Friday, December 16, 2016

cost-plus pricing, Briefly describe the methods of determining sales prices under cost-plus pricing?

1. (a) What is cost-plus pricing? Briefly describe the methods of determining sales prices under cost-plus pricing?    4
(b) Differentiate the mark-up and margin with an example.        2

A
Cost-plus pricing:
Cost is the most important influences on price of a product or services. Cost-plus pricing means the determinations of sales price by calculating the cost of product or services and then adding a percentage mark-up for profit.
There are two methods of cost-plus pricing and these are as follows:
I. Full cost-plus pricing: where pricing is determined based on full cost of the product or service and adding a percentage mark-up. The full cost may be a fully absorbed production cost only, or it may include the portion of absorbed selling and distribution overheads.

ii. Marginal cost-plus pricing: involves adding a profit mark-up to the marginal or variable cost of production or sales.

Monday, December 12, 2016

Halo Enterprize Solution Cost Accounting Management Information

Question:

Halo Enterprises recently experienced a fire, forcing the company to use incomplete information to analyze operations. Consider the following data and assume that all materials purchased during the period were used in production:

Direct materials:
Standard price per pound: $9
Actual price per pound: $8
Price variance: $20,000F
Total of direct-material variances: $2,000F

Direct labor:
Actual hours worked: 40,000
Actual rate per hour: $15
Efficiency variance: $28,000F
Total of direct-labor variances: $12,000U

Halo completed 12,000 units.
 
Required:
Determine the following: (1) actual materials used, (2) direct-material quantity variance, (3) direct-labor rate variance, (4) standard labor rate per hour, and (5) standard labor time per finished unit.

Another version of the question as found in the Management Information Question of Institute of Chartered Accountants of Bangladesh May-June 2016 Knowledge Level Question

Kamal Manufacturing recently experienced a fire, forcing the company to use incomplete information to analyze operations. Consider the following data and assume that all materials purchased during the period were used in production:
 
Direct materials:
Standard price per pound: Tk.9
Actual price per pound: Tk.8
Price variance: Tk.20,000F
Total of direct-material variances: Tk.2,000F
 
Direct labor:
Actual hours worked: 40,000
Actual rate per hour: Tk.15
Efficiency variance: Tk.28,000F
Total of direct-labor variances: Tk.12,000U

Kamal Manufacturing completed 12,000 units.
 
Required:
Determine the following: (1) actual materials used, (2) direct-material quantity variance, (3) direct-labor rate variance, (4) standard labor rate per hour, and (5) standard labor time per finished unit.


Solution:

in brief:
 (1) actual materials used 20,000 pounds, 
(2) direct-material quantity variance Tk. $ 18,000U 
(3) direct-labor rate variance Tk. $ 40,000U 
(4) standard labor rate per hour Tk. $ 14, and 
(5) standard labor time per finished unit 3.5hours
 



IN DETAILS

(1) actual materials used
We know, Price Variances = AQ(AP-SP)
or, Tk. 20,000F = AQ(8-9)
or -20,000 = AQ(-1)
or AQ = 20,000
So, actual materials used 20,000 pounds


Note THAT: in equation form, Favorable is negative and Unfavorable is positive.


(2) direct-material quantity variance
We know, Price variance + Material variance(MV) = Total direct-material variance(TV)
or, -20,000 + MV = -2,000
So, MV = 18,000
So, direct-material quantity variance tk. 18,000 Unfavorable


(3) direct-labor rate variance
We know,
Labor Rate Variance (LV) + Efficiency variance = Total direct-labor variance
or, LV + (-28,000) = 12,000
so, LV = 40,000
so, direct-labor rate variance Tk. 40,000 Unfavorable


(4) standard labor rate per hour
We know,
Labor rate variance = AH(AR-SR)
or, 40,000 = 40,000 (15-SR)
or, 15-SR = 1
So, SR = 15-1=14
So, standard labor rate per hour Tk. 14


(5) standard labor time per finished unit
We know, Efficiency variances = SR(AH-SH)
or, -28,000 = 14(40,000-SH)
or, 40,000-SH = -2,000
So, SH = 42,000
Units produced 12,000 units
So, standard labor time per finished unit = (42,000/12,000) Tk. = 3.5 Tk.




Solution provided by Sazzad Hossain, MBA CSCA
A graduate in Accounting & Information Systems from University of Dhaka (BBA & MBA)
And a Chartered Accountants Student as of December 12, 2016
You can contact him by: sazzadais@gmail.com


Thanks







Thursday, September 29, 2016

Get EXTRA GB space in Mediafire

By joining mediafire.com      using the below link you will get some extra space, that is, more than current 10 GB..


Click Here

Enjoy and Thanks a lot.

Wednesday, April 27, 2016

How to make videos show thumbnail in Ubuntu 16.04 LTS

How to make videos show thumbnail in Ubuntu 16.04 LTS





To make or show videos thumbnail in your Ubutnu 16.04 LTS follow the following steps by opening the Terminal (Ctrl + T)

1. First install


sudo apt-get install ffmpeg ffmpegthumbnailer



2. Then


sudo gedit /usr/share/thumbnailers/totem.thumbnailer



3. Now replace the first three lines with these:


[Thumbnailer Entry]
TryExec=/usr/bin/ffmpegthumbnailer
Exec=/usr/bin/ffmpegthumbnailer -i %i -o %o -s %s -f



 Now, Go here 
.cache folder in your home folder

for this, click in your HOME, then click in the view,  then tick on show hidden folders; you will see the .cache folder. Then delete all the files found in the following folders

fail  large  normal 

Bingo !
You are done!

