Company Accounts, Costs and Management Accounting Syllabus For Company Secretary Executive

Objective  of Company Accounts, Costs and Management Accounting For Company Secretary Executive–Group1–Paper 1

To provide working knowledge of accounting principles and procedures for companies in accordance with the statutory requirements.

To acquaint the students with cost and management accounting techniques and practices.

Part A : Company Accounts (50 Marks)

 

1. Accounting standards – relevance and significance; national and international accounting standards.
2. Accounting for share capital transactions – issue of shares at par, at premium and at discount; forfeiture and re-issue of shares; buy-back of shares; redemption of preference shares; rights issue.
3. Issue of debentures – accounting treatment and procedures; redemption of debentures; conversion of debentures into shares.
4. Underwriting of issues ; acquisition of business ; profits prior to incorporation ; treatment of preliminary expenses.
5. Preparation and presentation of final accounts of joint stock companies as per company law requirements; bonus shares.
6. Holding and subsidiary companies – accounting treatment and disclosures; consolidation of accounts.
7. Valuation of shares and intangible assets.

Part B : Cost And Management Accounting (50 Marks)

8. Cost accounting – objectives of costing system; cost concepts and cost classification; management accounting – nature and scope; role of management accountant, tools and techniques of management accounting; distinction between financial accounting, cost accounting and management accounting.
9. Elements of cost :

(i) Material cost – purchase procedures, store keeping and inventory control, fixing of minimum, maximum and re-order levels, ABC analysis, pricing of receipts and issue of material and accounting thereof; accounting and control of wastage, spoilage and defectives.
(ii) Labour cost – classification of labour costs, payroll procedures, monetary and non–monetary incentive schemes; labour turnover and remedial measures; treatment of idle time and overtime.
(iii) Direct expenses – nature, collection and classification of direct expenses and its treatment.
(iv) Overheads – nature, classification, collection, allocation, apportionment, absorption and control of overheads.
10. Methods of costing – unit costing, contract costing.
11. Budgetary control – preparation of various types of budgets, advantages and limitations; budgetary control reports to management.
12. Marginal costing – application of marginal costing; cost–volume profit relationship; break–even analysis, preparation of break–even charts; profit – volume graph; practical application of profit volume ratio.
13. Analysis and interpretation of financial statements – nature, objectives; latest trends in presenting financial data; importance and limitations; accounting ratios – classification, advantages and limitations.
14. Cash flow statements – classification of cash flows, preparation and usefulness.

Study Materials For Company Accounts, Costs and Management Accounting For Company Secretary Executive–Group1–Paper 1

Title Author Publisher
Advanced Accounts-Vol. II M.C.Shukla, T.S. Grewal & S.C.Gupta S.Chand
Company Accounts R.L.Gupta & M Radhaswamy Sultan Chand
Advanced Accountancy-Vol. II S.P.Jain & K.L.Narang Kalyani Publishers
Corporate Accounting S.N.Maheshwari Vikas Publishing House
Advanced Accounting-Vol. 2 Ashok Sehgal & Deepak Sehgal Taxmann’s
Fundamentals of Corporate Accounting J.R.Monga Mayur Paperbacks
Cost and Management Accounting S.P.Jain & K.L.Narang Kalyani Publishers
Cost and Management Accouning M.N.Arora Himalaya Publishing House
Managmenet Accountaing R.S.N.Piallai Bhagvathi S.Chand
Cost and Management Accounting V.K.Saxena & C.D.Vashist Sultan Chand
A Text Book of Cost and Management Accounting M.N.Arora Vikas Publishing House
Cost and Management Accounting S.N.Maheshwari Sultan Chand
Cost Accounting S.N.Maheswari & S N Mittal shree Mahavir Book Depot
Management Accounting I.M.Pandey Vikas Publishing House
Cost and Management Accounting – A Managerial Emphasis C.T.Horngren Pearson Education

References for Company Accounts, Costs and Management Accounting For Company Secretary Executive–Group1–Paper 1

Title Author Publisher
International Financial Reporting Standards (IFRSs) Taxmann Publication
Indian Accounting Standards & GAPP Dolphy D’Souza Snow White Publications
Compendium of Accounting Standards The Institute of Chartered Accountants of India
Cost and Management Accounting S.P.Lyengar SultanChand
Advanced Management Accounting Ravi M.Kishore Taxmann Publication
Theory and Problems of Management and Cost Accounting M.Y.Khan & P.K.Jain McGraw-Hill Education
Advanced Management Accounting Kaplan & Atkinson Pearson Education
Cost Accounting Principles and Practice B.M.Lall Nigam & I.C. Jain Prentice Hall of India
Management and Cost Accounting Drury Colin International Thomson Business Press
Cost and Management Accounting Duncan Willamson Pearson Education
Managerial Accounting Dominiak & Louderback South Western College, Publishing Company
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