Paper-V Financial Accounting, Management & Analysis

 Accounting Theory and Practice.

1. Definition of Accounting – Need for Accounting Art vs Science-Scope of
Accounting, Relationship Accounting with other disciplines, History of
Accounting Systems.
2. Structure of Accounting Theory: Conceptual Framework, objectives,
Approaches. Assumptions Concept of Conventions, Indian Standards.
Generally Accepted Accounting Principles.
3. Human Resources Accounting: Need and Development-Concepts and
objectives. Methods of Valuation ( Human Resources, Historical Cost
Approach, Replacement Cost Approach and Opportunity concept approach.
The Benefits of Human Resources Accounting, Problems and Limitations of
Human Resources Accounting — Merits and Limitations of Human Resources
Accounting, Indian Scene- Case Studies
4. Accounting for Price Level Changes: Price Level Change and Financial
Statements, Current purchasing power accounting Current Cost Accounting-
Specific and General Price Level Accounting-Merits and Limitations of
Accounting Price level changes.
5. Emerging Reporting Issues: Brand Accounting-Accounting for Intangibles-
Value Added Accounting, XBRL Social Accounting Environmental Reporting.
6. Financial Management and Analysis.
7. Capital Cost: Cost of Equity-Stock, & Long term Debts, Cost of Short, Term
Borrowing, Capital marketing Hypothesis: Derivation of sharpe Lintner Model
Empirical Evaluation of the Model.
8. Capital Structure Hypothesis: Traditional proposition Ws Modiglani
Proposition, Empirical Evaluation of prepositions-Dividend policy Decisions,
Factors Affecting Dividend Policy-Traditional Proposition Vs Modiglani
Proposition, Empirical Evaluation of prepositions-Dividend policy Decisions,
Factors Affecting Dividend Policy-Traditional Proposition Vs M Hypothesis-
Empirical Evaluation of Different Hypothesis Types of Dividend policies
9. Working Capital Management: Optimal Investment in Short Term Assets like
inventory Debtors-Securities and Cash-Determination of optimal sources of
Funds
10. Financial Management of Multi-national corporations: Factors peculiar to
Multi-national decisions Areas Working Capital Management Accounting0-
Capital Budgeting-Capital Structure and Dividend polities.
11. Mergers and Acquisitions: Types of Characteristics-Valuation-Deed
Structuring-Managerial Strategies Regulation-Environment.
12. Personal Financial Planning
13. Financial Planning Process: Setting goals, informal budget preparation
— investment opportunity financial Vs physical investments — role of
financial planning
14. Savings Plans: setting goals savings instruments-setting up a savings
plan-Tax saving schemes.
15. Investment plans: setting goals-investment vehicles-investment risk-
developing an investment strategy.
16. Planning for retirement: setting goals-savings and investment plans for
retirement-pension plans-annuity plans-social security schemes.
17. Protecting against Life Financial Risks: Insurance planning-risk
management and insurance-features of insurance-product profile of life and
non-life insurance policies-tax benefits
[Link] Management Accounting:
1. Operations Research for Management Accountants: Matrix Algebra-Addition-
subtraction-Multiplication and Inverse of Matrices-types of Matrices-linear
programming-graphic approach and complex method two phase method.
2. Duality and dual simplex method-additional construction-additional variables
3. Integer programming-quadratic programming
4. Non-linear programming-quadratic programming
5. Transportation models, simulation
 6. Marginal Costing and Decision making: Introduction-meaning-terminology-
scope & concepts-cost behaviour analysis-break even analysis-approaches of
break even analysis-break analysis in relation to cost and revenue factors-
multi-product break even analysis-assumptions underlying break even
analysis-limitations of breakeven analysis
7. Contribution concepts and short-term profitability analysis: profitability
analysis under constrained conditions-profit-volume ratio and its uses-profits
volume S graphs.
8. Marginal costing and Managerial Decisions: Profit planning-pricing decision
production decision make and buy decision joint and by-product decision-
distribution cost analysis
9. Direct Costing: Meaning-importance and preparation of Income statements-
comparison with absorption cost-arguments in favor of direct costing-criticism
of direct costing
10. Value Analysis and value engineering: Basic concepts of value-
constitution of a value analysis team procedures underlying value analysis
study-benefits from and resistance to value analysis study-reporting to
management- objectives of reporting-reporting needs of different
management levels-types of reports general principles of reporting-modes of
reporting-reports to the board of directors-reports to top management-
reporting to top divisional management-reports to junior management level-
preparation of reports-use of reports by management.
 Financial Strategies.
Introduction: The role of government, securities markets, financial institutions,
ownership structure, contractive devices, introduction, Government laws and
regulations, securities markets, ownership structure, board oversight. Financial
institutions. contracting devices.

