COURSE STRUCTURE

(20 Papers of 50 Marks each)

First Year (Part - I) 2nd Year (Part - II)
1. Principles & Practice of Management 11. Strategic Management
2. Managerial Economics 12. Marketing and Human Resource
3. Macro Economics and International Management
Economic Problems 13. Corporate Financial Environment
4. Business Environment 14. Advanced Statistical Concepts &
5. Direct & Indirect Taxation Tools
6. Accounting Theory 15. Financial Statement Analysis &
7. Basic Statistical Concepts & Tools Reporting
8. Quantitative Techniques 16. Corporate Tax Planning and
9. Cost Accounting Management
17. Management Accounting
10. Advanced Financial Accounting
18. Financial Management
19. Auditing
20. Computer Applications is Business.

Full Marks = (500 + 500) = 1000 Marks

Detailed Course Contents

Part - I

Paper 1 : Principles & Practice of Management

Module - 1 : (25 Marks) :

1. Management : Concept - definitions - significance - is Management a
Science or an art ? Evolution of management thoughts - basic managerial
funcions-social responsibilities of management - professional management
- managerial ethics.
2. Planning : Concept - definitions - significance - elements - principles -
process- priemises - different types (including strategic planning) -
forecasting techniques (qualitative & quantitative) - planning failures -
limitations of planning - decision making : steps - types -bounded rationality
- management by objectives.
3. Organization : Concept - definitions - significance - principles - process -
determinants of organization structure-departmentation (different types) -
delegation of authority - decentralization of authority.
 4. Motivation : Concept - definitions - significance - different approaches to
motivations.

Module - 2 : (25 marks) :

5. Leadership : Concept-definition-significance-difference approaches to
leadership (including situational approach).
6. Communication : Concept-definition-significance-process-types-barriers to
communication-effective communication.
7. Controlling : Concept-definition-significance-steps-requirements of
effective control-types-behavioural implications of control.
References :
l Koontz, O’Donnell & Weihrich—Management
l Koontz & Weihrich—Essentials of Management
l Hicks & Gullett—Management
l Stoner, Freeman & Gilbert Jr.—Management
l Newman, Warren & McGill—The Process of Management
l Robbins—Management : Concept & Practice
l Banerjee, Shyamal—Principle & Practice of Management.

Paper 2 : Managerial Economics

Module-1 : (25 marks)
1. Introduction : Positive Vs. Normative Economics. Characteristics of
Economic Models-Value Judgement in Economics.
2. Decision Analysis-Tools & Techniques : (a) Optimization - Unconstrained
and Constrained Optimization concave functions and their role in
optimization, Basic ideas of Linear Programming, Operations Research. (b)
Decision-making under uncertainty-Introduction, Risk & Uncertainty, The
Expected Utility Model, Limitations of Expected Utility Model in Decision
Making, Expected Utility & Actual Behaviour.
3. Demand Analysis : (a) Neo-Classical Consumer Theory-A review of Neo-
Classical Consumer Theory. (b) Lancaster’s Characteristics Approach to
Consumer Theory. (c) Statistical Demand Curve. (d) Cross Price Elasticities
& Product-Line Pricing. (e) Short-run & Long-run Elasticities (f) The Product
Life-Cycle
 4. Production & Cost Analysis : (a) Different types of production functions -
Cobb-Douglas. Leontief & CES Production Functions. (b) Recapitulations
of Basic cost concept and relationship, elasticity of scale. (c) Multi-plant
Operation. Cost minimization & Multi-plant Production. (d) The Learning
Experience Curve. (e) Alternative Methods of Cost estimation-Engineering
Analysis. Statistical Cost Estimation. Estimating Learning Curves.
Module- 2 : (25 marks) :
5. Market Structure : (a) Dominant Firms & Monopoly Power, (b) Monopoly
Welfare Loss, (c) Modern views of Monopolistic Competition Lancaster’s
(haracteristics Approach), (d) Cooperative Oligopoly-Application of Game
Theory, (e) Monopsony and Bilateral Monopoly.
6. Theories of the Firm : (a) Alternative Theories of Firm-Sales Maximization,
Willamson’s Expense Preference model, Marris’s Growth Maximization
Hypothesis, Behavioural Theory. (b) Multi Product firm & Multiproduct
Pricing. (c) Peak-Load Princing, Pricing & Capacity Planning, Intertemporal
Pricing, Cost Plus & Mark-up Pricing. (d) Adverising.
7. Market-Failure : Externalities and Public Goods— Introduction, Public
Goods, Exernalities, Second Best and Arbitrary Standards, Role of Property
Markets, State interventions in Imperfectly Competitive Industries.
References :
l Baumol, W. J.—Economic Theory and Operation Analysis, Prentice Hall,
l Dobbs Lan M. (2000)—Managerial Economics. Firms, Markets and Business
Decision, Oxford, O. U. P.
l Douglas, E. J. (1992)—Managerial Economics : Analysis and Strategy, Engle
Wood Cliffs, Prentice Hall.
l Haynes W. W. (1969)—Managerial Economics. Second Edition, New York :
Business Publications Inc.

