Preface

We are delighted to place Cost Accounting in the hands of readers. This book covers the theory of accounting principles as well as the treatment in a lucid style to enable students to understand concepts with ease. For each accounting principle, a separate model sum is provided and solved step by step. The aim of this book is to make it student friendly. Therefore, most of the accounting items are worked out and shown with asterisk marks to which the ledger accounts should be taken into consideration.

This book is mainly intended for undergraduate courses, but it also covers to some extent the syllabus for professional courses, such as CS, ICWA, CA and MBA.

The main features of the book are listed below:

Learning Objectives: Each chapter begins with ‘learning objectives’ in which the contents of the chapter are divided by objectives, and the text is based on these objectives.

Key Terms: All important technical terms with respect to each chapter are explained precisely at the end of every chapter.

Chapter Summary: The main points of every chapter are highlighted at the end for students to recapitulate at a glance. This approach will help them revise their studies in a short time.

Question Bank: The question bank for each chapter comprises true or false questions, fill in the blanks and multiple-choice questions. The maximum number of questions have been framed under this category to ensure that students have understood the theoretical part of the text. In addition to objective type-questions, small-answer type questions and essay-type questions are also provided.

Exercises: These are divided into two parts. Part I is meant for undergraduate courses. Problems from reputed universities’ question papers are selected on the same model and shown with solutions in this part.

Part II is meant for professional courses, such as CS, ICWA and CA. Here also, problems from reputed universities’ question papers are selected and included with solutions.

We hope that this book will be of use to the readers who do not possess basic knowledge about this subject. At the same time, it will also be helpful for students undergoing professional courses as the coverage of the subject matter is wide and extensive.