SYLLABUS - 2016 PAPERS & CONTENTS
Foundation Course:
PAPER 1: FUNDAMENTALS OF ECONOMICS AND MANAGEMENT (FEM)
PAPER 2: FUNDAMENTALS OF ACCOUNTING (FOA)
PAPER 3: FUNDAMENTALS OF LAWS AND ETHICS (FLE)
PAPER 4: FUNDAMENTALS OF BUSINESS MATHEMATICS AND STATISTICS (FBMS)
Intermediate Course:
Group-1
Paper 5 : Financial Accounting (FAC)
Paper 6 : Laws & Ethics (LNE)
Paper 7 : Direct Taxation (DTX)
Paper 8 : Cost Accounting (CA)
Group-2
Paper 9 : Operations Management & Strategic Management(OMSM)
Paper 10 : Cost & Management Accounting and Financial Management (CMAFM)
Paper 11 : Indirect Taxation (ITX)
Paper 12 : Company Accounts and Audit (CAA)
Final Course:
Group-3
Paper 13 : Corporate Laws & Compliance (CLC)
Paper 14: Strategic Financial Management (SFM)
Paper 15 : Strategic Cost Management – Decision Making (SCMD)
Paper 16 : Direct Tax Laws and International Taxation (DIT)
Group-4
Paper 17 : Corporate Financial Reporting (CFR)
Paper 18 : Indirect Tax Laws and Practice (ITP)
Paper 19 : Cost and Management Audit (CMAD)
Paper 20 : Strategic Performance Management and Business Valuation (SPBV)
PAPER 1: FUNDAMENTALS OF ECONOMICS AND MANAGEMENT (FEM)
Section A: Fundamentals of Economics 50%
1. Basic concepts of Economics 20%
2. Forms of Market 20%
3. Money and Banking 10%
Section B: Fundamentals of Management 50%
4. Management Process 50%
SECTION A: FUNDAMENTALS OF ECONOMICS [50 MARKS]
1. Basic Concepts of Economics – Micro & Macro Economics
(a) The Fundamentals of Economics
(b) Utility, Wealth, Production
(c) Theory of Demand (meaning, determinants of demand, law of demand, elasticity of
demand-price, income and cross elasticity) and Supply (meaning, determinants, law of
supply and elasticity of supply)
(d) Equilibrium
(e) Theory of Production (meaning, factors, laws of production-law of variable proportion,
laws of returns to scale)
(f) Cost of Production (concept of costs, short-run and long-run costs, average and
marginal costs, total, fixed and variable costs)
2. Forms of Market
(a) Pricing strategies in various forms of markets
3. Money and Banking
(a) Definition of Money, Types, Features and Functions
(b) Definition, functions, utility, principles of Banking
(c) Commercial Banks, Central Bank
(d) Measures of credit control and Money Market
SECTION B – FUNDAMENTALS OF MANAGEMENT [50 MARKS]
4. Management Process
(a) Introduction, planning, organizing, staffing, leading control, communication, co-
ordination
(b) Concept of Power, Authority, Delegation of Authority, Responsibility, Accountability
(c) Leadership & Motivation – Concepts & Theories
(d) Decision-making – types of decisions, decision- making process.
PAPER 2: FUNDAMENTALS OF ACCOUNTING (FOA)
Section A: Fundamentals of Financial Accounting 80%
1. Accounting Fundamentals 35%
2. Accounting for Special Transactions 20%
3. Preparation of Final Accounts 25%
Section B: Fundamentals of Cost Accounting 20%
4. Fundamentals of Cost Accounting 20%
SECTION A : FUNDAMENTALS OF FINANCIAL ACCOUNTING [80 MARKS]
1. Accounting Fundamentals
(a) Accounting Principles, Concepts and Conventions
(b) Capital and Revenue transactions- capital and revenue expenditures, capital and
revenue receipts
(c) Double entry system, Books of prime entry, Subsidiary Books, Cash Book
(d) Journal , Ledger, Trial Balance
(e) Depreciation – Methods (Straight Line and Diminishing Balance methods only)
(f) Rectification of Errors
(g) Opening entries, Transfer entries, Adjustment entries, Closing entries
(h) Bank Reconciliation Statements
2. Accounting for Special Transactions
(a) Bills of Exchange (excluding accommodation bill, insolvency)
(b) Consignment (cost price, invoice price, commission & valuation of stock)
(c) Joint Venture
3. Preparation of Final Accounts:
(a) Of a Profit making concern (for sole proprietorship concern only)
(i) Accounting treatment of bad debts, reserve for bad and doubtful debts, provision for
discount on debtors and provision for discount on creditors.