Paper 3 : Macroeconomics and International Economic Problems

Module-1 : Macroeconomics (25 marks) :
1. Macroeconomic Paradigms : What is a Paradigm ? Classical, Keynesian,
Monetarist and New Classical Macroeconomics - Implications of these
theories for LDCs.
2. Basic Macroeconomic Problems : Inflation and Unemployment - Short-
run and Long-run Phillips Curve - Money and Inflation, Unemployment.
 Stagflation, Expected Inflation and the Inflation-expecations-augmented
phillips Curve, the Political Economy of Inflation and Unemployment.
3. Central Bank, Money, Credit and Financial Markets : Money Stock
Determination, the Money Multiplier, Equilibrium in the Financial Markets,
the Supply and Demand for Loanable Funds, Money, Credit and Interest
Rates, Targets for the Central Bank.
4. Business Cyles and Macroeconomic Policy : Business Cycles - Basic
Concepts and Simple Explanation. Economic Policy - (a) Active vs. Passive
(b) Rule vs. Discretion (c) Rules for Monetary Policy and (d) Rules for
Fiscal Policy.

Module-2 : International Economic Problems (25 marks) :

5. Basic Characteristics of Open Economy : National Income Accounting in
an Open Economy, the International Flows of Capital and Goods, Small vs.
Large Open Economy.
6. Balance of Payments and Exchange Rates : Nominal vs. Real Exchange
Rates, Fixed Exchange Rate Regimes, Adjustment under Fixed Exchange
Rates, Flexible Exchange, Money and Prices, Exchange Rate Fluctuations
and Interdependence, Capital Account Convertibility and its Primary Effect
on Trade and the Macroeconomy.
7. Foreign Exchange and Risk Management : Foreign Exchange Operations,
Forex Derivatives - Swaps, Futures, Options and Forward Contracts,
Exchange Rae Arrangements in India - LERMS, Transaction Exposure,
Translation Exposure and Economic Exposure, Management of Exposures-
Internal Techniques, Netting, Marketing, Leading and Lagging, Pricing
Policy, Asset and Liability Management and External Techniques.
8. International Monetary System and Regional Economic Cooperation :
The Bretton Woods System and its demise, IMF, SDR, World Bank and
Affiliate Organizations, GATT & WTO.
References : l Gregory Mankiw—Macroeconomics
l Dornbush, Fischer et al—Macroeconomics
l Sodersten & Reed—International Economics
 Paper-4 : Business Environment
Module - 1 : (25 Marks) :
1. Business Environment—An Overview.
2. Business and Society, Social responsibility, Business Ethics & Corporate
Governance
3. Political Environment—Political Institutions & Role of State in Economic
Development.
4. Economic Environment-—Economic System Industrial Policy 1948,
Industrial Policy 1956 and Industrial Policy 1991. Privatisation &
Disinvestments. Financial Liberalization.
Module-2 (25 Marks) :
1. Technological Environment —Technology & Society, Technology and
Economy, Technology Policy & Management.
2. Legal Environment—Meaning & importance—Principal Provisions of
Companies Act, 1956, Foreign Exchange Management Act, 2000, Consumer
Protection Act, 1986, Patent Act, 1970 and Trade & Merchandise Marks Act,
1958.
3. International Environment — Globalization, Multi National Corporations
& WTO.
4. Natural Environment — Sustainable Development and the Global reality.
References :
l Francis Cherunilam : Bussiness Environment, Himalaya Publishing House.
l K. Aswathappa : Essentials of Business Environment, Himalaya Publishing
House.
l V.P. Michael : Bussiness Policy and Environment, S. Chand & Company
l Joseph W. McGuire : Busniess and Society, McGraw Hill
l Uberio N. K. : Environmental Management, Excel Books.

