Subject: Combined Recruitment Test for recruitment to:
(i) 16 vacancies for the post of Assistant Director (Cost), Office of Chief Adviser
Cost, Department of Expenditure, Ministry of Finance [Advt. No. 01/2022
dated 08.01.2022, Vacancy No. 22010102408]. (SC-02, ST-02, OBC-03, EWS-01, UR-08) (PwBD-01).
(ii) 22 vacancies for the post of Assistant Director (Cost), Office of Chief Adviser
Cost, Department of Expenditure, Ministry of Finance [Advt. No. 09/2022
dated 14.05.2022, Vacancy No. 22050904414]. (SC-03, ST-02, OBC-06, EWS-03, UR-08) (PwBD-01).
TIME TABLE &INSTRUCTIONS TO CANDIDATES
PLEASE CAREFULLY READ THE FOLLOWING INSTRUCTIONS, VIOLATION OF ANY INSTRUCTION WILL RENDER THE CANDIDATE LIABLE TO SUCH ACTION
AS THE COMMISSION MAY DEEM FIT TO TAKE.{THE CANDIDATES ARE ADVISED TO BRING THIS COPY OF INSTRUCTIONS TO THE TEST (RECRUITMENT TEST) HALL FOR REFERENCE }
TIME TABLE
DATE & DAY & INDIAN STANDARD TIME - 28th August, 2022 09.30 A.M to 11.30 A.M. (SUNDAY)(FN)
SUBJECT & SUBJECT CODE - COST AND
MANAGEMENT ACCOUNTING (03)
NOTES:
CANDIDATES’ REPORTING TIME AT TEST CENTER IS 1 HOUR BEFORE THE
SCHEDULED COMMENCEMENT OF THE TEST.
ENTRY INTO THE TEST VENUE WILL BE CLOSED 10 MINUTES BEFORE THE
SCHEDULED COMMENCEMENT OF THE RECRUITMENT TEST I.E. 09.20 A.M.
CANDIDATES MUST BRING HARD COPY(PRINT OUT) OF HIS/HER E-ADMIT
CARD TO THE TEST HALL TO SECURE ADMISSION.
I. Scheme of the Test:
(a) The test will be of two hours duration.
(b) All questions will carry equal marks.
(c) The test will be objective type questions with multiple choices of answer.
(d) The medium of the test will be English only.
(e) There will be penalty for wrong answers. Every wrong answer will carry a
deduction of one-third of the marks assigned to that question. If no answer is marked
for a question, there will be no penalty for that question.
(f) The Test will carry a maximum of 300 marks.
Syllabus of the Test:
1) Cost Concepts and Classifications: Cost Objects, Cost Centres and Cost
Unit; Collection, classification, allocation and apportionment of cost - Material
Cost, Employee Cost, Direct Expenses, Overheads etc.
2) Generally Accepted Cost Accounting Principles (GACAP), Cost Accounting
Standards, Cost Audit, Companies (Cost Record & Audit) Rules, 2014 as
amended from time to time; Cost Auditing and Assurance Standards.
3) Methods of Costing: Single Output Costing, Job Costing, Batch Costing,
Contract Costing, Process Costing, Service Costing.
4) Marginal v. Absorption Costing, Cost-Volume-Profit analysis, Decision
making involving alternative choices.
5) Pricing decisions and Strategies-New Product Pricing, Monopoly Pricing v.
Competitive Pricing, Pricing of Service Sector
6) Cost Control and Cost Reduction; Cost Control Techniques- Standard
Costing & Variance Analysis; Budget and Budgetary Control.
7) Transfer Pricing- Methods (Cost Based, Market Price Based, Negotiated
Pricing), Criteria for setting Transfer Prices, Transfer Price in different situations.
8) Emerging concepts in Cost and Management Accounting: Life Cycle costing,
Activity Based costing, Learning Curve and its application, Socio-economic costing, Target costing, Total Quality Management, Environmental Management Accounting, Six Sigma etc.
9) Generally Accepted Accounting Principles (GAAPs), Accounting Standards and
Ind AS.
10)Financial Statements and Analysis: Preparation of Corporate Financial Statements,
Ratio Analysis, Cash Flow Analysis.
11)Appraisal of Projects: Capital Budgeting, Cost of Capital, Leverage Analysis;
Methods of Project Appraisal-Payback Period, Net Present Value (NPV), Financial Internal Rate of Return (FIRR), Economic Internal Rate of Return (EIRR), Benefit Cost Ratio.
12)Project Management: Project Planning, Project Life Cycle, Gantt Charts, PERT
and CPM.
13)Government Accounting: General Principles and Comparison with
Commercial Accounting; Government Accounting Standards issued by Government Accounting Standards Advisory Board, Role of Comptroller and
Auditor General of India and Public Accounts Committee.
14)Goods and Services Tax Act & Rules : Chargeability of GST, Scope of Supply
(Section 7 of CGST Act, 2017 read with Schedule I, II and III),
Classification of Goods and Services under GST, Time, Value and Place of Supply of Goods and Services, Input Tax Credit (Eligibility, Blocked Credits, Method of Reversal of Credits, Recovery of Input Tax Credit), Exports, Imports and Refunds under GST, Anti-profiteering, Audit under GST.
15)Customs Law : Classification under Customs, Types of Duties (Basic
customs duty, IGST replacement of CVD and Special CVD, Protective duties, Safeguard duty, Countervailing duty on subsidized articles, Anti-dumping duty), Valuation under Customs of Imported Goods and Export Goods, Deemed export, Duty drawback.
16)Companies Act, 2013 with special emphasis on provisions relating to
Declaration and Payment of Dividend (Chapter VIII and Schedule II) Accounts of Companies (Chapter IX, Schedule III and Schedule VII), Audit and Auditors (Chapter X), Government Companies (Chapter XXIII).
17)Corporate Governance: Overview, Issues and Concepts, Corporate
Governance, Practices/Codes in India, Corporate Governance in state-
owned business – MOU System.
III. Weightage:
Combined RT and Interview may carry a 75:25 Weightage for those candidates
short-listed through the Combined RT and those who qualify in the interview.
IMPORTANT NOTES:
A.The Candidate must take the Test only at the Test Venue indicated in the e-
Admit Card only. If the Candidate appears at any other Test Venue, his
candidature is liable to be cancelled.
B. As for candidates shortlisted in the Combined RT, the scrutiny would be
done on the basis of documents uploaded by them at the time of filling of Online
Application (ORA) for the subject post. However, candidates may be asked
through e-mail to furnish the deficient documents, if required. Their documents
will be scrutinized and those candidates who fulfill all the eligibility conditions of
the posts shall be called for interview.
C. The Candidates are directed to undertake the Recruitment Test at their own risk i.e. after verifying that they fulfill the qualifications as prescribed in the
Advertisement, and their admission to the Test is purely ‘provisional’.
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