If you have any problem, please feel free to ask me here
sazzadais@gmail.com


Thanks






Friday, April 15, 2016

Using QuickBooks Accountant 2015 for Accounting 14th edition PDF Download free

 

Using QuickBooks® Accountant 2015 for Accounting, 14th Edition


 


  • Glenn Owen Allan Hancock College
  • ISBN-10: 1305084772  |  ISBN-13: 9781305084773
  • 448 Pages
  • Previous Editions: 2015, 2014, 2013
  • © 2016 | Published

 

About

Overview

Master fundamental accounting concepts and principles while developing your proficiency in using the market-leading accounting software: QuickBooks® Accountant 2015 by Intuit®. USING QUICKBOOKS® ACCOUNTANT 2015 FOR ACCOUNTING provides a well-organized, self-paced, concise approach that teaches the technology and application of accounting skills by illustrating how accounting information is both created and used. Fresh new cases and exercises throughout this edition reflect the latest QuickBooks® 2015 features, while unique "Trouble?" features help you avoid common accounting and software mistakes. A full version of QUICKBOOKS® ACCOUNTANT 2015 (140-day trial) accompanies each new edition and helpful online Video Demonstrations, written by the text's author, walk you through mastering key software skills. Trust the step-by-step instruction in USING QUICKBOOKS® ACCOUNTANT 2015 FOR ACCOUNTING, 14E to help you refine the practical, professional skills you need.

 

Features and Benefits

  • Grading Rubrics Save You Time In Grading Cases. These helpful tools save you time as they correspond to the cases at the end of each chapter and link each case requirement and event to a specific student-learning outcome. These valuable rubrics are available on the instructor companion web site for your convenience.
  • Ongoing Boston Catering Case Can Be Used Separately or as a Whole. Meaningful exercises related to the Boston Catering case appear in Chapters 6–11. Each part of the case is independent of the others, which gives you the flexibility to assign the whole case or focus on separate concepts.
  • Engaging Narrative Style Conveys The Importance of Accounting Topics and Software. The author uses a clear, interesting approach throughout the text to emphasize the importance of accounting topics and software in today's business world. Students see how and why systems operate with multiple applications.
  • Unique "Trouble?" Features Pinpoint Common Challenges. These valuable features throughout each chapter help learners anticipate common software and accounting mistakes and avoid those stumbling points.
  • Step-By-Step Building Block Approach Breaks Instruction Into Manageable Segments. This edition walks students through what they need to do next to master both key accounting and QuickBooks® skills.
  • Margin Icons Clearly Draw Attention To Service Or Merchandising Applications. This edition emphasizes service and merchandising businesses using margin icons throughout that clearly guide you and your students to service or merchandising applications within the book's comprehensive coverage.
  • Payroll Accounting Introduced In Optional Appendix. You have the flexibility to teach payroll accounting, one of the most significant facets of organizations with this edition's optional Payroll Accounting appendix. An additional appendix covers traditional accounting with debits and credits if you wish to integrate this material into your course.

 

Table of Contents

PART I: GETTING STARTED WITH QUICKBOOKS® ACCOUNTANT.
1. An Interactive Tour of QuickBooks® Accountant.
2. Preparing a Balance Sheet Using QuickBooks® Accountant.
3. Preparing an Income Statement Using QuickBooks® Accountant.
4. Preparing a Statement of Cash Flows Using QuickBooks® Accountant.
5. Creating Supporting Reports to Help Make Business Decisions.
PART II: CREATING A QUICKBOOKS® ACCOUNTANT FILE TO RECORD AND ANALYZE BUSINESS EVENTS.
6. Setting Up Your Business's Accounting System.
7. Cash-Oriented Business Activities.
8. Additional Business Activities.
9. Adjusting Entries.
10. Budgeting.
11. Reporting Business Activities.
12. Managing Fixed Assets.
Appendix 1: Payroll Taxes.
Appendix 2: Traditional Accounting: Debits and Credits.
Index.

 

What's New

  • Full Version of Quickbooks® Accountant 2015 Accompanies Each New Edition. Your students practice skills using the leading accounting software as this edition comes with 140-day access to the full version of QuickBooks® Accountant 2015.
  • Updated Video Demonstrations Walk Students Through Software Skills. These dynamic videos, created by text author Glenn Owen are available on the companion website to guide students through QuickBooks® Accountant 2015 software using an easy-to-follow, step-by-step approach.
  • Revised Cases and Exercises Reflect Quickbooks® 2015 Features. All cases and hands-on exercises highlight the latest QuickBooks® 2015 features as students gain important hands-on practice.
 

Meet the Author

Author Bio

Glenn Owen

Glenn Owen is a tenured member of Allan Hancock College’s Accounting and Business faculty, where he has lectured on accounting and information systems since 1995. In addition, he is a retired lecturer at the University of California at Santa Barbara, where he taught accounting and information systems courses from 1980 to 2011. His professional experience includes five years at Deloitte & Touche as well as vice president of finance positions at Westpac Resources, Inc., and Expertelligence, Inc. An acclaimed and well-respected author, Mr. Owen is well known for his QuickBooks® texts, which offer self-paced case-based instruction on the use of this commercial accounting application. His innovative teaching style emphasizes the decision maker’s perspective and encourages students to think creatively. His graduate studies in educational psychology and his 40 years of business experience yield a balanced blend of theory and practice that permeates and strengthens all of his books.