Paper - 5 : Direct & Indirect Taxes

Module-1 : Direct Taxes (25 Marks) :
1. Taxation of Business income : A brief Introduction.
2. Deductions u/s 80HHC, 80HHD, 80HHE, 80HHF, 80-IA & 80-IB.
3. Set off and carry forward of losses.
4. Clubbing of income.
 5. Assessment Procedure.
6. Advance Tax Payment.

Module-2 : Indirect Taxes (25 Marks) :

1. Central Excise Duties : Classification of goods, levy and collection of
duties, Excisable goods, recovery of duties not levied or not paid or short
levied or short paid or erroneously refunded, claim for refund.
2. Custom duties : Levy of and exemption from customs duties-clearing of
imported goods and export of goods, goods-in-transit, duty-drawback.
3. Central Sales Tax : Definitions of certain terms, sale or purchase in course
of inter-state trade & commerce, sale or purchase of goods outside a state,
sale or purchase in course of import or export, liability to tax on intersatate
sales.
4. West Bengal Sales Tax : Definitions, registration of dealer and cancellation
of registration.
5. VAT : A conceptual introduction.
References :
l Taxman : Income Tax Act
l Taxman : Direct Taxes - Law & Practice
l Taxman : Indirect Taxes - Law & Practice
l West Bengal Sales Tax Act
l Central Sales Tax Act
l Central Excise & Customs Act.
Note : Students Should follow university circular in respect of this paper.

Paper - 6 : Accounting Theory

Module-1 : (25 Marks) :
1. Nature of Accounting Theory : Classification of Accounting Theories-
Foundations of Accounting Theory-Accounting Environment.
2. Capital, Value and Profit (income) : Conepts of capital and profit -
maintenance of capital-valuation of capital-accounting profit vs. economic
profit.
3. Features and justification for Cash-flow Accounting : Historical Cost
Accounting vs. Cash-flow Accounting-Status of Cash-flow Accounting.
4. Conceptual framework for Financial Accounting and Reporting :
Qualitative characteristics of Accounting Information.
Module -2 : (25 Marks) :
5. Meaning, Importance and Problems of Disclosure in Reporting : Form
and Arrangement of financial Statements-Limitations of traditional
measures-Economic Value Added (EVA).
6. Principles of Govt. Accounting.
7. Nature and Scope of Social Acounting : Objectives of Social Accounting
Information-Social Accounts.
8. Value Added Reporting : Nature, meaning and scope.
References :
l Porwal, L. S. : Accounting Theory - An Introduction.
l Hendriksen, E. S. : Accounting Theory.
l Sinha,G. C. : Studies in Accounting Thought.
l Glautier & Underdown : Accounting Theory & Practice.

Paper-7 : Basic Statistical Concepts and Tools

Module - 1 : (25 Marks) :
1. Introduction - Recapitulation of basic concepts of Central Tendency.
Measures of Dispersion.
2. Correlation and Regression - Bivariate data - Bivariate frequency
distribution - scattered diagram - simple correlation - properties of product
moment correlation coefficient - simple regression analysis-properties of
linear regression - explained variation and unexplained variation - rank
correlation - non linear regression - auto correlation, multiple regression.
3. Interpolation - Introduction - finite differences - E operators - differences
of a polynomial function - Newton’s Forward interpolation formulae -
Newton’s backward interpolation formulae - Central difference formulae
- Lagrange’s interpolation formulae.
4. Theory of Attributes - Notations - classes and class frequencies - relation
between class frequencies - class Symbols as Operators-independene and
association of attributes - Yule’s coefficient of association - Coefficient of
Colligation.

