Cost Accounting Labour Costing (Professional Course Level)

Learn basics of Labour Costing covering Attendance, Pay Roll Procedure, Idle Time, Over time, etc
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  • Lectures 24
  • Length 1.5 hours
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 4/2015 English

Course Description

Welcome to Cost Accounting Labour Costing Course.

In any organisation, Labour Cost after material cost is significant element of cost not only because the wages cost is generally substantial, but also it has certain special characteristics, which other elements of cost do no have.

If you want to gain good knowledge in Cost Accounting, then you must understand the features of labour cost.

In this course, you will learn about

a) Classification of Labour Cost

b) Difference between Direct and Indirect Labour Cost

c) Labour Cost Control

d) Roles of Departments in Controlling Labour Cost

e) Important Factor for the Control of Labour Cost

f) Collection of Labour Cost

g) Time Keeping

h) Traditional Mehtods of Time Keeping

i) Mechanical Methods of Time Keeping

j) Requisites of a Good Time Keeping System

k) Time Booking

l) Pay roll Procedure

This course is structured in self paced learning style.

Take this course to understand Basics of Labour Costing.

What are the requirements?

  • Basics of Accounting
  • Basics of Cost Accounting

What am I going to get from this course?

  • Understand need of Labour Cost
  • Understand the Attendance and Pay Roll Procedure

Who is the target audience?

  • Accounting and Finance Executives
  • Accounting and Finance Students
  • Cost Accounting Students
  • MBA Finance Students
  • B.Com Students

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.


Section 1: Introduction
Difference between Direct and Indirect Labour Cost
Section 2: Labour Cost Control
Labour Cost Control
Roles of Departments in Controlling Labour Cost
Factors Controlling Labour Cost
Collection of Labour Cost
Section 3: Time Keeping
Time Keeping
Traditional Methods of Time Keeping
Mechanical Time Keeping
Requisites of Good Time Keeping System
Section 4: Time Booking
Time Booking
Reconciliation Gate Card and Job Card
Objectives of Time Keeping
Payroll Procedure
Section 5: Idle Time
Idle Time
Section 6: Overtime
Overtime Premium
Effects of OT on Productivity
Steps for Controlling Overtime
Labour Turnover
Labour turnover due to new recruitment
Causes of Labour Turnover
Effects of Labour Turnover
Steps available for minimising labour turnover
Bonus Lecture - Discount Coupon Links for other Courses
8 pages

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Instructor Biography

I am a Chartered Accountant with tonnes of passion for teaching.

I teach Financial Management & Strategic Financial Management for Chartered Accountancy, Cost and Management Accountancy and Company Secretary students in Ernakulam, India. I also hold Post Graduate Diploma in Business Administration in Finance from Symbiosis, Pune and Bachelors in Commerce, from Loyola College, Chennai.

I worked in State Bank of India as Assistant Vice President - Credit for a period of four years after which i started my Chartered Accountancy Practice. During the stint in State Bank of India, I worked on credit proposals of Mid Corporate Units and gained good experience in Financial Analysis, Risk Assessment, Viability Study, Evaluating business models, Project Finance, Working Capital Management, etc.

I conduct work shops for Entrepreneurs, Chartered Accountancy / Cost and Management Accountancy Students on the topics like Project Finance, Credit Risk Assessment, Entrepreneurship Development, Finance for Non Finance Executives, etc.

I love teaching and i want fundamentals of accounting and finance to reach students and so i am here.

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