Cost and Management
ICWA-GROUP-II
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
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