Module-2 : (25 Marks) :

5. Index Number - Meaning and basic requirements of an index no. -
Construction of index no. - using relatives and aggregates - test for index
 no. Cost of living index no. - Biases in Laspeyres’ and Paasche’s index no.
– Base shifting and chain indices - uses of index no.
6. Time Series Analysis - Meaning and necessity of time series analysis -
components of time series analysis - measurement of secular train by free
hand, curve fitting moving average method and mathematical curve fitting
method-linear parabolic and exponential trend-measurement of seasonal
variation - ratio to trend, ratio to moving average and link relative method
- cyclical fluctuations-business forecasting.
7. Statistical Quality Control : Different types of quality measures - control
charts for variables and attributes - Process cnontrol-TQM.
References :
l Goon, Gupta, Dasgupta, Eundamentals of Statistics
l Slockton and Cleark, Introduction to Business and Economics statistics
l Taro Yamame, Statistical Mothods
l N. G. Das, Statistics

Paper-8 : Quantitative Techniques

Module-1 : (25 Marks) :
1. Introduction to Operation Reseach-History : Approach, Techniques and
tools.
2. Linear Programming : Motivation of linear programming problems.
Statements of L. P. P. Formulation of L.P.P. Slack and Surplus variables
L.P.P. Matrix form Basic solutions and Basic Feasible Solutions (B.F.S.)
degenerate and Non-degenerate B.F.S. Fundamental Theorem of L. P. P.
(statement only). Reduction of a feasible solution of BFS standard form of
LPP. Solution by graphical method (for two variables), by a simplex method
(not more than four variables). Feasibility and optimality condition, Method
of Penalty. Concept of Duality. Duality Theory. The dual of the dual in the
primal. Relation between the objective value of dual and principal/
problems. Dual problems with at most one unrestricted value, one constraint
of equality.
3. Transportation Problem : Introduction - Mathematical formulation of
transportation problem - the Transportation method for finding initial
solutions-North West corner method - Least Cost Method - Vogel’s
Approximation method - test for optimality - Dual of a transportation model
- steps of modi method-loops in transportation table - Degeneracy.
4. Assignment Problem : Introduction - Mathematical statement of the
 problem-Hungarian method of solution - Maximization case in assignment
problem—Unbalanced assigment problem - restriction on assignment -
Travelling salesman problem.
Module-2 : (25 Marks) :
5. Theory of Games : Introduction - Two person zero sum games - Pure
strategies - games with saddle points - rules to determine saddle points -
mixed strategies - Game without saddle points - the rules of dominance -
Methods of solution for games without saddle points—algebraic method
arithmetic method - Graphical methods.
6. Project Management PERT and CPM : Introduction and Definition - Basic
difference between PERT and CPM - PERT/CPM network components and
precedence relationship - rules of Network Constructions - error and
dummy in network critical path analysis-forward pass method - backward
pass method-Float of an activity and event Critical Path - Probability in
PERT analysis estimation of project completion time - project time cost
trade of.
7. Inventory Management : Nature of the problem and need for control
Deterministic and probabilistic conditions.
References :
l Swarup, Gupta & Man Mohan : Operation Research, Sultan Chand

l V.K. Kapoor : Operations Resomch, Sultan Chand & sons.

l C.R. Kothari : Quantitative Techniques - Nihas Publishing

l R. C. Gupta : Quantitative Methods and Operations Research, CBS

Publishing

Paper-9 : Cost Accounting

Module-1 : (25 Marks) :

1. Basics of cost and management accounting

2. Cost concepts and cost objects
3. Classification and analysis of cost.
4. Allocation of overhead cost-Limitation of the volume based methods-actual
vs. predetermined.
5. Cost control, cost reconciliation and integrated accounts.
Module-2 : (25 Marks) :

6. Methods of costing : Job contract, process and service costing.

7. Marginal costing : (Conceptual concepts)- Concepts of marginal cost and
marginal costing-Segregation of semi-variable overheads into variable and
fixed elements-Ascertainment of marginal cost-Concept of profit under
marginal costing-Break-even analysis-Computation of breakeven analysis
and margin of safety.
8. Marginal costing and management decisions : Introduction of a new
product-make or buy-problems of limiting factor and dropping a procut
line.

