COST AND MANAGEMENT ACCOUNTING (CMA)
Financial Accounting is unable to provide information about future as it is based on historical accounting information. Due to this limitation of Financial Accounting a specialized branch of accounting emerged known as Cost and Management Accounting. Cost and Management accounting deals with cost, elements of cost, factors affecting cost and helps in estimating future by presenting relation between volume and cost. Cost and Management Accounting is also very important as well as useful for best utilization of resources. It is an indispensable branch of corporate management, as the information collected and then presented to management based on cost and management accounting. This helps management to solve specific problems and it also guides management in decision making.
Due to these reason ICSI has designed the syllabus of Cost and Management Accounting so that student so of CS Executive are able to understand concepts of Cost and Management accounting and are able to apply the same. Exam of Cost and Management accounting is distributed in 12 chapters. Starting with basics of Cost concepts like Material, Labour, Overheads and then dealing with marginal and standard costing, Budgets, Ratios and Cash Flow statement.
As exam of Cost and management accounting will be an objective based CS Executive Students are advised to practice mcq questions in time limit so that they can attempt their exam and pass with flying colors.
COST AND MANAGEMENT ACCOUNTING (CMA) Chapters