Important Suggestions for PCC and IPCC Students for COST & FM

Costing & Financial Management

IMPORTANT : PLEASE DO NOT LEAVE ANY CHAPTER IN OPTION AS INSTITUTE HAS MADE ALL THE QUESTIONS COMPULSORY FROM NOVEMBER 2009 FOR ALL EXAMS

Books To Be referred:

1. Study Material

2. Padhuka

3. Personal Notes which are to be prepared for each chapter which will help a lot during exam days.

4. Coaching notes.

Guidelines for preparing Cost FM paper.

1. First Try to complete Financial Management par first in paper as well as in Preparation

2. Try to complete paper only about 80 to 90 marks. It is because many times it may happen that in hurry of completing the paper some questions are answered incompletely or incorrectly which will cost whole question’s marks. So be perfect in all the answers you give.And also even 70 marks will also be enough to clear this subject. I wrote only of 65 to 70 marks and got 51.

3. so don’t be confused in marks attempted and result.

4. In financial management part you will find some easy questions like leverage, cash budget, fund flow statement etc. which you can answer in less time than in other difficult questions of costing and FM. So try to complete these questions first.

5. In costing tey to answer easy questions like EOQ, cost sheet, material, labour overhead etc. and save time for hard questions like Pocess, contract etc.

6. In FM try to do Capital budgeting after completing the easy part as mentioned in point 4 above.

7. As far as reference books are concerned you should go for Padhuka which is best for Theory as well as Practical questions for Costing as well as for FM also.

8. Go through module i.e Study Material issued by the institute as because many times Questions are asked copy from Study Material also. Further you should not be confused between understanding the question i.e you should interpret the question correctly

e.g If que. is asked for giving a result or opinion say in cash of Capital Budgeting whether to purchase or not in a given circumstance a particular asset IN THIS CASE ANSWER IS INCOMPLETE WITHOUT YOUR OPINON AND YOU WILL NOT GET FULL MARKS AND EVEN YOU CAN BE GIVEN NO MARKS IF THERE IS STRICT CHECKING.  Same applies to all the questions where exact demand of the question should be identified by the student. Then only you can give correct answer.

Disclaimer

It is to be noted that above mentioned are only suggestions from my own experience. It does not mean to follow them compulsoryily. Follow only if you find it useful.