practical knowledge in cost ac/ing?

Practical knowledge does not means you have to undergo training under a CWA, it means which can be applied practically i give you an example, immaterial concentrate on  passing material entries, treatment of abnormal loss, normal loss, level of stock , in Labour chapter -  labour turnover, making payroll, how to keep store ledger, concentrate of cost ledger chapter, Marginal and standard costing is important, which can be used and applied in practical life . Budget is important , But you see various obsolete methof of computing labour wages is not is not so important, ………….

Similarly in FM give emphasis on Cash flow, Debtors management,  treasury management, arbitrage,