Details
It is a course designed to give a student complete knowledge of Paper 5 at the CA FINAL level. Mind you this is the paper that creates a lot of problems for the students as it does not have a format or any formulas. It is business and we are going to learn all aspects of the business.
This Crash Course PLUS gives you all the knowledge required to excel in this paper. Go through the FAQ to know more.
Preface to the book.
“No matter how much you are qualified, common sense always helps”
Business is changing and so is our subject. The greatest companies of all times like General Motors, Lehman Brothers, Reader’s Digest Association, etc today are no longer dominant. Most local retailers are closing down due to e-commerce, technology has had a far more negative impact than positive. Self-driven cars will lead to massive unemployment in India and create new jobs for those who are experts in Artificial Intelligence. Robots will replace servants one day at your house. Make yourself that capable that you will survive all changes of tomorrow. Go to Europe and you will find accountants now don’t do the jobs they were doing 10 years ago. Accounting is done automatically. Companies like Smack are doing automation at a rapid pace. Companies like EVER LAW are making lawyers jobless by proving automated replies to legal problems. Cryptocurrency is about to gain momentum in the future. Luxuries of today will be necessities of tomorrow. The invention is the only thing that will keep you alive. Never thought the internet will be a business one day, never thought Youtube could make money, never thought Facebook could make billionaires…. But these are the business of today. Our coaching industry underwent so many changes. From face-to-face classes, to pen drives and virtual, we have seen all. I am still from the traditional school of thought where I think that “when a student comes face to face, he really enjoys the subject and is not only trying to just pass for sake of becoming a CA”.
Marginal costing, standard costing, and Performance Evaluation occupy a major chunk of this syllabus and almost all the chapters get included under these headings. This is one of the subjects that I have taught for the past 19 years and can still say there is so much to learn. New concepts keep arriving and it is very interesting to learn these new concepts especially as they relate to the manufacturing sector as the growth of any country is determined by its manufacturing sector. Japanese and German concepts of manufacturing like TQM, JIT, Target costing, ABC, Value chain analysis, ERP, Benchmarking, Beyond Budgeting, etc are being implemented by Multinationals across the world. Unfortunately, Costing in India is still at a very early stage and it might take many years before these techniques get implemented like they are in developed countries.
“A student makes his own destiny and no matter how much a faculty does, it is only students’ efforts that give fruit.”
to be continued
| INDEX OF PRACTICAL BOOK | ||
| Sr. No. | TOPIC & ORDER OF STUDY | ICAI Module |
| 1 | Marginal & Absorption Costing | 6 |
| 2 | CVP Analysis / Decision Making | 6 |
| 3 | LPP | 6 |
| 4 | Relevant Costing | 6 |
| 5 | Theory of Constraints | 2 |
| 6 | Internal Pricing | 9 |
| 7 | External Pricing | 7 |
| 8 | Learning / Time / Experience Curve | Everywhere |
| 9 | Life cycle costing | 4 |
| 10 | Pareto Analysis | 4 |
| 11 | Standard Costing | 12 |
| 12 | Strategic analysis of income statement | 10 |
| 13 | Activity-Based Costing | 10 |
