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Important Costing Theory Question
« on: September 27, 2011, 09:15:03 PM »
1)   Responsibility Centre
2)   Cost. How does it different from “Expense”?
3)   Cost Object
4)   Cost Sheet
5)   Cost Allocation    Cost Allocation Bases
6)   Conversion Cost
7)   Direct Cost  & Indirect Cost
8)   Cost Assignment
9)   Cost Driver
10)   Periodic Cost
11)   Explain the concept of Semi-variable cost with an illustration
12)   Variable Costing & Absorption Costing
13)   What do you understand by budgeting ?  What are the various advantages and disadvantages of budgeting?
14)   Joint-product & By-product  
15)   Management by Exception
16)   Cost Accounting
17)   Sunk Cost
18)   What is Target Cost per unit?
19)   Briefly point out the pricing methods. What is cost plus pricing? Which are the most common methods of cost plus pricing?  
20)   Compare & Contrast : Cost Reduction & Cost Control
21)   Kaizen Costing
22)    Do you agree that Production Budget is the mother of all budgets? Why?
23)    Explain Normal Loss, Abnormal Loss and Abnormal gain with an example under process costing.
24)    Why should managers worry about Product Over Costing or Under Costing?
25)    What is the harm to a manufacturing organisation in (i) Under costing (ii) Over costing its products?
26)   Classify : Costs ( as many ways & categories you can)
27)   Explain the difference between Allocation, Absorption and Appointment of Overhead.
28)   Differentiate : Target Costing & Life Cycle Costing
29)   Differentiate : Cost Audit & Management Audit
30)   Activity-based Costing  
31)   cost audit in India
32)   Explain the following variances: (i) Material Price Variance (ii) Labour Mix Variance (iii) Labour Ideal Time Variance (iv) Capacity Variance (v) Material Yield Variance (vi) Expenditure Variance  
33)   What is Master Budget? List and briefly explain various Operating Budgets as well as Financial Budgets prepared by a manufacturing organisation.
34)   Write a detailed note on Zero Based Budgeting. State its advantages & disadvantages.
35)   Write a note on methods of absorption of overheads.
36)   Write a note on classification of overheads.
37)   Write a short note on characteristics and features of operating costing.
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Important Costing Theory Question
« on: September 27, 2011, 09:15:03 PM »

 
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