1. Financial policies and strategies: Introduction, agent conflicts in industry

setting, dynamics of asset liquidity and optimal leverages in industry, industry
competition and financial strategies joint ventures and strategic alliances
2. Firm Environment, Government, Strategy. Operations and financial structure:
Introduction, Firms business environment, internal governances structure and
business strategy, operational structure, financial structure, firm
performance. Risks and contingencies. Empirical analysis of risk.
3. Private Equity and Venture Capital: Introduction, rudiments of valuing and
financing venture, stages of venture development and financing, venture
capital firms (VCS). Roles of staging and VC monitoring in agent in conflicts
4. Initial Public Offerings and Seasoned Equity Offerings: Introduction. Staying of
private Vs Going public. IPO process, Characteristics of IPO firms and their
offerings. The post-IPO performance of stock, Unit IPOs, Process of issuing
seasoned equities, Determinants of underwriter spread in SEO. Theory and
evidence of valuation effect of SEO, other issues related to SEO’S

Paper-VI Principles of Management, Organization Behavior, Training & Development

 Management Concepts and Theories.

1. Management:- Definition, nature and scope of management, functions of
management — evolution of management theories from Taylor. Fayol to the
present. Schools of Management Thought. Evolution of professional
management in India. ethics management.
2. Managerial Planning — definition of planning, planning process, types of
plans, strategic Vs operational plans, models of strategy formulation, linking
strategy to making decision — decision models, creativity and group decision-
making.
3. Organizational theories and design, principles of co-ordination, authority,
power, delegation and decentralization — organizational change and
development styles.
4. Motivation —definition — theories and models of motivation concept of
achievement motivation. Leadership — definition. theories of leadership
concept of leadership and management styles.
5. Managerial Control, relationship between planning and control limitations of
control, types of control systems and techniques — management by
exception, budgetary control — zero level budgeting — functioning and
dysfunctional aspects of budgetary control, internal control system, internal
audit and management audit.
6. Management by Objectives(MBO), Management by exception(MBE) and
Management by Crisis(MBC), its process, benefits and limitations (MBO. MBE)
 Human Resources Management.
1. Human Resources Management: HRD and Personal Functions, Redefined role
and responsibilities of HR managers, sub-system of HRM and HRD. HR
functions and policies, Organization for HRM. Development of HRM in India.
Recent trends in HRM, Impact of globalization on HRM, Role of HRM in IT
sector.
2. HR Planning. Recruitment and Selection: HRD at different levels, Job
description. Sourcing, Tests Interviews, induction and Orientation, Training -
Methods of training, training manual training under ISO and QS certification,
supervisory, Executive and Management development programs, Career
development
3. Performance Management: Job analysis. job evaluation, KRA & KPAs
Traditional Vs Modem methods of performance management. Potential
appraisal. Feedback system.
4. Compensation Planning: Wages and salary, Administration, perks fringe
benefits, bonus, incentives, compensation surveys productivity, performance
linked pay structure, compensation review and structuring.
5. Industrial relations: trade unions. industrial disputes and settlements,
Grievances handling, disciplinary procedures, suspension dismissal domestic
enquiry legal formalities, layoff, retrenchment, closure VRS Health and safety.
 Training & Development.
1. Training: Introduction. Importance of training. Advantages of training,
Training Challenges, Changing workplace and workforce, Training as a sub
system of HRD, Learning environment, Instructional design. Learning
outcomes, Feedback, conditions of transfer, converting training objectives to
training plan
2. Assessing Training Needs: Methods of ascertaining training needs,
Organizational support to TNA. Organizational analysis – specifying goals,
Identifying constraints. Resources analysis Learning principles, training
enhancement, Training characteristics.
3. Training Delivery: Traditional Vs Modern methods, SLDP, simulated work
settings. DLP, CD ROM. Interactive Multimedia. Web-based instructions,
intelligent Training enhancement Systems (ITS). virtual reality training (VRT)
4. Training evaluation: Criteria, Evaluation of criteria, Dimensions of criteria, use
of experimental designs, quasi experimental designs, utility conservations.
individual difference models, content validity model, statistical method
5. Training Interventions: Learning experience and building of organization
capacity. Employee capability, apprenticeship. vestibule, embedded training
team building cross and inter-positional training, leadership training.
 Organization and Behavior.
