A good costing system is an involvable aid to management.” Discuss

Assignment Solutions, Case study Answer sheets Project Report and Thesis contact [email protected] www.mbacasestudyanswers.com ARAVIND – 09901366442 – 09902787224 Financial and Cost Accounting Answer the following question. Q1. Which ratios will help in determining the long term solvency of a business and how? (10 marks) Q2. A good costing system is an involvable aid to management.” Discuss (10 marks) Q3. Define costing critically evaluate the arguments for the installation of costing system in an industry. (10 marks) Q4. State the advantages of costing. How it aids the management and what objections are raised against cost accounts (10 marks) Q5. Define costing. How does it differ from financial accounting? Explain its importance under present circumstances. (10 marks) Q6. “Cost accounting is a system of foresight like prenatal care, but financial accounting is just a postmortem examination”. Critically examine this statement (10marks) Q7. Cost accounting is better understood as a cost control and cost reduction exercise and not a more cost ascertainment process”. Discuss. (10 marks) Q8. What is the different between cost accounting and management accounting? (10 marks) Assignment Solutions, Case study Answer sheets Project Report and Thesis contact [email protected] www.mbacasestudyanswers.com ARAVIND – 09901366442 – 09902787224