Email me

Saturday, March 31, 2012

Costing & FM IMPORTANT THEORY QUESTIONS - May '12 Exam

PREMIER ACADEMY 



No.222, RK Mutt Road, 2nd Floor, Next to Canara Bank, Opp. to TVS Showroom, Mandaveli, Chennai – 28, 044-24622694 / 9940623954 / 9841661405 visit www.cahariharan.blogspot.com


COSTING AND FINANCIAL MANAGEMENT


IMPORTANT THEORY QUESTIONS


FOR CA IPCC/PCC – May 2012 EXAM


 


1)      Enumerate the  objectives of cost accounting


2)      For business survival cost reduction is considered important. Discuss its scope and the assumptions enumerated there under.


3)      Differentiate between cost reduction and cost control


4)      For optimizing the utility of cost accounting an organization should possess a suitable cost accounting system. Discuss essential features of a good cost accounting system


5)      Differentiate cost centre vs. cost unit


6)      Define :


     - Responsibility centre


                - Differential cost


                - Opportunity cost


                - Out-of-pocket cost


                - sunk costs


                - Discretionary costs


                - Conversion cost


                      - Uncontrollable costs


                   - Retention money


                      - Escalation clause


                   - split off point


                   - Debt securitization


                     -  Zero Coupon Bonds


                     - External Commercial Borrowings (ECB)


7)      Methods of segregating Semi-variable costs into fixed and variable costs


8)      Differentiate:


-  Product costs & period costs


      -  Implicit costs& explicit costs


      -  Bin Cards & Stores Ledger


      -  Perpetual inventory & continuous stock taking


      -  re-order level and re-order quantity


      -  Time Keeping and Time Booking


      -  Job Evaluation & Merit Rating


      -  Casual Worker and Outworker


      -  Allocation and apportionment


      -  Blanket overhead rates & departmental rates


      -  Blanket overhead rates & departmental rates


      -  Job & contract costing


      -  Operation cost & operating cost


         -  Job costing & process costing


      -  Joint-product and by-product


         - Marginal costing and absorption costing


      - Fixed and flexible budget


      - Profit maximization vs. wealth maximization


      - Implicit vs.  Explicit cost of capital


      - Business risk & financial risk


      - Bridge finance and seed capital assistance


      - ADR Vs. GDR


    


 9) How ABC ANALYSIS does helps us in optimizing cost structure of an organization.


10) Differentiate between WASTE and SPOILAGE and its cost accounting treatment


11) Discuss the concept of overtime premium & its accounting treatment


12) Identify the causes of labour turnover & costs which are associated with labour turnover


13) Treatment of under-absorbed overheads in cost accounting


14) Discuss General ledger adjustment account


15) Enumerate the concept integrated accounting system and pre-requisites for integrated accounts


16)    Identify the causes for differences between Income under cost and financial  accounts


17)  List down the advantages of cost plus contract


18)  Discuss the accounting treatment of by-product     


19)  Discuss cost-volume-profit analysis


20)  Discuss basic aspects of financial management


21)  List down characteristics of source of funds


22) Discuss the role of Chief Financial officer.


23) Briefly discuss the working capital cycle


24) List down the functions of the treasury department:


25) Discuss the types of floats in the context of cash management


26) Discuss the lock box system


27) Discuss miller – Orr cash management model


28) Discuss the procedure for factoring


29) List down the features of commercial papers


30) Methods of computation of time value of money


31) Discuss Modified internal rate of return method


32) Define optimum capital structure and its benefits.


33) List down the assumptions in capital structure theories


34) List down the assumptions under Modigliani and miller approach (mm)


35) Brief on concept of trading on Equity


36) List down methods of Venture Capital Financing


37) Briefly discuss lease financing


38) Discuss on ploughing back of profit


39) Need for debt service coverage ratio


40) Discuss Du Pont chart for calculating return on equity


41) Difference between funds flow statement & cash flow statement


Follow Rediff Deal ho jaye! to get exciting offers in your city everyday.

