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CS Executive Syllabus with Subject wise details

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cs executive syllabus 2019

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CS Executive Old & New Syllabus

New Syllabus

You can also download the PDF Version of CS Executive Syllabus from the official ICSI Website.

The detailed contents for each of the seven papers of the Executive Programme as approved by the Council are as under:

CS Executive New Subjects – MODULE 1

CS Executive New Subjects – MODULE 2

Detailed Syllabus for CS Executive Programme (New Course)

PAPER 1: JURISPRUDENCE, INTERPRETATION & GENERAL LAWS (100 MARKS)

  • Sources of Law
  • Constitution of India
  • Interpretation of Statutes
  • General Clauses Act, 1897
  • Administrative Laws
  • Law of Torts
  • Limitation Act, 1963
  • Civil Procedure Code, 1908
  • Indian Penal Code, 1860
  • Criminal Procedure Code, 1973
  • Indian Evidence Act, 1872
  • Special Courts, Tribunals under Companies Act & Other Legislations
  • Arbitration and Conciliation Act, 1996
  • Indian Stamp Act, 1899
  • Registration Act, 1908
  • Right to Information Act, 2005
  • Information Technology Act, 2000

PAPER 2: COMPANY LAW (100 MARKS)

Part I: Company Law, Principles &Concepts (50 Marks)

  • Introduction to Company Law
  • Shares and Share Capital
  • Members and Shareholders
  • Debt Instruments
  • Charges
  • Distribution of Profits
  • Corporate Social Responsibility
  • Accounts, Audit and Auditors
  • Transparency and Disclosures
  • An overview of Inter-Corporate Loans, Investments, Guarantees and Security, Related Party Transactions.
  • Registers and Records
  • An overview of Corporate Reorganization
  • Introduction to MCA 21 and filing in XBRL.
  • Global Trends and Developments in Company Law

Part II: Company Administration and Meetings – Law and Practices (40 Marks)

  • Board Constitution and its Powers
  • Directors
  • Key Managerial Personnel (KMP’s) and their Remuneration
  • Meetings of Board and its Committees
  • General Meetings
  • Virtual Meetings

Part III: Company Secretary as a Profession (10 Marks)

  • Legal framework governing Company Secretaries
  • Secretarial Standards Board
  • Mega Firms

PAPER 3: SETTING UP BUSINESS ENTITIES AND CLOSURE (100 MARKS)

Part A: Setting up of Business (40 Marks)

  • Choice of Business Organization
  • Company
  • Charter documents of Companies
  • Legal status of Registered Companies
  • Limited Liability Partnership
  • Other forms of business organizations
  • Institutions Not For Profit &NGOs
  • Financial Services Organization
  • Start-ups
  • Joint Ventures; Special Purpose Vehicles
  • Setting up of Business outside India
  • Conversion of existing business entity

Part B: Registration; Licenses & Compliances (35 Marks)

  • Various Initial Registrations and Licenses
  • Maintenance of Registers and Records
  • Identifying laws applicable to various Industries and their initial compliances
  • Intellectual Property laws (Provisions applicable for setting up of business)
  • Compliances under Labour Laws (Provisions applicable for setting up of business)
  • Compliances relating to Environmental laws (Provisions applicable for setting up of business)

Part C :Insolvency; Winding up& Closure of Business (25 Marks)

  • Dormant Company
  • Strike off and restoration of name of the company and LLP
  • Insolvency Resolution process; Liquidation and Winding-up

PAPER 4: TAX LAWS (100 MARKS)

Part I: Direct Taxes (50 marks)

  • Direct Taxes at a Glance
  • Basic concepts of Income Tax
  • Incomes which do not form part of Total Income
  • Computation of Income under Various Heads
  • Clubbing provisions and Set Off and / or Carry Forward of Losses
  • Deductions from Gross Total Income & Rebate and Relief
  • Computation of Total Income and Tax Liability of various entities
  • Classification and Tax Incidence on Companies
  • Procedural Compliance
  • Assessment, Appeals &Revision

Part II: Indirect Taxes (50 marks)

  • Concept of Indirect Taxes at a glance
  • Basics of Goods and Services Tax , GST
  • Concept of Time, Value & Place of Taxable Supply
  • Input Tax Credit & Computation of GST Liability
  • Procedural Compliance under GST
  • Basic overview on Integrated Goods and Service Tax (IGST), Union Territory Goods and Service tax (UTGST), and GST Compensation to States.
  • Overview of Customs Act

PAPER 5: CORPORATE AND MANAGEMENT ACCOUNTING (100 MARKS)

Part I: Corporate Accounting (60 marks)

  • Introduction to Financial Accounting
  • Introduction to Corporate Accounting
  • Accounting for Share Capital
  • Accounting for Debentures
  • Related Aspects of Company Accounts
  • Financial Statements Interpretation
  • Consolidation of Accounts as per Companies Act, 2013
  • Corporate Financial Reporting
  • Cash Flow Statements
  • Accounting Standards (AS)
  • National and International Accounting Authorities
  • Adoption, Convergence and Interpretation of International Financial Reporting Standards (IFRS) and Accounting Standards in India

Part II: Management Accounting and Valuation (40 marks)