 PDF Download link: Click here

Meet the Author

Author Bio


Glenn Owen

Glenn Owen is a tenured member of Allan Hancock College’s Accounting and Business faculty, where he has lectured on accounting and information systems since 1995. In addition, he is a retired lecturer at the University of California at Santa Barbara, where he taught accounting and information systems courses from 1980 to 2011. His professional experience includes five years at Deloitte & Touche as well as vice president of finance positions at Westpac Resources, Inc., and Expertelligence, Inc. An acclaimed and well-respected author, Mr. Owen is well known for his QuickBooks® texts, which offer self-paced case-based instruction on the use of this commercial accounting application. His innovative teaching style emphasizes the decision maker’s perspective and encourages students to think creatively. His graduate studies in educational psychology and his 40 years of business experience yield a balanced blend of theory and practice that permeates and strengthens all of his books.
- See more at: http://www.cengage.com/search/productOverview.do?N=14+4294922239&Ntk=P_EPI&Ntt=20952679707546429205057307121527504479&Ntx=mode%2Bmatchallpartial#sthash.o4gL3t4w.dpuf


About

Overview

Master fundamental accounting concepts and principles while developing your proficiency in using the market-leading accounting software: QuickBooks® Accountant 2015 by Intuit®. USING QUICKBOOKS® ACCOUNTANT 2015 FOR ACCOUNTING provides a well-organized, self-paced, concise approach that teaches the technology and application of accounting skills by illustrating how accounting information is both created and used. Fresh new cases and exercises throughout this edition reflect the latest QuickBooks® 2015 features, while unique "Trouble?" features help you avoid common accounting and software mistakes. A full version of QUICKBOOKS® ACCOUNTANT 2015 (140-day trial) accompanies each new edition and helpful online Video Demonstrations, written by the text's author, walk you through mastering key software skills. Trust the step-by-step instruction in USING QUICKBOOKS® ACCOUNTANT 2015 FOR ACCOUNTING, 14E to help you refine the practical, professional skills you need.
- See more at: http://www.cengage.com/search/productOverview.do?N=14+4294922239&Ntk=P_EPI&Ntt=20952679707546429205057307121527504479&Ntx=mode%2Bmatchallpartial#sthash.o4gL3t4w.dpuf





Using QuickBooks® Accountant 2015 for Accounting, 14th Edition

  • includes QuickBooks® CD-ROM
  • Glenn Owen Allan Hancock College
  • ISBN-10: 1305084772  |  ISBN-13: 9781305084773
  • 448 Pages
  • Previous Editions: 2015, 2014, 2013
  • © 2016 | Published
- See more at: http://www.cengage.com/search/productOverview.do?N=14+4294922239&Ntk=P_EPI&Ntt=20952679707546429205057307121527504479&Ntx=mode%2Bmatchallpartial#sthash.o4gL3t4w.dpuf

Using QuickBooks® Accountant 2015 for Accounting, 14th Edition

  • includes QuickBooks® CD-ROM
  • Glenn Owen Allan Hancock College
  • ISBN-10: 1305084772  |  ISBN-13: 9781305084773
  • 448 Pages
  • Previous Editions: 2015, 2014, 2013
  • © 2016 | Published
- See more at: http://www.cengage.com/search/productOverview.do?N=14+4294922239&Ntk=P_EPI&Ntt=20952679707546429205057307121527504479&Ntx=mode%2Bmatchallpartial#sthash.o4gL3t4w.dpuf

Using QuickBooks® Accountant 2015 for Accounting, 14th Edition

  • includes QuickBooks® CD-ROM
  • Glenn Owen Allan Hancock College
  • ISBN-10: 1305084772  |  ISBN-13: 9781305084773
  • 448 Pages
  • Previous Editions: 2015, 2014, 2013
  • © 2016 | Published
- See more at: http://www.cengage.com/search/productOverview.do?N=14+4294922239&Ntk=P_EPI&Ntt=20952679707546429205057307121527504479&Ntx=mode%2Bmatchallpartial#sthash.o4gL3t4w.dpuf

Saturday, April 9, 2016

ICAB Management Information Question Analysis Knowledge Level from June 2010 to Dec 2015


ICAB Management Information Question Analysis Knowledge Level from June 2010 to Dec 2015



  1. The fundamentals of costing


  1. What is overhead? Classify different overhead costs with examples. (June-2014)(Marks-3)(Manual page-9)
  2. Define cost object and cost unit. (Dec-2013)(Marks-4)(Manual page-6,7)
  3. Give at least two examples of cost object and cost unit. (Dec-2013)(Marks-4)(Manual page-6,7)
  4. What do you understand by cost objects and cost units? (June-2013)(Marks-3)(Manual page-6,7)
  5. Which of the following objects would be suitable cost units for a hotel? (June-2013)(Marks-6)(Manual page-7)
    • Bar
    • Restaurant
    • Room/night
    • Meal served
    • Conference delegate
    • Fitness suite
    • Conference room/day
  1. Give six examples of cost units applicable to different industries.(June-2013) (Marks-4)(Manual page- )
  2. What are the differences between management accounts and financial accounts? (Dec-2011)(Marks-5)(Manual page-5)
  3. Define opportunity cost and sunk cost. (Dec-2011)(Marks-4)(Manual page- )
  4. Explain the purposes served by the segregation of fixed and variable elements of semi‐variable costs. (June-2011)(Marks- 3)(Manual page- )
  5. How is “Prime cost” different from”Marginal cost”? (June-2011)(Marks-2)(Manual page- )
  6. Define product costs and period costs. Responsibility accounting is a technique that helps-controlling costs, - state briefly how it is done. (Dec-2010)(Marks- 4+3 )(Manual page-10,15)
  7. Which one of the following items might be a costs unit within the management accounting system of a university or a college of further education? (Dec-2010)(Marks-3)(Manual page- )
    • Business studies department
    • A student
    • A college building
    • The university itself.
  1. How cost information helps in decision making? (June-2010)(Marks- 2)(Manual page-9)
  2. Define controllable and uncontrollable cost. (June-2010)(Marks- 2)(Manual page-16)
  3. Analyze costs according to their behavior with a graphical presentation. (June-2010)(Marks-4)(Manual page-13)
  4. What is a cost unit? Why a cost unit would be different depending on the organization. (June-2010)(Marks-4)(Manual page-7)
  5. What should be the cost unit for the following organizations: (June-2010)(Marks-3)(Manual page- )
    • Hospital
    • College
    • Power Station
    • Railway
    • College
    • Telephone Company

