sure success in c.a

7/31/2019 sure success in c.a.

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Sure Success in C.A.

CA- The distinguishing

characteristic of the

profession is itsunchallenged right

to provide assurance

concerning the

reliability offinancial statements

to external parties.


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Yes, only ifyou areconfident.

Believe in yourself.


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Dos for success:

Be Professional Know your objective

Plan your study

Follow the plan Always ask why

Take at least one mockexam


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Donts for success:

Dont try to Mug up Dont skip any part of

syllabus

Dont focus on answer,focus on question.


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Final - Group 1

Paper 1: Advanced Accounting

(One paper - Three hours - 100 marks)

Level of Knowledge: Expert knowledge. Objectives :

a) To gain comprehensive understanding of allaspects relating to external financial reporting

practices.b) To gain expert knowledge of the professionalstandards, principles and procedures ofaccounting, and their application to differentpractical situations.


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Value-added statement. Economic value - added statement Corporate social reporting. Human resource accounting. Accounting for Intangible Assets Accounting for Financial Instruments. Environmental accounting

9. Valuation of goodwill and shares.10. Comparative study of basic concepts of international

accounting standards, US GAAP and standards in India.


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Paper 2: Management Accounting

and Financial Analysis


Level of Knowledge :Expert knowledge. Objectives :

a) To gain expert knowledge in respect of managementaccounting, financial planning and financial services

sector in terms of products, procedures, markets andregulatory framework.b) To understand the issues involved in and the features

of financial management in the global context.


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Contents :

1. Project planning and capital budgeting: preparation of projectreport; financial projections; sensitivity analysis in capitalbudgeting; Impact of inflation on capital budgeting decisions,capital rationing, risk analysis in capital budgeting and

evaluation of risky investments; social cost-benefit analysis;simulation and decision tree analysis.2. (a) Types of financing: project financing; intermediate and long-

term financing; negotiating term loans with banks and financialinstitutions; appraisal of term loans by financial institutions inIndia, lease financing.

(b) Special problems relating to Financing and Management ofsmall and medium enterprises.3. (a) Introduction to capital market in India including

depositories.(b) Introduction to capital market instruments includingoptions (Option Pricing Theory), futures, and derivatives; risk-return relationship, capital asset pricing model (CAPM).


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4. Financial services in India including merchant banking, portfoliomanagement; credit rating agencies, consumer finance.

5. Mutual funds: operations and regulations.6. (a) Business valuations

(b) Mergers, Acquisitions and corporate restructuring7. Foreign collaborations and joint ventures.8. Introduction to international financial management including

raising of capital abroad (ADRs, GDRs, ECB.).9. Foreign exchange exposure and risk management; foreign

exchange markets and dealings therein.10. Money markets and their operations.11. Special Features of Financial Management in Public Sector

Undertakings12. Dividend decisions: dividend policy; its determinants.


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Paper 3: Advanced Auditing(One paper - Three hours - 100 marks)

Level of Knowledge :Expert knowledge. Objective : To gain expert knowledge ofcurrent auditing practices and procedures

and apply them in auditing engagements.


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4. Statements/Standards and Guidance Notes.Generally accepted accounting practices and auditing procedures.Statements on Standard Auditing Practices and Guidance Notes.

5. Audit of limited companies: Statutory requirements under the CompaniesAct 1956; Audit of branches; joint audits. Concepts of true and fair andmateriality and audit risk in the context of audit of companies.

6. Audit reports; qualifications, notes on accounts, distinction betweennotes and qualifications, detailed observations by the statutory auditor tothe management vis-a-vis obligations of reporting to the members; Specialreports on offer documents.

7. Dividends and divisible profits; financial, legal, and policy considerationswith special reference to depreciation.

8. Special points in audit of public sector companies. Directions ofComptroller and Auditor General under Section 619; Concepts ofpropriety and efficiency audit.

9. Rights, duties, and liabilities of auditors; Third party liability - nature andextent.

10. Audit Committees and Corporate Governance.


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11. Investigation including Due Diligence.

12. Cost audit, Environmental Audit, Energy Audit.

13. Audit of public expenditure.

14. Certificates under the Payment of Bonus Act, import/exportcontrol authorities, etc.; Distinction between certificates andreports; specific services to non-audit clients.

15. Audit under different statutes, viz; income tax, other direct taxlaws and indirect taxes.

16. Special features of audit of banks, insurance companies, co-operative societies and non-banking financial companies.

17. Special audit assignments like audit of bank borrowers, audit ofstock exchange brokers and depositories; Inspection of specialentities like banks, financial institutions, mutual funds, stockbrokers.


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18. Professional Liability of Auditors: Code of Ethics with specialreference to the relevant provisions of The Chartered AccountantsAct, 1949 and the Regulations there under.

19. Internal audit, management and operational audit: nature andpurpose, organisation, audit programme; behavioural problems;Specific areas of management and operational audit involvingreview of internal control, purchasing operations, manufacturingoperations, selling and distribution, personnel policies, systemsand procedures. Aspects relating to concurrent audit.

20. Audit under computerised environment: Computer auditing;

specific problems of EDP audit, need for review of internal controlespecially procedure controls and facility controls; techniques ofaudit of EDP output; use of computers for internal and man-agement audit purposes; test packs, computerised auditprogrammes; involvement of the auditor at the time of setting upthe computer system.


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Paper 4: Corporate Laws andSecretarial Practice


Level of Knowledge :Expert knowledge. Objective : To gain expert knowledge of

corporate and other allied laws and secretarialpractices.