  • An Overview of Cost
  • Cost Accounting Records & Cost Audit under Companies Act, 2013
  • Budget, Budgeting and Budgetary Control
  • Ratio Analysis
  • Management Reporting (Management Information Systems)
  • Decision Making Tools
  • Valuation Principles & Framework
  • Valuation of Shares, Business and Intangible Assets
  • Accounting for Share based payments (IndAS 102)
  • Business and Intangible Assets
  • Methods of Valuation

PAPER 6: SECURITIES LAWS AND CAPITAL MARKETS (100 MARKS)

Part I: Securities Laws (70 Marks)

  • Securities Contracts (Regulations) Act 1956
  • Securities and Exchange Board of India Act, 1992
  • Depositories Act, 1996
  • An Overview of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.
  • An Overview of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
  • An Overview of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
  • SEBI (Buyback of Securities) Regulations, 1998
  • SEBI (Delisting of Equity Shares) Regulations, 2009
  • An Overview of SEBI (Share Based Employee Benefits) Regulations, 2014.
  • An Overview of SEBI (Issue of Sweat Equity) Regulations, 2002.
  • SEBI (Prohibition of Insider Trading) Regulations, 2015
  • Mutual Funds
  • Collective Investment Schemes
  • SEBI (Ombudsman) Regulations, 2003

Part II: Capital Market & Intermediaries (30 Marks)

  • Structure of Capital Market
  • Securities Market Intermediaries

PAPER 7: ECONOMIC, BUSINESS AND COMMERCIAL LAWS (100 MARKS)

Part I: Foreign Exchange Management &NBFCs (40 Marks)

  • Reserve Bank of India Act, 1934
  • Foreign Exchange Management Act, 1999
  • Foreign Exchange Transactions & Compliances
  • Foreign Contribution (Regulation) Act, 2010
  • Foreign Direct Investments – Regulations & FDI Policy
  • Overseas Direct Investment: ODI Policy, foreign currency remittances
  • Liberalized Remittance Scheme
  • External Commercial Borrowings (ECB)
  • Foreign Trade Policy & Procedure
  • Non Banking Finance Companies(NBFCs)
  • Special Economic Zones Act, 2005

Part II: Competition Law (25 Marks)

  • Competition Act, 2002

Part III: Business & Commercial Laws (35 Marks)

  • Consumer Protection Act, 1986
  • Essential Commodities Act, 1955
  • Legal Metrology Act, 2009
  • Transfer of Property Act, 1882
  • Real Estate (Regulation and Development) Act, 2016
  • Benami Transaction Prohibitions (Act)
  • Prevention of Money Laundering
  • Indian Contracts Act, 1872
  • Specific Relief Act, 1963
  • Sale of Goods Act, 1930
  • Partnership Act, 1932
  • Negotiable Instrument Act, 1881

PAPER 8: FINANCIAL AND STRATEGIC MANAGEMENT (100 MARKS)

Part I:Financial Management (60 marks)

  • Nature and Scope of Financial Management
  • Capital Budgeting
  • Capital Structure
  • Sources of raising long-term finance and Cost of Capital
  • Project Finance
  • Dividend Policy
  • Working Capital
  • Security Analysis
  • Portfolio Management

Part II: Strategic Management (40 Marks)

  • Introduction to Management
  • Introduction to Strategic Management
  • Business Policy and Formulation of Functional Strategy
  • Strategic Analysis and Planning
  • Strategic Implementation and Control
  • Analysing Strategic Edge

Old Syllabus

You can also download the PDF Version of CS Executive Syllabus from the official ICSI Website.

The detailed contents for each of the seven papers of the Executive Programme as approved by the Council are as under:

CS Executive Old Subjects – MODULE 1

CS Executive Old Subjects – MODULE 2

Detailed Syllabus for CS Executive Programme (Old Course)

PAPER 1: COMPANY LAW (100 Marks)

Introduction

  • Historical Development of Concept of Corporate Law in India
  • Company-Definition, Meaning, Nature and its Characteristics
  • Nature and Forms of Business
  • Company vis-à-vis other Forms of Business
  • Concept of Corporate Personality, Corporate Veil, Limited Liability and Citizenship

Incorporation and its Consequences

  • Types of Companies and their incorporation
  • Promoters-Meaning, Position, Duties, Rights, Responsibilities and Liabilities
  • Formation of Companies – Procedural Aspects
  • Memorandum of Association & Articles of Association and their Alteration
  • Contracts and Conversion of Companies
  • Commencement of Business
  • Doctrine of Ultra-Vires, Constructive Notice, Indoor Management, Alter Ego

Financial Structure

  • Concept of Capital and Financing of Companies – Sources of Capital; Classes and Types of Shares; Equity Shares with Differential Rights; Issue of Shares at Par, Premium and Discount; Forfeiture and Surrender of Shares; Bonus Issues; Rights Issues; Issue of Sweat Equity Shares; Employees Stock Option Scheme; Private Placement; preference shares and other forms of securities
  • Alteration of Share Capital – Reduction of Capital; Buy-Back of Shares
  • Prospectus- Definition; Abridged Prospectus; Red-Herring Prospectus; Shelf Prospectus; Information Memorandum; Contents, Registration; Misrepresentations and Penalties
  • Debt Capital- Debentures, Debenture Stock, Bonds; Recent Trends and Dynamics of Corporate Debt Financing; Debenture Trust Deed and Trustees; Conversion of and Redemption of Debentures
  • Securing of Debts- Charges; Creation, Modification and Satisfaction of Charges
  • Allotment and Certificates- General Principles and Statutory Provisions related to Allotment; Minimum Subscription; Irregular Allotment; Procedure of Issue of Share Certificates and Warrants

