#1 "Mastering Contract Costing: A Live Lecture for TYBCOM Students" Siraj Shaikh

1. **Introduction to Cost Accounting**: TYBCOM syllabus usually starts with an overview of Cost Accounting, its objectives, importance, and scope. This lays the foundation for understanding how Contract Costing fits into the broader field of cost management.
2. **Basics of Contract Costing**: Students will learn the concept of Contract Costing, its definition, and its relevance in various industries. They'll understand why businesses use this method to track costs and manage projects.
3. **Contract Costing vs. Job Costing**: Students will delve into the differences between Contract Costing and Job Costing, another common method of cost allocation. They'll learn when each method is appropriate and how they differ in terms of application and calculation.
4. **Elements of Contract Costing**: This section covers the components of contract costs, such as materials, labor, direct expenses, and overheads. Students will understand how to identify and categorize these costs within the context of a contract.
5. **Preparation of Contract Accounts**: TYBCOM syllabus typically includes detailed lessons on how to prepare contract accounts. This involves recording all costs incurred and revenues earned for each contract separately, allowing for accurate cost analysis.
6. **Methods of Valuation**: Students will learn different methods of valuing work-in-progress and finished contract values. This includes techniques for allocating overheads and determining profit margins.
7. **Treatment of Overheads**: Overheads play a significant role in contract costing. Students will learn how to allocate overhead costs to contracts using various methods, such as absorption costing or activity-based costing.
8. **Profit Determination and Analysis**: TYBCOM syllabus covers how to calculate and analyze profits from contracts. Students will learn about the importance of profit margins, factors influencing profitability, and techniques for improving project profitability.
9. **Accounting for Losses and Abnormalities**: Sometimes contracts may result in losses or encounter abnormal situations. Students will learn how to account for such situations and their impact on financial statements.
10. **Case Studies and Practical Applications**: To reinforce theoretical concepts, TYBCOM syllabus often includes case studies and practical exercises related to contract costing. These help students apply their knowledge to real-world scenarios and develop problem-solving skills.
11. **Reporting and Presentation**: Finally, students will learn how to present contract costing information effectively through reports and presentations. This involves summarizing key findings, highlighting critical cost drivers, and providing insights for decision-making.
i just hope you all must have liked the video, so do comment your view and do like and share the channel if you all feel worth sharing the channel.
Don’t forget to subscribe our channel
/ sam4sir
/ channel
Must check playlist for all other videos. ❣️
Like, share or subscribe karna mat bhulna..!!!
For notes and important questions join our telegram channel :
Telegram : skyeducationofficial
(in case of link failure just search by name)
t.me/skyeducat...
t.me/sirajshai...
Connect with me on all other social media networks
Facebook : siraj shaikh
Instagram : sam4sir00
Twitter : sirajsam4sir
Snapchat : sam4sir (siraj shaikh)
Telegram : sam4sir00

[@techzixxy729]

sir i've been failing in bcom since 3rd sem and i've finally started watching you i've passed sem 3 and 4 now time for sem 6. i've never in my life respected a single teacher but you sir are my god! absolutely the best the level of understanding you provide about each and every topic is the easiest a guy like me could ever understand. huge respect Siraj sir lots of love

[@simplesimon399]

Did you have to repeat any years? Or did you just get it cleared out with the ATKT exams?

[@Pratiknewstv]

00:09 Introduction to Contract Costing
06:53 Understanding notional profit in contract costing
12:04 Prepare contract accounts efficiently for multiple contracts
14:32 Consolidating contract charges for efficiency
19:24 Allocating depreciation based on work certified
21:55 Understanding contract cost certification process
26:47 Understanding contract costing and its key components.
29:30 Direct and indirect expenses have to be debited in the same amounts as given in the lecture.
34:50 Explanation of opening and closing values in contract costing
37:10 Differences between Sira Sir's and textbook solutions
42:19 Understanding Work in Progress Certification and Contract Account
44:34 Recording expenses and income in accounting
49:31 Understanding architect fee calculation in contract costing
51:43 Understanding and calculating depreciation in contract costing.
56:30 Contract costing calculation for profit and loss
59:24 Understanding the process of contract costing for cash receipt calculation
1:04:22 Understanding the treatment of profit and depreciation in contract costing
1:06:43 Attend the live lecture to clear any doubts about tax
Crafted by Merlin AI.

