IMPORTANT THEORY QUESTIONS
FOR CA IPCC/PCC – MAY 2011 EXAM
1. Distinguish between spoilage and defectives in a manufacturing company. Discuss their treatment in cost accounts and suggest a procedure for their control.
2. What is ABC analysis? Discuss its role in a sound system of material control.
3. Distinguish between Idle time and Idle facilities. How are they treated in Cost Accounts?
4. What do you understand by Labour Turnover? How is it measured? What are its causes? What are the remedial steps you would suggest to minimize its occurrence?
5. What do you understand by overtime premium? What is the affect of overtime payment on productivity and cost?
6. Explain the methods and objectives of job evaluation.
7. Discuss the objectives of time keeping and time booking.
8. What is blanket overhead rate? In which situations, blanket rate is to be used and why?
9. What are the advantages of integrated accounting?
10. Why is it necessary to reconcile the profits between the Cost Accounts and Financial Accounts?
11. How do you accounts for by-product in cost accounting:
a. when they are of small total value
b. when they are of considerable total value
c. when they require further processing
12. What are the methods used for segregating Semi Variable cost into Fixed Cost and Variable Cost?
13. What is Non-Integrated Accounting System?
14. What are essential Pre-requisites for Integrated System?
15. What are the Absolute and Commercial tonne kilometers?
16. What is the Accounting Treatment for standard cost?
17. What is the meaning of disposition of variance?
18. What are the objectives of budgetary control?
1. Cost unit and Cost centre
2. Cost centre and Profit centre
3. Explicit costs and Implicit cost
4. Marginal costing and Differential costing
5. Job evaluation and Merit Rating
6. Allocation and Apportionment
7. Job Costing and Batch Costing
8. Job Costing and Process Costing
9. Operating Costing and Operation Costing.
10. Joint Product and By Product
11. Cost reduction and Cost control.
12. Profit Centres and Investment Centres
13. Product Cost and Period Cost
14. Job Costing and Contract costing
15. Standard cost and estimated cost.
16. Standard Costing and Budgetary Control.
17. Absorption Costing and Marginal Costing
18. Marginal Cost and Differential Cost.
SHORT NOTES QUESTIONS:
1. Conversion cost
2. Sunk cost
3. Opportunity cost
4. Cost-plus contracts.
5. Escalation Clause.
6. Relevant costs
7. Retention Money
8. Split off point
10. Margin of Safety
11. Angle of Incidence
12. Key Factor
- Explain the two basic aspects of financial management
- What are the characteristics of source of funds
- What are the two basic objectives of financial management
- What are all the factors influencing the working capital requirements
- Explain operating cycle
- The impact of double shift working on various components of working capital
- Explain the functions of the treasury department
- Explain various types of floats in the context of cash management
- Assumptions under J. Baumol's model
- Explain Miller – ORR cash management model
- Procedure involved in factoring
- Explain the procedure for issue of commercial paper
- Short notes on modified internal rate of return method
- Short notes on capital rationing
- Difference between implicit vs. Explicit cost of capital
- What are all the factors determining capital structure
- Short notes on optimum capital structure
- What are all the assumptions in capital structure theories
- Explain net operating income approach
- What are all the assumptions in Modigliani and Miller approach (mm)
- Short notes on trading on equity
- Explain the concept of bridge finance
- Explain various methods of venture capital financing
- Procedure involved in debt securitisation
- Explain lease financing
- Explain seed capital assistance
- Difference between ADR & GDR
- Explain ploughing back of profit
- Explain DU PONT chart
- Difference between funds flow statement & cash flow statement
All the very best for your exam
Doubt clarification – Ct.98416 61405
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