Membership in a Company

  • Modes of Acquiring Membership
  • Rights and Privileges of Members, Register of Members
  • Dematerialisation and Rematerialisation of Securities
  • Transfer and Transmission of Securities in Physical and Dematerialized forms
  • Nomination

Management and Control of Companies

  • Directors-Types, Director’s Identification Number (DIN), Appointment/Reappointment, Qualifications, Disqualifications, Vacation of Office, Retirement, Resignation and Removal of Managing and Whole-Time Directors and Manager
  • Role and Responsibilities of Directors
  • Powers and Duties
  • Loans to Directors
  • Remuneration of Directors
  • Office or Place of Profit
  • Contracts in which Directors are Interested
  • Board of Directors and its Committees
  • Company Secretary – Appointment, Role and Responsibilities
  • Company Secretary as a Key Managerial Personnel
  • Meetings:
  • Meetings of Board and Committees – Frequency, Convening, Proceedings, Video Conferencing of Board/Committee(s); Resolution by Circulation; Minutes and Evidence
  • General Meetings-Kinds of Meetings; Law, Practice and Procedure Relating to Convening and Proceedings at General and Other Meetings; Notice, Quorum, Chairman, Proxy, Voting including Voting through Electronic Means; Resolutions, Circulation of Members’ Resolution, etc.; Postal Ballot; Recording, Signing and Inspection of Minutes.
  • Distribution of Powers of a Company – Division of Powers between Board and General Meetings; Acts by Directors in Excess of Authority; Monitoring and Management
  • Sole Selling and Buying Agents-Meaning, Appointment and Reappointment, Removal; Powers of Central Government and Rules Framed for the Purpose

Investments, Loans and Deposits

  • Law relating to making investments in and granting loans to other bodies corporate and giving guarantees and providing security
  • Acceptance of Deposits, Renewal, Repayment, Default and Remedies

Accounts and Audit

  • Books of Accounts
  • Financial Statements
  • Auditors-Appointment, Resignation and Removal; Qualification and Disqualification; Rights, Duties and Liabilities
  • Audit and Auditor’s Report
  • Cost Audit and Special Audit

Dividends

  • Profit and Ascertainment of Divisible Profits
  • Declaration and Payment of Dividend
  • Treatment of Unpaid and Unclaimed Dividend
  • Transfer of Unpaid and Unclaimed Dividend to Investor Education and Protection Fund
  • Board’s Report and Disclosures- Contents and Annexure to Board’s Report
  • Directors’ Responsibility Statement-Preparation and Disclosures
  • Compliance Certificate – Need and Objective; Issue and Signing by Practising Company Secretary
  • Corporate Governance Report

Registers, Forms and Returns

  • Statutory Books and Registers prescribed under various provisions of the Company Law – Maintenance, Authentication, Place of Keeping and Inspection
  • Filing of various Forms and Returns with the Authorities
  • Procedure and Penalties for Delayed Filing
  • Annual Return – Nature and Significance; Contents; and Certification by Practising Company Secretary

Inspection and Investigation

  • Inspection of Documents
  • Powers of the Inspector
  • Seizure of Books And Documents
  • Inspector’s Report
  • Power of the Registrar of Companie
  • Investigation into Affairs of the Company

Majority Rule and Minority Rights

  • Law relating to Majority Powers and Minority Rights
  • Shareholder Remedies-Actions by Shareholders; Statutory Remedies; Personal Actions
  • Prevention of Oppression and Mis-Management

Merger, De-merger, Amalgamation, Compromises and Arrangements – An Overview

Producer Companies

  • Concept, Formation, Functioning and Dissolution

Limited Liability Partnerships

  • Concept, Formation, Membership, Functioning and Dissolution

Application of Company Law to Different Sectors

  • Banking
  • Insurance
  • Others

Offences and Penalties

  • Introduction
  • Officer in Default
  • Penalties

Compounding of Offences

Winding up of Companies – An Overview

  • Concept and Modes

Striking Off Name of Companies

An Introduction to E-Governance and XBRL

PAPER 2: COST AND MANAGEMENT ACCOUNTING (100 Marks)

Introduction to Cost and Management Accounting

  • Cost Accounting: Evolution, Meaning, Objectives and Scope
  • Concepts of Costs, Classifications and Elements of Cost
  • Cost Centre and Cost Unit
  • Methods and Techniques of Costing
  • Cost Accounting Standards
  • Installation of a Costing System
  • Practical Difficulties in Installing a Costing System
  • Role of Cost Accountant in Decision Making
  • Management Accounting: Evolution, Meaning, Objectives and Scope
  • Tools and Techniques of Management Accounting
  • Relationship of Cost Accounting, Financial Accounting, Management Accounting and Financial Management
  • Conflicts in Profit versus Value Maximisation Principle
  • Role of Management Accountant in Decision Making

