Showing posts with label DOWNLOADS. Show all posts
Showing posts with label DOWNLOADS. Show all posts
Monday, 1 December 2014
Sunday, 30 November 2014
Tuesday, 1 April 2014
Costing and Fm Important Topics | Download | Tips
This subject has two shades. It has been a boon for a set of students and for some, it has been a curse.
So we decided to go deep into the matter and have inquired 300+ students, which includes students who have been failing this subject for at least two attempts and students who have got exemptions. We also extracted much needed info from a student from Vijayawada who scored 86 in this subject.
Almost all the students who succeeded in this have noted the same point, PRACTICING WITH PEN AND A BOOK. A close analysis of the preparation style of students who have been failing revealed that, most of them were just going through the questions and not putting them on to the paper. Not just Seeing, PRACTICE, PRACTICE and PRACTICE. By looking at the book, it looks like everything is ok, but once you put the pen on the paper, it wont move after two steps.
Second point is the presentation. Costing is all about presentation. You may bring the solution, but unless you present it in a format, you are not going to score marks. We have obtained the certified copies of a few students which revealed the same.
“Kindly Read it & Share It”
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Important Topics
Costing :
Important Chapters - Practical
_ Material Cost
_ Marginal Costing (BEP, MOS, PV ratio Etc.)
_ Standard Costing (Total Variances)
_ Budgeting Control
_ Process Costing (Most Important)
_ Joint & By Product
_ Labour – Bonus Calculation (Rowan/halsey)
Important Chapters – Theory
_ Basic Concepts in costing- Different types of cost
_ ABC Analysis
_ Treatment of Under/over absorbed Overhead
_ Integrated accounts
_ Methods to apportion joint costs
Financial management :
Important Chapters- Practical
_ Cost of Capital
_ Leverages (DOL,DFL,DCL)
_ Cash Flow Statement
_ Working Capital Changes - Debtor Management & Estimation of Working capital Requirement
_ Ratio Analysis – Calculation of Ratios
Important Chapters – Theory
_ Basic Concepts in FM – Profit Vs Wealth Maximizations (Most Important)
_ Source of Finance – Venture Capital Finance, Debt Securitizations
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IPCC Costing & FM Imp Questions for May 2014
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Go Through the Important Theory Questions in Costing and FM, for CA IPCC May 2014 Exams.
Even though enough care is taken while selecting the questions, students are recommended not to put in too much reliance on these.
Costing:
· Discretionary Costs
· Conversion Cost
· Product Costs Vs Period Costs
· Bin Cards Vs Stores Ledger
· Allocation and Apportionment
· Accounting Treatment for Over-time Premium
· Short Notes on General Ledger Adjustment Account
· Advantages of Cost-Plus Contract
Financial Management (FM):
· External Commercial Borrowings
· Business Risk Vs Financial Risk
· ADR Vs GDR
· Role of CFO
· Types of Floats in the context of Cash Management
· Benefits of Optimum Capital Structure
· Ploughing Back of Profits
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Preparation Tips
1. Pay due attention on theory ..some students
doesnt do that it contains weightage of 20- 28 marks in the paper.
2. If u have problem in doing the whole theory
portion just do past examination question or from
scaner or from practice manual (all r equal )
3. pay equal attention on CA n FM dont go in
exams on the base of any 1 of them
4. If u dont know any answer n dont have any
single idea about its better to leave that
for eg :- if in exams GDR (global depository
reciepts) comes n u write deposits that reciept in whole world it will make a bad impression of u on checker
5. make proper working notes it plays a vital
role in step marking watever calculation u do name them as working note .
6. dont pay unnecesary tym in solving
particular question
7. if u r using any formula in ur solution then first write it n then put numbers or figures in it . this shows ur knowledge about formulaes
8. Always do RTP’s hope this will work out for u.
Part A: Cost Accounting
1.Without a doubt you should do Standard & Marginal Costing in starting. Not even a single theory question asked from this two topics so just concentrate on practical questions. Try to make your own notes or summary of all formula as this chapters based on formula only. Around 16-20 marks covered by this two topics.
2.Now you should do Contract, Process , Equivalent, Budgetary & Operating Costing. This topics again cover 16-20 marks. Theory will come from Budgetary & Operating only. Better to go through Practice Manual also as sometimes not exact but of same pattern question comes in exam.
3.Now you should do small topics like Material, Labour & Overhead . Mainly question comes from Direct Material like EOQ, Re-order level etc. Don’t waste much time on Labour & Overhead as they are lengthy as well as not questions not frequently asked from this topics.