| 14 | Target Costing | 4 |
| 15 | Customer Level Analysis | 10 |
| 16 | Direct Profitability | 10 |
| 17 | TQM | 2 |
| 18 | TPM | 3 |
| 19 | JIT | 3 |
| 20 | Balance Scorecard (Kaplan) | 8 |
| 21 | Performance pyramid (Lynch & Cross) | 8 |
| 22 | Economic Value Added (Stern Stewart & Co) | 8 |
| 23 | Budgetary Control | 11 |
| 24 | Costing of service sector | 6 |
| 25 | Notes | |
| INDEX OF THEORY BOOK | ||
| 1 | Introduction to Strategic Cost management | 1 |
| 2 | Modern business environment | 2 |
| 3 | Lean system & innovation | 3 |
| 4 | Cost Management Techniques | 4 |
| 5 | Costing of Specific Sector | 5 |
| 6 | Decision Making | 6 |
| 7 | Pricing Decisions | 7 |
| 8 | Performance Measurement and evaluation | 8 |
| 9 | Transfer pricing | 9 |
| 10 | Strategic analysis of income statement | 10 |
| 11 | Budgetary Control | 11 |
| 12 | Standard Costing | 12 |
| INDEX OF CASE STUDIES BOOK | ||
| 1 | PORTER’S VALUE CHAIN vs VALUE SHOP | 1 |
| 2 | VALUE CHAIN ANALYSIS | 1 |
| 3 | SUPPLY CHAIN MANAGEMENT | 2 |
| 4 | KAIZEN COSTING. | 3 |
| 5 | KAIZEN COSTING. | 3 |
| 6 | SIX SIGMA | 3 |
| 7 | BUSINESS PROCESS RE-ENGINEERING (BPR) | 3 |
| 8 | TPM | 3 |
| 9 | ENVIRONMENTAL MANAGEMENT ACCOUNTING. | 4 |
| 10 | ENVIRONMENTAL MANAGEMENT ACCOUNTING. | 4 |
| 11 | LIFE CYCLE COSTING’ | 4 |
| 12 | VALUE ANALYSIS & FUNCTIONAL ANALYSIS | 4 |
| 13 | ETHICAL BUSINESS | 6 |
| 14 | THE BUILDING BLOCK MODEL | 8 |
| 15 | TRIPLE BOTTOM LINE | 8 |
| 16 | TRIPLE BOTTOM LINE | 8 |
| 17 | BALANCE SCORECARD | 8 |
| 18 | PERFORMANCE PRISM | 8 |
| 19 | BUDGETARY CONTROL. | 11 |
| 20 | FEEDFORWARD & FEEDBACK CONTROL | 11 |
| 21 | PARTICIPATIVE BUDGET ‘SPM’ | 11 |
| 22 | VALUE CHAIN ANALYSIS, STANDARD COSTING BALANCED SCORECARD & KPI. | 1, 8 & 12 |
| 23 | PORTER’S FIVE FORCES & DIVISIONAL TRANSFER PRICING | 1 & 9 |
| 24 | BUSINESS EXCELLENCE MODEL | 2 |
| 25 | SIX SIGMA & COST OF QUALITY | 2 & 3 |
| 26 | PERFORMANCE MEASUREMENT IN NOT FOR PROFIT SECTOR (Value for Money) | 8 |
| 27 | COMPETITIVE ADVANTAGE AND CONTROL SYSTEM | 1 & 11 |
| 28 | BEYOND BUDGETING | 11 |
| 29 | CONTROL THROUGH STANDARD COSTING SYSTEM | 12 |
| 30 | COMPETITIVE ADVANTAGE | 1 & 7 |
| 31 | PORTERS 5 FORCES MODEL | 1 |
| 32 | TARGET COSTING | 4 |
| 33 | 5 S | 3 |
| 34 | BUSINESS PROCESS RE-ENGINEERING | 3 |
| 35 | BUDGETARY CONTROL | 11 |
| 36 | BOTTOM-UP OR TOP-DOWN | 11 |
| 37 | Benchmarking | 8 |
| 38 | Building Block | 8 |
Extra Material in softcopy
Chapter 13 – Integrated Reporting Issued by ICAI in Jan 2021 (notes in softcopy will be given)
RTP OF May 2020, Nov 2020, and May 2021
Past Papers of May 2019, Nov 2019, and Nov 2020
12 Extra Case Studies
- ONE Practical Book (excluding RTP and Past papers)
- ONE THEORY BOOK INCLUDING CASE STUDIES
- Pen Drive (if opted for Pen drive) OR Google Drive (26 GB)
NOTE: Courier is done with the help of courier agencies. It usually takes 2 days for us to give the package to the courier agency and further time to deliver the package to the students depends on location. AJ NeXt does not guarantee the time duration when the courier will reach the students. It can provide the tracking id within 3 days of the order.
Even if you opt for Pen Drive, the following lectures have to be downloaded from the link that will be provided.
Chapter 13 – Integrated Reporting Issued by ICAI in Jan 2021 (notes in softcopy will be given)
RTP OF MAY 2020, NOV 2020 and May 2021
Past Papers of May 2019, Nov 2019 and Nov 2020
12 Extra Case Studies
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