Tips for CA Inter Group 1 – Cost and Management Accounting Paper 3

Home
Blog
Tips for CA Inter Group 1 – Cost and Management Accounting Paper 3

Tips for CA Inter Group 1 – Cost and Management Accounting Paper 3

CA / By PARUL | 2021-11-26

Brief About CA Intermediate Group 1:

There is a lot of confusion regarding the right procedure of clearing the CA intermediate examination as the pattern has changed. The syllabus of CA Intermediate is divided into a total of 8 subjects and 2 groups. In this thread, we will discuss the CA inter cost and management accounting syllabus and on the tips of how to solve the paper.

About CA inter cost and management accounting syllabus:

No doubt about the fact that in the entire CA syllabus, CA inter cost and management accounting syllabus Is considered to be one of the most interesting ones and is the heart of CA curriculum. However, the majority of this subject consists of practical questions and the rest are theoretical.

Topics covered in the CA inter cost and management accounting classes:

1. Overview of the subject
2. Method of Costing – That includes Batch Costing, Contract Costing, Operation costing, Costing of Service sectors, Single unit cost, Job Costing
3. Ascertainment of Cost and Cost Accounting System – That includes ABC costing, recording and accounting of costs, Material Cost, Employee Cost, Direct Expenses, Overheads

Here are a few tips you should keep in mind when preparing for CA inter cost and management accounting subject:

One should always begin with the basic concepts by reading the theory so well. It is important to understand the formulas and nor by heart them. Application is way important.
In the ascertainment of cost, one should give priority to Material, Overhead, Labour that is because it is very important to understand every chapter. ABC costing is overall simple and very scoring.
Accounting methods are essential at the same time process and contract costing are important equally.
Cost control and analysis cover 40% of the paper. One of the most important chapters is Budgetary. Standard costing is entirely based on formulas, so once you get a command over it then you can score full in it.
Reconciliations of financial accounts along with the cost accounts should be done properly.