Problems on Cost Accounting

Pages: 227 (70232 words) Published: December 3, 2010
Study Material


Cost Accounting and Financial Management
Part 1 : Cost Accounting
Vol. I
The Institute of Chartered Accountants of India
(Set up by an Act of Parliament) New Delhi



Part – 1 : Cost Accounting


This study material has been prepared by the faculty of the Board of Studies. The objective of the study material is to provide teaching material to the students to enable them to obtain knowledge and skills in the subject. Students should also supplement their study by reference to the recommended text books. In case students need any clarifications or have any suggestions to make for further improvement of the material contained herein, they may write to the Director of Studies. All care has been taken to provide interpretations and discussions in a manner useful for the students. However, the study material has not been specifically discussed by the Council of the Institute or any of its Committees and the views expressed herein may not be taken to necessarily represent the views of the Council or any of its Committees. Permission of the Institute is essential for reproduction of any portion of this material.


All rights reserved. No part of this book may be reproduced, stored in retrieval system, or transmitted, in any form, or by any means, Electronic, Mechanical, photocopying, recording, or otherwise, without prior permission in writing from the publisher. Website E-mail ISBN No. Published by : : : : 978-81-8441-132-4 The Publication Department on behalf of CA. R. Devarajan, Additional Director of Studies (SG), The Institute of Chartered Accountants of India, A-94/4, Sector –58, Noida-201 301, India. Typeset and designed at Board of Studies. Printed by : Sahitya Bhawan Publications, Hospital Road, Agra 282 003. January, 2010 / 15,000 Copies

The Institute of Chartered Accountants of India, the second largest professional accountancy body in the world, occupies a pivotal position in the Indian economy. As compared to other leading professional accountancy bodies in the world, the Institute enjoys a unique position since it is endowed with the authority not only to conduct examinations and grant license to qualified members but it also imparts theoretical education through diverse methods such as provision of study material, conducting revisionary classes, etc. In fact, the Institute is a pioneer in imparting the education to students through distance education mode since its inception in 1949. Keeping in view the fact that the students of chartered accountancy course are dispersed geographically in the entire world, it is imminent that the Institute must make all efforts to retain its primacy in this particular area. While all out efforts are being made to leverage the technology for the benefit of students through e-learning, Shiksha Portal, etc. by the Institute, it must continue to serve students through comprehensive study material with the aim to inculcate the self-learning experience. In this direction, I am happy to note that the study material has been thoroughly revised and made user friendly by improving presentation, emphasis on significant issues, illustrations explaining the concept step by step, etc. The inclusion of practical case studies intends to make it more application-oriented and aims to enhance the knowledge of students in the practical environment. A separate Practice Manual shall also enable the students to practice the subject on their own. It is hoped that the revised study material would prove to be very useful for students and their reliance on other external sources shall go down considerably. I am confident that the provision of such education literature shall enable our potential chartered...
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