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Certified Cost Accountant

Indian : Rs.4719
International : $75
INTRODUCTION

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?

This certification 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?

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.

COMPANIES THAT HIRE VSKILLS COST ACOUNTANT

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.

CONTENT

Introduction to Cost and Management Accounting

  • Concepts of Cost
  • Costing, Cost Accounting and Cost Accountancy
  • Objectives of Cost Accounting
  • Importance of Cost Accounting
  • Scope of Cost Accounting
  • Classification of Costs
  • Cost Centre and Cost Unit
  • Methods of Costing
  • Techniques of Costing
  • Installation of a Costing System
  • Difference between Financial Accounting and Cost Accounting
  • Difference between Financial Accounting and Management Accounting

Material Cost

  • Inventory Control (Material Control)
  • Objectives of Inventory Control
  • Techniques of Inventory Control
  • Store-Keeping
  • Functions of Store-Keeping
  • Method of Pricing of Material Issues
  • Accounting of Material Losses
  • Control of Material Losses
  • Inventory Management

Labour Cost

  • Introduction to Labour Cost
  • Classification of Labour Cost
  • Accounting and Control of Labour Cost
  • Time Recording
  • Time-Keeping
  • Time Keeping
  • Overtime
  • Idle Time
  • Labour Turnover
  • Labour Remuneration System
  • Basic Methods of Remuneration System
  • Incentive schemes

Direct Expenses and Overheads

  • Direct expenses
  • Indirect expenses
  • Overheads
  • Collection of Overheads
  • Classification of Overheads
  • Allocation and apportionment of overheads (depart-metallization of overheads)
  • Allocation of Overheads
  • Apportionment of Overheads
  • Absorption of overheads
  • Methods of Absorbing Production Overheads
  • Over or Under Absorption Of Overheads
  • Treatment of Factory Overheads
  • Treatment of Administrative Overheads
  • Treatment of Selling And Distribution Overheads
  • Control of Overheads
  • Preparation of Cost Sheet

Activity Based Costing

  • Introduction
  • Meaning of Activity Based Costing
  • Basics of Activity Based Costing
  • Distinction Between Traditional Absorption Costing and Activity Based Costing
  • Objectives of Activity Based Costing
  • Terminology of Activity Based Costing
  • Stages in Developing Activity Based Costing System
  • Different Types of Activities

Cost Records

  • Introduction
  • Non-Integrated Accounting System
  • Advantages of Non-Integrated Accounting
  • Limitations of Non-Integrated Accounting
  • Integrated (Integral) Accounting System
  • Need For Reconciliation
  • Causes of Differences
  • Preparation of Reconciliation Statement or Memorandum Reconciliation Account

Costing Systems

  • Introduction
  • Single/Output/Unit Costing
  • Cost Sheet
  • Job Costing
  • Batch Costing
  • Contract Costing
  • Process Costing
  • Service Costing

Marginal Costing

  • Features of Marginal Costing
  • Advantages of Marginal Costing
  • Limitations of Marginal Costing
  • Break-Even Analysis/Cost-Volume Profit Analysis
  • Uses of Cost-Volume-Profit Analysis
  • Contribution
  • Marginal Cost Equation
  • Profit-Volume Ratio
  • Margin of Safety
  • Methods For Determining Break Even Points
  • Applications of Marginal Costing
  • Composite Break Even Point
  • Absorption Costing
  • System of Profit Reporting

Standard Costing

  • Introduction
  • Definition and Meaning
  • Applications of Standard Costing
  • Various Types of Standards
  • Standard Costing System
  • Variance Analysis
  • Material Cost Variances
  • Material Usage Variance
  • Material Mix Variance
  • Materials Yield Variance
  • Overhead Cost Variances
  • Variable Overhead Variance
  • Fixed Overhead Variance

Budget, Budgeting and Budgetary Control

  • Budget
  • Budgeting
  • Budgetary Control
  • Forecast and Budget
  • Zero Base Budgeting

Cost Accounting Records and Cost Audit

  • Cost Audit
  • Purpose of Cost Audit
  • Advantages of Cost Audit
  • Appointment of Cost Auditor
  • Rights and Responsibilities of Cost Auditor
  • Implementing Authorities of Cost Audit
  • Cost Audit Techniques
  • Cost Audit Programme
  • Cost Audit Report

Analysis and Interpretation of Financial Statements

  • Financial Statements
  • Importance of Financial Statements
  • Analysis of Financial Statements
  • Types of Financial Statement Analysis
  • Methods of Analyzing Financial Statements
  • Ratio Analysis
  • Uses of Ratio Analysis Classification of Ratios

 

Frequently Asked Questions


What is Vskills?

VSkills is a “skills testing” and certification exam conducted by - ICSIL, A Govt of India Undertaking and Govt of NCT Delhi Company. Vskills is a testing and certification programme focused on prior learning. Through Vskills Assessments, individuals with learning acquired outside of a formal classroom setting have the opportunity to get certified by appearing in standardized exams conducted throughout the nation at proctored centres.

What is Vskills Certification?