  1. Calculating unit cost (Part-1)


  1. Describe the advantages and disadvantages of the LIFO method. (Dec-2013)(Marks-4)(Manual page-24)
  2. Describe advantages and disadvantages of cumulative weighted average pricing. (Dec-2012)(Marks-6)(Manual page- )
  3. Indicate whether each of the following costs would be classified as a direct cost or an indirect cost of a car repairing garage. The repair was worked on in overtime hours due to an unusual repair loads. (June-2011)(Marks-6)(Manual page-29)
    • The salary of the garage accountant.
    • The cost of heating the garage
    • A can of engine oil used in the repair
    • A smear of grease used in the repair.
    • An overtime premium paid to the machine carrying out the repair.
    • An idle time payment made to the machine while waiting for delivery of parts for a number of jobs.
  1. What are the components to be included of a product costs over its life cycle? (June-2011)(Marks-3)(Manual page- )


Math Question
  1. June 2014 (7)
  2. Dec 2013 (2-b)
  3. June 2013 (7)
  4. Dec 2012 (1-b)
  5. June 2012 (2)
  6. Dec 2011 (8)
  7. June 2011 (2-c)
  8. Dec 2010 (2)
  9. June 2010 (5)


  1. Calculating unit cost (Part-2)
  1. Mention two reasons for under or over absorbed overhead? (June-2012)(Marks-3)(Manual page-61)
  2. What is overhead? Classify different overhead costs with examples. (June-2010)(Marks-4)(Manual page- )
  3. Discuss the costing methods with their relevant advantage and disadvantages. (June-2010)(Marks-4)(Manual page- )
  4. Which method of costing should be appropriate for the following industries: (June-2010)(Marks-3)(Manual page- )
    • Chemical Industry
    • Garments Industry
    • Fitting Kitchen Industry
    • Construction Company
    • Electricity Company
    • Paper Industry


Math Question
  1. June 2014(2-b)
  2. June 2012 (1-b)
  3. Dec 2011 (2)
  4. Dec 2010 (12)
  5. June 2010 (7)


  1. Marginal costing and absorption costing
  1. Describe the problems with traditional absorption costing. (Dec-2013)(Marks-3)(Manual page-91)
  2. In what situations is absorption costing more appropriate than marginal costing? (June-2012)(Marks-4)(Manual page- )
  3. Absorption costing and Marginal costing the two techniques are not truly alternatives. Explain it. (June-2011)(Marks-3)(Manual page-84)
  4. Why does Marginal costing technique excludes Fixed Costs. Explain briefly (June-2011)(Marks-2)(Manual page- )


Math Question
  1. Dec 2013 (4-b)
  2. June 2013 (4-b)
  3. June 2012 (2-b)
  4. Dec 2011 (7)
  5. June 2011 (4-c)
  6. June 2010 (4-b)


  1. Pricing calculations


  1. What are the aims of a transfer pricing system? (June-2012)(Marks- 5)(Manual page-113)
  2. What is mark‐up and margin? (June-2011)(Marks-2)(Manual page-111)
  3. Define transfer pricing? (June-2011)(Marks-2)(Manual page-112)
  4. What are the points to take into attention for effective variance reporting? (June-2011)(Marks-5)(Manual page- )
  5. Explain any three control ratios. (June-2011)(Marks-3)(Manual page- )
  6. How can the transfer price influence management decisions? Why might a list price less discount be more appropriate as a transfer price than a list price without discount? (Dec-2010)(Marks-3+3)(Manual page- )
  7. What are the pricing methods used? Discuss their comparative advantages and disadvantages. (June-2010)(Marks-4)(Manual page- )


Math Question
  1. Dec 2013 (3)
  2. June 2012 (3-b)
  3. Dec 2011 (9)
  4. June 2011 (3,9-b)
  5. June 2010 (11-b)


  1. Budgeting


  1. Why have many managers in recent years moved toward emphasizing employee participation in the budgeting process rather than simply imposing the budget on the employees? (June-2014)(Marks-3)(Manual page-148)
  2. Define forecast and budget. How does two differ from each other? What are the essentials of effective budgeting? (Dec-2010)(Marks-1+1+2)(Manual page- )
  3. What do mean by zero-based Budgeting? How it is prepared? What are the advantages of zero-based Budgeting? (Dec-2010)(Marks-2+1+3)(Manual page-149)


Math Question
  1. June 2013 (4)
  2. Dec 2012 (6-c)
  3. June 2012 (4-a,b)
  4. Dec 2010 (3-a,b)


  1. Cash budgets and the cash cycle


  1. What is a cash budget? How is it useful in managerial decision making? (June-2013)(Marks-5)(Manual page-164,165)
  2. What is the cash operating cycle? Describe the importance of cash operating cycle? (Dec-2012)(Marks-6)(Manual page-167,170)
  3. Discuss your understanding about cash operating cycle. (Dec-2012)(Marks-5)(Manual page-168)
  4. What are the two methods of preparing Cash Budgeting? (June-2011)(Marks- 2)(Manual page- )
  5. Distinguish between Cash Budgeting and Cash Flow statement. (June-2011)(Marks- 4)(Manual page- )
  6. What is the cash operating Cycle? (June-2010)(Marks-3)(Manual page-167)


Math Question
  1. June 2014(8-b)
  2. Dec 2012 (2-b)
  3. Dec 2012 (6-b)
  4. June 2012 (6)
  5. June 2011 (5-c)
  6. June 2010 (12-b)


  1. Performance management


  1. Define residual income. Evaluate residual income as a measure of performance. (June-2014)(Marks-4)(Manual page-197)
  2. What are some common problems encountered in determining ROI? (June-2014)(Marks-4)(Manual page-196)
  3. Describe the features of effective feedback. (Dec-2013)(Marks-3)(Manual page-184)
  4. What is flexible budget? Describe two advantages of flexible budget? (Dec-2013)(Marks-6)(Manual page-203)