Material Cost

  • Materials Control – Concept and Techniques
  • Procurement Procedures and Documentation: Methods of Purchasing; Procedure of Purchases, Stores and Issue of Material; Stock Verification
  • Methods of Pricing of Material: FIFO, LIFO, Simple Average, Weighted Average
  • Accounting and Control of Material Losses, Wastage, Scrap, Spoilage and Defectives
  • Inventory Management: Techniques of fixing of minimum, maximum and reorder levels, Economic Order Quantity, ABC Analysis; Stock Verification and Perpetual Inventory

Labour Cost

  • Meaning and Classification of Labour Costs
  • Accounting and Control of Labour Costs
  • Time Keeping and Time Booking
  • Attendance and Payroll Procedures, Time Recording, Overtime and Idle Time
  • Labour turnover and Remedial Measures
  • Efficiency Rating Procedures; Remuneration Systems and Incentive Schemes

Direct Expenses and Overheads

  • Direct Expenses: Meaning, Nature, Collection, Classification and Treatment of Direct and Indirect Expenses
  • Overheads: Meaning, Nature, Collection and Classification Functional Analysis: Factory, Administration, Selling, Distribution, Research and Development
  • Behavioural Analysis: Fixed, Variable, Semi variable and Step Cost Allocation, Apportionment, Absorption and Control of Overheads
  • Preparation of Cost Sheet
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Activity Based Costing (ABC)

  • Meaning, Importance, Characteristics
  • Elements and Steps involved
  • ABC vs. Traditional Costing
  • Uses and Limitations

Cost Records

  • Cost Ledgers – Integrated Accounts and Non-Integrated Accounts
  • Reconciliation of Cost and Financial Accounts

Costing Systems

  • Unit and Output Costing
  • Job Costing: Job Cost Cards, Collecting Direct Costs, Allocation of Overheads and its Applications
  • Batch Costing: Features and Applications
  • Contract Costing: Features, Distinction between Job and Contract Costing, Progress Payments, Retention Money, Escalation
  • Clause, Contract Accounts, Accounting for Material, Accounting for Plant Used in a Contract, Contract Profit and Accounting Entries
  • Process Costing: Features, Applications and Types of Process Costing, Process Loss, Abnormal Gains and Losses, Equivalent Units, Inter-Process Profit, Joint Products, By-Products and Accounting
  • Service Costing: Features and Applications, Unit Costing and Multiple Costing, Application, Identification of Cost Unit and Cost Determination and Control

Marginal Costing

  • Meaning, Advantages, Limitations and Applications
  • Breakeven Analysis
  • Cost-Volume Profit Analysis
  • P/V Ratio and its Significance
  • Margin of Safety
  • Absorption Costing: System of Profit Reporting and Stock Valuation
  • Difference between Marginal Costing and Absorption Costing
  • Income Measurement under Marginal Costing and Absorption Costing

Standard Costing

  • Definition, Significance and Applications
  • Various Types of Standards
  • Installation of Standard Costing System-for Material, Labour, and Overhead
  • Variance Analysis for Materials, Labour and Overheads and
  • Accounting Treatment of Variances
  • Benchmarking for Setting of Standards
  • Variance Reporting to Management

Budget, Budgeting and Budgetary Control

  • Budget Concept, Manual
  • Fixed and Flexible Budgets
  • Preparation and Monitoring of Various Types of Budgets
  • Budgetary Control System: Advantages, Limitations and Installation
  • Zero Base Budgeting
  • Programme and Performance Budgeting

Cost Accounting Records and Cost Audit

  • Nature and Scope of Cost Audit
  • Cost Accounting Records and Cost Audit under Companies Act,1956
  • Purpose, Scope and Advantages of Cost Audit
  • Implementing Authorities of Cost Audit
  • Cost Audit Techniques and Programmes
  • Cost Audit Report
  • Cost Auditor – Appointment, Rights and Responsibilities

Analysis and Interpretation of Financial Statements

  • Financial Statements: Nature, Attributes, Objectives, Importance, Limitations
  • Recent Trends in presenting Financial Statements
  • Financial Statements Analysis: Types, Methods, Objectives, Limitations
  • Ratio Analysis: Accounting, Uses, Classification, Advantages, Limitations
  • Cash Flow Statement
  • Fund Flow Statement
  • Difference between Cash Flow and Fund Flow Statement
  • Management Reporting

PAPER 3: ECONOMIC AND COMMERCIAL LAWS (100 Marks)

PART A: (70 Marks)

Foreign Exchange Management

  • Objectives and Definitions under FEMA, 1999
  • Current Account Transactions and Capital Account Transactions
  • FDI Policy
  • Foreign Direct Investment in India and Abroad
  • Acquisition and Transfer of Immovable Property in India and Abroad
  • Establishment of Branch, Office etc. in India
  • Export of Goods and Services
  • Realization and Repatriation of Foreign Exchange
  • Authorized Person
  • Penalties and Enforcement
  • Foreign Contribution (Regulation)Act, 2010
  • Foreign Contributions and Hospitality
  • Exemptions
  • Powers of Central Government
  • Adjudication, Appeal and Compounding
  • Offences and Penalties

