ICWAI/ICAI - Inter - Cost and Management Accountancy-Exam. Preparation

ICWAI/ICAI - Inter - Cost and Management Accountancy-Exam. Preparation

1.       Equivalent Production

2.       Inter firm Comparison

3.       Margin of Safety

4.       Difference-Cost Control & Cost Reduction

5.       Flexible Budget

6.       Labour Turnover

7.       ABC Analysis

8.       Just in Time

9.       Cost Plus Contract

10.   Joint Product & By Product

11.   Angle of Incidence

12.   Profit Volume Chart

13.   Value Analysis

Note :

ü  Above Short Note is Most IMP Short Note but other may be Included.

ü  Do RTP Short Notes of relevant Term and consider that as also Most Imp Short Notes.

ü  Do RTP Objectives of relevant Term and consider that as also Most Imp Objectives.

Above are enough but if you want to do more you can do following…

DISTINGUISH QUESTIONS

Ø    Cost control and Cost reduction

Ø    Perpetual Inventory System & Continues stock taking

Ø    Distinguish between Spoilage and Defectives

Ø    Job evaluation & merit rating

Ø    Idle time and Idle capacity

Ø    Work measurement and Motion study

Ø    Distinguish between ‘Incentive to indirect workers’ and ‘Indirect incentives to direct workers’.

Ø    Depreciation and Obsolescence

Ø    Cost allocation and Cost appropriation

Ø    Joint product & by-product

Ø    Marginal cost & differential cost

Ø    Marginal costing & Absorption costing

Ø    Fixed & Flexible budget

Ø    Standard costing & budgetary control

SHORT NOTES

Ø    Direct Expenses

Ø    Profit Centre

Ø    Relevant Cost

Ø    Material Transfer Note

Ø    ABC analysis

Ø    idle time

Ø    Learning Curve

Ø    Batch costing

Ø    Escalation Clause

Ø    Equivalent production

Ø    Split-off point

Ø    Operating costing

Ø    Integrated accounting system

Ø    Margin of safety

Ø    BEP

Ø    Angle of incidence

Ø    Differential cost

Ø    CVP analysis

Ø    Profit volume chart

Ø    Sensitivity Analysis

Ø    Activity Based Costing

Ø    Activity Based Budgeting

Ø    Activity Based Management

Ø    Cost Driver

Ø    Budgetary control

Ø    Principal Budget factor

Ø    Balance scorecard

Ø    Performance management

Ø    MRP

Ø    Value analysis

Ø    ERP

Ø    Value Engineering

Ø    Target costing

Ø    JIT

Ø    Supply Chain Analysis

Descriptive Question

Ø    Pre – requisites for computerization of accounts

Ø    Pre – requisites for Installation of a cost system

Ø    Explain Uniform Costing

Ø    Explain the role of costing in the changing economic scenario of our country

Ø    What are the basic assumptions of EOQ model?

Ø    Explain Labour Turnover and its causes.

Ø    How to minimize labour turnover

Ø    Cost associated with the labour turnover

Ø    Enumerate the principles of a good incentive scheme

Ø    Methods for disposal of under/over-absorbed overheads

Ø    What is predetermined overhead absorption rate?

Ø    Profit on incomplete contracts

Ø    Explain Cost – plus contract & its advantages

Ø    Accounting treatment of by product

Ø    Features of processing costing

Ø    Reason for reconciliation of profit between cost & financial account

Ø    Assumptions of BEP

Ø    Area in which application of marginal costing technique

Ø    Circumstance in which fixing the selling price below variable cost

Ø    Methods of Transfer pricing

Ø    Limitations of Activity Based Costing

Ø    Features of zero based budgeting

Ø    Methods of disposition of variances

Ø    Explain the principles of management

Ø    Six C’s in TQM

Ø    Pre requisites of inter firm comparison

Ø    Features of uniform costing