Costing For SEBI Grade A Exam, Revision Plan

Costing For SEBI Grade A Exam

Costing is a process of recording and tracking costs involved in the production of goods and services. Cost Sheets are prepared to record the information regarding expenditure involved in producing goods and services and delivering them to the right customers to generate business income. Many types of costs are involved in cost accounting such as fixed costs, variable costs, direct costs, indirect costs, and operating costs. Keeping track of these costs is essential to know expenses incurred in business operations to produce goods and services for customers. Costing section is asked in SEBI Grade A Phase 1 (Paper 2). A total of 50 questions asked in Paper 2 carrying a value of 100 marks in Paper 2. We can expect around 6 to 8 questions from Costing paper in SEBI Grade A Phase 1 Exam scheduled on 27th July 2024. Candidates can follow the blog titled Costing For SEBI Grade A Exam to know and revise important topics from an exam perspective. A week before exam, we want candidates to go through scoring topics to get sureshot marks in the actual exam.

Most Scoring Topics in Costing For SEBI Grade A Phase 1 Exam

Do you want to improve your chances of achieving a qualifying cut off in paper 2? Candidates should score qualifying cut off marks 40 marks out of 100 marks to pass this paper. Without proper knowledge and information, candidates cannot boost scores in the actual exam. Costing Paper can be a game changer in Paper 2. Around 6 to 8 questions asked from Lean System topic in the last few years of exams conducted by SEBI Authorities. In this section, we discuss about Lean System and simple tips to revise this topic for the exam scheduled to be conducted online on 27th July 2024. Check out the topics from which questions are asked from Costing.

Lean System

Lean System is an organized method for waste minimization without sacrificing productivity within a manufacturing system. Lean implementation emphasizes the importance of optimizing workflow through strategic operational procedures while minimizing waste and being adaptable.
Waste is any step or action in a process that is not required to complete a process successfully (called “Non-Value Adding”). There are generally 7 types of waste:
1. Overproduction: Producing ahead of demand.
2. Inventory: Having more inventory than, what is minimally required at any point in the process, including end-product.
3. Waiting: Waiting includes products waiting on the next production step.
4. Motion: People or equipment moving or walking more than, what is required to perform the process.
5. Transportation: Moving products that are not required to perform the process.
6. Rework from defects: Non-right first time.
7. Over-Processing: Unnecessary work elements (non-value-added activities).

Final Words

Aspirants appearing in SEBI Grade A Phase 1 on 27th July 2024 should know that questions asked by Costing are conceptual. The level of questions depends on easy to moderate. Focus on your calculation and information based on Lean System topics. Around 6 to 8 questions are from this topic. Get our SEBI Grade A Non Video covers study notes, revision notes, and mock tests.