Foreign Trade Policy and Procedures

  • Main Features
  • Special Focus Initiatives
  • Served from India Scheme
  • Export Promotion Council
  • Vishesh Krishi and Gram Udyog Yojana
  • Focus Market Scheme; Focus Product Scheme; Duty Exemption and Remission Schemes; Advance Authorization Scheme; DFRC; DEPB; EPCG, etc.
  • EOUs, EHTPs, STPs, BPTs and SEZs

Competition and Consumer Protection

  • Concept of Competition
  • Development of Competition Law
  • Competition Policy
  • Competition Act, 2002 – Anti Competitive Agreements, Abuse of Dominant Position, Combination, Regulation of Combinations, Competition Commission of India; Appearance before Commission and Appellate Tribunal, Compliance of Competition Law
  • Consumer Protection Act, 1986
  • Consumer Protection in India
  • Genesis of the Law and Objects
  • Rights of Consumers
  • Nature and Scope of Remedies
  • Appearance before Consumer Dispute Redressal Forums

Intellectual Property Rights

  • Introduction – GATT, WIPO and TRIPS
  • Concept and Development of Intellectual Property Law in India
  • Law and Procedure Relating to Patents, Trade Marks and Copyrights
  • Geographical Indications
  • Design Act
  • Overview of Laws Relating to Other Intellectual Property Rights
  • Intellectual Property Appellate Board

Law relating to Arbitration and Conciliation

  •  Introduction to UNCITRAL MODEL LAW
  •  Law of Arbitration in India
  •  Types of Arbitration
  •  Appointment of Arbitrators – Procedure
  •  Judicial Intervention
  •  Venue – Commencement
  •  Award – Time limit, Enforceability, Interest
  •  Recourse against Award – Appeals
  •  Conciliation and Compromise
  •  International Commercial Arbitration; Foreign Awards
  •  Arbitration Agencies – ICADR, ICA, Chambers of Commerce, Professional Arbitrators
  •  Alternate Disputes Resolution

Law relating to Transfer of Property

  • Important Definitions
  • Types of Properties
  • Movable and Immovable Property
  • Properties which cannot be Transferred
  • Rule Against Perpetuities
  • Lis Pendens
  • Provisions Relating to Sale
  • Mortgage, Charge, Lease, Gift and Actionable Claim

Law relating to Stamps

  • Methods of Stamping
  • Consequences of Non-Stamping and Under-Stamping
  • Impounding of Instruments
  • Construction of Instruments for Determination of Stamp Duty Payable
  • Adjudication
  • Allowance and Refund
  • Penal Provisions
  • Concept of E-Stamping

Law relating to Contract

  • Contract – Introduction
  • Legality of Objects
  • Standard Form of Contract
  • Multinational Agreement
  • E-Contracts
  • Strategies and Constraints to enforce Contractual Obligations
  • Special Contracts: Indemnity and Guarantee; Bailment and Pledge; Law of Agency

Prevention of Money Laundering

  • Genesis
  • Prevention of Money Laundering Act, 2002
  • Concept and Definitions, Various Transactions, etc.
  • Obligations of Banks and Financial Institutions
  • RBI Guidelines on KYC

PART B: (30 Marks)

Law relating to Essential Commodities, Weights and Measures

  • Overview of Essential Commodities Act, 1955
  • Objects
  • Powers of Central Government
  • Seizure and Confiscation of Essential Commodities
  • Summary Trial
  • The Legal Metrology Act, 2009

Law relating to Societies

  • General Concept Relating to Registration of Societies
  • Property of Societies
  • Suits by and against Societies
  • Enforcement of Judgment against Societies
  • Dissolution of Societies

Law relating to Trusts

  • General Concept relating to Trusts
  • Creation of Trust
  • Duties and Liabilities of Trustees
  • Rights and Powers of Trustees, Disabilities of Trustees
  • Rights and Liabilities of the Beneficiary

Industries Development and Regulation

  • Objects and Definitions
  • An Overview of Industrial Policy
  • Regulatory Mechanism under IDRA
  • The Micro, Small and Medium Enterprises Development Act, 2006

Law relating to Pollution Control and Environmental Protection

  • Concept of Sustainable Development, Bio Diversity and Carbon Credit
  • Government Policy Regarding Environment
  • Law Relating to Prevention and Control of Air Pollution and Water Pollution
  • Environment (Protection) Act, 1986
  • National Green Tribunal
  • Appearance before Environment Tribunal/Authority
  • Public Liability Insurance Act, 1991

Law relating to Registration of Documents

  • Registration of Documents – Compulsory and Optional
  • Time and Place of Registration
  • Consequences of Non-Registration
  • Description of Property
  • Miscellaneous Provisions

PAPER 4: TAX LAWS AND PRACTICE (100 Marks)

Part A: Income Tax and Wealth Tax (70 Marks)

Basics and Definitions – Income Tax Act , 1961

  • Background, Concept and Mechanism of Income Tax
  • Definitions, Concept of Income, Previous Year, Assessment Year, Distinction between Capital and Revenue Receipts and Expenditure, Residential Status
  • Basis of Charge and Scope of Total Income

