Paper 3 :

Cost and Management Accounting

Cost and Management Accounting

10  Process & Operation Costing

 

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12   Service Costing

 

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11   Joint Products & By Products

 

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01  Introduction to Cost and Management Accounting

 

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03   Employee Cost and Direct Expenses

 

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05  Activity Based Costing

 

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08  Unit & Batch Costing

 

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10  Process & Operation Costing

 

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02   Material Cost

 

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04   Overheads: Absorption Costing Method

 

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06  Cost Sheet

 

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09  Job Costing and Contract Costing

 

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01  Introduction to Cost and Management Accounting

 

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03   Employee Cost and Direct Expenses

 

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05  Activity Based Costing

 

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07  Cost Accounting System

 

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09  Job Costing and Contract Costing

 

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11  Joint Products & By Products

 

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13  Standard Costing

 

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15  Budget and Budgetary Control

 

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02   Material Cost

 

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04   Overheads: Absorption Costing Method

 

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06  Cost Sheet

 

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08  Unit & Batch Costing

 

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10  Process & Operation Costing

 

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12  Service Costing

 

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14  Marginal Costing

 

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16   Past Examination Questions

 

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About Cost and Management Accounting

 

Cost and Management Accounting is an enabler for a CA to face today’s ever-growing global business environment with overall skill sets. Cost and Management Accounting assures moderate level of knowledge in costing concepts and application of the same. This paper was initially part of the subject costing and financial management. ICAI decided to focus on Cost and Management Accounting in its own right because, as a CA, you need 

  • To understand how an organization works internally 
  • To have a foundation for Strategic Cost Management & Performance Evaluation which will be studied at CA Final level 
  • To enhance your logical thinking  

 

The topics covered in Cost and Management Accounting is,

  • Introduction 
  • Elements of Cost – Material, Labour & Overheads 
  • Activity Based Costing 
  • Cost Sheet 
  • Cost Accounting System 

 

The best approach to study Cost and Management Accounting is,

  • Read the question properly; many students would have understood the concepts correctly but may not have answered in the way ICAI expects you to write the answer 
  • Conceptual knowledge is a must because adjustments in a question can be different from that of study material issued by ICAI .You may make not of all the numerical data given at the beginning of your solution while reading the question. Examiners play with English in this paper; it is important to understand the question correctly. Present all the steps in form of working notes. Also, give appropriate references to the main answer 
    Do not skip any chapter 
  • Make note of difficult adjustments that you find while practicing either in separate book or just in the corner of page where the problem is found. This exercise will help in saving time while revising

Faculty

CA Hariharan K
CA Hariharan K
CA Ashwini K K
CA Ashwini K K
CMA Raveendranath Kaushik
CMA Raveendranath Kaushik

Resources

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