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Monday, September 9, 2013

IMPORTANT THEORY QUESTIONS - IPCC - CFM - Nov.13

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    COSTING AND FINANCIAL MANAGEMENT



    IMPORTANT THEORY QUESTIONS



    FOR CA IPCC – Nov.2013 EXAM



     



    1)     
    Short notes:



    -         
    Responsibility
    centre



    -         
    Differential
    cost



    -         
    Opportunity
    cost



    -         
    Out-of-pocket
    cost



    -         
    sunk
    costs



    -         
    Discretionary
    costs



    -         
    Conversion
    cost



    -         
    Retention money



    -         
    Escalation clause



    -         
    ABC analysis



    -         
    integrated accounting system



    -         
    split off point



    -         
    Debt securitization



    -         
    Zero Coupon Bonds



    -         
    External Commercial Borrowings (ECB)



    2)     
    Differentiate:



    -         
    Product
    costs & period costs



    -         
    Controllable
    & uncontrollable



    -         
    Implicit
    costs& explicit costs



    -         
    Bin Cards & Stores Ledger



    -         
    cost reduction and cost control



    -         
    cost centre vs.
    cost unit



    -         
    Perpetual inventory & continuous
    stock taking



    -         
    Time Keeping and Time Booking



    -         
    Job Evaluation
    & Merit Rating



    -         
    Casual Worker
    and Outworker



    -         
    Allocation and apportionment



    -         
    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



    -         
    Working capital cycle



    -         
    Open ended & close ended lease



    -         
    Business risk & financial risk



    -         
    Concentration banking & lock box
    system



    -         
    Miller – Orr cash management model



    -         
    Bridge
    finance and seed capital assistance



    -         
    funds flow statement & cash flow
    statement



    -         
    ADR Vs. GDR



    3)      Enumerate the  objectives of cost accounting



    4)      Discuss essential features of a good cost accounting system



    5)     
    Methods of
    segregating Semi-variable costs into fixed and variable costs



    6)     
    Differentiate between WASTE and SPOILAGE
    and its cost accounting treatment



    7)     
    Discuss the concept of overtime premium
    & its accounting treatment



    8)     
    Identify the causes of labour turnover
    & costs which are associated with labour turnover



    9)     
    Treatment of
    under-absorbed overheads in cost accounting



    10) 
    Discuss
    General ledger adjustment account



    11) 
    Enumerate the pre-requisites for
    integrated accounts



    12) 
      Identify
    the causes for differences between Income under cost and financial  accounts



    13)  List down the advantages of cost plus contract



    14) 
    Discuss the accounting treatment of
    by-product           



    15) 
    Discuss cost-volume-profit analysis



    16)  Discuss
    basic aspects of financial management



    17)  List
    down characteristics of source of funds



    18) Discuss
    the role of CFO.



    19)  List
    down the functions of the treasury department:



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



    21)  Discuss
    the procedure for factoring



    22)  List
    down the features of commercial papers



    23)  Methods
    of computation of time value of money



    24)  Discuss
    Modified internal rate of return method



    25)  Define
    optimum capital structure and its benefits.



    26)  List
    down the assumptions in capital structure theories



    27)  List
    down the assumptions under Modigliani and miller approach (MM)



    28)  Brief
    on concept of trading on Equity



    29)  List
    down methods of Venture Capital Financing



    30)  Briefly
    discuss lease financing



    31)  Discuss
    on ploughing back of profit



    32)  Need
    for debt service coverage ratio



    33)  Discuss
    Du Pont chart for calculating return on equity










































































































































































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