Incomes which do not form part of Total Income

Computation of Total Income under Various Heads: Salaries, Income from House Property, Profit and Gains of Business or Profession, Capital Gains, Income from Other Sources

Income of Other Persons included in Assessee’s Total Income; Aggregation of Income and Set Off or Carry Forward of Losses; Various Deductions to be made in Computing Total Income, Rebates and Relief’s; Applicable Rates of Taxes and Tax Liability

Taxation of Individuals including Non-Residents, Hindu Undivided Family, Firms, LLP, Association of Persons, Cooperative Societies, Trusts, Charitable and Religious Institution

Classification and Tax Incidence on Companies; Computation of Taxable Income and Assessment of Tax Liability, Dividend Distribution Tax, Minimum Alternate Tax and Other Special Provisions Relating to Companies

Tax Deduction at Source, Tax Collection at Source, Recovery and Refund of Tax; Provisions of Advance Tax

Provisions concerning Procedure for Filing Returns, Signatures, EFiling, Assessment, Reassessment and Settlement of Cases, Special Procedure for Assessment of Search Cases, E-Commerce Transactions, Liability in Special Cases, Collection and Recovery of Tax; Refunds, Appeals and Revisions; Penalties Imposable, Offences and Prosecution

Tax Planning & Tax Management

  • Concept of Tax planning, Tax planning with reference to setting up a New Business; Location; Nature of Business; Tax Holiday, etc. Tax Planning with regard to Specific Management Decisions such as Mergers and Takeovers; Employees’ Remuneration; Voluntary Retirement; Tax Planning with reference to Financial Management Decisions such as Borrowing or Investment Decisions; Reorganization or Restructuring of Capital

Wealth Tax Act, 1956

  • Background, Concept and Charge of Wealth Tax
  • Assets, Deemed Assets and Assets Exempt from Tax
  • Valuation of Assets, Computation of Net Wealth
  • Return of Wealth Tax and Provisions concerning Assessment

Basic Concepts of International Taxation

Residency Issues; Source of Income; Tax Havens; Withholding Tax, Unilateral Relief and Double Taxation Avoidance Agreements Controlled Foreign Corporation, Advance Rulings and Tax Planning, Authority for Advance Rulings

Transfer Pricing

  • Concepts, Meaning of International Transactions
  • Computation of Arm’s Length Price & Methods
  • Documentation and Procedural Aspects

General Anti Avoidance Rules (GAAR)

Part B- Service Tax & Sales Tax (30) Marks

An Overview of Service Tax: Background, Negative List Approach, Taxable Services, Administrative Mechanism, Registration and Procedural Aspects, Rate and Computation of Tax, Levy, Collection and Payment of Service Tax

An Overview of Value Added Tax: Legislative Background, Concept of VAT, Declared Goods, Administrative Mechanism, Registration and Procedural Aspects, Rate and Computation of Tax, Levy, Collection and Payment of VAT

Central Sales Tax; Tax on Inter- State Trade and Exports – Registration, Preparation and Filing of E-Returns, Rates of Tax, Assessment and Refunds

PAPER 5: COMPANY ACCOUNTS AND AUDITING PRACTICES (100 Marks)

PART A: Company Accounts (70 Marks)

Share Capital

  • Issue of Shares: at Par, at Premium, at Discount, on Conversion and for consideration other than Cash; Forfeiture and Re-issue of Shares, Buyback of Shares, Redemption and Conversion of Preference Shares, Bonus Shares, Rights Issue, ESOPs, ESPS, Sweat Equity Shares
  • Alteration of Share Capital
  • Underwriting of Shares

Debentures

  • Issue of Debentures: at Par, at Premium, at Discount and for consideration other than Cash
  • Accounting Treatment and Procedures
  • Redemption of Debentures
  • Conversion of Debentures into Shares

Final Accounts of Companies

  • Conceptual Framework, Preparation and Presentation of Financial Statements, Schedule VI, Interpretation and Scrutiny of Balance sheet
  • Treatment of Profit Prior to Incorporation, Preoperative and Preliminary Expenses
  • Preparation of Final Accounts under Company Law

Corporate Restructuring

  • Concept and Accounting Treatment as per AS
  • Methods of Amalgamations Accounting
  • n The Pooling of Interests Method
  • n The Purchase Method
  • Consideration
  • Treatment of Reserves, Goodwill and Pre- Acquisition & Post Acquisition Profit
  • Accounting in the books of Transferor and Transferee
  • Merger and De-merger
  • Acquisition of Business
  • Internal Reconstruction

Consolidation of Accounts

Holding and Subsidiary Companies – Accounting Treatment, Disclosures and Consolidation of Accounts

Valuation of Shares and Intangible Assets

  • Valuation of Shares, Methods of Valuation, Price Earning Multiple Valuation, Discounted Cash Flow (DCF) Method
  • Valuation of Intangibles: Brand, Goodwill and IPRs

Liquidation of Company

  • Preparation of Statement of Affairs including Deficiency /Surplus Account

Corporate Financial Reporting

  • Various Requirements of Corporate Reporting
  • Value Added Statements: Economic Value Added (EVA), Market Value Added , Shareholders’ Value Added