Math Question
  1. June 2014(9)
  2. Dec 2013 (5-b)
  3. Dec 2013 (7-b,c)
  4. Dec 2011 (5,11)
  5. June 2011 (6,12)
  6. Dec 2010 (7,8)


  1. Standard costing and variance analysis


  1. Write four advantages of standard costing. (Dec-2011)(Marks-4)(Manual page-223)

Math Question
  1. June 2014(4)
  2. June 2013 (5-a,b)
  3. Dec 2012 (5-a,b)
  4. June 2012 (5)
  5. Dec 2011 (6-b)
  6. June 2011 (10-b,11-b)
  7. Dec 2010 (5)
  8. June 2010 (10)


  1. Breakeven analysis and limiting factor analysis


  1. What is P/V ratio? How does it relate to the break‐even point? (June-2014)(Marks-4)(Manual page-251)
  2. What is a limiting factor? (June-2013)(Marks-4)(Manual page-259)
  3. What is cost volume profit analysis? 4(June-2013)(Marks-4)(Manual page-259)
  4. Write four limitations of breakeven analysis. (Dec-2012)(Marks-4)(Manual page-259)
  5. What is P/V ratio? How does it relate to the break-even point? (Dec-2011)(Marks-3)(Manual page-250)


Math Question
  1. June 2014(3-b)
  2. June 2013 (6)
  3. Dec 2012 (3-b)
  4. Dec 2012 (4-b)
  5. Dec 2011 (3-b,4)
  6. June 2011 (7)
  7. June 2010 (8,9)


  1. Investment appraisal techniques


  1. Does a project that generates a positive internal rate of return also have a positive net present value? Explain. (June-2014)(Marks-3)(Manual page-209)
  2. What do you understand by Discounted Cash Flow (DCF)? Write the advantages of DCF Method. (Dec-2012)(Marks-6)(Manual page- )
  3. Explain the payback method of evaluating capital investments and indicate the circumstances in which this method is especially useful. (Dec-2010)(Marks- 3)(Manual page-280)
  4. What is Cost of Capital? What is the relationship between Cost of Capital & IRR? (Dec-2010)(Marks-3)(Manual page- )
  5. What is the difference between NPV and NTV? (June-2010)(Marks-3)(Manual page- )
  6. Write two advantages of NPV method and two disadvantages of ARR method. (June-2010)(Marks-3)(Manual page- )
  7. What is IRR? How it is computed? (June-2010)(Marks-4)(Manual page-295)




Math Question
  1. June 2014(5)
  2. Dec 2013 (6)
  3. June 2013 (8)
  4. Dec 2011 (10)
  5. Dec 2010 (9-c,10)
  6. June 2010 (14)


  1. Short Note


  1. Semi‐variable Costs, (June-2014)(Marks-3)(Manual page-12)
  2. Responsibility Accounting, (June-2014)(Marks-3)(Manual page-16)
  3. Controllable costs. (June-2014)(Marks-3)(Manual page-16)
  4. Incremental Budgeting (June-2014)(Marks-2)(Manual page-149)
  5. Zero based budgeting (June-2014)(Marks-2)(Manual page-148)
  6. Fixed cost (June-2013)(Marks-2)(Manual page-11,12)
  7. Variable cost (June-2013)(Marks-2)(Manual page-11,12)
  8. Semi-variable cost (June-2013)(Marks-2)(Manual page-11,12)
  9. Cost centre (Dec-2010)(Marks-2)(Manual page-189)
  10. Revenue centre (Dec-2010)(Marks-2)(Manual page-189)
  11. Profit centre (Dec-2010)(Marks-2)(Manual page-189)





ICAB IT Knowledge Question Analysis Knowledge Level from June 2010 to Dec 2015



ICAB IT Knowledge Question Analysis Knowledge Level from June 2010 to Dec 2015








  1. Information within Organization
  1. Explain how event triggered reporting works. What do you do when an accounting software
    package does not provide this feature? Cite necessary examples for both of the afore mentioned points. Mark 10, Dec 15, P-58
  2. Explain how different information systems are used at different levels ofmanagement.
    Describe the information system used by the lowest level of management. 10 mark june 15, p-44
  3. Explain the economic impact of information system technology on organizations and
    business firms. Dec 14, mark-8 , page 25
  4. Define (i) Business owner, (ii) System owner and (iii) Technical owner. Dec 14, mark-6 , page 70
  5. Distinguish between ‘data’ and ‘information’. (Dec-10)(Marks-8)(Page-)
  6. Define passive and interactive information systems and give examples of each. (Dec-10)(Marks-8)(Page-)
  7. Why is information a key resource in an organization? List five points. (June-11)(Marks-7)(Page-)
  8. Name and explain five attributes of information. (June-11)(Marks-6)(Page-)
  9. What is DSS? Name and explain different components of DSS. (Dec-11)(Marks-9)(Page-)
  10. Name five features of accounting software for Financial Reporting. (Dec-11)(Marks-4)(Page-)
  11. What are PIVOT Tables? (Dec-11)(Marks-4)(Page-)
  12. What is the difference between data and information? (June-12)(Marks-5)(Page-)
  13. List and explain five attributes of information. (June-12)(Marks-5)(Page-)
  14. Explain the internal information and external information in the context of business organizations with examples. (Dec-12)(Marks-10)(Page-)
  15. What is an Organization? Why do organizations exist? (Dec-12)(Marks-5)(Page-)
  16. Why is information so important in an organization? (Dec-12)(Marks-5)(Page-)
  17. From the perspective of critical financial reporting system, define the following key words: (June-13)(Marks-10)(Page-70)
Business Owner, System Owner, Technical Owner, System Administrator and Application Administrator.
  1. What is DSS? Write down the names of DSS’s basic components. (June-13)(Marks-5)(Page-39, 40)
  2. What is Information? Narrate the importance of Information. (Dec-13)(Marks-4)(Page-25)
  3. Write in brief, the important attributes of information. (Dec-13)(Marks-6)(Page-29)
  4. What are the differences between data and information? (June-14)(Marks-5)(Page-23)
  5. Explain relationship between organization and information system. (June-14)(Marks-5)(Page-28)
  6. What is knowledge‐based system? (June-14)(Marks-4)(Page-52)
  7. Write short notes on different types of knowledge based system. (June-14)(Marks-6)(Page-53)

