CS Accounting Notes

>> October 29, 2010


Today, I received on Call from a student who is residing in Ajmer (Rajasthan). She is doing Company Secretary course and for her study, she need accounting notes. Like this student, there are lots of other students who are also doing same course also need accounting notes. So, for your help, I am publishing accounting  notes on the basis of this course syllabus.

Recently, I checked CS syllabus 2010, after visiting official site of Institute of Company Secretary of India ( http://www.icsi.edu/ ) . In this CS new syllabus, CS course has been divided in to three major parts. First is Foundation programme, second is executive programme and third is professional programme part. When I studied what is included about accounting in these courses, I found everything about accounting in these parts.

{ Note : I can't write everything about CS accounting in one page but here, I am including internal links of pages which will be helpful for you for reading and collecting  everything about accounting. If there is no internal link, it means either, I have to publish content or I have not to update}

1. Foundation Programme
PAPER 3 : FINANCIAL ACCOUNTING
Level of knowledge : Basic knowledge

Objective : To familiarize and develop an understanding the skills of
accounting principles for effective recording of business operations of
an entity.
Detailed Contents :
1. Introduction to accounting
2. Recording of transactions
3. Preparation of bank reconciliation statement
4. Rectification of errors
5. Preparation of final accounts (non-corporate entities)
6. Accounting for depreciation
7. Accounting for bills of exchange
8. Accounts of non-profit organizations
9. Single entry accounts
10.Preparation of accounts from Incomplete records
11. Accounting for consignments
12.  joint ventures
13. Partnership accounts – simple problems
14. Insurance claims
2. Executive Programme
PAPER 2 : COMPANY ACCOUNTS, COST AND MANAGEMENT
ACCOUNTING
Level of knowledge : Working knowledge.

Objectives :

(i) To provide working knowledge of accounting principles and
procedures for companies in accordance with the statutory
requirements.
(ii) To acquaint the students with cost and management
accounting techniques and practices.
Detailed contents :
Part A : Company Accounts (50 Marks)
1.  Accounting standards - relevance and significance
2.  National and;  international accounting standards
3.  Accounting for share capital transactions
4.  Issue of shares at parat premium and at discount
5.  Forfeiture and re-issue of shares
6.  Buy-back of shares
7.  Redemption of preference shares
8. Journal Entries of Redemption of Preference Shares
9.  Rights issue
10.  Issue of debentures - accounting treatment and procedures
11. Redemption of debentures
12. Conversion of debentures into shares
13. Underwriting of issues
14.  Acquisition of business 
15.  Profits prior to incorporation 
16.  Treatment of preliminary expenses
17. Preparation and presentation of final accounts of joint stock companies as per law
18. Bonus shares
19. Holding subsidiary companies - accounting treatment and
disclosures; consolidation of accounts
20. Valuation of shares & intangible assets
Part B : Cost And Management Accounting (50 Marks)
1.  Cost accounting & objectives 
2.  Costing system
3.  Cost concepts
4.  Cost classification
5.  Management accounting
6.  Nature and scope of Management Accounting
7.  Role of management accountant
8.  Tools and techniques of management accounting
9.  Distinction between financial accounting and cost accounting
10. Distinction between financial accounting and management accounting
11. Elements of cost
12. Material cost
13. Purchase procedures
14. Store keeping
15. Inventory control
16. Fixing of minimum, maximum and Re-order levels
17. ABC analysis
18. Pricing of receipts
19. Issue of material and its accounting
20. Accounting and control of wastage, spoilage and defectives
21.  Labour cost 
22. Classification of labour costs
23. Payroll procedures
24. Monetary and non-monetary incentive schemes
25. Labour turnover and remedial measures
26. Treatment of idle time and overtime.
27. Direct expenses
28. Nature, collection and classification of direct expenses
29. Accounting Treatment of Direct Expenses
30. Overheads 
31. Nature, classification and collection of Overheads
32. Allocation, apportionment, absorption and control of overheads
3. Professional Programme
PAPER 3 : FINANCIAL, TREASURY AND FOREX
MANAGEMENT
Level of knowledge : Expert knowledge.

Objectives :

(i) To provide conceptual clarity about the management tools
and techniques used in financial planning, analysis, control
and decision making.
(ii) To provide knowledge of derivatives, forex and treasury
management to enable the candidates to tackle practical
situation with ease.
Detailed contents :
(A) Financial Management
1. Financial Management Basics


2. Capital Budgeting Decisions


3. Capital Structure Decisions


4. Sources of Finance


5. Dividend Policy

  • Dividend 
  • Types of Dividend
  • Meaning of Dividend Policy
  •  Determinants of Dividend Policy
  • Constraints of Dividend Policy
  • Different dividend theories
  • Walter’s Model
  •  Gordon’s Model
  • Modigliani-Miller Hypothesis of dividend irrelevance
  • Forms of dividend;
  • Practical considerations of dividend policy
  • Legal constraints of Dividend Policy
  • Corporate dividend practices in India; statutory framework

 6. Working Capital Management and Control


7. Security Analysis and Portfolio Management

  •   Security analysis
  •   Fundamental approach, technical approach of Capital Market
  •  Efficient capital market theory
  •   Portfolio management - meaning,
  •  Objectives of Portfolio Management
  •  Portfolio theory – traditional approach; modern approach
  •  CAPM model.

8. Financial Services


  •  Meaning of financial services
  •  Significance of financial services
  •  Scope of financial services
  •  Types of financial services
  •  Merchant banking,
  •  Leasing and hire purchase
  •  Venture capital
  •  Mutual funds
  •  Factoring and forfeiting
  •  Securitization of debt
  •  Loan syndication
  •  Custodial and corporate advisory services
  •  Credit rating

9. Project Planning and Control

  •  Meaning of Project Planning 
  • Preparation of project report;
  •  Project appraisal
  •  Under normal, inflationary and deflationary conditions
  •  Project appraisal by financial institutions
  •   Lending policies
  •  Appraisal norms by financial institutions and banks;
  •  Loan documentation
  •  Loan syndication
  •  Project review and control; 
  • Social cost and benefit analysis of project

10. Derivatives and Commodity Exchanges

  •  Concept of derivatives
  •   Financial derivatives
  •  Commodity derivatives
  •  Types of derivatives
  •   Forward contracts
  •  Futures contracts
  •  Options
  •  Participants in futures and options market
  •   Index based derivatives
  •  Security based derivatives;
  •  Derivatives and exposure management
  • Currency forwards
  • Currency futures
  • Currency options
  •  Currency swaps
  •  Interest rate risk management
  •  Derivative markets in India
  •  Commodity exchanges in India
(B) Treasury Management
1.  Meaning of  Treasury Management
2.  Functions of Treasury Management
3.  Objectives of Treasury Management
4.  Scope of Treasury Management
5.  Relationship between TM and FM
6.  Role and responsibilities of chief finance executive
7.  Tools of treasury management
8.  Internal treasury controls
9.  Environment for treasury management
10. Role of information technology in treasury management
11. Liquidity management
12. Regulation, supervision and control of treasury operations
13. Implications of treasury on international banking
14. Recent Developments of Treasury Management
(C) Forex Management
1. Meaning and Nature of Forex Management
2. Significance of Forex Management
3. Scope of Forex management;
4.  foreign exchange market 
5. Structure Forex Market
6. Foreign exchange rates
7.  Determination of Forex Rates
8. Exchange rate quotes;
9.  Types of exchange rates;
10. Forex trading;
11. Currency futures and options;
12. Foreign exchange risk exposures and their management;
13. Exchange rate forecasting;
14. Risk in foreign exchange business.
15. Recent Development of Forex Management







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