4.Now do this 3 topics from Practice Manual only because question get repeated in this topics: Non Integrated, Integrated Account & Reconciliation of Cost & Financial Accounts.
5.Generally 16 marks theory questions asked in exam.
Part B : Financial Management:
1.You should start with Capital Budgeting and than Cost of Capital this both chapters covers 16-20 marks easily, mainly practical question comes from this chapters so don’t waste time on reading theory. If anyone not interested in doing material which he/she have than just do all question from practice manual of this topic.
2.Now you should do leverage , Ratios & Working Capital Management. This topic are easiest as well scoring topics. This covers again around 20 marks minimum and both practical & theory questions asked from it. Do this topics properly from your books which u have than do question from Practice Manual and mainly theory questions comes from Practice manual only.
3.Than do Cash Flow Statement & Fund Flow Statement, as we studied this topics earlier so do it fast and don’t waste much time both theory and practical questions may be asked. Marks covered around 8 but sometimes 16 marks big question also asked so prepared for it.
4.Now do theory properly as this paper contain good questions of theory & overall theory asked in the question paper is minimum of 30-32 marks out of which 16-20 mark’s theary is from Financial Management. Important topics for theory are Basic Chapter, Ratios (Importance & Limitation), Types of Financing, Management of Debtors etc. (Make sure once you read all theory question in Practice Manual.)
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Sunday, 16 March 2014
Applicability of The Companies Act 2013 - November 2014 CA Exams
The Central Government has notified 98 sections of The Companies Act 2013 on 12th September, 2013. Accordingly, those 98 notified sections are applicable for November 2014 examinations corresponding to their bifurcation into the Intermediate (IPC) and Final Course(s), i.e. from these 98 sections, 53 sections have been included in the Paper – 2, Business Laws, Ethics and Communication, Intermediate (IPC) Course, and 45 have been included in the Paper- 4, Corporate and Allied Laws, Final Course.
For reference and benefit of our students, the Board of Studies has released the following publications relevant for November, 2014 examinations for Paper – 2, Business Laws, Ethics and Communication, Intermediate (IPC) Course, and Paper- 4, Corporate and Allied Laws, Final Course:
Supplementary study material for Intermediate (IPC) Course
Intermediate (IPC) Course
SYLLABUS
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PAPER – 2 : BUSINESS LAWS, ETHICS AND COMMUNICATION
PART I – BUSINESS LAWS (60 MARKS)
Business Laws (30 Marks)
1. The Indian Contract Act, 18722. The Negotiable Instruments Act, 1881
3. The Payment of Bonus Act, 1965
4. The Employees’ Provident Fund and Miscellaneous Provisions Act, 1952
5. The Payment of Gratuity Act, 1972.
Company Law (30 Marks)
The Companies Act, 1956 – Sections 1 to 197
(a) Preliminary
(b) Board of Company Law Administration ─ National Company Law Tribunal; Appellate Tribunal
(c) Incorporation of Company and Matters Incidental thereto
(d) Prospectus and Allotment, and other matters relating to use of Shares or Debentures
(e) Share Capital and Debentures
(f) Registration of Charges
(g) Management and Administration – General Provisions – Registered office and name, Restrictions on commencement of business, Registers of members and debentures holders, Foreign registers of members or debenture holders, Annual returns, General provisions regarding registers and returns, Meetings and proceedings.
(i) Company Law in a computerized Environment – E-filing.
Note: If any provision of The Companies Act 2013 comes into force in place of an existing provision under the Companies Act, 1956 or otherwise by way of new provision, the syllabus would accordingly include the corresponding or new provisions of The Companies Act 2013, as the case may be.
Recommended Post
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Part II – : ETHICS (20 Marks)
1. Introduction to Business Ethics
The nature, purpose of ethics and morals for organizational interests; Ethics and Conflicts of Interests; Ethical and Social Implications of business policies and decisions; Corporate Social Responsibility; Ethical issues in Corporate Governance.
2. Environment issues
Protecting the Natural Environment – Prevention of Pollution and Depletion of Natural Resources; Conservation of Natural Resources.
3. Ethics in Workplace
Individual in the organisation, discrimination, harassment, gender equality.
4. Ethics in Marketing and Consumer Protection
Healthy competition and protecting consumer’s interest.
5. Ethics in Accounting and Finance
Importance, issues and common problems.
