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It is an objective type examination and consists of 200 multiple choice questions. CPT covers four basic subjects divided into two sections viz. 1.Accounting (60 Marks) + Mercantile Laws (40 Marks) 2.Economics (50 Marks) + Quantitative Aptitude (50 Marks) Every incorrect answer on the CPT exam carries a 0.25 negative mark.
It consisted of four subject areas (sections) which were tested in five sittings: Auditing (3.5 hours); Business Law (3.5 hours); Accounting Theory (3.5 hours); and Accounting Practice (Part I & Part II; 4.5 hours each). Although Accounting Practice Parts I and II were given in separate sittings, the two scores were combined for grading purposes.
An important part of standard cost accounting is a variance analysis, which breaks down the variation between actual cost and standard costs into various components (volume variation, material cost variation, labor cost variation, etc.) so managers can understand why costs were different from what was planned and take appropriate action to ...
Paper 4: Cost and Management Accounting Paper 5: Auditing and Ethics Paper 6: Financial Management and Strategic Management Section A: Financial Management (50 marks) Section B: Strategic Management (50 marks) Marks needed to Qualify Charted Accountant (CA) There is a 30 marks MCQ for all Papers with no Negative marking.
The first part of this project will try to rewrite the classification of cost section using the narrative material in The Economics of Business Costs, Walter B. McFarland, The Accounting Review, Vol. 15, No. 2 (Jun., 1940), pp. 196-204, American Accounting Association. The author and others wrote extensively on cost accounting topics.
An important part of standard cost accounting is a variance analysis, which breaks down the variation between actual cost and standard costs into various components (volume variation, material cost variation, labor cost variation, etc.) so managers can understand why costs were different from what was planned and take appropriate action to ...
Cost Accounting Standards (popularly known as CAS) are a set of 19 standards and rules promulgated by the United States Government for use in determining costs on negotiated procurements. CAS differs from the Federal Acquisition Regulation (FAR) in that FAR applies to substantially all contractors, whereas CAS applied primarily to the larger ones.
Traditional standard costing (TSC), used in cost accounting, dates back to the 1920s and is a central method in management accounting practiced today because it is used for financial statement reporting for the valuation of income statement and balance sheet line items such as cost of goods sold (COGS) and inventory valuation.