CA Final Costing – Study Material, Papers, Tips

CA Final is the last stage of the CA course in India. After 2.5 years of articleship in CA, final level students are eligible to appear for CA final exams. The exams are held twice a year in May and November. CA Final course has eight papers divided into two groups to study. Paper 5 Strategic Cost Management and Performance Evaluation or popularly known as costing is in the second group and is one of the most lucrative papers to gain good marks or exemption.

Read how to get a rank in CA final exam. For guidance on the study, plan for CA final exams.
By solving the question paper, sample paper, mock test paper, model test paper, regularly students can master the costing subject. You can easily download all the study material for preparing the CA final Costing subject that will be held in the name of Strategic Cost Management and Performance Evaluation under the new course scheme.

You can even know the weight-age of marks chapter wise, syllabus and important tips and tricks related to CA Final P-5 exams 2022. According to the CA Final date sheet, the costing paper will be held on Nov 10, 2022.

Students under CA final new revised course has the new and updated syllabus Paper 5 is from the second group and is majorly a practical paper. Whereas the subsequent paper 6 is optional and open-book paper. The elective paper is basically evaluated on the evaluation analytical and reporting skills of students. The exams are open-book exams for CA final 2022 paper 6.

Understand CA Final Costing/SCM and PE paper 2022

CA Final costing or Strategic Cost Management and Performance Evaluation under the new course scheme is paper 5 of CA final course under the new scheme. The paper is broadly divided into 2 segments. 1)Strategic Cost Management 2) Performance Evaluation.

Why should you study CA Final Costing/SCM and PE paper?

The syllabus of this course will help you understand how to develop the pricing model, how to do budgetary controls. They require cost management in every organization for the planning and evaluation process. The understanding of the subject helps the CFO profiles instrumental in analyzing, synthesizing and testing the cost and its factors. With the help of a technique learned in this syllabus can help you address the challenges and give suggestions or advice to the management.

CA Final Costing/SCM Paper Pattern 2022

1. Paper pattern: Subjective
2. Total question asked: 100
3. Total exam duration: 3 hours
4. Maximum marks got: 100 marks
5. Total question asked: 6 out of which five need to be answered

Strategic Cost Management and Performance Evaluation Skills Assessment

There are strict guidelines that need to be followed while answering the costing paper. ICAI has issued an illustrative list of verbs, and when a question comes from any of those verbs, it is compulsory for students to answer according to those illustrations of the verb.

for e.g.

If the question comes with the verb ” Evaluate”, then the set proforma for answering is like:

In such a question, the students need to provide a balanced assessment including both the positive and negative aspects of an issue.

It might mean computations, but it might not.

It is important to emphasise something is in qualitative terms and monetary terms.