Monday, March 26, 2012

CA Final Costing Clz Schedule

PREMIER ACADEMY 

No.222, RK Mutt Road, 2nd Floor, Next to Canara Bank, Opp. to TVS Showroom, Mandaveli, Chennai – 28, 044-24622694 / 9940623954 / 9841661405

 

FINAL– Cost Mgt. & QT

7 days Crash course (For May '12 CA Exams)

Regular Class

(For Nov '12 CA Exams)

Starts on : 4th April

Timing: 10am-5pm 

Days : Costing 4th, 5th, 6th, 9th & 10th ; QT 7th & 8th April)

Fees: Costing 3250;

            QT Rs.1000

 

BATCH – I

Starts on : 7th June

Timing: 6.15 -8.45am 

Days : T/T/Sat.

Duration : 3 Months

BATCH – II

Starts on : 25th June

Timing: 1.45 -5.15pm 

Days : Mon to Fri day

Duration : 1 ½  Months

Faculty

Costing – CA.K.Hariharan;

QT – Dr.P.R. Vittal

Fees

Costing Rs.4500; QT Rs.1500 (including course materials + 7 model exams)

Venue

 

PREMIER ACADEMY, No.222, RK Mutt Road, 2nd Floor, Next to Canara Bank, Opp. to TVS Showroom, Mandaveli, Chennai – 28, 044-24622694 / 9841661405

 

Sunday, March 25, 2012

CA Final Regular Class Cost Mgt. & QT - Nov.12 Exam

PREMIER ACADEMY 



No.222, RK Mutt Road, 2nd Floor, Next to Canara Bank, Opp. to TVS Showroom, Mandaveli, Chennai – 28, 044-24622694 / 9940623954 / 9841661405



CA Exams-Nov'12


CA Final Regular Class


 


Sub: Cost Mgt. & QT


 


BATCH - I


Starts on : 7th June


Timing: 6.15am-8.45am 


Days : T/T/Sat.


Duration : 3 Months


 


BATCH – II


Starts on : 25th June


Timing: 1.45pm-5.15pm 


Days : Mon to Fri day


Duration : 1 ½  Months


 


 


Faculty: Costing – CA.K.Hariharan; QT – Dr.P.R. Vittal


Fees: Costing Rs.4500; QT Rs.1500 (including course materials + 7 model exams)


Venue: PREMIER ACADEMY, No.222, RK Mutt Road, 2nd Floor, Next to Canara Bank, Opp. to TVS Showroom, Mandaveli, Chennai – 28, 044-24622694 / 9841661405


Follow Rediff Deal ho jaye! to get exciting offers in your city everyday.

CA Final Regular Class Cost Mgt. & QT

PREMIER ACADEMY 



No.222, RK Mutt Road, 2nd Floor, Next to Canara Bank, Opp. to TVS Showroom, Mandaveli, Chennai – 28, 044-24622694 / 9940623954 / 9841661405


 CA Exams-Nov'12


CA Final Regular Class


 


Sub: Cost Mgt. & QT


Starts on : 7th June


Timing: 6.15am-8.45am  


Days : T/T/Sat.


Duration : 3 Months


Faculty: Costing – CA.K.Hariharan; QT – Dr.P.R. Vittal


Fees: Costing Rs.4500; QT Rs.1500 (including course materials + 7 model exams)


Venue: PREMIER ACADEMY, No.222, RK Mutt Road, 2nd Floor, Next to Canara Bank, Opp. to TVS Showroom, Mandaveli, Chennai – 28, 044-24622694 / 9841661405


Follow Rediff Deal ho jaye! to get exciting offers in your city everyday.

Model Exam – IPCC - Costing & FM

PREMIER ACADEMY 



No.222, RK Mutt Road, 2nd Floor, Next to Canara Bank, Opp. to TVS Showroom, Mandaveli, Chennai – 28, 044-24622694 / 9940623954 / 9841661405



Model Exam – IPCC


Subj: Costing & FM


Date: 3rd April '12


Time: 10am to 1pm


Venue: PREMIER ACADEMY


Fees: Rs.75 Pre Registration must  Ct. 044- 2462 2694 ( For Premier Academy Studeents - Free)


 



Follow Rediff Deal ho jaye! to get exciting offers in your city everyday.

Info Tech & SM – Crash course - Revised class schedule


PREMIER ACADEMY 



No.222, RK Mutt Road, 2nd Floor, Next to Canara Bank, Opp. to TVS Showroom, Mandaveli, Chennai – 28, 044-24622694 / 9940623954 / 9841661405


 Revised class schedule


Info Tech & SM – Crash course


29th March to 2nd April – 5 full days class (10am t0 5 pm)


By Mr.BVN Rajeswer sir


Follow Rediff Deal ho jaye! to get exciting offers in your city everyday.