Part III – COMMUNICATION (20 Marks)
1. Elements of Communication
(a) Forms of Communication: Formal and Informal, Interdepartmental, Verbal and nonverbal;
Active listening and critical thinking
(b) Presentation skills including conducting meeting, press conference
(c) Planning and Composing Business messages
(d) Communication channels
(e) Communicating Corporate culture, change, innovative spirits
(f) Communication breakdowns
(g) Communication ethics
(h) Groups dynamics; handling group conflicts, consensus building; influencing and persuasion skills; Negotiating and bargaining
(i) Emotional intelligence – Emotional Quotient
(j) Soft skills – personality traits; Interpersonal skills ; leadership
2. Communication in Business Environment
(a) Business Meetings – Notice, Agenda, Minutes, Chairperson’s speech
(b) Press releases
(c) Corporate announcements by stock exchanges
(d) Reporting of proceedings of a meeting
3. Basic understanding of legal deeds and documents
(a) Partnership deed
(b) Power of Attorney
(c) Lease deed
(d) Affidavit
(e) Indemnity bond
(f) Gift deed
(g) Memorandum and articles of association of a company
(h) Annual Report of a company
SYLLABUS
PAPER – 6 : AUDITING AND ASSURANCE
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1. Auditing Concepts ─ Nature and limitations of Auditing, Basic Principles governing an audit, Ethical principles and concept of Auditor’s Independence, Relationship of auditing with other disciplines.
2. Standards on Auditing and Guidance Notes ─ Overview, Standard-setting process, Role of International Auditing and Assurance Standards Board, Standards on Auditing issued by the ICAI; Guidance Note(s) on ─ Audit of Fixed Assets, Audit of Inventories, Audit of Investments, Audit of Debtors, Loans and Advances, Audit of Cash and Bank Balances, Audit of Miscellaneous Expenditure, Audit of Liabilities, Audit of Revenue, Audit of Expenses and provision for proposed dividends.
3. Auditing engagement ─ Audit planning, Audit programme, Control of quality of audit work ─ Delegation and supervision of audit work.
4. Documentation ─ Audit working papers, Audit files: Permanent and current audit files, Ownership and custody of working papers.
5. Audit evidence ─ Audit procedures for obtaining evidence, Sources of evidence, Reliability of audit evidence, Methods of obtaining audit evidence ─ Physical verification, Documentation, Direct confirmation, Re-computation, Analytical review techniques, Representation by management, Obtaining certificate.
6. Internal Control ─ Elements of internal control, Review and documentation, Evaluation of internal control system, Internal control questionnaire, Internal control check list, Tests of control, Application of concept of materiality and audit risk, Concept of internal audit.
7. Internal Control and Computerized Environment, Approaches to Auditing in Computerised Environment.
8. Auditing Sampling ─ Types of sampling, Test checking, Techniques of test checks.
9. Analytical review procedures.
10. Audit of payments ─ General considerations, Wages, Capital expenditure, Other payments and expenses, Petty cash payments, Bank payments, Bank reconciliation.
11. Audit of receipts ─ General considerations, Cash sales, Receipts from debtors, Other Receipts.
12. Audit of Purchases ─ Vouching cash and credit purchases, Forward purchases, Purchase returns, Allowance received from suppliers.
13. Audit of Sales ─ Vouching of cash and credit sales, Goods on consignment, Sale on approval basis, Sale under hire-purchase agreement, Returnable containers, Various types of allowances given to customers, Sale returns.
14. Audit of suppliers’ ledger and the debtors’ ledger ─ Self-balancing and the sectional balancing system, Total or control accounts, Confirmatory statements from credit customers and suppliers, Provision for bad and doubtful debts, Writing off of bad debts.
15. Audit of impersonal ledger ─ Capital expenditure, deferred revenue expenditure and revenue expenditure, Outstanding expenses and income, Repairs and renewals, Distinction between reserves and provisions, Implications of change in the basis of accounting.
16. Audit of assets and liabilities.
17. Company Audit ─ Audit of Shares, Qualifications and Disqualifications of Auditors, Appointment of auditors, Removal of auditors, Powers and duties of auditors, Branch audit , Joint audit , Special audit, Reporting requirements under the Companies Act, 1956.
18. Audit Report ─ Qualifications, Disclaimers, Adverse opinion, Disclosures, Reports and certificates.
19. Special points in audit of different types of undertakings, i.e., Educational institutions, Hotels, Clubs, Hospitals, Hire-purchase and leasing companies (excluding banks, electricity companies, cooperative societies, and insurance companies).
20. Features and basic principles of government audit, Local bodies and not-forprofit organizations, Comptroller and Auditor General and its constitutional role.
Note: If any provision of The Companies Act 2013 comes into force in place of an existing provision under the Companies Act, 1956 or otherwise by way of new provision, the syllabus would accordingly include the corresponding or new provisions of The Companies Act 2013, as the case may be.
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