References :
l Owler & Brown : Wheldon’s Cost Accounting, ELBS, Pitman.
l Horngren, Hoster and Datar : Cost Accounting-A Managerial Emphasis,
Prentice Hall of India Ltd.
l Banerjee, B : Cost Accounting, World Press Pvt. Ltd.
l Prasad. N. K. : Cost Accounting, Book Syndicate.
Paper-10 : Advanced Financial Accounting
Module - 1 : (25 marks) :
1. Disclosure in Company Accounts-Disclosure requirements as per
Companies Act, Accounting Standard and SEBI guidelines
2. Structure of Company Accounts.
3. Valuation of Shares including goodwill.
4. Cash-flow Statement-Preparation as per AS 3 and interpretation.
5. Accounting for Liquidation of Companies-Preparation of The Statement
of Affairs, The liquidator’s Final Statement of Accounts and the Deficiency
or Surplus Accounts.
Module-2 : (25 Marks) :
6. Consolidated Accounts : Preparation of consolidated Balance Sheet and
Income Statement-Main provisions of AS 21.
7. Schemes for Mergers and Amalgamations and Internal Reconstruction
: Provisions of AS 14.
8. Segment Reporting : Meaning of segment-Benefit of segment reporting-
Provisions of AS 17.
 References :
l Banerjee, B : Regulation of Corporate Accounting and Reporting in India.
The World Press.
l Bedford, N. M : Extensions in Accounting Disclosure, Prentice Hall
l Chakraborty, H : Advanced Accountancy, Oxford University Press.
l Hanif & Mukherjee : Advanced Accountancy.

PART - II
Paper - 11 : Strategic Management
Module - 1 : (25 marks) :
1. Introduction : Concepts of strategy and strategic management-levels of
strategy-mission and objectives-basic idea about strategic intent and core
competence.
2. Analysis and Diagnosis : Environmental analysis and diagnosis :
environmental factors, ETOP-internal analysis and diagnosis : internal
factors, SAP-SWOT
analysis.
3. Strategic Options : Alternative grand strategies-stability, growth,
retrenchment and combinations-Mergers, Acquisitions and joint Ventures.
Module - 2 : (25 marks) :
4. Choice of Strategy : Process of strategic choice-Porter’s approach : five-
forces model, three generic strategies, value chain analysis-Portfolio
analysis.
5. Strategy Implementation : Interrelationship between formulation and
implementaion-issues in strategy implementation : basic idea about
resource allocation, leadership and structural considerations.
6. Strategy Evaluation : Evaluation and control in strategic management-
criteria for strategy evaluation-strategy evaluation framework.
References :
l Ansoff, I : Corporate Strategy, Penguin
l Ansoff, I : Implanting Strategic Management, PHI
l Porter, M. E. : Competitive Strategy, free press
l Subba Rao, V : Stratagic Management, Himalaya Publishing
 Paper-12 : Marketing & Human Resource Management
Module - 1 : Marketing Management (25 Marks) :
1. Marketing tasks, concepts and tools : how marketing practices are
changing in the new competitive economy-defining and delivering
customer value and satisfaction.
2. Market-oriented strategic planning-scanning the marketing
environment : analysing Consumer markets and buyer behaviour-
identifying market segments and selecting Target markets.
3. Positioning and differentiating the market offering through the product
life cycle developing new market offerings.
4. Setting the product and branding strategy : developing price strategies
and programmes.
5. Designing and managing marketing channels : managing advertising,
sales promotion, public relations and direct marketing-managing the sales
force.
Module - 2 : Human Resource Management (25 Marks) :
1. Meaning, Scope & Functions of Human Resource Management :
Defining, Scope, Objective, Importance of HRM Qualities, Role of HR
Manager, Difference between PM & HRM.
2. Human Resource Planning, Recruitment and Selection, Welfare
Programmes.
(a) HR Planning : Meaning Objectives, Processes, Succession Planning ;
(b) Recruitment & Selection : Concepts, Objectives, Sources of
Recruitment, Selection Process.
(c) Welfare Programmes : Meaning and Objectives and Types of Welfare
Programmes.
3. Training & Performance Appraisal : Meaning and Objectives ; Difference
between
(a) Training & developments ; Needs, Methods and evaluation.
(b) Performance Appraisal : Meaning, Importance, Problems and Errors-
Potential Appraisal-Appriasal Methods.
4. Industrial Disputes & Industrial Relations :
(a) Industrial Disputes : Meaning, forms & causes ; Methods for Prevention
& Settlement
(b) Industrial Relations : Meaning, Importance, Characteristics & Factors-
 Conditions for Congenial IRs : Meaning, Objectives & forms & Workers’
Participation in Management.
Referances :
l Kotler,Marketing Management, PHI.
l Kotler and Armstrong, Principles of Marketing, PHI.
l Ramaswamy and Namakumari, Marketing Management : Planning,
Implementation and Control-The Indian Context, Macmillan India.
l Neelamegham, Marketing in India : Cases and Readings, Vikas.
l Srinivasan, Case Studies in Marketing : The Indian Context, PHI.