The verb list with illustration includes

1. Recommend: Identify and explain any reasonable options → evaluate each → conclusion → recommended.
2. Evaluate Balanced assessment including both the positive and negative aspects of an issue. It might mean computations, but it might not. It is important to emphasise something is in qualitative terms, and monetary.
3. Advice: Building up a good, comprehensive, argument that leads to one or more choices for the owners or managers to consider.
4. Produce: Begin with very little or nothing to make something or bring something into existence.
5. Prioritize: To decide which of a group of things are the most important so that you can deal with them first. Here, you’ll also have to explain/ clarify, for each item, why you put it, where you did in the list of ‘priorities’.
6. Interpret Translation in a more coherent way in its exact sense than the former. This is often the second stage of ‘analyse’.
7. Discuss: There needs to be an ‘argument’. You need two or more differing or conflicting viewpoints. Also, any discussion should, if possible, end in an outcome. For example; advantages vs. disadvantages → outcome; Or reasons why vs. why not → the outcome; Or maybe this vs. maybe that → outcome.
8. Construct: As ‘prepare with the explicit reason. Use Compare and contrast or similarities and differences between two or more things.
9. Categorize:  To put things into groups with the same features with an explanation after each item saying why you put it in that particular group and not one of the others.
10. Analyze: Taking apart information or data to discover relationships, causes, patterns and connections. This is about a series of detailed explanations.
11. Tabulate An arrangement of facts and numbers in rows or blocks.
12. Solve: ‘Calculation’ with the most suitable technique or process and explain.
13. Reconcile: To find the results of calculations of two opposed problems and submit the reconciling statement.
14. Prepare: ‘Prepare’ by considering the relevant data, processing it by calculations or rearranging it, then providing it in a specific form.
15. Demonstrate: ‘Demonstrate’ or show something is correct apart from any doubt, by giving proof.
16. Calculate: Reckon mathematically.
17. Apply: Applying the facts, rules, concepts, and ideas. This is not just talking about it in theory, do it for real i.e. new situations.
18. Illustrate: Give an example.
19. Identify: Recognize, establish or select after consideration.
20. Explain: Describing or giving information about it. Write a sentence that makes a point → Then write another to clarify why the sentence is so → If the point still isn’t clear, write another sentence that makes it clearer.
21. Distinguish: To recognize the difference between two things. List the features of each of the things that make them unlike each other.
22. Describe: What it is? This is the next step from list, state, define. You might need to give a short paragraph covering the issues.
23. Define: Just give a textbook or dictionary definition, you may use your own words instead. This is simply a test of memory.
24. State: What is…? Convey what need to say in brief. No need to explain, unless it isn’t clear.
25. List: How many…? Just give a list. Each of the points on the ‘list’ should be stated in terms of a full sentence, for clarity, but there’s no requirement to go any further than that.

1. ICAI will assess each question through comprehensive knowledge, analytical skill, and reporting efficiency.

2. Each question has 3 or 4 sections to be addressed and solved.

When students don’t follow the exams answer pattern, they get low marks and fail in exams. Read tips for CA final failed students to know more about it.

ICAI CA Final Paper 5 Costing Weightage: Chapter Wise (2022)

ICAI has given weightage to particular chapters according to their implication on the real-world and level of difficulty. It is important for students to plan and prepare for the exams according to the weightage of topics and break down chapters accordingly.

CA Final Costing/ SCM and PE Syllabus 2022

ICAI has revised the CA Final syllabus under the new scheme. Students can download the entire CA Final Syllabus from here.
Free download of the updated 2020 Syllabus for CA Final Costing/ SCM and PE Syllabus for the newly revised course from here.

CA Final Costing/ SCM and PE Study Material 2022

Students can download CA Final study material 2022 for all subjects provided by the Institute of Chartered Accountants of India from the link.

Study material includes the basic content of all the chapters included in the syllabus. We give the study material for paper 5 of Ca Final below. You can download and use it while preparing for exams.

Study Material for CA Final costing /SCM and PE

Students use the ICAI study material along with some other books and notes available online and offline to have a proper understanding of the topics. VSI provides the most sorted and simple Ca final costing paper notes for the proper and deep understanding of topics

CA Final Costing/ SCM and PE Question Papers with Suggested Answers 2022

By solving the ICAI previous year’s CA final papers and writing the answers in a similar format as the suggested answers, then the students can gain higher marks in the exams.

CA Final Costing/ SCM and PE Mock Test Papers 2022

ICAI has revised the syllabus under the new scheme. Students can download the suggested Mock Test Paper for CA Final costing/ Strategic Cost Management and Performance Evaluation for the new syllabus from here.

CA Final Costing/ SCM and PE Revision Test Papers RTP 2022

ICAI has revised the 65% syllabus under the new scheme. Students can download the RTP of CA Final costing for both Hindi and English medium students for 2018, 2019 and 2020 May and November.