1. Fundamentals Organization – Nature of people and organizations, forces
affecting organizational behavior. Changing work force and employment
relations. Impact of globalization and Information technology on
organizational behavior, organizational climate and culture.
2. Individual differences – perceptions, interests, aptitude, attitude, theories of
personality c. Learning – theories of learning expectations and appreciative
modules of learning, learning organizations and organizational change –
resistance to change and change agents. Designing organizations for
effectiveness.
3. Groups and Group Dynamics. Group behavior, group dynamics theories and
group cohesiveness – group decision making process, understanding work
teams. team vs groups, team development ingredients of effective teams,
team life cycle, interpersonal skills – johari windows and translational
analysis.
4. Stress Management- job satisfaction, designing effective jobs, jobs. rotation,
enrichment, enlargement and reengineering work process, sources of stress,
fatigue and its impbct on productivity. Employee counseling.
 Marketing Management.
1. Introduction to Marketing Management: Nature of marketing management
types of products/services that can be marketed Organization of marketing
functions. Marketing concepts: Product, production, selling marketing and
societal and marketing differences, marketing environment – micro and
macro environment
2. Market segmentation and Targeting: Concept of segmentation and targeting,
Basics for segmentation, Segmentation for consumer and industrial products,
Product positioning, consumer and business buyer behavior and buying roles,
buying process, model
3. Market Mix: Elements – product, prices, promotion, distribution, product, mix
and product line – levels of product, new product development, product life
cycles strategies, branding, packing. labeling pricing – General pricing
approaches, New product pricing strategies. Public policy and pricing.
4. Promotion and place mix – components of promotion mix, marketing
communication, publicity, Advertising and public relations, personal selling
and sales promotion, direct and online marketing, Distribution channels and
logistics management, channel design and administration, public policy and
distribution and decisions.
5. Marketing Information System: Concepts of marketing information system,
Marketing research [Link] intelligence system, components of
marketing information systems – Internal records system -Marketing decision
support system.
 Inventory Management and Analysis.
1. Corporate objectives: Various propositions on corporate objectives-derivation
of plausible definition of the objective of the corporation
2. Capital Budgeting decisions under certainty: traditional techniques -DCF
criteria-reinvestment considerations paradox of multiple IRR’s Mathematical
programming and selection of capital projects under capital rationing
3. Analysis of capital budgeting decision under uncertainty: uncertainty and
probabilities: statistical parameters of NPV- statistical parameters of project
combinations.
4. Evaluation of capital budgeting decisions under uncertainty: expected utility
hypothesis-mean variance hypothesis
5. Portfolio theory: markowitz model-sharpe’s diagonal model-programming
model for selection of capital portfolios.
 Entrepreneurship Development & Project Management.
1. Project Management: Definition of basic concepts. project planning and
management, principles of project management. Project lifecycle, Idea
generation, Feasibility studies, Scope management and implementation as
per project management body of knowledge handbook of project
management institute (PMI).
2. Project Planning: Project integration management – Project plan, Execution,
Change control. Project scope management- Initiation, Planning, Scope
definition. Verification, Scope change control, Project time management
Activity definition, Sequencing. Duration estimating. Scheduling and
Controlling, Project cost management. Project quality management, Project
human resource management, Project risk management, Project procurement
management.
3. Project Monitoring Evaluation and Control: Project network techniques.
Planning for monitoring and evaluation Project organization, Project audits,
 Project management information system, Project scheduling, PERT and CPM,
Project communication, Post-project reviews. Closing the Project.
4. Entrepreneurship: Role of entrepreneurs in economic development. Factors
contributing to the growth of entrepreneurship. Entrepreneurship
development in India. Family managed businesses and now generation
entrepreneurs in India, Case studies of successful entrepreneurs in India.
5. Promoting Entrepreneurship: Institutional arrangement for promoting
entrepreneurship in India – Venture capital support provided by various
venture capital firms, Role of NSIC, SIDBI, SISI and other institutions, Role of
State governments in promoting entrepreneurship, Problems in transfer of
technology developed by R&D institutions and Universities in India.
Paper-VII Corporate Finance, Business Economic & Taxation