Paper-13 : Corporate Financial Environement

Module - 1 : (25 marks) :

1. Introduction to Indian Financial Environment
2. Role and importance of Financial Management
3. Mutual Funds - Types of Mutual funds - Performance Measurement.
4. International Financial Institutions.
5. Overview of Indian Stock Market-Primary Market - Secondary Market.
6. Stock Market Analysis - Fundamental and Technical Approach.

Module - 2 : (25 marks) :

7. Efficient Market Theory.
8. Overview of Fixed Income Securities - Bond market Instruments :
Government and Corporate Debt Market.
9. Yield curve Analysis - Term Structure of interest rates.
10. Introduction to Derivatives and Derivative Markets.
11. Forward and Futures Contracts - Valuation - Stock Index Funtures.
12. Options Contracts - Option Pricing-Option Trading strategies.
References :
l Gupta, R. L., Advanced Financial Accounting, S. Chand & sons.
l Gedford, N. M. : Extensionsin Accounting Disclosure, PHI

l Zeff and Dharan, Readings and Notes on Financial Accounting, McGraw Hill

l Banerjee & Basu, Corporate Financial Reporting, University of Calcutta.

 Paper 14 : Advanced Statistical Concepts and Tools
Module-1 : (25 Marks) :
1. Basic concepts of probability : Introduction, definition of various terms,
classical definition, empirical definition and axiomatic definition of
probability. Random experiment, event, law of addition of probability,
multiplication law of probability, conditional probability, independent
events, pairwise independent events, Bayes theorem and its application.
2. Random variables : definition of random variable, distribution function,
discrete and continuous random variable, probability mass function,
probability density function, discrete and continuous distribution function,
joint probability law. Mathematical expectation-addition and
multiplication theory of expectation and moment generating function.
3. Discrete probability distribution : introduction, Binomial distribution,
moments recurrence relation between the moments, moment generating
function, Poisson distribution, moments, recurrence relation between the
moments, Moment generating function, geometric distribution, moments
of geometric distribution.
4. Continuous probability distribution, rectangular distribution, moments and
MGF of rectangular function. Normal distribution, Chief characteristics
of Normal distribution and Normal probability curve.
Module-2 : (25 marks) :
1. Introduction : types of sampling, probability sampling, simple random
sampling, systematic sampling, stratified random sampling, cluster
sampling, non probability sampling - convenient sampling, purposive
sampling, judgement sampling and quota sampling.
2. Sampling distribution : Introduction, sampling distribution of the mean,
central limit theorem, T. F. Chi-square distribution.
3. Theory of estimation : Introduction, characteristics of estimators,
consistency, unbiasedness, sufficiency and efficiency, most sufficient
estimator.
4. Testing of hypothesis. : Basic concepts, hypothesis testing procedure,
testing of population mean, population proportion, testing of difference
between means, testing for population variance, testing of equality of two
population variances, chi-square test, testing the goodness of fit, testing
independence of categorized data.
eferences :
l Goon, Gupta, Dasgupta : Fundamentals of Statistics. Vol I & II.
l Mathai, Rathic : Probalility and Statistics.
l Kapoor, Saxena : Mathematical Statistics.