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Contents :

1. The Companies Act, 1956 (Section 209 onwards till end).

2. The Foreign Exchange Management Act, 1999.

3. The Monopolies and Restrictive Trade Practices Act, 1969

4. The Sick Industrial Companies (Special Provisions) Act, 1985

5. The Securities Contracts (Regulation) Act, 1956.

6. The Securities and Exchange Board of India Act, 1992, andGuidelines issued there under.

7. Application of Secretarial Procedures and Practices.

8. Rules of interpretation of Statutes, Deeds, and Documents.


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Group - 2

Paper 5 : Cost Management

Level of Knowledge: Expert Knowledge

Objectives :

To gain expert knowledge of :

a) use of costing data for decision-making andcontrol, and

b) emerging modern cost management concepts.


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Contents

1. Cost concepts in decision-making; Relevant cost, Differentialcost, Incremental cost and Opportunity cost.

2. Objectives of a Costing System; Inventory valuation; Creation of aDatabase for operational control; Provision of data for Decision-Making.

3. Marginal Costing; Distinction between Marginal Costing andAbsorption Costing; Break-even Analysis, Cost-Volume-ProfitAnalysis. Various decision-making problems.

4. Standard Costing and Variance Analysis.5.

Pricing strategies: Pareto Analysis6. Target costing, Life Cycle Costing7. Costing of service sector.8. Just-in-time approach, Material Requirement Planning,

Enterprise Resource Planning, Total Quality Management andTheory of constraints.


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9. Activity-Based Cost Management, Bench Marking; BalancedScore Card and Value-Chain Analysis.

10. Budgetary Control; Flexible Budgets; Performance budgets;

Zero-based budgets.11. Measurement of Divisional profitability pricing decisions

including transfer pricing.

12. Quantitative techniques for cost management, LinearProgramming, PERT/CPM, Transportation problems,Assignment problems, Simulation, Learning Curve Theory.


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Paper 6: Management Information

and Control Systems


Level of Knowledge : Expert Knowledge

Objective :To develop the ability of the students

in understanding the concepts involved inmanagerial information and control systems andsystems analysis and in applying the same tobusiness situations.


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Contents:

1. Transaction processing Systems, Shared processing, Client serverand server centric systems.

2. Management Information Systems (MIS), Executive InformationSystems (EIS) and Decision support systems.

3. System development life cycle.4. Systems analysis and design: Tools & Techniques, detailed design

specifications and documentation; system testing; control overdevelopment processes. Implementation of systems: systemsinstallation, system training, system conversion; post-implementation review.

5. System Evaluation - Hardware and Software.6. System Maintenance - Hardware and Software including viruses.7. Computerised systems in Business Applications- financial

accounting, management accounting and inventory control. Use ofspecialised softwares.


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8. Tools: Use of Simple CASE Tools, Analysis of FinancialStatements using Digital Technology.

9. Enterprise Resource Planning (ERP) Packages.

10. Controls applicable to IT development, system maintenance andchangeover.

11. Information security: Importance and principles of informationsecurity, best approaches to implementing information security.

12. Detection of computer frauds.

13. Case Studies.14. Audit of Information systems.

15. Cyber Laws.


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Paper 7 : Direct Taxes


Objectives :

a) To gain expert knowledge of the provisions ofdirect tax laws.

b) To acquire the ability to apply the knowledgeof the provisions of laws to various situationsin actual practice.


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Contents

1. The Income Tax Act, 1961

2. The Wealth Tax Act, 1957

While covering the direct tax laws, students should familiarisethemselves with considerations relevant to tax management.These may include tax considerations with regard to specificmanagement decisions, foreign collaboration agreements,international taxation, amalgamations, tax incentives, personnelcompensation plans, accounting and other precautions to beobserved to maximise tax relief.


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Paper 8 : Indirect Taxes


Objectives :

a) To gain expert knowledge of the principles of theindirect tax laws and the relevant rules and principles

emerging from leading cases.b) To acquire the ability to apply the knowledge of the

provisions of laws to various situations in actualpractice.


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Contents

I. Central Excise Act, 1944 and the related Rules,Central Excise Tariff Act, 1985

1. Nature of excise duty, legislative history, coverage; levy and

collection of excise duties under the Central Excise Act, 1944;legal effects of Notifications, Tariff Advises, Trade Notices.2. Provisions governing manufacture and removal of excisable

goods.Valuation under the Central Excise Act, 1944, Central ExciseValuation (Determination of Price of Excisable Goods) Rules,2000.

3. Classification of goods under Central Excise Tariff Act, 1985,with reference to Rules of Interpretation.4. Assessment including provisional assessment, self-removal

procedure, payment of duty, and rate of duty. Record-basedcontrol and production-based control.

5. Demands and Refunds


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6. Registration procedures.7. Procedure relating to storage of excisable goods, time and

manner of payment of duty and other matters relating toremoval of goods.

8. Maintenance of records, registers, and filing of returns.9. Remission of duty on goods used for special industrial

purposes.10. Procedure for exports, duty draw back.11. Provisions relating to CENVAT.

12. Departmental organisational set-up; adjudication andappellate procedures-Customs, Excise and Gold (Control)Appellate Tribunal, Settlement Commission, AdvanceRulings.

13. Offences and penalties.14. Exemptions for small scale industries.


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II. Customs Act, 1962, and Customs Tariff Act, 19751. Principles governing levy of customs duty, types of duty including

protective duty, safeguard duty, countervailing duty and anti-dumping duty and exemption from customs duties.

2. Basic principles of classification of goods and valuation of goods.3. Customs authorities, appointment of customs ports, warehousing

stations.4. Provisions governing conveyance, importation and exportation of

goods, special provisions regarding baggage, goods imported orexported by post, and stores.

5. Detailed procedure in relation to transportation and warehousing.6. Drawback of customs duties paid.7. Prohibition, search and seizure, adjudication, Appellate remedies

including Settlement Commission and Advance Rulings,prosecution in court of law and allied miscellaneous matters.