1. November, 2021 – Hindi Medium
2. November 2021
3. May 2021 – Hindi Medium
4. May 2021
5. November, 2020 – Hindi Medium
6. November, 2020
7. May 2020 – Hindi Medium
8. May 2020
9. November 2019
10. May 2019 – Hindi Medium
11. May 2019
12. November 2018 – Hindi Medium
13. November 2018
14. May 2018

CA Final Costing/ SCM and PE Case Studies with the Solution

The new revised syllabus has given 20% weightage to case studies. Students need to solve the case studies with their evaluation, application and understanding skills. The students need to consider the answer pattern as prescribed by ICAI. Their answer will be assessed accordingly and anyone who is able to answer in the expected format will earn some marks. We provide here some case studies prescribed by ICAI.

1. Supply Chain Management ‘Memorable Travels’
2. Fitzgerald and Moon’s Building Block Model ‘Grab and Go’
3. Traditional Accounting Framework vs. Triple Bottom Line Framework ‘PSL’
4. Porter’s Value Chain Model vs Value Shop Model ‘Westwood’

CA Final Costing/ SCM and PE Additional Case Studies and Questions 2022

Extra questions, extra practice, Extra Marks. The more the better. Solve some extra questions with VSI to rock 2022 exams.

Additional Case Scenarios

1. Six Sigma ‘Derby Grey’
2. Environmental Management Accounting ‘CNB Oil’
3. Value Analysis and Functional Analysis ‘QWC’
4. Triple Bottom Line (TBL) ‘Caregiver’
5. Feedback Control & Feedforward Control ‘EW Partners’
6. Business Process Reengineering ‘ANI’
7. Participative Budget ‘SPM’

Additional Questions

1. Variance Analysis in ABC and Planning & Operational Variances ‘JPY’
2. Performance Measurement System ‘Aquatic Feed’
3. Activity Based Cost Management ‘Melody’
4. Decision Making ‘S’
5. Life Cycle Costing ‘Y-Connections’
6. Planning and Operational Variances ‘PTKLL’
7. Interpretation of Direct Labour Variances ‘NZSCO’
8. Performance Measurement in the Not for Profit Sector ‘West Coast’

How to Revise for CA Final Costing/ SCM and PE

CA final costing needs timely revision to excel in the subject. The quick revision capsules given below will help you revise the complete syllabus in the easiest and most quick manner. They explain the chapters in simple infographics, that will stimulate and refresh your memory in just a simple glance.

1. Quick Revision Capsule-I
2. Quick Revision Capsule-II

Old CA Final Course VS and New CA Final Costing /SCMEP Course 2022

The syllabus. the marking pattern, the assessments pattern, the case studies everything has changed with the new revised syllabus of CA final costing or SCMEP. We are sharing the ICAI approved differences in both the syllabus and marking scheme.

Read this to know the change in Syllabus of New and old CA final Costing Paper

CA Final Costing/ SCM and PE Pen Drive and Online Classes

Study material includes the basic content of all the chapters included in the syllabus. Students use the ICAI study material along with some other books and notes available online and offline to have a proper understanding of the topics. VSI provides the most sorted and simple study material for a proper and deep understanding of SCMEP in their exclusive classes. They also provide pen drive classes to their students that covers the entire study material in the most effective way.
VSI also provides the pen drive class for both English and Hindi medium students. You can also download the study material for Hindi medium students for May 2022 CA FINAL COSTING/ SCM and PE.

How to study For CA Final Costing 2022?

There are some frequently asked questions regarding how to study and what should be the study plan for CA final costing paper 2022.

Should I do self-study for CA final costing paper or should I enrol for CA coaching classes?

If you are well prepared with the syllabus and have the expert knowledge, comprehensive, analytical and application Skillset then you surely can build evaluation skills required at the final level with self-study. Else you can enrol with VSI for CA final coaching as:

1. VSI gives the best Ca final results
2. They have the highest number of rankers
3. They have the highest number of toppers.

Are you still wondering where to join for CA final coaching?

Don’t waste your time in figuring out who is the best teacher for CA final costing or which are the best books for CA final costing. Enrol with VSI and you will have all the best things to help you in your studies.
We wish you all the best for the future.
Keep yourself healthy and positive.