Principles of Cost Accounting

Peter Kamala, Jean Struwig, Marina Bornman, Renier Boersman, Minette Vermaak, Melissa McGill, Josette Jordaan-Marais, Jay Matthew, Christo Hurter, Peter Taylor, and Edited by Johan Hefer

Each chapter contains an opening practical example which illustrates why the principles covered in the chapter are important for running a business in South Africa.
Worked examples include questions to start developing the basic critical skills students will need to acquire as part of the competencies expected by the professional bodies.
Solutions to the worked examples guide students through the problem in a step-by-step manner and give them the confidence to tackle questions on their own.
Practical activities offer real-life examples of what a cost accountant might be expected to do in the workplace, such as writing memos and advising clients on cost-control measures, allowing students to practically apply the theory learnt in the chapter.
Basic definitions reinforce concepts.
End-of-chapter questions provide practice

Principles of Cost Accounting

Peter Kamala, Jean Struwig, Marina Bornman, Renier Boersman, Minette Vermaak, Melissa McGill, Josette Jordaan-Marais, Jay Matthew, Christo Hurter, Peter Taylor, and Edited by Johan Hefer

Description

The book builds knowledge in incremental steps, allowing students to develop the framework required to conceptualise the technicalities of cost accounting. It refers to the specifics of accounting practice in the South African context where relevant, developing students' competence for their workplace. Principles of cost accounting offers a holistic approach to understanding the work of a cost accountant and incorporates decision-making and communication skills.

Principles of Cost Accounting

Peter Kamala, Jean Struwig, Marina Bornman, Renier Boersman, Minette Vermaak, Melissa McGill, Josette Jordaan-Marais, Jay Matthew, Christo Hurter, Peter Taylor, and Edited by Johan Hefer

Part 1 Fundamental concepts
1:Introduction to cost accounting
2:Cost concepts, classification and behaviour
3:Cost elements: Accounting for inventory
4:Cost elements: Inventory management and control
5:Cost elements: Labour
6:Cost elements: Overheads
7:Cost statements
Part 2 Costing systems
Part 2.1 Costing systems
8:Job costing
9:Contract costing
Part 2.2 Process costing
10:Process costing: Single products
11:Process costing: Joint and by-products
Part 2.3 Other costing systems
12:Standard costing
13:Activity-based costing (ABC)
14:Direct and absorption costing systems
Part 3 Budgets
15:Operational budgets
16:Cash budgets
17:Flexible and

fixed

budgets
18:Capital budgeting
Part 4 Decision making
19:Cost-volume-profit analysis
20:Linear programming
21:Relevant costing
22:Pricing decisions