  1. Information Technology Architecture
  1. What is a sniffer? What are the uses of sniffer? Describe the technologies and tools which are used to provide security with the relevant details. Mark-10, Dec 15, page-113
  2. List the technical and non-technical limitations of e-commerce. Mark 6, Dec 15, Page 119,
  3. What is a linear array? Enumerate the properties of a linear array. How does a record differ
    from a linear array? Mark 6, Dec 15, P-95
  4. Explain clearly the differences between system software and application software. What are the major classes of each? Mark 10, Dec 15, p-85
  5. How are software classified according to working principle? Describe each class withthe
    corresponding subclasses and/or types. 10 mark, june 15, p-85
  6. Define the keyword “malicious Software”. How many categories does it have? Explain
    with example of each category. 10 mark, june 15, p-109
  7. What are the basic benefits of E-commerce? 6 mark june 15, p-118
  8. Define freeware and shareware and differentiate between the two. 4 mark june 15, p-86
  9. What is distributed processing? Write down the advantages and disadvantages of
    distributed processing. Dec 14, mark 1o, page 103
  10. What is Database Management System? Describe the features commonly offered by
    Database Management System. Dec 14, mark-9 , page 25
  11. Explain in detail how a firmware works. Dec 14, mark-7 , page 92
  12. Differentiate among the following terms: (June-10)(Marks-2)(Page-)
    1. Multitasking and
    2. Timesharing
  1. What is DBMS? What are the major components of DBMS? (June-10)(Marks-3)(Page-)
  2. What is database normalization? (June-10)(Marks-2)(Page-)
  3. What is the difference between e‐Commerce and e‐Business? (June-10)(Marks-2)(Page-)
  4. What are the major control problems of e‐Commerce? (June-10)(Marks-3)(Page-)
  5. What are the differences among computer virus, worm and Trojan horse? (June-10)(Marks-2)(Page-)
  6. What is firewall? Write down the differences between hardware and software firewalls. (June-10)(Marks-3)(Page-)
  7. What are the benefits of using Database Management Systems? (Dec-10)(Marks-8)(Page-)
  8. What are the difference between Electronic Commerce and Traditional Commerce? (Dec-10)(Marks-5)(Page-)
  9. What are malicious software. Name and briefly explain five types of malicious software. (June-11)(Marks-8)(Page-)
  10. What are the benefits and limitations of e‐Commerce? (June-11)(Marks-6)(Page-)
  11. Define and explain three categories of organizational management process. (June-11)(Marks-6)(Page-)
  12. Briefly explain Information System infrastructure and IT architecture. (June-11)(Marks-7)(Page-)
  13. What are the different types of hardware used in a desktop computer? (Dec-11)(Marks-4)(Page-)
  14. Draw the classification tree of software. (Dec-11)(Marks-4)(Page-)
  15. What do you understand by data analysis? (Dec-11)(Marks-3)(Page-)
  16. Write about the advantages and disadvantages of distributed system. (Dec-11)(Marks-5)(Page-)
  17. Write down advantages and disadvantages of Multiprogramming and Multiprocessing. (Dec-11)(Marks-8)(Page-)
  18. Write short notes on: (Dec-11)(Marks-8)(Page-)
(i) Firewall (ii) Worms and (iii) Trojan horse
  1. Write short notes on Commercial software, Freeware and Shareware. (Dec-11)(Marks-8)(Page-)
  2. Define ‘security’ and ‘Control’ in relation to computerized information system. (June-12)(Marks-5)(Page-)
  3. Write short notes on (i) Virus (a type of malicious software), (ii) Hacker, (iii) Spoofing and (iv) `Denial of service’ attack. (June-12)(Marks-5)(Page-)
  4. What are Information System Infrastructure and Information System Architecture? (June-12)(Marks-10)(Page-)
  5. What are the differences between Batch processing, Real time processing, Time sharing and Distributed processing? (Dec-12)(Marks-10)(Page-)
  6. Identify the benefits and limitations of e-commerce. (Dec-12)(Marks-8)(Page-)
  7. What is Database Management System? Describe the features commonly offered by Database Management System. (Dec-12)(Marks-10)(Page-)
  8. What are the relationships between Shareware and Freeware? (June-13)(Marks-5)(Page-91)
  9. What is data structure? Write down the names of two linear data structures and explain one. (June-13)(Marks-10)(Page-94)
  10. List different types of hardware used in a desktop computer. (June-13)(Marks-5)(Page-83)
  11. Draw the classification tree of software. (June-13)(Marks-5)(Page-86)
  12. What is data validation? Explain in brief. (Dec-13)(Marks-5)(Page-96)
  13. Explain five validation methods in brief. (Dec-13)(Marks-5)(Page-97)
  14. What is e‐commerce? Explain the characteristics of e‐commerce in brief. (Dec-13)(Marks-10)(Page-116)
  15. What are the “Technical” and “Non‐technical” limitations of e‐commerce? (June-14)(Marks-5)(Page-119)
  16. What do you know about “Hackers and Cyber‐vandalism”? (June-14)(Marks-5)(Page-113)