(ii) Preparation of Trading Account, Profit & Loss Account and Balance Sheet.
(b) Of a Not-for- Profit making concern
(i) Preparation of Receipts and Payments Account
(ii) Preparation of Income and Expenditure Account
SECTION B: FUNDAMENTALS OF COST ACCOUNTING [20 MARKS]
4. Fundamentals of Cost Accounting
(a) Meaning, Definition, Significance of Cost Accounting, its relationship with Financial
Accounting & Management Accounting.
(b) Classification of Costs
(c) Format of Cost Sheet.
PAPER 3: FUNDAMENTALS OF LAWS AND ETHICS (FLE)
Section A: Fundamentals of Commercial Laws 70%
1. Indian Contracts Act, 1872 40%
2. Sale of Goods Act, 1930 20%
3. Negotiable Instruments Act,1881 10%
Section B: Fundamentals of Ethics 30%
4. Ethics and Business 30%
SECTION A: FUNDAMENTALS OF COMMERCIAL LAWS [70 MARKS]
1. Indian Contracts Act, 1872
(a) Essential elements of a contract, offer and acceptance
(b) Void and voidable agreements
(c) Consideration, legality of object and consideration
(d) Capacity of Parties, free consent
(e) Quasi-contracts, Contingent contracts
(f) Performance of contracts
(g) Discharge of contracts
(h) Breach of Contract and Remedies for Breach of Contract
2. Sale of Goods Act, 1930
(a) Definition
(b) Transfer of ownership
(c) Conditions and Warranties
(d) Performance of the Contract of Sale
(e) Rights of Unpaid Vendor
(f) Auction Sales
3. Negotiable Instruments Act, 1881
(a) Negotiable Instruments–Characteristics of Negotiable Instruments
(b) Definitions of Promissory Note, Bill of Exchange and Cheque
(c) Difference between Promissory Note, Bill of Exchange and Cheque
(d) Crossing – Meaning, Definition and Types of Crossing.
SECTION B: FUNDAMENTALS OF ETHICS [30 MARKS]
4. Ethics and Business
(a) Ethics – Meaning, Importance
(b) The “Seven Principles of Public Life” – Selflessness, Integrity, Objectivity, Accountability,
Openness, Honesty and Leadership
(c) The relationship between Ethics and Law
(d) Ethics in Business
PAPER 4: FUNDAMENTALS OF BUSINESS MATHEMATICS AND STATISTICS (FBMS)
Section A: Fundamentals of Business Mathematics 40%
1. Arithmetic 20%
2. Algebra 20%
Section B: Fundamentals of Business Statistics 60%
3. Statistical representation of Data 10%
4. Measures of Central Tendency and
Dispersion
30%
5. Correlation and Regression 10%
6. Probability 10%
SECTION A: FUNDAMENTALS OF BUSINESS MATHEMATICS [40 MARKS]
1. Arithmetic
(a) Ratios, Variations and Proportions
(b) Simple and Compound Interest
(c) Arithmetic Progression and Geometric Progression
2. Algebra
(a) Set Theory
(b) Indices and Logarithms (basic concepts)
(c) Permutation and Combinations (basic concepts)
(d) Quadratic Equations (basic concepts)
SECTION B: FUNDAMENTALS OF BUSINESS STATISTICS [60 MARKS]
3. Statistical Representation of Data
(a) Diagrammatic representation of data
(b) Frequency distribution
(c) Graphical representation of Frequency Distribution – Histogram, Frequency Polygon Curve,
Ogive, Pie-chart
4. Measures of Central Tendency and Dispersion
(a) Mean, Median, Mode, Mean Deviation
(b) Range, Quartiles and Quartile Deviation
(c) Standard Deviation
(d) Co-efficient of Variation
(e) Karl Pearson and Bowley’s Co-efficient of Skewness
5. Correlation and Regression
