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Costing and accounts are my weak subjects

shrishti sinha (ipcc-student) (53 Points)

20 December 2010

Hey friends.. my costing and accounts are weak subjects. i hav attended its classes before. offlate i have started studing costing myself. i hav covered a handful of topics but hardly have any confidence in it. i really dnt knw how to plan it out.

i cant study these subjcts at a stretch for more then 2 hours.. kindly help and drop in a few suggestions. i am vry serious about my may attempt.

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15 Replies

(Guest)

Dear , first of all dont consider any thing in your syllabus as tough... just do concept wise studies and go through last years exams papers... you will end up scoring great marks in your exams.

Costing/fm looks like lengthy and tough but once you realy start understanding you will find it very easy.. u just need a good start.

Suppose in costing, just chose any one chapter you find it easy (suppose you chose OPERATING COSTING) , read about it in a nutshell and go through the format of the sums and solved examples . Now start solving problems on your own. Keep on practising and you will have a nice grip on the subject very soon.

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shrishti sinha (ipcc-student) (53 Points)
Replied 20 December 2010

hmm... thank u dear. i hav done those topics only one tym..so i guess it will take some tym to get a grip on them. :)

Tharun Raj (CMA) (1016 Points)
Replied 20 December 2010

See shrishti, you should feel the subject instead of trying to have grip.

There are two ways to learn the subject

1. Understanding the concept and doing as many problems as you can (just try and then check the answer). Instead of doing mistake in exams we should do mistakes now itself.

2. Do 100 problems and dont expect any problem which you have already done. In exam you may get 101st problem. Based on this problems you will learn how to solve.

In my reaserch 80% of students will follow 2nd method but its not correct.

If you didnt understand the above tell me i will explain you more clearly with examples.

But remember Costing and Accounts are very easy subjects and there are other, which are more difficult than this.

""""Sorry if i am wrong""""

3 Like

Sandeep Pandey (CA FINAL) (1306 Points)
Replied 20 December 2010

Originally posted by : vinnzz
	Dear , first of all dont consider any thing in your syllabus as tough... just do concept wise studies and go through last years exams papers... you will end up scoring great marks in your exams. Costing/fm looks like lengthy and tough but once you realy start understanding you will find it very easy.. u just need a good start. Suppose in costing, just chose any one chapter you find it easy (suppose you chose OPERATING COSTING) , read about it in a nutshell and go through the format of the sums and solved examples . Now start solving problems on your own. Keep on practising and you will have a nice grip on the subject very soon.

shrishti sinha (ipcc-student) (53 Points)
Replied 21 December 2010

thank u frnds for advising me.. :)

well.. tharun could you please explain till a little more.. ?

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Tharun Raj (CMA) (1016 Points)
Replied 21 December 2010

Well, I will start with Costing.

1.First of all you should know what costing is and why it is necessary (Always remember the best way is introspection, put questions and find answers, you wont forget)

2. You should know what the the various costs associated with a product and its classification.

3. Have good knowledge on cost sheet, like what is the difference between prime cost and works cost, cost of production and cost of goods sold, cost of goods sold and cost of sales.

4. Then take a problem on cost sheet. First read the problem throughly, Next understand what is required (It is the key to open the door), Next think for a min how to solve this, Now start answering, At last check with the answer provided, Write the mistakes you have done and the points which you have to remember in a note book, Keep that note book all the time with you........... and repeat the process.

I want to give you an example in this regard,

If some one asks you to tell about your self, you cant tell perfectly as to what they require

If the same person asks questions like

What is your name?

What are you currently doing?

What about your qualification?

What is your experience?

what are your achievements during your education?

etc., you can answer perfectly. That the difference between simply studying and learning.

1 Like

krishna kumar (CA Final) (407 Points)
Replied 21 December 2010

i was failed in costing in the first attempt. in the second attempt i got the highest market for costing compared to other subjects.

instead of covering more number of problems, learn the concept thoroughly. I am fortunate to go through PC Tulsian's cost accountancy book, which is good for conceptual understanding. without that book, i could not have cleared the costing paper with such ease.

shrishti sinha (ipcc-student) (53 Points)
Replied 21 December 2010

@ tharun-thank u tharun... u hav made me understand reallly well.... ! :) thanks a lot!

and good luck to u too.

@ krishna- which refrence book is better...? tulsian or paduka?

CA Ramnandhan Ravikumar (Executive - Audit) (199 Points)
Replied 22 December 2010

@ Shrishti - i go for padukas.... to begin with, it covers all the theory portions in a nutshell and it also clearly shows in which exams the same question has been asked. with regard to the application problems - everything is solved in a systematic manner and the note has been given for each and every step....

Good luck for ur exams shrishti :)

krishna kumar (CA Final) (407 Points)
Replied 22 December 2010

by default most of the student prefer padhuka. me too. i bought tulsian by accident rather than by choice. but by all means it is better than padhuka to make you perfect in costing.