Hi,
I am appearing for ICWAI-Intermediate examinations this year (June'11) and I am having a tough time preparing statements and cost sheets for the Cost and Management Accounting paper. The math is easy, but to fit everything in the format is really difficult. For example - while preparing a 'statement of equivalent production' (link to format), we have to squeeze multiple columns for Material, Labour, Overheads and their corresponding sub-columns for % of completion and units in one sheet which looks extremely cluttered and many times it has lead to calculation-errors.
So my question is, if we use abbreviations like L&OH, or Op.Stock, Cl.Stock and so on to fit all columns without clutter, would we be penalized and marks deducted for not using full-names/headings. I realize it is a trivial thing to ask, but since we have to solve all questions in appropriate format our solutions will not be clear or we'll have to redo a lot of work if we are not allowed to use abbreviations and short-hand notations freely in the examinations.
I will appreciate if experts and qualified CA/CWA/CS reply in detail.
Thank you for your help in advance.
Harsh
CAclubindia
