2. High labour turnover is to be avoided. Over stocking is avoided. Cost Accounting Solved Question Papers ... April 21, 2019 in Cost Accounting Solved Question Papers, dibrugarh university, dibrugarh university solved papers. A base selected may be any one of the basis given below. Effective use of working capital: Proper inventory control helps to make effective use of working capital. Results shown by any sets of books may be taken as the base and necessary adjustment should be made to arrive at the results shown by the other set of books. 3. Minimizes the administrative workload: Proper inventory control helps to minimize the administrative work load of purchasing, inspection, warehousing, etc. Allocation is the process of identification of overheads with cost centres. CA Inter May 2019 all question papers can be downloaded from below links. Easy detection of errors - Errors and frauds can be easily detected at an early date. The Input-output Ratio is the ratio of the raw material put into manufacture and the standard raw materials content of the actual output. of the year 2019. For example, the whole of overtime wages paid to the workers relating to a particular department should be charged to that department. 7. Financial Accounting results are shown P&L A/c and balance sheet. Standard time should fix on the basis of time and motion study. of the year 2019. (v) Over-absorption of overheads in cost accounts. These fluctuations can be adjusted if there are sufficient items in the stock of. 7. It contributes to the standardization of policies regarding stock valuation, depreciation and overheads. (iii) Amounts by which items of expenditure have been shown in excess in cost accounts as compared to the corresponding entries in financial accounts. 15 October 2019 : Cost and Management Accounting (2019) past papers and other resources are now available. Causes for difference between physical balances and book balances can be explored. of the year 2019. The actual overhead cost incurred and overhead applied to the production will seldom be the same. We provide complete coaching for Commerece and Arts stream from Class 12 to Master Degree level. : It is the stock level above which stock should not be allowed to rise. Question Paper | Calcutta University. 3. Company Law; Cost and Management Accounting; Economic and Commercial Laws; Tax Laws and Practice; Module II. Ratio of selling price is worked out and the overheads are absorbed. 7. Reduces the risk of loss: Proper inventory control helps to reduce the risk of loss due to obsolescence (outdated) or deterioration of items. Business Research Methods. The techniques or the tools generally used to effect control over the inventory are the following: Budgetary techniques for inventory planning; A-B-C. System of inventory control; (SHORT NOTE), Economic Order Quantity (E.O.Q.) The sales stipulated as per sales Budget of the corresponding period generally works out to be the key factor to decide the production quantum during the budget period, which ultimately decides the purchases to be made and the inventories to be planned. d) Reconciliation of Cost Account and Financial Account. Therefore, the working capital will not be blocked in excess inventory. The formula used for determining economics order quantity is a s follows: A is the annual consumption of material in units. Banking Regulations and Operations. 8. Dynamic Tutorials and Services is a Leading Coaching Centre of Tinsukia District. The profit or loss shown by costing books may not agree with that shown by financial books. (iv) Amounts by which items of income have been shown in excess in financial accounts as compared to the corresponding entries in cost accounts. 10, Ans: Meaning of Reconciliation of Cost and Financial Accounts, The reconciliation of the profit figures of the two sets of books is necessary due to the following reasons. Cost and Management Accounting (2019) Specification, Cost and Management Accounting (2019) Notes, Cost and Management Accounting (2019) Ebooks, Cost and Management Accounting (2019) Slides. After making all the above additions and deductions, the resulting figure will be profit as per financial accounts. Investigation and evaluation - The plan should be based on scientific investigation and evaluation to produce good result. (Material may include textbooks, journals, magazines and other publications and websites.). Stability - The plan should give a stable earnings over a period of time, minimum but adequate wage must be ensured. The only motive to publish the question paper on this blog is to help the students to understand the question format. Download Other files in Students category, India's largest network for finance professionals, Download CA IPCC Cost and Management Accounting Question Papers New Course May 2019 in PDF.

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