COSTING AND FINANCIAL MANAGEMENT
IMPORTANT THEORY QUESTIONS
FOR CA IPCC – May.2014 EXAM
1) Short notes:
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Responsibility centre
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Differential cost
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Pre-production cost
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Opportunity cost
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Out-of-pocket cost
-
Conversion cost
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Retention money
-
sunk costs
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Discretionary costs
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Escalation clause
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Idle time
-
ABC analysis
-
Key factor
-
integrated accounting
system
-
split off point
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Angle of incidence
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External Commercial
Borrowings (ECB)
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Debt securitization
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Zero Coupon Bonds
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Aging schedule
2) Differentiate:
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Product costs & period costs
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Controllable & uncontrollable
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Implicit costs& explicit costs
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Bin Cards
& Stores Ledger
-
cost
reduction and cost control
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cost centre vs. cost unit
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Casual Worker and Outworker
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Allocation and apportionment
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BOM Vs.MRN
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Perpetual inventory &
continuous stock taking
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Time Keeping and Time
Booking
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Job Evaluation & Merit Rating
-
Marginal costing and
absorption costing
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Fixed and flexible budget
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Blanket overhead rates & departmental
rates
-
Job & contract
costing
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Operation cost &
operating cost
-
Job costing & process
costing
-
Job Vs. batch costing
-
Joint-product and
by-product
-
Profit maximization vs.
wealth maximization
-
Implicit vs. Explicit cost of capital
-
Working capital cycle
-
Open ended & close
ended lease
-
Business risk &
financial risk
-
funds flow statement
& cash flow statement
-
ADR Vs. GDR
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Concentration banking
& lock box system
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Miller – Orr cash
management model
-
Bridge finance and seed capital assistance
3) Differentiate between WASTE and SPOILAGE and its
cost accounting treatment
4) Discuss the concept of overtime premium & its accounting
treatment
5) Identify the causes of labour turnover
6)
Enumerate the objectives of cost accounting
7)
Discuss essential features of a good cost accounting system
8) Methods of
segregating Semi-variable costs into fixed and variable costs
9) Costs which are associated with labour turnover
10)Treatment
of under-absorbed overheads in cost accounting
11)List down the advantages of cost plus contract
12)Discuss the accounting
treatment of by-product
13)Discuss
cost-volume-profit analysis
14)Discuss General ledger adjustment account
15)Costing accounting
treatment of under absorption and over absorption of overhead
16)
Discuss the role of CFO.
17)List down the functions
of the treasury department:
18)Enumerate the
pre-requisites for integrated accounts
19) Identify the causes for differences between
Income under cost and financial accounts
20)Discuss basic aspects of
financial management
21)List down characteristics
of source of funds
22)Different types of
packing credit facilities
23)List down the features of
commercial papers
24)Discuss the types of
floats in the context of cash management
25)Discuss the procedure for
factoring
26) Methods of computation of time value of
money
27) List down the assumptions in capital
structure theories
28) List down the assumptions under Modigliani
and miller approach (MM)
29) Brief on concept of trading on Equity
30) Discuss Modified internal rate of return
method
31) Define optimum capital structure and its
benefits.
32) Need for debt service coverage ratio
33) Discuss Du Pont chart for calculating
return on equity
34) List down methods of Venture Capital
Financing
35) Briefly discuss lease financing
36) Discuss on ploughing back of profit
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