Accounting Standards

  • Relevance and Significance
  • National and International Accounting Standards and Authorities
  • Adoption, Convergence and Interpretation of International Financial Reporting Standards (IFRS) and Accounting Standards in India

PART B: Auditing Practices (30 Marks)

Auditing Concepts

  • Nature, Scope and Significance of Auditing
  • Basic Principles Governing an Audit
  • Overview of Auditing and Assurance Standards- National and International

Types of Company Audit

  • Statutory Audit
  • Internal Audit
  • Branch Audit
  • Joint Audit
  • Special Audit
  • CAG Audit

Internal Audit

  • Forms of Audit – Propriety Audit, Compliance Audit and Efficiency Audit
  • Nature, Scope and Techniques of Internal Audit; Functions and Responsibilities of Internal Auditors; Organisational Status of Internal Auditing Function, Internal Audit vis-à-vis Statutory Audit

Internal Control

  • Nature, Scope And Elements
  • Internal Control distinguished from Internal Check and Internal Audit
  • Techniques of Internal Control System, Flow Charts, Internal Control Questionnaires
  • Steps for Internal Control and Audit Evaluation
  • Audit Testing – Need For Sampling and Various Approaches to Statistical Sampling
  • Inter-Firm and Intra-Firm Comparisons – Ratio And Trend Analysis; Audit In Depth

Review of Internal Control

  • Review of Purchasing Operations
  • Review of Efficacy of Management Information System
  • Review of Selling and Distribution Policies and Programmes
  • Review of Manufacturing Operations
  • Review of Personnel Policies
  • Appraisal of Management Decisions

Audit Engagement and Documentation

  • Audit Procedures: Audit Plan, Audit Programme, Vouching and Verification
  • Documentation: Audit Working Papers and Files
  • Sampling, Test Checking, Techniques of Test Checks

PAPER 6: CAPITAL MARKET AND SECURITIES LAWS (100 Marks)

Part A: Capital Market (60 Marks)

Overview of Capital Market

  • Indian Capital Market
  • Authorities Governing Capital Markets in India
  • Profile of Securities Market
  • Securities Market Reforms and Regulatory Measures to Promote Investor Confidence
  • Features of Developed Capital Market: IOSCO
  • Overview of Depository System in India

Capital Market Instruments and Rating

  • Capital Market Instruments: Equity, Debentures, Preference Shares, Sweat Equity, Non-Voting Shares, Share Warrants
  • Pure, Hybrid and Derivatives
  • Rating and Grading of Instruments: Concept, Scope and Significance, Regulatory Framework
  • Rating Agencies in India, Rating Methodologies
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Securities Market Intermediaries

Primary Market and Secondary Market Intermediaries: Role and Functions, Merchant Bankers, Stock Brokers, Syndicate Members, Registrars, Underwriters, Bankers to an Issue, Portfolio Managers, Debenture Trustees, Foreign Institutional Investors, Depositories, Depositories Participants, Custodians, Credit Rating Agencies, Venture Capitalists

Market Infrastructure Institutions – Stock Exchanges

  • Functions and Significance of Stock Exchanges
  • Operations and Trading Mechanism of Stock Exchanges
  • Settlement of Securities, Stock Market Indices, Risk Management, Surveillance Mechanism at Stock Exchanges, Straight through Processing
  • Demutualization of Stock Exchanges
  • SME Exchange

Debt Market

  • Debt Market: Instruments, Listing, Primary and Secondary Segment

Money Market

  • Growth of Money Market in India : Structure and Institutional Mechanism
  • Money Market Instruments: Treasury Bills, Commercial Bills, Commercial Paper, Factoring Agreements & Discounting of Bill

Mutual Funds

  • Mutual Fund: Introduction, Definitions, Schemes, Risks Involved, Setting Up of Mutual Funds, Role in Financial Market
  • Advantage of Investment in Mutual Fund
  • Concept of Trustee and Asset Management Company
  • Legal & Regulatory Framework
  • Offer Document, Accounting Valuation & Taxation
  • Investment Management: Equity & Debt Portfolio, Measuring & Evaluating Mutual Fund Performance
  • Investor’s Rights and Obligations

Venture Capital

  • Concept of Venture Capital
  • Registration, Investment Conditions and Restrictions
  • Foreign Venture Capital Investors
  • Private Capital Funds

Collective Investment Schemes

  • Regulatory Framework
  • Restrictions on Business Activities
  • Submission of Information and Documents
  • Trustees and their Obligations

Resource Mobilization in International Capital Market

  • Listing of Securities Issued Outside India
  • n Foreign Currency Convertible Bonds
  • n Global Depository Receipts
  • n American Depository Receipts
  • n External Commercial Borrowings
  • Procedure for Issue of Various Instruments

Indian Depository Receipts

  • Indian Depository Receipts: Procedure for Making Issue of IDRs, Conditions for Issue of IDRs, Listing of IDRs

Part B: Securities Law (40 Marks)

Securities Contracts (Regulation) Act, 1956

SEBI Act, 1992

  • Objective, Power and Functions of SEBI
  • Securities Appellate Tribunal, Appeals, Appearance before SAT

