Chartered Accountancy IPCC Cost Accounting and Financial Management Syllabus available in Pdf for free download. The latest syllabus for IPCC Cost Accounting and Financial Management have been issued by Chartered Accountancy based on which IPCC students will have to prepare for examinations by Chartered Accountancy, NCERT and KVS in IPCC. The latest Chartered Accountancy syllabus has been used to design NCERT book for IPCC Cost Accounting and Financial Management based on which exams for IPCC Cost Accounting and Financial Management will be conducted. Refer to MCQ Questions for IPCC Cost Accounting and Financial Management with answers and also download more latest study material for all subjects
Cost Accounting and Financial Management IPCC Chartered Accountancy Syllabus
IPCC Cost Accounting and Financial Management students should refer to the following curriculum for NCERT IPCC Cost Accounting and Financial Management. These Chartered Accountancy NCERT KVS Syllabus for IPCC Cost Accounting and Financial Management will be very useful for preparing for upcoming exams and help you to score good marks
Cost Accounting and Financial Management Chartered Accountancy Syllabus IPCC
Cost Accounting and Financial Management
(One paper – three hours - 100 marks)
Level of Knowledge: Working knowledge
Part I: Cost Accounting (50 marks)
Objectives:
(a) To understand the basic concepts and processes used to determine product costs;
(b) To be able to interpret cost accounting statements;
(c) To be able to analyse and evaluate information for cost ascertainment, planning, control and decision making; and
(d) To be able to solve simple cases.
Contents:
1. Introduction to Cost Accounting
(a) Objectives and scope of cost accounting
(b) Cost centres and cost units
(c) Cost classification for stock valuation, profit measurement, decision making and control
(d) Coding systems
(e) Elements of cost
(f) Cost behaviour pattern, separating the components of semi-variable costs
(g) Installation of a costing system
(h) Relationship of cost accounting, financial accounting, management accounting and financial management.
2. Cost Ascertainment
(a) Material Cost
(i) Procurement procedures - store procedures and documentation in respect of receipts and issue of stock, stock verification
(ii) Inventory control - techniques of fixing of minimum, maximum and reorder levels, economic order quantity, ABC classification; stocktaking and perpetual inventory
(iii) Inventory accounting
(iv) Consumption - identification with products of cost centres, basis for consumption entries in financial accounts, monitoring consumption.
(b) Employee Cost
(i) Attendance and payroll procedures, overview of statutory requirements, overtime, idle time and incentives
(ii) Labour turnover
(iii) Utilisation of labour, direct and indirect labour, charging of labour cost, identifying labour hours with work orders or batches or capital jobs
(iv) Efficiency rating procedures
(v) Remuneration systems and incentive schemes.
(c) Direct Expenses - Sub-contracting – control on material movements, identification with the main product or service.
(d) Overheads
(i) Functional analysis – factory, administration, selling, distribution, research and development
Behavioural analysis – fixed, variable, semi variable and step cost
(ii) Factory overheads – primary distribution and secondary distribution, criteria for choosing suitable basis for allotment, capacity cost adjustments, fixed absorption rates for absorbing overheads to products or services
(iii) Administration overheads – method of allocation to cost centres or products
(iv) Selling and distribution overheads – analysis and absorption of the expenses in products/customers, impact of marketing strategies, cost effectiveness of various methods of sales promotion.
3. Cost Book-keeping - Cost ledgers – non-integrated accounts, integrated accounts, reconciliation of cost and financial accounts.
4. Costing Systems
(a) Job Costing - Job cost cards and databases, collecting direct costs of each job, attributing overhead costs to jobs, applications of job costing.
(b) Batch Costing
(c) Contract Costing - Progress payments, retention money, escalation clause, contract accounts, accounting for material, accounting for plant used in a contract, contract profit and balance sheet entries.
(d) Process Costing - Double entry book keeping, process loss, abnormal gains and losses, equivalent units, inter-process profit, joint products and by products.
(e) Operating Costing System
5. Introduction to Marginal Costing
Marginal costing compared with absorption costing, contribution, breakeven analysis and profit volume graph.
6. Introduction to Standard Costing
Various types of standards, setting of standards, basic concepts of material and labour standards and variance analysis.
7. Budgets and Budgetary Control
The budget manual, preparation and monitoring procedures, budget variances, flexible budget, preparation of functional budget for operating and non-operating functions, cash budget, master budget, principal budget factors.
Part II: Financial Management (50 marks)
Objectives:
(a) To develop ability to analyse and interpret various tools of financial analysis and planning;
(b) To gain knowledge of management and financing of working capital;
(c) To understand concepts relating to financing and investment decisions; and
(d) To be able to solve simple cases.