  1. Management of IT
  1. Define identity management and describe in detail various aspects of identity management. Mark 8, Dec 15, p-185
  2. Core Modules of accounting, 5 mark, june 15, p-187
  3. Compare and contrast between broadcast and multicast in data communication with
    necessary examples. 10 mark, June-15, p-198
  4. What are the IT assets? Describe the benefits of IT Asset Management (ITAM).Which
    considerations should be addressed to optimize an ITAM program? 10 mark. June 15, p-142
  5. Draw the IT Asset Management (ITAM) life cycle and describe the benefits of using that. (Dec-10)(Marks-4+5)(Page-)
  6. How would you evaluate an ITAM solution? (Dec-10)(Marks-6)(Page-)
  7. Prepare a checklist of ten points you consider important for selecting Accounting software for your organization. (June-11)(Marks-8)(Page-)
  8. List and explain ten different data validation methods. (June-12)(Marks-5)(Page-)
  9. Explain (a) the Historical approach, (b) Top Down approach and (c) the Bench marking approach in relation to IT Performance Management. (June-12)(Marks-10)(Page-)
  10. List and explain eight core modules that accounting software may have. (June-12)(Marks-10)(Page-)
  11. Which criteria should be followed to select Accounting Software? (Dec-12)(Marks-7)(Page-)
  12. There are three key components to management review and oversight of the problem management function. Explain those in brief. (June-13)(Marks-10)(Page-162)
  13. What is trust management considering encryption? Explain in brief. (June-13)(Marks-10)(Page-184)
  14. Why is Information System Security Important? What Information is Sensitive? (Dec-13)(Marks-8)(Page-117,179)
  15. Write down the components of information security. (Dec-13)(Marks-2)(Page-181)
  16. There are misconceptions about IT Assets Management (ITAM). Explain in brief at least three popular misconceptions. (June-14)(Marks-10)(Page-147)
  17. What is trust management considering encryption? Explain in brief. (June-14)(Marks-10)(Page-184)

  1. Communication of IT
  1. Define a LAN. Explain the mode of communication and characteristics of a LAN. What are the
    advantages and disadvantages of connecting computers in a LAN? mark 10, Dec 15, p-201
  2. Network Topology, 5 mark, June 15, p-210
  3. Define and explain the elements of communication protocol. Explain the roles or functions
    performed by the data communicationsoftware for the efficient and error free transmission
    of data. 10 mark, June-15, page-219
  4. Whyis information system security important? 6 mark, june 15, p-177
    (b) Explain “vulnerability management” and “threat management” in management of IT
    security. 4 mark, June-15, p- 183,
  5. What is Computer Network? List different types of network topology and describe any
    three of them. 10 Dec 14, mark-10 , page 210
  6. Name 7 layers of OSI models and define their functionality. (June-10)(Marks-5)(Page-)
  7. What are triggers? What are their uses? (June-10)(Marks-5)(Page-)
  8. What are the roles of communication protocols? (Dec-10)(Marks-8)(Page-)
  9. List five differences between LAN and WAN. What are the benefits of a computer network? (June-11)(Marks-5)(Page-)
  10. Briefly explain the following:‐
a) Router, b) Repeater, c) Hub, d) Network topology. (June-10)(Marks-6)(Page-)
  1. Write short notes on ring topology, mesh topology and star topology. (Dec-11)(Marks-8)(Page-)
  2. What is communication protocol? Describe three key elements of a protocol. (Dec-11)(Marks-9)(Page-)
  3. What is data Communication? What are the three basic elements of a communication system? What are the three ways of transmitting data from one point to another? (June-12)(Marks-10)(Page-)
  4. What is computer Network? Describe different types of computer Network based on geographical area. (Dec-12)(Marks-7)(Page-)
  5. What is OSI-Model? Describe the functionality of 7-layers in OSI-model of communication protocol. (Dec-12)(Marks-8)(Page-)
  6. Explain at least three advantages and disadvantages of connecting computers in a LAN. (June-13)(Marks-10)(Page-202)
  7. What factors should be considered when choosing a topology for installing a Computer Network? What is communication protocol? Write down the Key elements of protocol. (Dec-13)(Marks-10)(Page-216,219)
  8. What is ISO‐OSI model? (June-14)(Marks-3)(Page-221)
  9. Write the functionalities of the different layers of ISO‐OSI model. (June-14)(Marks-7)(Page-222)

