Alliance School of Law

B.B.A., LL.B (Hons.)

Course Outline

Subject Name Cost and Management Accounting

Subject Code NLAW 162
Credits 4
Summary/ The subject deals with Cost accounting and Management accounting pertaining to
Overview pricing decisions, profit planning and control
The subject aims at imbibing the knowledge to the students in order to make them
Aim/Object
industry ready for taking necessary decisions
Prof. Nusrathunnisa
Office: Dean’s Office
Phone: 0091-80-30938206
Instructor
E-mail: nusrathunnisa.i@alliance.edu.in
Dr. Abdul Hameed
E-mail: abdul.hameed@alliance.edu.in
Office Hours 2:30 pm to 4:00 pm – Friday ( Prof. Nusrathunnisa)
The course is offered for Four credits (4) which comprises 48 teaching session as
per the norms of the Bar Council of India. Each session is consists of One Hour
and Fifteen Minutes. The Class will meet regularly as per the prescribed schedule
Approach to fixed by the ASOL Dean’s office. The method of teaching will be based on
Learning Socratic methods, which further consist of formal lectures, case study analysis,
audio visual presentations and problem solving. Core reading materials will be
provided by the teacher. Students are expected to complete readings assigned on
the specific topic and on time. You are expected to take notes on readings, and
contribute to the class discussions Students are expected to read the essential
reading before to attend the class. Credits are allocated to your class presentation
and discussion.
Assessment of this course divided between written examination and research
project.
 Written Examination: Written examination component further divided into
two parts which consist of Mid Semester Examination (MSE) which will be
Assessment
held during the semester and Semester End Examination (SEE). MSE of 45
Strategy marks for 2 hours, the weightage of 15 percent of the total grade will be taken
into consideration. The students will receive the notification of the examination
from the ASOL Dean’s office. The Semester End Examination (SEE) which
consists of 100 marks and the duration of 3 hours to answer the questions, out
of which 50 percent weightage will be taken into consideration. The instructor
 will provide tips and technics to write thematic and problem based answers
during the class.
 Class Test: Class test consists of 10 Marks of the total marks. Exact dates will
be informed by the teacher. Modalities of the class test can be discussed and
agreed with the class.
 Classroom Attendance (CA): Classroom attendance 5 Marks and
participation comprises of 5 Marks based on your attendance and your
participation in the class marks will be awarded.
 Assignment: Chapter wise assignment will be given by the instructor and
evaluated time to time and assessed for 10 Marks.

Assessment Description of Weight

No. Duration and Marks of Examination
Method Assessment Method %

2 hours and 45 Marks in which 15

1 MSE Written Examination 15
percent weightage
2 AT Class Attendance 5 Throughout the Course

Case Studies/Project
3 CS/PR/CP Report/ Class 30 Throughout the Course
Presentation and viva

4 Semester End 3 hours and 100 marks from which 50

Written Examination 50
Examination percent weightage will taken

Unit
Outline Of The Teaching Schedule
Number
Introduction to Cost and Management Accounting
(4 Teaching Sessions)
• Cost Accounting: Evolution, Meaning, Objectives and Scope
• Concepts of Costs, Classifications and Elements of Cost
• Cost Centre and Cost Unit
• Methods and Techniques of Costing
I
• Role of Cost Accountant in Decision Making
• Management Accounting: Evolution, Meaning, Objectives and Scope
• Tools and Techniques of Management Accounting
• Relationship of Cost Accounting, Financial Accounting and Management
Accounting
• Role of Management Accountant in Decision Making.
 Material Cost
(6 Teaching Sessions)
• Materials Control – Concept and Techniques
II • Methods of Pricing of Material: FIFO, LIFO and Weighted Average
• Inventory Management: Techniques of fixing of minimum,
maximum and reorder levels, Economic Order Quantity, ABC
Analysis; Stock Verification and Perpetual Inventory
Labour Cost
(6 Teaching Sessions)
III • Meaning and Classification of Labour Costs
• Efficiency Rating Procedures; Remuneration Systems and Incentive Schemes – Halsey
and Rowan plans
Overheads
(6 Teaching Sessions)
• Functional Analysis: Factory, Administration, Selling and
IV
Distribution overheads
• Behavioural Analysis: Fixed, Variable and Semi- variable overheads
• Apportionment and Absorption of Overheads
Costing Systems
(6 Teaching Sessions)
V • Unit costing - Preparation of Cost Sheet
• Process Costing: Features, Applications and Types of Process
Costing, Process Loss, Abnormal Gains and Losses
Standard Costing
(6 Teaching Sessions)
VI • Definition, Significance and Applications
• Various Types of Standards
• Variance Analysis for Material and Labour
Budgeting and Budgetary Control
(6 Teaching Sessions)
VII • Budget Concept
• Cash and Flexible Budgets
• Budgetary Control, Advantages and Limitations
Analysis and Interpretation of Financial Statements
(8 Teaching Sessions)
VIII • Ratio Analysis: Liquidity, Leverage, Turnover and Profitability
ratios
• Cash Flow Statement as per AS-3
Total 48 Active Teaching Sessions
Recommended Readings and References
M.N. Arora: Cost and Management Accounting (Theory and Problems); Himalaya Publishing House,
Ramdoot, Dr. Bhalerao Marg, Kelewadi, Gurgaon, Mumbai-400 004.
S.N. Maheshwari : Cost and Management Accounting; Sultan Chand & Sons, 23, Daryaganj, New
Delhi -110 002
M.Y. Khan & P.K. Jain: Theory and Problems of Management and Cost Accounting; McGraw-Hill
Education (India) Ltd. B-4, Sector 63, Gautam Budh Nagar, Noida – 201 301.
Jawaharlal: Cost Accounting; McGraw-Hill Education (India) Ltd. B-4, Sector 63, GautamBudh
Nagar, Noida – 201 301.
C.T. Horngren : Cost and Management Accounting - A Managerial Emphasis; Pearson Education
Asia, 482, F.I.E. Patparganj, Delhi-110 092.