 Corporate Finance.
1. Goal of the firm: Profit maximization V/s wealth maximization. value creation,
Agency problems. Social responsibility. Role of financial management, Time
value of money, valuation of securities. stock and bonds, concepts of risk and
returns of securities, using probability distribution of measure risk. risk and
return in portfolio context. Introduction to capital assets pricing model (CAPM)
and arbitrage pricing theory (APT)
2. Basics of Capital Budgeting: Evaluating cash flows-initial intermediate and
terminal cash flows on incremental basis, capital budgeting decision rules,
payback, ARR. DCF techniques NVP. IRR, PI.
3. Cost of capital: Cost of debt, preferred stock, equity computation, WACC : The
CPAM approach Adjusting WACC for risk, long term financing, public issue of
debt, preferred stock and common stock. Term loans
4. Capital Structure Theories: Traditional view Vs MM hypothesis, MM position I &
11, Miller s position capital structure designing in practice – EBIT, EPS
analysis, Dividend decision Relevance Vs irrelevance of dividends
5. Working Capital Management and Finance: Cash management Receivables
management and inventor/ management. Working capital finance in India.
 Business Management.
1. Business as a social system, internal and external environment of business on
India, role of government in economic activities and its impact on business.
Business ethics and corporate social responsibility. Issues in corporate
governance.
2. Economic structure of India – Economic planning in India transaction from
mixed economy to a market economy. Outline of public and private sectors,
characteristics of industrial, service and agricultural sectors, regional and
sectorial imbalances, dualism trends in GDP.
3. Monetary and fiscal system of India – The role of RBI in regulating banking
sector. Indian financial system – money market and capital markets- stock
exchanges and stock market reforms in India. Industrial finance in India –
stock market reforms in India. Role of development financial institutions and
commercial banks and NBFC’s financing of experts and imports EXIM and
ECGC Issued in taxation of government expenditure — FRBM Act, the problem
of fiscal deficit.
4. Indian society, culture and politics. Major social problems of India, Impact of
modernization on Indian society. demography. gender, environmental issues.
5. International Business environment — India as a player in the international
market place — its position and Prospects, issues in intellectual property
Rights(IPR) affecting Indian’s trade, the role of multi-national companies in
India. FDI in India and Indian investment in foreign countries.
 Business Law and Practice.
1. Outlines of Laws: Pertaining to regulation of Industries: IDRA Act, Competition
Act. Price and Distribution Controls. Insurance Regulation and Development
Authority RDA, Telephone Regulatory Authority of India (TRAI)
2. Company Law: Outline of India Companies Act of 1956 pertaining to
incorporation. Management and administration and liquidation. Filing of
returns, Remedies against mismanagement and oppression. Powers of
 investigation by the Government, issues relating to good corporate
governance, recent amendments to corporate governance.
3. Patents and Trademarks Act. issues of intellectual property rights and cyber
laws, foreign Exchange Management(FEMA)
4. Security Market Laws: outlines of security and exchange board of India Act
(SEBI), Securities contract act, Laws pertaining to stock exchanges, SARFESI
Act
5. Environmental Protection Act: Law relating to environmental pollution, Role of
pollution control boards, consumer protection act of 1986. consumer forums,
consumerism in India
 Business Economics.
1. Macro Economics: Introduction, macro economics and its interfaces with
business and industry, resources and goals of economic systems. free market
and mixed economy, national Income concept, computation of national
income and expenditure method, problems of computation of national
income.
2. Consumption Function: Consumption, savings. investment, marginal
propensity to consume, marginal propensity to save, multiplier, paradox of
thrift, income and employment determination
3. Investment Function: Introduction the marginal efficiency of capital, marginal
efficiency of capital and the rate of interest. factors influencing marginal
efficiency of capital — measures to stimulate private investment, pathic
investment. theories of interest
4. Concepts of Multiplier- Income on investment multiplier, uses of multiplier,
leakages in Income stream and their effect on the multiplier. Acceleration
concept working of acceleration, limitations of acceleration
5. Money. monetary system, role of credit, financial intermediaries, interest and
macro economic equilibrium, central bank, monetary management and
policy, fiscal policy and the public debt, co-ordination of monetary and fiscal
policies
6. Economic growth, factors determining economic growth. growth models.
capital output ratio, problems of growth. Policies towards economic stability,
business cycle. inflation and deflation, control measures, conflicts between
growth and stability
7. Public Finance — Distinction between public finance and private finance —
importance of public finance — role of public finance in developed countries
— Indian public finance —revenues and income of central government —
budget of central government
8. Balance of payments — meaning — balance of trade and balance of
payments, structure of BOPs: meaning of disequilibrium of BOPs
9. Foreign Exchange — Determination of exchange rate-fixed Vs Floating —
Appreciation Vs Depreciation. revaluation and devaluation forex reserves-
components of forex reserves.

