lecture plan

Week

1st Lecture

2nd Lecture

1

Financial Accounting – Introduction

Financial Statements

Basic concepts of Accounting Equation, Recording Transactions,  Trial Balance.

Balance Sheet, Profit & Loss, Debit & Credit

2

Current Assets & Liabilities

Fixed Assets

Debtors & Creditors, Deferrals & Accruals, Valuation of inventories, Impact of inventory valuation on P&L

Fixed Assets, Concept of useful life & Depreciation

3

Managerial Accounting – Introduction

Unit Costing

Cost Accumulation & Assignment, Direct & Indirect Cost 

Variable & Fixed Cost, Total & Units Cost, Cost of Goods Sold

4

Cost-Volume-Profit Relationship 

CVP in Textiles

Contribution Margin, Gross Margin, Break Even, Sensitivity Analysis

Analysis of Spinning, Weaving & Dyeing wrt Contribution Margin & Break Even

5

Costing Systems I

Costing Systems II

Job Costing

Process Costing

6

Advanced Costing Systems

ABC Uses in Textiles

Activity Based Costing

Analysis of Dyeing & Printing wrt Activity Based Costing.

7

Budgets & Variances

Budgeting in Textiles

Role of Budgets, Price & Efficiency Variances

Role of Budgets, Price & Efficiency Variances, Analysis of Spinning wrt to Budgets

8

Mid Term 

Review of Spinning Calculations

Count, OPS, Total Production, Yield in Carded & Combed Yarns,

9

Simple Yarn Costing

Optimal Yarn Mix

Raw Materials, Variable Production Costs, Export Costs, Contribution 

Maximization of Contribution Margin

10

Review of Weaving Calculations

Simple Fabric Costing

Denier, Fabric Weight, Production per Day, B-grade Adjustments 

Raw Materials, Variable Production Costs, Export Costs, Contribution

11

Costs in Dyeing

Concept of Routes

Wastages, Energy, Dyes & Chemicals, Labor, Machines

Impact of using Different Routes on Cost

12

Simple Dyed Fabric Costing

Simple Printed Fabric Costing

Raw Materials, Dyes & Chemicals, Overhead

Raw Materials, Dyes & Chemicals, Overhead

13

Stitching Costing

Accounting Concepts

Raw Materials, Accessories, Labor, Overhead

Unit of Measurement, Recognition of Income, Allocation of Costs, Consistency, Materiality, Conservatism

14

Cost Allocation I

Cost Allocation II

Cost-Benefit Consideration, Indirect Cost Pools, Allocating Costs from One Department to Another, Allocating Costs of Support Departments 

Cost Tracing & Allocation, Used/Unused Capacity, Downward Demand Spiral, Measuring Capacity

15

Spoilage, Rework & Scrap

Overview

Normal & Abnormal Spoilage, Process Costing & Spoilage, Job Costing & Spoilage, Reworked Units, Accounting for Scrap

Recap session

Final