[@arshitapathak5017]

thanks bud

[@rajansahani3788]

Sir i am from tybcom students and me and my friends are coming to meet uh after examination ❤

[@aftabmansoori3632]

🎉🎉

[@adityabangera5307]

6:24 notional profit
8:15 work certified
17:46
36:47 loss
44:18
47:56 cumulative
51:03 depreciation
54:10 work certified
57:23 impt
1:03:43 80%
1:05:51 end

[@memes_0251]

Thank you so much sir

[@khushipatil4408]

Thank you sir 🎉

[@soulcrushergaming6579]

Sir material issued 298000 tha apne 298800 kyu liya hain c2 wala

[@khushboo5936]

Thank you so much sir........

[@aryankamble3650]

TYSM SIR❤️🙏

[@atharvpathare]

Kuldeep yadav

[@user-wn3mc7hb5u]

Aisa lagta hai ki mai bhi class me baithi hu.😅 Maja aata hai sab log clap 👏👏 karte hai. Jadya kar ke kuldeep per 😂😂😂

[@glory-_]

Sir apki fan😄

[@SaakshiChaurasia]

Thanku so much ...ap ho bohat support hai sir ...

[@prajapatijyoti7714]

Hi sir nice teaching 😊 & one more thing sir camera proper karenge to only screen dhekhega extra portion ki vajah se video zoom karne per clear nhi dhikh raha hai , camera set up properly kar dijiye to or achha dhikhega 🙏🙏

[@rusikajoshi8351]

Sir work certified ( Cumulative) 7500000-2250000=5250000
hey na ?

[@ignitestudiosgfx9753]

Haa

[@acn_edits]

Thank you sir 🙏🙏

[@lalitajoshi7895]

Thanks sir

[@suyashnarvekar8778]

sir aapne material issues maii c2 ka amount alag liya hai

[@nadaffarheennadaf7320]

Thank you❤❤🌹 sir

[@asmachoudhary5505]

🎉🎉🎉🎉🎉

[@randomly_0]

Examiner correct dega kya profit different hoga to ??

[@vssfamm8829]

57:33 behukufff 😂😂😂

[@jadhavdiksha5172]

Sir aapka April 2023 ka que. He usme To material 2,98,000 he or aapne 2,98,800 liya he to notional profit wrong ho gaya he book ka value liya to 203,300 aata he notional profit

[@sirajshaikhdegreestudy]

Question mein correction hai

[@jadhavdiksha5172]

Ok sir

[@adityabangera853]

22:27 upto 25%

[@zaleel_shayar8549]

❤❤❤

[@sanjogkambli6516]

Sir costing ka standard, marginal, contract aur process itney topic kr liye toh chalega ky

[@arshitapathak5017]

Yes

[@sirajshaikhdegreestudy]

Yes

[@Somnath_1818]

Q2. notional profit 2,03,300 hai
Apne notional profit 2,02,500 likha hai
Agar apka write hai to wo amt kidhr se aaya

[@SCMParthPatil]

Ans Mila ky proper

[@Somnath_1818]

@@SCMParthPatil
P&l Aya :- 115203
WIP :- 88097

[@aftabshotsvideos]

Accounts me working note banana compulsory hai kya

[@bryan_11016]

yess . Working notes carries marks both in FA & CA

[@Rahul_Sharma1529]

The value of material issued is 298000 not 298800 please check again 😂

[@madihaahmed5996]

estimated contract account is not there fot tybcom right?

[@cutiepie_2594]

Sir marginal ko option mein rakh denge to chalega kya?

[@tmkfitness1153]

Assalam walekum sir me Taj Mohammad Khan

[@sumitshinde7057]

Sir PSK ke sem 6 ke imp que send karo na

[@afrinkhan968]

Assalamualaikum warahmatullahi wa barakatuhu

[@riyaz_vlog_]

Walikum asalam va rhematullahi va barkatu....♥

[@rpgcreation7619]

2 page me kr sakte hai kya exam me

[@glory-_]

Sir 2 sum wrong aa rha hai

[@mahimasharma5986]

Sir q 7 ka solution

[@nishagupta2338]

100 parcent asum karna hai

[@justboutanything]

Bichara kuldeep

[@dhananjayshinde3348]

36:55 sir yaha par wrong hai loss 1,30,000 ka nahi 1,51,000 ka aa raha hai @siraj sir

[@267shwetashukla9]

Yes sir

[@NIDHIartandcraft-fq1nf]

Thank you so much sir ☺️🙏🏼

[@maksudakhatun1122]

Thank you so much sir

[@manavdiwakar3734]

thank you sir

[@PowerOfTechnicalAnalysis-02]

thank you so much sir