ICWA FINAL COST AND MANAGEMENT

Study Note 1 : Cost Audit 

• Cost Audit – Basics
• Origin of Cost Audit
• Genesis of Cost Audit in India
• Relevance of Cost Audit
• Objectives of Cost Audit
• Cost Records and Cost Audit – as per Companies Act, 2013
• Companies (Cost Records and Audit) Rules, 2014

Study Note 2 : Companies (Cost Records and Audit) Rules, 2014

• Guidance Note on Cost Accounting Standards
• Companies (Cost Records & Audit) Rules, 2014
• Guidance Note on Cost Accounting Standard on Cost of Production for
• Captive Consumption (CAS-4)
• Guidance Note on Cost Accounting Standard on Material Cost (CAS-6)
• Guidance Note on Cost Accounting Standard on Employee Cost (CAS-7)
• Guidance Note on Cost Accounting Standard on Cost of Utilities (CAS-8)
• Guidance Note on Cost Accounting Standard on Packing Material Cost (CAS-9)
• Guidance Note on Cost Accounting Standard on Administrative Overheads (CAS-11)

Study Note 3 : GACAP & Cost Accounting Standards 

• Generally Accepted Cost Accounting Principles (GACAP)
• Cost Accounting Standards
• Glossary of Terms used in Cost Accounting Standards

Study Note 4 : Cost Building Process 

• Introduction and Objectives
• Essentials of Cost Building Process
• The System – Basic Parameters
• Integrated Accounting
• Classification of Costs

Study Note 5 : Cost Auditing Standards

• Cost Audit

Study Note 6 : Guidance on Peroframance Appraisal

• StPreface
• Performance Analysis
• Suggested Mechanism for Performance Analysis
• Steps Approach Suggested for Report on Performance Appraisal
• Indicative Contents of the Report on Performance Appraisal
• Capacity Utilisation Analysis
• Productivity and Efficiency Analysis
• Utilities and Energy Efficiency Analysis
• Key Costs And Contribution Analysis
• Product/Service Profitability Analysis
• Market / Customer Profitability
• Working Capital and Inventory Management Analysis
• Manpower Analysis
• Impact of IFRS on the Cost Structure, Cash Flows and Profitability
• Other Areas suggested to be covered in the Report on Performance Appraisal
• Management Accounting tool

study Note 7 : Exposure Draft Training & Guidance Manual for Cost Audit Report & 

• Compliance Report in XBRL Format (as per TAXONOMY)
• Introduction
• Preface
• Steps for Filing Cost Audit Report and Compliance Report in XBRL format
• on MCA Portal

Study Note 8 : Basics of Internal Control and Internal Audit 

• Internal Control – Concept
• Scope of Internal Control
• Structure of Internal Control
• Limitations of Internal Control
• Evaluation of Internal Control
• Internal Control Questionnaire
• Internal Control and Internal Auditor
• Origin of Internal Audit
• Internal Check and Internal Audit
• Internal Audit and its Scope
• Statutory Auditors and Internal Auditors
• Assessment of Adequacy of Internal Audit Function
• Auditing Government Agencies
• Standards on Internal Audits (SIA)
• Internal Audit Programme – Industires Specific

Study Note 9 : Basics of Operational Audit 

• Operational Audit
• Budgetary Control System
• Capacity Utilisation
• Inventory Control
• Management Information System
• Nature and Scope of Management Audit
• Audit of Management Process and Functions
• Specimen Questions with Answers

Study Note 10 : Management Audit in Different Functions 

• Corporate Culture and Objectives
• Corporate Services Audit
• Corporate Development Audit
• Evaluation of Personnel Development
• Consumer Services Audit
• Audit of Social Responsibility of Management ? Environmental Pollution Control
• Audit Checks of Different Functions
• Corporate Divisions/Departments/Functions
• Corporate Governance and Audit Committee
• Audit Committees and Corporate Governance
• Confederation of Indian Industries (CII) Code for Desirable Corporate Governance