(a) Scatter diagram
(b) Karl Pearson’s Coefficient of Correlation
(c) Regression lines, Regression equations, Regression coefficients
6. Probability
(a) Independent and dependent events; Mutually exclusive events
(b) Total and Compound Probability; Baye’s theorem; Mathematical Expectation
PAPER 5: FINANCIAL ACCOUNTING (FAC)
Section A : Accounting – Basics 25%
1. Fundamentals of Accounting
2. Accounting for Special Transactions
Section B : Preparation of Financial Statements 40%
3. Preparation of Final Accounts of Profit Oriented organizations, Non-Profit Organizations
and from Incomplete Records
4. Partnership Accounts
Section C : Self Balancing Ledgers, Royalties, Hire Purchase & Installment System, Branch &
Departmental Accounts 20%
5. Self-Balancing Ledgers
6. Royalties, Hire-Purchase and Installment System
7. Branch and Departmental Accounts
Section D : Accounting in Computerised Environment and Accounting Standards 15%
8. Overview of Computerised Accounting
9. Accounting Standards (Specified only)
SECTION A: ACCOUNTING – BASICS [25 MARKS]
1. Fundamentals of Accounting
Accounting – Meaning, Scope and Significance of Accounting – Accounting
Principles,Concepts and Conventions – Capital and Revenue Transactions – Depreciation –
Rectification of Errors.
2. Accounting for Special Transations
Bill of Exchange – Consignment – Joint Venture – Insurance Claims (Loss of Stock and Loss of
Profit).
SECTION B: PREPARATION OF FINANCIAL STATEMENTS [40 MARKS]
3. Preparation of Final Accounts of Profit Oriented Organizations, Non- Profit Organizations and
from Incomplete Records
(i) Preparation of Financial Statements of Profit Oriented organizations: P&L Account,
Balance Sheet.
(ii) Preparation of Financial Statements of Non-Profit making organizations: Preparaton of
Receipts & Payments Account, Income & Expenditure Account and Balance Sheet.
(iii) Preparation of Financial Statements from Incomplete records (Single Entry)
4. Partnership Accounts
Admission, Retirement, Death, Treatment of Joint Life Policy, Dissolution of partnership firms
including piece meal distribution, Amalgamation of partnership firms, Conversion of
partnership firm into a company and sale of partnership firm to a company.
SECTION C : SELF BALANCING LEDGERS, ROYALTIES, HIRE PURCHASE & INSTALLMENT SYSTEM,BRANCH & DEPARTMENTAL ACCOUNTS [20 MARKS]
5. Self-Balancing Ledger
6. Royalty Accounts, Hire Purchase and Installment System
7. Branch and Departmental Accounts
SECTION D: ACCOUNTING IN COMPUTERIZED ENVIRONMENT AND ACCOUNTING STANDARDS
[15 MARKS]
8. Computerized Accounting System – Features, Significance, Grouping of Accounts, Ledger
hierarchy, Accounting Packages and their selection criteria
9. Accounting Standards
(AS-1, AS-2, AS-7, AS-9, AS-6 and AS-10 has been replaced by revised AS - 10)
PAPER 6: LAWS AND ETHICS (LNE)
Section A : Commercial Laws 30%
1. Laws of Contracts (Advanced level)
2. Laws relating to Sale of Goods (Advanced level)
3. Negotiable Instruments Act,1881 (Advanced Level)
4. Indian Partnership Act, 1932
5. Limited Liability Partnership Act, 2008
Section B : Industrial Laws 25%
6. Factories Act, 1948
7. Payment of Gratuity Act, 1972
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