 Advanced Business Taxation.

1. Indian Tax system: Functions of Government-public expenditure-taxation0-
shifting and incidence of direct and indirect taxes-progressive taxation
2. Taxation in India: constitutional provisions relating to the taxation powers of
the union-state and local government-tax reforms committees of center and
state governments-finance commissions
3. Direct tax: Income tax-wealth tax-gift tax-expenditure tax-fringe benefits tax
4. Indirect tax: union excise duty-customs duty-central sales tax and service tax
5. State Government tax: value added tax-tax in profession-tax on motor
vehicles and transportation-tax on advertisement-entertainment and
amusement tax-tax on betting and gambling-tax on electricity-tax on
agricultural income and land revenue
6. Corporate Tax law and planning: Introduction-taxation of companies-definition
of companies-residential status of company-relationship between residential
status and incidence of tax
 7. Computation of taxable income of companies under different heads of
income: house property-profit and gains from business or profession-capital
gains-income from other sources
8. Computing tax liability of companies: Deductions from Gross total income-set
off and carry forward of losses. Minimum alternate tax
9. Tax planning: Tax avoidance tax evasion-tax planning with reference to
setting up a new business-location of business nature of business-form of
organizations. Managerial decisions-+amalgamation or de-merger
10. Procedure for Assessment: Return-tax deduction at Source-Advance
payment of tax-interest refunds-appeals and revision-penalties and
prosecutions-wealth tax on companies
Paper-VIII Principles and Practice of Auditing, Computer Concepts & e-Commerce

 Principles and Practice of Auditing.

1. Introduction-Meaning and Definition of Auditing-Branches of Auditing-Qualities
of an Auditor. Objectives of Auditing- Advantages of Auditing-Types of Audit
Program-Audit Report-Appointment-Qualification-Disqualification-Rights and
Duties of Company Auditor
2. Internal Check-Meaning and Objectives-Vouching-Meaning and Importance-
Vouching of Cash transactions
3. Verification and valuation of Assets & liabilitiesd. Use of Different
Organizations-Sole Trader-partnership firm-co-operative societies-Educational
Institutions
4. Audit under computerized environment (uses and constraints of computerized
audit)
 Computer Fundamental Concepts.
1. Introduction, Spreadsheet Financial Functions and Statistical Functions,
Depreciation-leasing-company valuation, cash flow forecasting models.
2. Operations research problems: linear-Non-linear Integer programming
transportation-queuing and inventory models
3. Managerial Accounting: Break even analysis-portfolio Analysis-standard
costing variance Analysis, cost of Capital bonds, Risk Management
4. Project Management tools
5. Stock analysis
 E-Commerce.
1. Introduction to e-commerce and e-business, traditional business and e-
business, e-commerce models, web auctions, virtual communities, portals, e-
business revenue models
2. Web server hardware and software-software for web servers, website and
internet utility programs. web server hardware, web hosting choices-
electronic commerce software
3. Customer effective web design, e0marketing, e-advertising, e-CRM,
Technology for e-CRM, EDt-Business applications for EDI-Computer crimes,
legal issues, IT act 2006
4. Security threats-an area view-implementing e-commerce security-protecting
client computer, e-commerce communication channels and web servers
encryption. SSL protocol, Firewalls, Electronic Payment Systems.
 Management Information Systems.
1. Basic Concepts: Data Vs Information, Strategic role of information in
management, Organization as an information system, Gory Scott, Morton
Grid, types of information systems, TPS, MIS, DSS, ESS, OA.
2. Processing Technology: Evolution of processing technology, Batch processing.
Multiprocessing, Networking concepts, Telecommunication networks.
3. Systems Development: The concept of systems development life cycle
(SDLC). Use of flow charts and entity relationship diagrams. Exercises in
SDLC.
4. Application Technologies: ERP concepts, Evolution of ERP. Present ERP
packages. SAP, Bean, MFG-PRO Oracle. ERP Evaluation. ERP and BPR, ERP
Implementation, Case studies (ERP).
5. Web publishing: Web publishing. Types of websites, Web surfing, Toofs. Ms-
Frontpage. Designing website, Ecommerce. B2B, B2C. E-commerce security
issues, Ethical issues, Cyber laws.