Elements of cost covering material (direct and indirect), labor (direct and indirect), expenses (direct and indirect), overheads (factory, office, administration, selling and distribution), prime cost, factory cost, cost of production.
Methods and techniques of costing including job costing, contract costing, batch costing, process costing, operation costing, unit costing, departmental costing, multiple costing, marginal costing, standard costing, uniform costing, historical costing.
Nature of cost accounting covering concept of cost, meaning of costing, cost accounting, cost accountancy, cost unit, cost center, cost estimation, cost ascertainment, cost allocation, cost apportionment, and cost absorption.
Absorption and marginal costing decision making covering theory, income statements, features, comparison, practical applications, profit calculation under both methods, managerial decision-making using both techniques.