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Cost and Management Accounting

This document outlines the chapters and marks allotted for a cost and management accounting exam. It includes chapters on introduction, material, labour, overhead and cost sheets, and cost bookkeeping. The introduction chapter covers topics such as the differences between cost, financial, and management accounting, factors for installing a cost accounting system, cost classifications, and costing methods. Other chapters discuss material and inventory management, labour cost treatment, overhead allocation, and integrated versus non-integrated accounting systems. The document provides an overview of the scope and content to be covered in the exam.

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Santosh Thakur
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286 views2 pages

Cost and Management Accounting

This document outlines the chapters and marks allotted for a cost and management accounting exam. It includes chapters on introduction, material, labour, overhead and cost sheets, and cost bookkeeping. The introduction chapter covers topics such as the differences between cost, financial, and management accounting, factors for installing a cost accounting system, cost classifications, and costing methods. Other chapters discuss material and inventory management, labour cost treatment, overhead allocation, and integrated versus non-integrated accounting systems. The document provides an overview of the scope and content to be covered in the exam.

Uploaded by

Santosh Thakur
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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COST AND MANAGEMENT ACCOUNTING SUGGESTIONS 2022

CHAPTERS MARKS ALLOTED


INTRODUCTION ( THEORY) 10 MARKS
MATERIAL (P+T) 10 MARKS
LABOUR (P+T) 10 MARKS
OVERHEAD AND COST SHEET (P+T) 20 MARKS
COST BOOK KEEPING (P+T) 10 MARKS
CONTRACT,PROCESS,SERIVCE,JOB AND BATCH 20 MARKS

INTRODUCTION

1. What are the Limitations of cost accounting


2. Difference between cost accounting and management accounting.
3. Difference between financial accounting and cost accounting.
4. Factors to be considered before installing a cost accounting system.
5. What are the essentials of the good cost accounting system ?
6. Difference between cost unit and cost centre.
7. Classification of cost centre.
8. Purposes/importance/advantages of cost centre
9. Classification of cost : nature wise classification, element wise classification, function wise,
behaviour wise.
10. Difference between fixed cost and variable cost.
11. What are the Types of costing methods.
12. What are the techniques of costing.
13. Difference between direct and indirect materials.
14. Short notes on : sunk cost, opportunity cost, prime cost and overhead.
15. 4 types of important questions :
a) Classify the cost as direct or indirect cost
b) Industries and their cost unit (pg-2.2) only industry and cost unit columns
c) Industries and their costing methods
INDUSTRIES COSTINGS METHODS
Construction, Contract costing
Transport, airlines Operating costing
Chemical, steel, refineries, sugar, cement, Process costing
power generation, soap, cosmetics,
leather
Ship building, bicycle, toy making, Multiple costing
computer, automobiles, aeroplanes, TV,
AC
Spare parts manufacturing, interior Job costing
decoration
Agricultural, Farm costing
Furniture, medicine, garment, packed Batch costing
food, biscuits
MATERIAL

1) Short notes on :
a)EOQ
b)ABC system
c)IIT inventory
d)simple and weighted average method
e) cost treatment of defectives, scraps, spoilage and wastage
f)cost treatment of discrepancies in stock
g) perpetual inventory system.

2) Difference between bin card and stores ledger


3) Difference between FIFO and LIFO method.
4) Functions of storekeeper

LABOUR

1. Treatment of overtime wages in cost accounts


2. What is idle time ? what are causes of idle time and its treatment in cost accounts ?
3. What are the remedial steps to minimise labour turnover ?
4. Shorts notes : time keeping and time booking, differential piece rate system, halsey and
rowan plan

OVERHEAD
1. What is under and over absorbption of overhead and its treatment in cost accounts.
2. Difference between cost allocation and cost apportionment.
3. What do you mean machine hour rate ?
4. What are the steps to be followed to allocate and apportion the factory overhead to
production and service departments.

COST BOOK KEEPING

1. What are the integrated accounting systems ? what are it features and advantages ?
2. What are the non integrated accounting systems ? what are it features and advantages ?
3. Reasons for disagreement of profit as per financial accounts and cost accounts ?

MISCELLANEOUS

1. Short notes on : cost plus contract, escalation clause, estimated profit, retention money
2. Difference between job and batch costing. Also relations
3. Difference between job and process costing
4. How profit of incomplete contract is transferred to p/L

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