Contents:
1. Scope and Objectives of Financial Management
(a) Meaning, importance and objectives
(b) Conflicts in profit versus value maximisation principle
(c) Role of Chief Financial Officer.
2. Time Value of Money
Compounding and discounting techniques – concepts of annuity and perpetuity.
3. Financial Analysis and Planning
(a) Ratio analysis for performance evaluation and financial health
(b) Application of ratio analysis in decision making
(c) Analysis of cash flow statement.
4. Financing Decisions
(a) Cost of Capital – weighted average cost of capital and marginal cost of capital
(b) Capital Structure decisions – capital structure patterns, designing optimum capital
structure, constraints, various capital structure theories
(c) Business risk and financial risk – operating and financial leverage, trading on equity.
5. Types of Financing
(a) Different sources of finance
(b) Project financing – intermediate and long term financing
(c) Negotiating term loans with banks and financial institutions and appraisal thereof
(d) Introduction to lease financing
(e) Venture capital finance.
6. Investment Decisions
(a) Purpose, objective, process
(b) Understanding different types of projects
(c) Techniques of decision making: non-discounted and discounted cash flow approaches - payback period method, accounting rate of return, net present value, internal rate of return, modified internal rate of return, discounted payback period and profitability index.
(d) Ranking of competing projects, ranking of projects with unequal lives.
7. Management of working capital
(a) Working capital policies
(b) Funds flow analysis
(c) Inventory management
(d) Receivables management
(e) Payables management
(f) Management of cash and marketable securities
(g) Financing of working capital.
More Study Material
The above Chartered Accountancy IPCC Cost Accounting and Financial Management Syllabus have been published by Chartered Accountancy for latest 2023 academic session. The syllabus published by Chartered Accountancy for Cost Accounting and Financial Management IPCC is being used by various Chartered Accountancy affiliated schools and almost all education boards in India. Teachers have always recommended students to refer to NCERT syllabus as the class tests and exams for IPCC Cost Accounting and Financial Management are always done as per the syllabus and guidelines issued. Students who are in IPCC and are studying Cost Accounting and Financial Management should strictly follow the syllabus issued to study for exams and revise the revise entire syllabus based on the latest syllabus available on Studiestoday.com. The IPCC Syllabus for Cost Accounting and Financial Management also includes details about all topics and the weightage of marks for each chapter and topic. We have also provided chapter wise study material which has been developed by teachers of StudiesToday.com after proper review of the latest syllabus and based on pattern of questions in upcoming exams for IPCC students. We have also designed the best Worksheets for IPCC Cost Accounting and Financial Management based on this syllabus.
Benefits of Chartered Accountancy IPCC Cost Accounting and Financial Management Syllabus
IPCC Cost Accounting and Financial Management NCERT syllabus has been designed by the teachers at CBSE after major research on all topics. NCERT Syllabus and all its topics for IPCC Cost Accounting and Financial Management have been created in a manner to provide thorough and adequate knowledge about each topic in an easy and simple to apprehend language. You will find that your teachers are teaching exactly as per the Syllabus for IPCC Cost Accounting and Financial Management which should be followed by you also. Almost all the Chartered Accountancy affiliated schools teaching IPCC Cost Accounting and Financial Management recommend their students to use latest syllabus and Question Papers for IPCC Cost Accounting and Financial Management from studiestoday.com as the latest 2023 Chartered Accountancy curriculum is available only here. IPCC Cost Accounting and Financial Management students should strictly follow the curriculum provided here while making their study plan as the exams will be conducted exactly as per the published syllabus
Chartered Accountancy IPCC Cost Accounting and Financial Management Syllabus Pdf Download
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Latest Chartered Accountancy IPCC Cost Accounting and Financial Management Syllabus
For the academic year 2023-24 the Chartered Accountancy board or referred to as the Central Board of Secondary Education has published the latest syllabus for all subjects. The Cost Accounting and Financial Management syllabus explains the chapters, topics and their weightage which will be relevant for the year. It is very important to study as per the syllabus only as this will help NCERT IPCC Cost Accounting and Financial Management Cost Accounting and Financial Management students to focus on what is relevant for the year. Chartered Accountancy keeps on changing the syllabus and pattern of Sample Papers for IPCC Cost Accounting and Financial Management so we have provided the latest syllabus here.
Chartered Accountancy IPCC Cost Accounting and Financial Management Syllabus Online
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IPCC Syllabus 2023 24 Cost Accounting and Financial Management free download
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Study material for IPCC Cost Accounting and Financial Management
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