HIGH LIGHTS OF UNION BUDGET 2012 - P.SAIJAYRAM,

HIGH LIGHTS OF


UNION BUDGET  2012



By P.SAIJAYRAM, SRO 0313279, IPCC Student – PREMIER ACADEMY, Chennai,  Ph: 09382877019


INCOME TAX:-


INCOME TAX SLAB RATES


 FOR INDIVIDUALS (MEN AND WOMEN ) BELOW 60 YEARS:-                                                                             



















INCOME IN RUPEES


 


% OF TAX ON INCOME


UP TO 200000


NIL


200001 TO 500000


10%


500001 TO 1000000


20%


ABOVE 1000000


30%


 


FOR SENIOR CITIZEN  WHOSE AGE IS 60 YEARS OR MORE BUT LESS THAN 80 YEARS:-



















INCOME IN RUPEES


 


% OF TAX ON INCOME


UP TO 250000


NIL


250001 TO 500000


10%


500001 TO 1000000


20%


ABOVE 1000000


30%


 


FOR  VERY SENIOR CITIZEN  WHOSE AGE IS 80 YEARS OR MORE:-
















INCOME IN RUPEES


 


% OF TAX ON INCOME


UP TO 500000


NIL


500001 TO 1000000


20%


ABOVE 1000000


30%


PLUS 3% EDUCATIONAL CESS ON TAX AMOUNT IS APPLICABLE ON ALL PERSONS


TURNOVER LIMIT FOR COMPULSORY TAX AUDIT FOR SME'S RAISED FROM Rs.60 LAKH TO ONE CRORE


 


ALTERNATE MINIMUM TAX (AMT) ON ALL PERSONS OTHER THAN COMPANIES (AFECTS TO THE PERSON WHOSE TOTAL INCOME IS MORE THAN 20 LAKHS)


 


REMOVAL OF CASCADING EFFECT OF DIVIDEND DISTRIBUTION TAX (DDT)


 


REDUCTION IN THE RATE OF SECURITIES TRANSACTION TAX FROM THE EXISTING 0.125% TO 0.1%


 


CONCESSIONAL RATE OF TAXATION @15% ON GROSS DIVIDEND RECEIVED BY THE INDIAN COMPANY FROM SPECIFIED FOREIGN COMPANY


ADDITIONAL DEDUCTION FOR INVESTMENT IN INFRA BONDS OF RS.20000 REMOVED


 


ANY DONATIONS MADE ABOVE A SUM OF Rs.10000 SHALL BE ELIGIBLE FOR DEDUCTION ONLY IF SUCH SUM IS PAID BY ANY MODE OTHER THAN CASH


 


SENIOR CITIZENS NOT HAVING INCOME CHARGEABLE UNDER THE HEAD " PROFITS AND GAINS OF BUSINESS OR PROFESSION" SHALL NOT BE LIABLE TO PAY ADVANCE TAX


 


UNDISCLOSED INCOME FOUND DURING THE COURSE OF SEARCH AND ADMITTED


AT THE STAGE OF SEARCH WILL ATTRACT PENALTY OF 10%


 IF ADMITTED AT THE STAGE OF FILING OF RETURN WILL ATTRACT PENALTY @20%  AND


 IN ANY OTHER CASE PENALTY RANGE BETWEEN 30% TO 90% OF UNDISCLOSED INCOME


 


TAXATION OF CASH CREDITS, UNEXPLAINED MONEY, INVESTMENTS ETC @30%


 


TDS AT THE RATE OF 10% TO BE DEDUCTED ON REMUNERATION PAID TO THE DIRECTOR WHICH IS NOT IN THE NATURE OF SALARY.