Depositories Act, 1996

  • Definitions, Setting up of Depository, its type, Role and Functions
  • Depository Participants
  • Admission of Securities
  • Difference between Dematerialization & Rematerialisation
  • Depository Process
  • Inspection and Penalties
  • Internal Audit and Concurrent Audit of Depository Participants

Issue and Listing of Securities

  • Listing of Securities
  • Issue of Capital and Disclosure Requirements (ICDR)
  • Procedure for Issue of Various Types of Shares and Debentures
  • Employee Stock Option Scheme and Employee Stock Purchase Scheme
  • Delisting of Securities

Regulatory Framework relating to Securities Market Intermediaries

  • Primary Market and Secondary Market Intermediaries: Role and Functions, Merchant Bankers, Stock Brokers, Syndicate Members, Registrars, Underwriters, Bankers to an Issue, Portfolio Managers, Debenture Trustees, Foreign Institutional Investors, Custodians, Credit Rating Agencies, Venture Capitalists

An Overview of Law relating to Insider Trading and Takeovers

PAPER 7: INDUSTRIAL, LABOUR AND GENERAL LAWS (100 Marks)

Part A: Industrial and Labour Laws (70 Marks)

Factories Act, 1948

  • Object and Scope
  • Application and Major Provisions of the Act

Minimum Wages Act, 1948

  • Object and Scope
  • Application and Major Provision of Minimum Wages Act

Payment of Wages Act, 1936

  • Object and Scope
  • Application and Major Provisions of the Act

Equal Remuneration Act, 1976

  • Object and Scope
  • Application and Major Provisions of the Act

Employees’ State Insurance Act, 1948

  • Object and Scope
  • Application and Major Provisions of the Act

Employees’ Provident Funds and Miscellaneous Provisions Act, 1952

  • Object and Scope
  • Application and Major Provisions of the Act

Payment of Bonus Act, 1965

  • Object and Scope
  • Application and Major Provisions of Payment of Bonus Act

Payment of Gratuity Act, 1972

  • Object and Scope
  • Application and Major Provisions of Payment of Gratuity Act

Employees Compensation Act, 1923

  • Object and Scope
  • Application and Major Provisions of the Act

Contract Labour (Regulation and Abolition) Act, 1970

  • Object and Scope
  • Application and Major Provisions of the Act

Maternity Benefit Act,1961

  • Object and Scope
  • Application and Major Provisions of the Act

Child Labour (Prohibition and Regulation) Act, 1986

  • Object and Scope
  • Application and Major Provisions of the Act

Industrial Employment (Standing Orders) Act, 1946

  • Object and Scope
  • Application and Major Provisions of the Act

Industrial Disputes Act, 1947

  • Object and Scope
  • Application and Major Provisions of the Act

Trade Unions Act, 1926

  • Object and Scope
  • Application and Major Provisions of the Act

The Labour Laws Exemption from Furnishing Returns and Maintaining Register by Certain Establishments Act, 1988

  • Object and Scope
  • Application and Major Provisions of the Act

Employment Exchanges (Compulsory Notification of Vacancies) Act, 1959

  • Object and Scope
  • Application and Major Provisions of the Act

Apprentices Act, 1961

  • Object and Scope
  • Application and Major Provisions of the Act

Labour Audit covering the above Acts and those Industry specific Acts

Part B: General Laws (30 Marks)

Constitution of India

  • Broad Framework of the Constitution of India: Fundamental Rights, Directive Principles of State Policy
  • Ordinance Making Powers of the President and the Governors
  • Legislative Powers of the Union and the States
  • Freedom of Trade, Commerce and Intercourse
  • Constitutional Provisions relating to State Monopoly
  • Judiciary, Writ Jurisdiction of High Courts and the Supreme Court
  • Different Types of Writs – Habeas Corpus, Mandamus, Prohibition, Quo Warranto and Certiorari
  • Concept of Delegated Legislation

Interpretation of Statutes

  • Need for Interpretation of a Statute
  • General Principles of Interpretation
  • Internal and External Aids to Interpretation
  • Primary and Other Rules

An Overview of Law relating to Specific Relief; Limitation and Evidence

Code of Civil Procedure

  • Elementary Knowledge of the Structure of Civil Courts, their Jurisdiction
  • Basic Understanding of Certain Terms – Order, Judgment and Decree, Stay Of Suits, Res Judicata
  • Suits by Companies, Minors
  • Basic Understanding of Summary Proceedings, Appeals, Reference, Review and Revision

Indian Penal Code and Criminal Procedure Code

  • Important Definitions and Salient Features, Mens Rea
  • Cognizable and Non-Cognizable Offences, Bail, Continuing Offences, Searches,
  • Limitation for taking Cognizance of Certain Offences

Right to Information

  • Salient Features of the Right to Information (RTI) Act, 2005
  • Objective
  • Public Authorities & their Obligations
  • Designation of Public Information Officers (PIO) and their Duties
  • Request for Obtaining Information
  • Exemption from Disclosure
  • Who is excluded
  • Information Commissions (Central & State) and their Powers
  • Appellate Authorities
  • Penalties
  • Jurisdiction of Courts
  • Role of Central/State Governments

Few Important Links for CS students

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CS RegistrationCS Previous Year PaperCS Admit Card
CS Exam DatesCS Solved Paper/ Suggested AnswerCS Application Dates

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