Paper-15 : Financial Statement Analysis and Reporting

Module - 1 : (25 marks) :
1. Introduction : Meaning and objective of Financial Management Analysis-
origin of Financial Statement Analysis-sources of financial statement
information -traditional approach vs. new approach to Financial Statement
Analysis -
technique of Financial Statement Analysis.
2. Profitability Analysis : Application of accounting ratios for measuring
profitability concept of economic value added.
3. Analysis of growth and sustainable earnings : The meaning of growth -
the analysis of chances in operation - Operating Leverage - Analysis of
changes in financing - the analysis of growth in Investments - Analysis of
Sustainable Earnings.
4. Analysis of Liquidity and Solvency : Measurement of liquidity and
solvency by application of ratios-liquidity of inventory-Inventory turnover
ratio-different approaches to calculate inventory turnover-liquidity of
Debtors-Debtors turnover and velocity - Liquidity and Distribution of
Current Assets.
5. Analysis of Cash flow statement : Utility of cash flow statement - cash
flow statement as per AS3 – role of cash flow statment.
6. Inter-firm comparison.
Module - 2 : (25 marks)
7. Concept of stock market efficiency : Meaning of efficient stock market -
Random walk and market efficiency - Different forms of market efficiency
- Anomalies of market efficiency - role of financial analyst in an efficient
market.
8. Corportate sickness : Meaning of the term of corporate sickness -
Provisions of SICA-Suggested measures for turnaround.
9. Prediction of Bond Risk and Credit Rating : Different types of risks
involved in bond holding - Meaning of Bond Risk Premium- with the help
of models - utility of forecasting Bond Risk Premium-Meaning of Credit
Rating - Models on forecasting of Credit Rating - Credit Rating and
Accounting Ratios - Cash flow and Credit Rating.
10. Analysis of Merger : Differnet forms of corporate merger - Benefits and
motives for merger - Evaluation of prospective merger proposals and post
merger performance.
11. Corporate Financial Reporting in India : Emerging issues and reporting
practices.
References :
l Lev. B., Financial Statement Analysis : A new approach, PHI
l Foster. G., Financial Statement Analysis, PHI
l Foulke, A. R. Practical Financial Statement Analysis, Total McGraw Hill.

Paper - 16 : Corporate Tax Planning and Management

Module - 1
1. Concept of Tax Planning : Corporate Tax Planning - Tax Planning in
Strategic & Project Releted Deceisions - Tax Avoidance.
2. Tax Planning in functional Management : Employees’ remuneration :
Tax implication and planning consonant with company law requiremets-
Research & development.
3. Tax Planning with reference to financial management decisions : Capital
structure decision, Dividend policy - Inter - corporate diviend and
capitalization of reserves and surplus.
Module - 2
4. Corporate Strategies : Setting up of new business. Tax aspects of
amalgamation and merger. Tax implication of foreign collaboration
agreemetnts. Corporate failure and contraction.
5. Tax consideration with regard to specific management decisions such
as (i) make or buy, (ii) own or lease, (iii) retain or replace.
6. Tax management : Procedural aspects of assessment, appeal and revision,
review and rectification.
References :
l Law and Practice of Income Tax in India-Kanga and Pallivala.
l Direct Taxes : Law and Practice : Bhagati Prasad
l Corporate Tax Planning F.A. Srinivas
l Corporate Tax Planning : D. A. Upponi
 Paper - 17 : Management Accounting
Module - 1 :
1. Introduction : Definition, functions and scope of management accounting ;
difference with other branches of accounting ; role, position and
responsibility of management accountant.
2. Marginal Costing and Management Decision : Concept and its
application in Cost - Volume-Profit (CVP) analysis and managerial
decision-making.
3. Management Control Systems : Standard Costing and Variance Analysis
- definition-objectives - advantages and limitations of standard costing -
standard costing vs. budgetary control - analysis and interpretation of
variances - reconciliation of budgeted and actual profit. Budgetary Control
- Functional budgets - master budget - flexible budget - flexible budgeting
- zero - base budgeting - performance budgeting - Programme budgeting.
Module - 2 :
4. Performance Measurement and Responsibility Accounting : Return on
Investment - Residual Income - Economic value Added - Balanced
Scorecard. Concept of responsibility centre-responsibility accounting and
reporting - preparation of reports under responsibility accounting system.
5. Transfer Princing : Need - principles - different methods and their
applicability.
6. Activity based Costing and Activity - based Management : Concept of
activities - cost drivers - cost pool - activity - based costing (ABC) -
advantages and limitations of (ABC) - traditional costing vs. ABC - cost
analysis and recovery of overheads under ABC - using ABC systems for
cost management and profitability improvement.
References :
l Management Accounting - M. Y. Khan & P. K. Jain, TMH
l Management Accounting principles - R. N. Anthony & T. R. Recce.
Homewood III : R. D. Irwin, Inc.
l Management Accounting-I.M. Pandey, Vikas.
Paper - 18 : Financial Management
Module - 1 :
1. Introduction : Functions of Financial Management - Objectives of firm :
Profit maximization and value maximization.
 2. Some basic concepts of Finance : Time value of money - risk - return
relationship.
3. Various sources of Finance : Long, medium and short-term - Indian
financial system (brief introduction)
4. Cost of Capital
5. Analysis of leverages and capital structure theories and planning.

