Elements of Costing Study Materials 2021 – Download Study Notes PDF

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Elements of Costing Study Materials: Download Elements of Costing Study Materials 2021. In this article, we are going to provide the Study Notes for Management Studies. Students of B.Com can download these Study Materials which will be useful for their Exam Preparation. Through this article, we are going to provide the Elements of Costing Study Materials, Study Notes, PDFs, Chapters & Topics, Important Questions in this topic and Download Links.  Continue reading the below article for more information regarding the Management Studies Notes.

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Elements of Costing Study Materials - Download Chapters, Topics & Imp Questions

Elements of Costing Study Materials

Name of the Subject Elements of Costing 
Category Management Studies
Useful for B.Com
Course Type Under Graduation
Article on Study Materials 2021
Study Material Format PDF
Download Other Study Materials Click Here 

Chapters and Topics

The topics covered in this subject are given here at a place for the convenience of students. Follow the article to know more about Elements of Auditing.

Basic Concepts

  • Nature and Scope
  • Concept of Cost and Its Ascertainment

Materials and Labour

  • Procurement, Storage, and Issue
  • Inventory Control
  • Pricing the Issue of Materials
  • Labour


  • Classification and Distribution of Overheads
  • Absorption of Factory Overheads
  • Treatment of Other Overheads

Methods of Costing

  • Costing
  • Reconciliation of Cost and Financial Accounts
  • Job and Contract Costing
  • Process Costing

Cost Accounting Study Notes

Here we have mentioned the unit wise PDFs of  Elements of Costing subject. Click on the below link to download it :
Auditing System in India
Human Resource Audit
Auditing of Finance
Management of Drugs
Auditing and Certification
Energy Auditing
Human Resource Audit
Maintenance Audit
Subject  Download Links 
Elements of Costing Click Here
Click Here 

Unit wise PDFs – Elements of Costing Study Books

Here we have mentioned the unit wise PDFs of  Elements of Costing subject. Click on the below link to download it :

Units  Download Links 
Basic Concepts Download
Materials and Labour Download
Overheads Click Here
Methods of Costing Download

Subject to the Universities

This subject will be useful to the students of B.Com. The following university students can also download these materials :

  • University of Calicut
  • EIILM University
  • Rai Technology University
  • Pondicherry University

Subject in the Semesters

Elements of Costing subject will be studied by the students in the following semesters of their respective courses :

  • B.Com IV Semester
  • MBA I Semester

Important Questions

We have mentioned some of the important questions on Elements of Costing subject :

  • Why do we need an effective system of cost accounting in a business enterprise?
  • Define the term ‘Cost Centre’. Analyze the importance of selecting suitable cost centres.
  • Why do we need to qualify ‘cost’? Discuss.
  • What do you understand by direct material and indirect material? Give examples.
  • What do you understand by inventory control? What are its objectives?
  • Define overheads. What are the various methods of classifying overheads? Discuss “functional classification.
  • What are standing order numbers? Explain various sources used for the collection of overheads.
  • What do you mean by ‘absorption of overheads’? Describe briefly the various methods of absorption of factory overheads.
  • How do you classify and apportion selling and distribution overheads? How are the selling overheads absorbed by cost units?
  • Define Unit Costing. Mention the industries to which this method of costing is applicable.
  • What is the cost sheet? In what respect does it differ from a Production Account?
  • Define job costing and describe its special features.
  • Distinguish between job costing and process costing.
  • Explain the meaning of normal and abnormal process losses and state how they are treated in cost accounts.

Recommended Books for Elements of Costing

The books that are useful for knowing about Elements of Costing are given here. These are available online and can be downloaded for learning.

  • ECO10 Elements of Costing: GPH publications guide in English medium
  • AAT L2 Elements of Costing: Mock Exam Two (AAT Level 2) by MarZar Ltd Kindle Edition
  • Elements of Costing by M.E. Thukaram Rao Paperback

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