Syllabus of CAF3: COST AND MANAGEMENT ACCOUNTING

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Syllabus of CAF3 Cost and Management Accounting

Syllabus GRID

Here is the grid of Syllabus of CAF Cost and Management Accounting.

GridWeightage
Costs Associated with Production35-45
Cost Flow20-30
Cost Management Planning and Decisions30-40
Total100

Course Outline

The course outline gives an overview of Syllabus of CAF Cost and Management Accounting . The detailed Syllabus of CAF Cost and Management Accounting for Spring 2022 attempt is given below.

Costs Associated with Production

Production Cost

  • Identify elements of cost of product, job or services.
  • Account for elements of cost to accumulate the cost of product, job or services using absorption, marginal and activity-based costing.
  • Account for over or under-absorbed overheads.
  • Apply inventory valuation techniques for finished goods inventory in the absorption costing system.

Raw Material

  • Apply inventory valuation and measurement techniques for raw material inventory.

Manufacturing Overhead

  • Analyze costs of production and service departments for allocation and apportionment of production costs.
  • Calculate predetermined factory overheads rate.

Labour

  • Discuss productivity and efficiency measurement in relation to controlling labor costs.
  • Explain the concept of remuneration systems, incentive wage plans and types therein.
  • Compute the impact of a learning curve on the productivity of employees.

Cost Flow

Process Costing

  • Analyze and account for the flow of cost in the process costing system.
  • Analyze and account for normal and abnormal loss, abnormal gain and cost of rework in process costing.
  • Apply inventory valuation techniques on work in process and finished goods in process costing system.
  • Analyze and account for the cost of joint and by-product.

Target Costing

  • Apply the target costing tools to given scenarios.

Variance Analysis

  • Compute standard rates of material, labour and factory overhead.
  • Analyze different variances.

Cost Management Planning and Decisions

Cost-Volume-Profit

  • Analyze cost-volume-profit to support decision making

Special Orders

  • Analyze incremental cost-benefit and contribution margin for a special order.

Make or Buy Decisions

  • Analyze incremental cost-benefit and contribution margin to take product mix, make or buy decision.

Further Processing Decisions

  • Analyze incremental cost-benefit for further processing decision.

Shut Down and Product Discontinuation Decisions

  • Analyze cost-benefit to take shut down and product continuation or discontinuation decisions.

Economic Order Quantity (EOQ)

  • Calculate EOQ

Safety Stock and Re-order level

  • Calculate safety stock and re-order levels.

Syllabus of CAF3 Cost and Management Accounting:

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