Module - 2 :
6. Management of various components of working capital
7. Capital budgeting decisions of the firm
8. Dividend decisions
9. Financial management of sick enterprises
10. Portfolio management.
References :
l Financial Management - James C. Van Horne, PHI
l Financial Management-Theory & Practice - Prasanta Chandra TMH.
l Financial Policy and Management Accounting - B. Banerjee, world Press.
l Financial Management - Khan & Jain, TMH
l Financial Management - IM Pandey, Vikas.

Paper - 19 : Auditing
Module - 1 :
1. Auditing : Nature and scope, audit process, objective of audit - Relationship
between Accounting and Auditing principles - Types of Audit - periodical
audit, interim audit, continuous audit - Extended meaning of audit,
philosophy of audit - Auditing as a social science and social objects of
audit.
2. Planning and Programming of Audit : Planning the flow of audit work,
Audit checklist-Review of audit notes and working papers - Reliance on
another auditor, on internal auditor and on an expert.
3. Evaluation of Internal Control System and Internal Audit : Evaluation
of internal control procedures - Techniques including questionnaire, flow
-chart etc., -internal audit - scope, duty, rights - coordination between the
two - Role of Audit Committee.
 4. Statements / Standards and Guidance Notes : Concepts of generally
accepted acounting principles - their significance with reference to audit
- Concepts of generally accepted auditing Standards - Statements of
Auditing and assurance standard issued by ICAI - Compliance with
accounting standards including Standards issued under Income Tax Act.
5. Audit of Limited Companies : Statutory requirements - Audit report -
independence of auditor-concept of true and fair and materiality in the
context of audit of companies - dividends and divisible profits.
6. Special Audit : Concept of Management and Operational Audit - its nature
& purpose & organization ; Cost Audit - Forecast Audit - Audit of interim
financial statements - Limited review - as per listing agreement.
7. Application of EDP for Audit : Specific problems of EDP audit - need for
review of internal control - techniques of audit of EDP output - Use of
computers for internal and management audit purposes - Audit implication
of Computer - aided auditing.
8. Professional Ethics and Code of Conduct : Enhancing the quality of audit
- emerging issues and measures.
References :
l Contemporaray Auditing - Kamal Gupta, Tata McGraw Hill
l Auditing : Theory & Practice - P. Kumar, P. Sachdeva & J. Sing,
l Fundamentals of Auditing - Gupta & Aurora, Tata McGraw Hill
l Cost Audit & Management Audit - Sexena & Vashit, Sultan Chand & Sons.

Paper - 20 : Computer Applications in Business

Mudule - 1 :
1. Computer Hardware : Computer system as information system ; Computer
system difference - types of computer systems, hardware options - CPU,
input devices, output devices, storage devices, communication devices,
configuration of hardware ; devices and their applications.
2. Personal Computers : PC and its main components, hardware
configuration, CPU and clock speed, RAM and secondary storage devices,
other peripherals used with PC ; Factors influencing PC performance ; PC
as a virtual office.
3. Modern Information Technology : Basic idea of Local Area Networks
(LAN) and Wide Area Networks (WAN) ; E-mail ; Internet technologies,
access devices, concept of a World Wide Web and Internet browsing ;
Multimedia.
 4. Introduction to Operating Systems : Software needs, operating systems,
application software, programming languages ; DOS ; Windows-Window
explorer, print manager, control panel, paintbrush, calculator, desktop, lvy
computer, find, run, UNIX.
Module - 2 :
5. Word Processing : Introduction and working with MS-Word in MS-Office
; Word basic commands ; Formatting - text and documents ; Storing and
tables ; Working with graphics ; Introduction to mail-merge.
6. Spread Sheets : Working with EXCEL-formatting, functions, chart features
; Working with graphics in Excel ; Using workshop as database in
accounting, marketing, finance and personal areas.
7. Presentation with Power-point : Power-point basics, creating
presentations the easy way ; Working with graphics in Power-point ; Show
time, sound effects and animation effects.
8. Introduction to Accounting Packages : Preparation of vouchers, invoice
and salary statemets ; Maintenance of inventory records ; Maintenance of
accounting books and final accounts ; Financial reports generation,
Practical knowledge on Wings Accounting and Wings Trade (Software),
Tally etc.
References :
Introduction to Microprocessor - Aditya P. Mathur
Microprocessor, Microcmputer & Their Application - A. K. Mukhopadhyay.

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