many purposes! "ut care must Costs may "e allocated to a product or actiity for many purposes! "ut care must Costs may "e allocated to a product or actiity for many purposes! "ut care must
"e e'ercised &hen using allocated costs "ecause- "e e'ercised &hen using allocated costs "ecause- "e e'ercised &hen using allocated costs "ecause- "e e'ercised &hen using allocated costs "ecause-
A. ,irect costs identified &ith the product or actiity may not "e accurately assigned.
C. 7i'ed costs &ill change in total if the olume of actiity changes.
C. All costs may not hae "een allocated to the product or actiity.
,. Ar"itrarily allocated costs may not "ehae in the &ay assumed in the allocation method.


Answers: 1 (B), 2 (B), 3 (D), 4 (D), 5 (D)