Cost Accountant Certification
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Cost Accountant Certification

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Vskills certification for Cost Accountant assesses the candidate as per the company’s need for costing or cost accounting. The certification tests the candidates on various areas in cost concepts ...

Vskills certification for Cost Accountant assesses the candidate as per the company’s need for costing or cost accounting. The certification tests the candidates on various areas in cost concepts and classification, materials, labour costs, overheads analysis, job order costing, single costing, marginal costing and cost-volume-profit analysis

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Cost Accountant Certification Cost Accountant Certification Document Transcript

  • Certified Cost Accountant VS-1125
  • Certified Cost Accountant www.vskills.in CCCCertifiedertifiedertifiedertified Cost AccountantCost AccountantCost AccountantCost Accountant Certification CodeCertification CodeCertification CodeCertification Code VS-1125 Vskills certification for Cost Accountant assesses the candidate as per the company’s need for costing or cost accounting. The certification tests the candidates on various areas in cost concepts and classification, materials, labour costs, overheads analysis, job order costing, single costing, marginal costing and cost-volume-profit analysis. Why should one take this certification?Why should one take this certification?Why should one take this certification?Why should one take this certification? This Course is intended for professionals and graduates wanting to excel in their chosen areas. It is also well suited for those who are already working and would like to take certification for further career progression. Earning Vskills Cost Accountant Certification can help candidate differentiate in today's competitive job market, broaden their employment opportunities by displaying their advanced skills, and result in higher earning potential. Who will benefit from taking this certification?Who will benefit from taking this certification?Who will benefit from taking this certification?Who will benefit from taking this certification? Job seekers looking to find employment in finance, costing or taxation departments of various companies, students generally wanting to improve their skill set and make their CV stronger and existing employees looking for a better role can prove their employers the value of their skills through this certification. Test DetailsTest DetailsTest DetailsTest Details • Duration:Duration:Duration:Duration: 60 minutes • No. of questions:No. of questions:No. of questions:No. of questions: 50 • Maximum marks:Maximum marks:Maximum marks:Maximum marks: 50, Passing marks: 25 (50%) There is no negative marking in this module. Fee StructureFee StructureFee StructureFee Structure Rs. 3,000/- (Includes all taxes) Companies that hire VskillsCompanies that hire VskillsCompanies that hire VskillsCompanies that hire Vskills Cost AccountantCost AccountantCost AccountantCost Accountant Cost Accountants are in great demand. Companies specializing in finance or manufacturing are constantly hiring skilled cost accountants. Various public and private companies also need cost accountant for their finance, costing or taxation departments.
  • Certified Cost Accountant www.vskills.in Table ofTable ofTable ofTable of ContentsContentsContentsContents 1. Cost Accounting: Meaning, Nature and Scope1. Cost Accounting: Meaning, Nature and Scope1. Cost Accounting: Meaning, Nature and Scope1. Cost Accounting: Meaning, Nature 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 ClassifiCost Concepts and ClassifiCost Concepts and ClassifiCost Concepts and Classificationcationcationcation 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 3.3.3.3. MaterialsMaterialsMaterialsMaterials 3.1 Store-keeping 3.2 Material Handing 3.3 Issue of Material 4.4.4.4. LabourLabourLabourLabour 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. Overheads: Analysis, Distribution and ControlOverheads: Analysis, Distribution and ControlOverheads: Analysis, Distribution and ControlOverheads: Analysis, Distribution and Control 5.1 Accounting and Control 5.2 Bases of Apportionment 5.3 Under and Over-absorption of Overheads 5.4 Administrative Overheads 6.6.6.6. Single (Output) CostingSingle (Output) CostingSingle (Output) CostingSingle (Output) Costing 6.1 Cost Procedure 6.2 Cost Sheet 6.3 Tenders and Quotations 7.7.7.7. Job order CostingJob order CostingJob order CostingJob order Costing 7.1 Batch Costing 7.2 Contract Costing 7.3 Applications of Jobs Order Costing
  • Certified Cost Accountant www.vskills.in 8.8.8.8. Process CostingProcess CostingProcess CostingProcess Costing 8.1 Joint and By-Products 8.2 By-Products 9.9.9.9. Reconciliation of Cost and Financial AccountsReconciliation of Cost and Financial AccountsReconciliation of Cost and Financial AccountsReconciliation of Cost and Financial Accounts 9.1 Difference between Cost and Financial Accounts 9.2 Different Accounting Treatment 9.3 Memorandum Reconciliation Account 10.10.10.10. Marginal Costing and CostMarginal Costing and CostMarginal Costing and CostMarginal Costing and Cost----VolumeVolumeVolumeVolume----Profit AnalysisProfit AnalysisProfit AnalysisProfit 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 QuestionsSample QuestionsSample QuestionsSample Questions 1.1.1.1. A job order costing system would probably be appropriate for a firm thatA job order costing system would probably be appropriate for a firm thatA job order costing system would probably be appropriate for a firm thatA job order costing system would probably be appropriate for a firm that produces:produces:produces:produces: A. Automobiles. B. Stained glass windows. C. Video cassettes. D. Microcomputers 2222.... SuppoSuppoSuppoSuppose your accounting textbook is the cost object of concern. The paper usedse your accounting textbook is the cost object of concern. The paper usedse your accounting textbook is the cost object of concern. The paper usedse your accounting textbook is the cost object of concern. The paper used to print the textbook is a(n):to print the textbook is a(n):to print the textbook is a(n):to print the textbook is a(n): A. Fixed cost. B. Labor cost. C. Direct cost. D. Indirect cost. 3333.... An example of a period cost is:An example of a period cost is:An example of a period cost is:An example of a period cost is: A. Salary of a production supervisor. B. Raw materials used in production. C. Property taxes on a factory building. D. Advertising and promotion expenditures. 4444.... An example of a product cost is:An example of a product cost is:An example of a product cost is:An example of a product cost is: A. Advertising expense for the product. B. A portion of the president's travel expense. C. Interest expense on a loan to finance inventory. D. Production line maintenance costs. 5555.... Costs may be allocated to a product or activity for many purposes, but care mustCosts may be allocated to a product or activity for many purposes, but care mustCosts may be allocated to a product or activity for many purposes, but care mustCosts may be allocated to a product or activity for many purposes, but care must be exercised when using allocated costs because:be exercised when using allocated costs because:be exercised when using allocated costs because:be exercised when using allocated costs because: A. Direct costs identified with the product or activity may not be accurately assigned. B. Fixed costs will change in total if the volume of activity changes. C. All costs may not have been allocated to the product or activity. D. Arbitrarily allocated costs may not behave in the way assumed in the allocation method. Answers: 1 (B), 2 (B), 3 (D), 4 (D), 5 (D)