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4TH SEMESTER BCOM HNRS
COST ACCOUNTING
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Definition
Cost accounting is a branch of accounting that deals with the measurement, analysis, and reporting of costs associated with the production and sale of goods or services. Its main objective is to provide information to management for decision-making, cost control, and performance evaluation. Cost accounting involves the collection, classification, allocation, and analysis of costs to determine the actual cost of producing a product or service. This information is then used to make informed decisions about pricing, production, and other business operations.
MARKING SCHEME 2023
COST ACCOUNTING
MOST IMPORTANT PRACTICE & THEORY IMPORTANT TOPICS 2023
MATERIAL 1 QUESTIONS 9 MARKS ( COMPULSORY)
OVERHEAD ( 1 QUESTION)
- MACHINE HOUR RATE ( COMPLETE 15 MARKS )
OR
- UNDER/OVER RECOVERY OF OVERHEAD 9 MARKS + THEORY QUESTIONS
COST SHEET ( NEW FORMAT) 15 MARKS
RECONCILIATION+COST SHEET ( 15 MARKS )
PROCESS COSTING ( 15 MARKS )
CONTRACT COSTING 15 / 10 MARKS + THEORY
THEORY IMPORTANT QUESTIONS PDF
1. Explain the concept of cost behavior and its relevance in cost accounting.
2. Discuss the different methods of cost allocation and their advantages and disadvantages.
3. What is the difference between direct and indirect costs? Give examples of each.
4. Explain the concept of cost-volume-profit analysis and its importance in decision-making.
5. Discuss the different types of cost systems and their suitability for different types of businesses.
6. Explain the concept of standard costing and its role in performance evaluation and control.
7. Discuss the importance of budgeting in cost accounting and the different types of budgets.
8. Explain the concept of activity-based costing and its advantages over traditional costing methods.
QUESTION WITH ANSWER PDF DRIVE 👇
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