 


TDS TO BE DEDUCTED ON DEBENTURES IF THE  INTEREST AMOUNT EXCEEDS RS.5000


 


TDS @1% ON TRANSFER OF CERTAIN IMMOVABLE PROPERTIES (OTHER THAN AGRICULTURAL LAND) IF THE CONSIDERATION EXCEEDS


RS.50 LACS IN CASE OF URBAN AREAS


RS.20 LACS IN CASE OF RURAL AREAS


 


TCS @1% IN THE SALES OF BULLION AND JEWELLERY PROVIDED IF THE PERSON PAID IN CASH FOR MORE THAN RS.2 LACS


 


SHARE PREMIUM IN EXCESS OF FAIR MARKET VALVE WILL BE TREATED AS INCOME. THIS WILL INCREASE THE TAX OUTGO FOR FIRMS AS SHARE PREMIUM HAS SO FAR HAS BEEN TREATED AS CAPITAL


 


TAX ATTRACTED ON TRANSFER OF CAPITAL ASSETS ON PROPERTY LOCATED IN INDIA WHICH IS BIG BLOW TO FOREIGN INVESTORS


 


INTRODUCTION OF COMPULSORY REPORTING REQUIREMENT IN CASE OF ASSETS HELD ABROAD BY RESIDENTS


 


RESIDENT HAVING ANY ASSET OUTSIDE INDIA NEED TO FILE THE RETURN OF INCOME COMPULSORILY EVEN IF HE DOESNOT HAVE TAXABLE INCOME


 


EXTENDED PERIOD OF 16 YEARS FOR REASSESSMENT IN RESPECT OF PERSONS WHOSE INCOME IN RELATION TO SUCH ASSETS LOCATED OUTSIDE INDIA


 


NEW RULES REGARDING TRANSFER PRICING INCREASE THE TAX OUTGO AND COMPLIANCE BURDEN WILL RISE.


 


NO TAX ON  INTEREST INCOME OF  SAVING BANK A/C  UP TO RS.10000


DEDUCTION U/S 80D ALLOWED FOR MEDICAL CHECK UP  UPTO RS.5000


SERVICE TAX:-


SERVICE TAX RAISED FROM 10% TO 12%


SERVICE TAX IS TO BE CHARGED TO ALL SERVICE EXCEPT THOSE IN THE NEGATIVE LIST


THE NEGATIVE LIST CONSIST OF 17 SERVICES


SALES TAX:-


WORKS CONTRACT COMPOSITION RATE INCREASED FROM 4% TO 4.8%


CUSTOMS DUTY:-


CUSTOMS DUTY ON LNG HAS BEEN ABOLISHED


 


FULL EXEMPTION FROM CUSTOM DUTY FOR IMPORT OF LITHIUM-ION CELLS USED IN ELECTRIC,   HYBRID VEHICLES.


 


STANDARD GOLD, PLATINUM BARS TO ATTRACT 4% CUSTOMS DUTY


 


IMPORT ON NON STANDARD GOLD WILL ATTRACT 10%


 


 CUSTOMS DUTY WAIVED ON INPUTS FOR FERTILISER AND IRON ORE PLANTS WHICH IS A BIG BOOST FOR INFRASTRUCTURE SECTOR


 


EXCISE DUTY ON AUTOMOBILES RAISED


 


UNBRANDED GOLD JEWELLERY WILL ATTRACT 1% EXCISE DUTY


 


NO EXCISE DUTY ON BRANDED SILVER JEWELLERY


 


RAISED THE LOWER SLAB RATE OF EXCISE DUTY FROM 1%,5% , 10% TO 2%,6%,12% RESPECTIVELY


THIS RAISE LIKELY TO IMPACT THE PACKAGED FOOD INDUSTRY


 


10% MORE TAX ON CIGARATTES LONGER THAN 65MM, EXCISE LEVY TO BE ON 50% RETAIL SELLING PRICE


 


12% MEDIAN RATE ON EXCISE DUTY WHICH IS LEVIED ON 90% OF MANUFACTURED GOODS COULD ERODE MARGINS AND MODERATE DEMAND


 


HIGHER EXCISE DUTY OF 12% ON CEMENT, MAY HIT CONSTRUCTION AND HOUSING COMPANIES.


       


DUE TO BUDGET THERE WILL BE A PRICE RISE IN:


GOLD


AUTOMOBILES ( EX CARS)


CEMENT


CIGARATTES


COST OF SERVICE RELATED JOBS


MANUFACTURED GOODS  ETC.,


        DUE TO BUDGET THERE WILL BE A PRICE LOW IN:


FERTILISERS


IRON ORE PLANTS


LITHIUM ION CELLS USED IN ELECTRIC AND HYBRID CELLS


BRANDED SILVER  ETC.,


Follow Rediff Deal ho jaye! to get exciting offers in your city everyday.
Google