  1. Internal Control Based Systems
  1. Discuss, with necessary example, which issues one needs to take into account to determine the cost effectiveness of internal control procedure under computer based business system. Mark 7, Dec 15, p-253 (cost effectiveness of internal control found but cost effectiveness of internal control in IT not found)
  2. Describe in brief five main types of IT Audit. mark 10, Dec 15, p-248
  3. How can you categorize the IT control activities? What are some of the IT control activities an
    employee in an organization may undertake? Mark 4, Dec 15, P-231
  4. Using the internal control pyramid, describe the five key components required for effective
    internal control. Mark 8, Dec 15, p-229
  5. What is disaster recovery plan? Describe major areas of a disaster recovery planning
    document. 10 mark, June 15, p-250
  6. What is data integrity? Explain the six categories of data integrity controls. Dec 14, mark-1o , page 278
  7. What is control? What are the purposes of internal control? Explain the five key
    components required for effective internal control. Dec 14, mark-1o , page 228
  8. Discuss on any worldwide reputed ERP system, including the background and features. Dec 14, mark-10 , page 310
  9. What is Audit Trail? Explain its objectives.
  10. Describe Post Implementation Review (PIR) Dec 14, mark-10 , page 269
  11. Define Information System and Information Technology. (June-10)(Marks-2)(Page-)
  12. What are the objectives of Information System auditing? (June-10)(Marks-3)(Page-)
  13. Define the following terms: (June-10)(Marks-3)(Page-)
(i) Throughput
(ii) Turnaround time
(iii) Response time
  1. What do you mean by Computer Assisted Audit Technique (CAAT)? (June-10)(Marks-2)(Page-)
  2. What is COBIT? What are the dimensions that COBIT covers? (June-10)(Marks-3)(Page-)
  3. Briefly describe the three fundamental types of control in IS Audit. (June-10)(Marks-3)(Page-)
  4. Define the following terms: (June-10)(Marks-2)(Page-)
(i) CISA
(ii) CISM
  1. What is ERP? (June-10)(Marks-2)(Page-)
  2. Discuss about the threats from inside and outside of the organization in case of ERP? (June-10)(Marks-3)(Page-)
  3. How Unified access can provide the solution for ERP security? (June-10)(Marks-3)(Page-)
  4. Describe the control activities for Information Technology. (Dec-10)(Marks-13)(Page-)
  5. Suppose you have to audit IT investments and activities of an organization. Name at least 8 (eight) components of your IT audit. (Dec-10)(Marks-8)(Page-)
  6. What is System and Program Change Control? How can you apply management control over system and program changes? (Dec-10)(Marks-3+5)(Page-)
  7. What do you mean by risk management process? Show the risk management cycle. (Dec-10)(Marks-4+4)(Page-)
  8. Why does information system security important? Explain it. (Dec-10)(Marks-5)(Page-)
  9. List and explain five tools for providing information security in a computer environment. (June-11)(Marks-7)(Page-)
  10. Business process standardization is an important step for ERP implementation. Name and explain another four issues that need to be addressed for ERP implementation. (June-11)(Marks-9)(Page-)
  11. What is ITGC? List and explain five types of controls included in ITGC. (June-11)(Marks-7)(Page-)
  12. List and explain five different types of IT Audit. (June-11)(Marks-8)(Page-)
  13. Briefly explain (a) risk, (b) threat, (c) exposure and (d) vulnerability. (June-11)(Marks-8)(Page-)
  14. What is COBIT? What are the domains of COBIT? Describe the components of a complete COBIT package. (Dec-11)(Marks-9)(Page-)
  15. Why is information security important? Name and explain three information areas that are sensitive(Dec-11)(Marks-9)(Page-)
  16. List and explain five key points to address the complexities arising in an organization for a global ERP implementation. (June-12)(Marks-10)(Page-)
  17. What are the Control Activities for Information Technology in relation to Internal Control in computer Based Business System? (June-12)(Marks-10)(Page-)
  18. Briefly explain ‘Testing and Quality Controls’ as applied to computerized systems to prove that they perform to the satisfaction of various interested parties. (June-12)(Marks-10)(Page-)
  19. Describe the threats within a computer Based Business System. (Dec-12)(Marks-10)(Page-)
  20. What is enterprise resource planning (ERP)? Explain the benefits of ERP solutions. (Dec-12)(Marks-10)(Page-)
  21. Write down at least ten main types of IT audit. Explain Disaster contingency, business continuity planning and IT disaster recovery audits. (Dec-12)(Marks-10)(Page-)
  22. List and explain the Controls over Program Changes. (June-13)(Marks-10)(Page-273)
  23. Identify and discuss threats to the Computerized Environment in Computer Based Business System. (June-13)(Marks-10)(Page-283)
  24. Write down at least ten main types of IT audit. Explain Disaster contingency, business continuity planning and IT disaster recovery audits. (June-14)(Marks-10)(Page-248)
  25. As regards to IT Control give the examples of (i) Preventive control, and (ii) Detective control. (June-14)(Marks-5)(Page-259,261)
  26. b) What are the phases in the methodologies of developing a business continuity plan? (June-14)(Marks-5)(Page-291)

Others
  1. Enumerate and define the threats due to cyber crimes. Mark 5, Dec 15
  2. Discuss about the IT Performance management. Mark 10, Dec 15
  3. What do you mean by network security? What are the basic network security tools? (June-10)(Marks-3)(Page-)
  4. What is IDS? How IDS can secure a network? (June-10)(Marks-2)(Page-)
  5. What do you mean by software piracy? (June-10)(Marks-2)(Page-)
  6. What are the risks associated with pirated software use in an information system? (June-10)(Marks-3)(Page-)
  7. Write down the advantages and disadvantages of IT outsourcing? (June-10)(Marks-3)(Page-)
  8. Compare briefly between Wi‐Max and Wi‐Fi technology. (June-10)(Marks-2)(Page-)
  9. Define the following terms: (June-10)(Marks-2)(Page-)
(i) Phishing
(ii) Spam
  1. Describe the process that happens when you click a link in your web browser to fetch another web page. (June-10)(Marks-5)(Page-)
  2. What is HTTP? How does it work in basic terms? (June-10)(Marks-5)(Page-)
  3. What is CGI program? How does one get invoked? (June-10)(Marks-5)(Page-)
  4. How do you do FTP? (June-10)(Marks-5)(Page-)
  5. What is a DHCP? What does it do? (June-10)(Marks-5)(Page-)
  6. What is Knowledge management? (June-10)(Marks-5)(Page-)
  7. What are knowledge based system (KBS)? Write about different types of knowledge based systems. (Dec-11)(Marks-8)(Page-)
  8. Briefly explain the role and responsibilities of Database Administrator, System Administrator, and Network Administrator. (Dec-13)(Marks-10)(Page-)
  9. What do you understand by data analysis? (Dec-13)(Marks-3)(Page-)
  10. Write about the advantages and disadvantages of distributed system. (Dec-13)(Marks-7)(Page-)
  11. Describe the categories of IT control. (Dec-13)(Marks-10)(Page-)
  12. What are the control objectives that should help meet the minimum level of security and control of a computer network, especially (i) File Server and (ii) LAN & WAN. (Dec-13)(Marks-10)(Page-)
  13. Explain IT Manager’s role. (Dec-13)(Marks-5)(Page-)
  14. What are the guiding principles of KPI? (Dec-13)(Marks-5)(Page-)
  15. Explain the internal information and external information in the context of business organizations with examples. (June-14)(Marks-10)(Page-)
  16. Describe policy monitoring & maintenance and reverse engineering used in an organization. (June-14)(Marks-10)(Page-)

Short note
  1. 10. Short Notes: (June-13)(Marks-10)(Page-205-209,115)
Router, Switch, Passive hub, Bridge and Firewall.