Wednesday, 23 January 2013


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(CATEGORY NO. 484/2011)
1. Advanced accounting
1. Accounting Standards: Overview of International Accounting Standards
(IAS)/International Financial Reporting Standards (IFRS), Interpretations by International
Financial Reporting, Interpretation Committee (IFRIC), Indian Accounting Standards.

2. Company Accounts: (a) Preparation of financial statements - Profit and Loss .Account,
Balance Sheet and Cash Flow Statement (b) Profit (Loss) prior to incorporation (c)
Alteration of share capital, Conversion of fully paid shares into stock and stock into
shares, Accounting for bonus issue (d) problems on Accounting for business acquisition,
Amalgamation and reconstruction

2.Business Ethics
The nature, purpose of ethics and morals for organizational interests; ethics and conflicts of
interests; ethical and social implications of business policies and decisions; corporate social
responsibility; ethical issues in corporate governance. Ethics in Workplace: Individual in the
organization, discrimination, harassment, gender equality.

3.Legal Deeds and Documents
(a) Partnership deed (b) Power of Attorney (c) Lease deed (d) Affidavit (e) Indemnity bond (f)
Gift deed (g) Memorandum and articles of association of a company

4.Cost & Management Accounting
(a) Objectives and scope of cost accounting (b) Cost centres and cost units (c) Cost classification
for stock valuation, profit measurement, decision making and control (d) Coding systems (e)
Elements of cost (f) Cost behaviour pattern, separating the components of semi-variable costs (g)
Installation of a costing system (h) Relationship of cost accounting, financial accounting,
management accounting and financial management. Marginal costing, break even analysis and its
applications in decision making, Budget Concepts and Preparation - Fixed and Flexible Budgets,
Fixed, variable, semi-variable and activity-based categorizations of cost and their application in
projecting financial results, Zero base budgeting.

5.Financial Management
Meaning, importance and objectives, Conflicts in profit versus value maximization principle,
Financing Decisions - Cost of Capital - weighted average cost of capital and marginal cost of
capital , Capital Structure decisions - capital structure patterns, designing optimum capital
structure, constraints, various capital structure theories , Business risk and financial risk -
operating and financial leverage, trading on equity. Project financing, Management of working
capital, Capital Budgeting Decisions -Certainty Equivalent approach, Evaluation of Risky
Investment Proposals, Risk and Return analysis, Simulation and decision tree analysis,
Sensitivity analysis, Capital Rationing, Adjusted Net Present Value, Replacement decisions,
Application of Real Options in capital budgeting, Impact of inflation on capital budgeting

Nature and limitations of Auditing, Basic Principles governing an audit, Ethical principles and
concept of Auditor's Independence, Relationship of  auditing with other disciplines. Audit
planning, Audit programme, Audit working papers, Audit files, Audit procedures, Internal
Control, Auditing Standards, Statements and Guidance Notes, Auditing and Assurance Standards
(AASs); Statements and Guidance Notes on Auditing issued by the ICAI; Significant differences
between Auditing and Assurance Standards and International Standards on Auditing. Company
Audit - Audit of Shares, Qualifications and Disqualifications of Auditors, Appointment of
auditors, Removal of auditors, Powers and duties of auditors, Branch audit, Joint audit, Special
audit, Reporting requirements under the Companies Act, 1956.

7. Capital Market & Capital Market Instruments
Capital Market / Security Market , Primary Market / New Issues / IPO Market , Secondary
Market / Stock Market / Stock Exchange , Depositaries , Private placements of shares / Buy back
of shares , CAPM Vs Market Model , Issue mechanism, Forward Contract and future contracts


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