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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
-
- 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
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