Sunday, December 22, 2024
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Paper 8: Cost & Management Accounting (One Paper: 3 hours:100
marks)
1. Basic aspects of Cost Accounting
Cost Concepts and Classification of costs
Materials: accounting and control systems procedures and techniques
Labour: accounting, incentive schemes and control systems and procedures
Direct Expenses
Indirect expenses: allocation, apportionment, re-apportionment and absorption
of overhead costs.
Cost Accounting Standards.
2. Cost Accounting Methods and systems
Job, batch, contract and process costing.
Cost accounting for service sector
Accounting entries for an integrated accounting system – cost ledgers
Reconciliation between cost and Financial profit and loss account.
Interlocking accounting
3. Decision Making Tools
Marginal costing, break even analysis and its applications in decision
making
Absorption costing as a system of profit reporting and stock valuation.
Throughput accounting as a system of profit reporting and stock valuation.
Activity-based costing for profit reporting and stock valuation.
Integration of standard costing with marginal cost accounting, absorption
cost accounting and throughput
accounting.
Process costing including establishment of equivalent
units in stock, work-in-progress and abnormal loss accounts
and use of various methods like first-in-first-out, average cost and standard
cost methods of stock valuation.
4. Budgeting
Budget Concepts and Preparation
Fixed and Flexible Budgets
Time series analysis including moving totals and averages, treatment of
seasonality, trend analysis using
regression analysis and the application of these techniques in forecasting
product and service volumes.
Fixed, variable, semi-variable and activity-based categorizations of cost
and their application in projecting
financial results.
Zero base budgeting
5. Standard Costing
Manufacturing standards for material, labour, and overhead.
Price/rate and usage/efficiency variances for materials, labour and overhead.
Further subdivision of total
usage/efficiency variances into mix and yield components.
Fixed overhead variances.
Planning and operational variances.
Sales price and sales revenue/margin volume variances (calculation of
the latter on a unit basis related to revenue,
gross margin and contribution margin). Application of these variances
to all sectors, including professional services
and retail analysis.
Interpretation of variances: interrelationship, significance.
Benchmarking for setting standards
6. Costing and performance management
Business performance measurement for performance improvement
7. Recent trends in cost and Management Accounting
Paper 9: Operation Management and Information Systems (One Paper:
3 hours:100 marks)
A. Operation Management ( 50 marks)
1. Overview of Production Process
Fabrication process
Metal working process – forming, heat treatment, welding, surface
treatment etc.
Machining process
Class of machine – Lathes, drilling, grinding, milling, planing,
shaping, slotting etc.
Special purpose machine – special grinding, hobbing, honing, cutting
tools, jigs and fixtures etc.
Pump, motor, transformer, electrical drives,
Classification of industries based on production process
Technological aspects of different production process like power, pollution
control, recovery process,
Plant layout , material handling system etc
2. Production Planning & Productivity management
Time study, work study, method study, Job Evaluation.
Production planning and control-Introduction.
Forecasting
Capacity planning and Utilization.
Process planning,
Project planning.
Progressing and follow-up.
Despatching.
Scheduling Technique & Line Balancing Problem
Economic batch production
Human Resource Planning
Material Requirement Planning
Productivity measurement techniques of factors of production
Quality Control
3. Maintenance Management
Obsolescence, replacement of machinery
Breakdown maintenance, preventive maintenance & Routine Maintenance
Maintenance Techniques
Maintenance organization
Maintenance problems etc
4. Resource Management
Input-output ratio
Linear programming
Transportation
Replacement of machine
Change of Technology and its implication
B. Information Systems ( 50 marks)
1. Information System Analysis and Design
Information System-Systems development life cycle, Structured Systems
Analysis and Design, Physical and Logical
Data Flow Diagrams, Requirements Analysis, Design of New Systems. Data
Modeling, data dictionary, entity
relationship diagram, structure charts, Transform and Transaction Analysis,
Applications in Financial & Cost
Management
2. Database Management Systems
File & Data Base Concept, Overview of DBMS, Data Models, Database
Administrator, Database Users, Schema.
Data Independence, Relational Database Management System (RDBMS), some
applications of RDBMS using
Oracle & SQL Server
3. Management Information Systems (MIS) 15%
Introduction, People & Organization, System & models, Decision
process and evaluation thereof, transaction
processing & management reporting, MIS in functional areas: Finance
& Cost Management, Inventory, Marketing,
HRM.
4. Enterprise Resource Planning (ERP) 10%
Functional architecture of ERP, Material requirement planning & ERP,
Business Process Reengineering & ERP,
Supply chain management, Some applications involving SAP & Oracle
(Financial), Change Management and ERP
Implementations, Technology and International Considerations in implementation
of ERP.
Paper 10: Applied Indirect Taxes (One Paper: 3 hours:100 marks)
1. Canons of Taxation - Indirect Taxes
Features of Indirect Tax. Constitutional validity. Indirect Tax Laws,
administration and relevant procedures
2. Central Excise
The Central Excise Law
Goods, Excisable goods, Manufacture and manufacturer, Classification,
Valuation, Related Person, Captive
Consumption, CAS 4, CENVAT.
Basic procedures, Export, SSI, Job Work.
Assessment, Demands, Refund, Exemptions;
Powers of Officers.
Adjudication, Appeals, Settlement Commission, Penalties .
Central Excise Audit and Special Audit under 14A and 14AA of Central Excise
Act
Impact of tax on GATT 94, WTO, Anti Dumping processing;
Tariff Commission and other Tariff authorities.
3. Customs laws
Basic concepts of customs law;
Territorial waters, high seas;
Types of custom duties., Anti- Dumping Duty, Safeguard Duty;
Valuation;
Customs Procedures, Import and Export Procedures, Baggage.
Exemptions.
Warehousing, Demurrage;
Project Imports and Re- Imports;
Penalties and Offences.
Export Promotion Schemes. EOU
Duty Drawback.
Special Economic Zones.
4. Service Tax
Introduction, Nature of Service Tax.
Service Provider and Service Receiver.
Registration procedure
Records to be maintained
Classification of taxable services
Valuation of taxable services.
Exemptions and Abatements.
Payment of service tax, Return
Cenvat Credit Rules
Export and import of services.
Other aspects of Service Tax.
Taxable Services.
Special Audit under 14A and 14AA of Central Excise Act
5. Central Sales Tax Act & VAT Act
Introduction, definition of sale under CST;
Stock transfer, branch transfer under CST;
Inter state sale,
Various forms for filing of sales tax returns under CST;
Sales outside territorial waters under CST;
Procedures.
Practical examples on CST.
VAT, Salient features of State VAT Acts
Treatment of stock & branch transfer under State VAT Acts
Filing & Return under State VAT Acts
Accounting & Auditing VAT
6. Practical problems and Case Studies under Indirect Tax Laws
Group discussion
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