Vskills Certification is a professional skill test that is conducted to assure that a person is qualified to perform a job. It is a proof that the candidate has the requisite skills to do a job.

What are the benefits that I will get by taking Vskills Certification Exam?

Some of the benefits that you get on taking Vskills Certification exam are listed below,-

- Develop skills that are valued by experts in the industry
- Vskills Certifications opens avenue for candidates in various sectors
- Vskills Certification provides an opportunity to get certified in areas where you are not formally educated
- Vskills Certification enhances the chances of employment
- CVs of certified candidates are flagged on Monster India website as “Vskills Certified candidates” to employers.
- CVs of certified candidates are also tagged on Shine.com website as “Vskills Certified candidates” to employers.
- CVs of all Vskills Certified candidates is shared with relevant employers for employment - Vskills Certified candidates are a part of the Job Centre for Life
- Vskills provides supplementary preparation material (hard copy or online videos) to candidate for easing the process of preparation.
- Vskills assessment exams are structured and regularly updated according to the industry standards
- Vskills Certifications do not require any time commitment since it is only a test and not classroom teaching.
- Vskills Certifications open avenues for candidates in various sectors
- Vskills Certifications provide an opportunity to get certified in areas where you are not formally educated
- Vskills Certifications greatly enhance the chances of employment

What is the duration of the course?

There is NO course duration for all certification exam. Exams are conducted on monthly basis and candidate has the flexibility to select the exam date from Exam Calender as per their per feasibility. Student can give the exam any time between 1 year from the date of enrollment.

What is the eligibility for registration?

There is no minimum qualification for taking up Vskills Certification Exam, so it is for everyone – from day to day users to senior management, say - Employees - Employers - Students - Teachers - Businessmen and Entrepreneurs - Housewives/Retired Professionals, etc

What is the duration of the exam?

Vskills Certification Exam is for one hour (1 hour) duration.

What type of questions are asked in the exam?

Vskills Certification Exam has 50 multiple choice questions (1 marks each), with no negative marking.

What is the passing percentage?

Passing percentage is 50% i.e., 25 marks need to be scored in order to clear the exam.

When is the the exam conducted?

Vskills Certification Exams are conducted on monthly basis and candidate has the flexibility to select the exam date from Exam Calender as per their per feasibility.

How many attempts can I give for a certification exam?

One exam attempt per registration with no limit on re-appearance.

Can I reschedule the exam?

Yes, candidate can re-shedule the exam till the date of exam after paying the re-schedule fees.

If I fail, what is the procedure to be followed for reappearing in the exam?

In case a candidate is unable to clear the exam then, candidate can register for exam retake by paying for registration fees of Rs. 1250/- but no reading material is sent.

Does the exam is available only in India?

Candidates residing outside India can register for specific certifications as listed under the international students by appearing in online open book exam.

Can I take two or more certification exams at one time?

Yes, candidate can take two or more exams at one time.

How tough will be the paper?

The certification exam is meant to assess the ability of the student in the particular domain and checks entry level to medium level skills in that particular domain. If you know the domain area, and have studied the accompanying material well, you will have no difficulty in passing the exam.

Do you provide any sample questions?

Practice tests are provided under every certification.

What is the duration of the certification?

There is no minimum duration of certification. You may register when you want; we suggest that minimum 30 days should be kept to go over the material provided at the time of registration.

Is the exam available for international candidates?

Yes, candidates residing outside India can follow the process for international students.

What kind of placement support is provided?

Vskills provides placement support to certified candidates as - CVs of certified candidates are flagged on Monster India website as “Vskills Certified candidates” to employers. - CVs of certified candidates are also tagged on Shine.com website as “Vskills Certified candidates” to employers. - CVs of all Vskills Certified candidates is shared with relevant employers for employment - Vskills Certified candidates are a part of the Job Centre for Life

In case I am unable to take the exam will my fees be refunded?

As a policy under no circumstances will the fees be refunded to the candidate after registration, unless there is a situation that is unavoidable.

When is the result declared?

Result indicating pass or fail is told to candidate after finishing of the exam. Hard copy certificate and performance report is sent to candidates who had cleared the exam. Soft copy certificate is also e-mailed.

Is the material provided by you sufficient from exam point of view or should I refer other sources?

The study material provided by Vskills is a guideline for your exam, but you can refer to other sources for further clarity on any topic.

Are there any classes provided by you to prepare for the exam?

Vskills does not offer classes for any certification exam. The candidates have to prepare on its own for the exam. NO CLASSES are provided by Vskills.

Do you charge extra for placement assistance?

There are no charges apart from the registration fees or exam re-take in case candidate is unable to clear the certification exam.

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V skills

VSkills is a “skills testing” and certification exam conducted by - ICSIL, A Govt of India Undertaking and Govt of NCT Delhi Company. It is one of the largest manpower companies of the government of NCT Delhi. VSkills certifications help candidates quantify and prove their skills in a particular domain - skills that are valued by the employer and are in great demand. Your Vskills Certificate is a proof that you have the requisite knowledge and makes you job ready - which is why employers rate VSkills certifications and look for people who have them.

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