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How To Clear CS Executive – Module-2

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The CS-Executive or the intermediary stage consists of 2 modules, which comprises of 4 papers in each module. A candidate who has registered for the Executive program can attempt both modules of the exam in the same period or attempt each module in one period, that either during December of the same year or in June of the next year. This article intends to help the candidate to clear the Group-2 or the second module of the Executive level of the CS course. One can refer to the article – How to clear CS-Intermediary Group 1 for tips on clearing the 1st module of the Executive level.

The CS Executive – Group 2 consists of the 4 subjects and now, let us discuss how to clear all the four subjects one by one:

  1. How to clear Paper 5 – Corporate and Management Accounting
  2. How to clear Paper 6 – Securities Laws & Capital Markets
  3. How to clear Paper 7 – Economic, Business and Commercial Laws
  4. How to clear Paper 8 – Financial and Strategic Management

How to clear – Corporate and Management Accounting

The following are some tips for clearing the paper with ease.

From December 2019, this paper will be of MCQ based questions with a negative marking of .25 for every wrong answer. The paper is divided into 2 main parts – the Corporate Accounting, which constitutes for 60 marks of the total and the other is Management Accounting and Valuation, which constitutes the remaining 40 marks of the paper.

Based on the previous question papers and important perspective, we may prioritise the following topics of the syllabus–

First priority:

  • Theory of Accounting & Auditing
  • Consolidation
  • Accounting Standards (AS) / IndAS
  • Valuation Principles and Framework
  • Valuation of Shares, Business and Intangible Assets
  • Overview of Cost, Cost Accounting
  • Management Information Systems (Management Reporting)
  • Ratio Analysis

Second priority:

  • Issue of shares, the redemption of shares
  • Buyback
  • Underwriting
  • Cash-flow statements
  • Final Accounts
  • Cost Sheet
  • Budgetary Control
  • Marginal Costing & Managerial Decision-making
  • Accounting for share-based payments

Third Priority:

  • Redemption of Preference shares
  • Managerial Remuneration

A candidate who has no prior experience with accounting might require good guidance from external sources. This could either be good classroom training on Accounting or online video lectures on the subject. Having said this, it does not mean that it is impossible to self-learn the concepts, but the key lies in time management and smart work as well.

This is a subject that requires a lot of practice. Solve many problems for your practice and prepare the various financial statements including consolidated Balance sheets, Profit and Loss Accounts along with adjustments, cost of control, goodwill calculation, etc.

How to clear – Securities Laws & Capital Markets

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The paper is divided into two parts Securities Laws, which constitutes for 70 marks, and Capital Market and Intermediaries, which constitutes for 30 marks. This paper is of descriptive nature and hence requires a lot of writing practice. Never procrastinate the answer writing towards the end of your preparation. Always have a periodic schedule for practising previous year question papers. The syllabus mainly comprises of the features, rules and regulations of the SEBI.

Based on the previous question papers and important perspective, we may prioritise the following topics of the syllabus–

First priority:

  • SEBI (ICDR) Regulations, 2018
  • SEBI (SAST) Regulations, 2011
  • Structure of Capital Market
  • Securities Market Intermediaries

Second priority:

  • SEBI (LODR) Regulations, 2015
  • SEBI (PIT) Regulations, 2015
  • Mutual Funds
  • Securities Contracts (Regulations) Act, 1956
  • SEBI (Share-based Employee Benefits) Regulations, 2014
  • SEBI (Ombudsman) Regulations, 2003

Third Priority:

  • Securities and Exchange Board of India Act, 1992
  • Depositors Act, 1996
  • SEBI (Delisting of Equity Shares) Regulations, 2009
  • Collective Investments Schemes
  • SEBI (Buy-back of Securities) Regulations, 2018
  • SEBI (Issue of Sweat Equity) Regulations, 2002

It is advised by certain toppers to finish the second part and then the first part of the syllabus. Seek help from persons who are well versed in the subject if you find it difficult to do self-study.

Certain books like the Capital Market & Security Law by Anoop Jain is frequently recommended by toppers for this subject.

How to clear – Economic, Business and Commercial Laws

This paper is divided into 3 partsForeign Exchange Management and NBFCs, constituting 40 marks of the paper; Competition law, which makes 25 marks; and Business and Commercial Laws, which constitutes for 35 marks of the total. Prepare a lot from the case studies of the Supreme Court and High Courts of India.

Based on the previous question papers and important perspective, we may prioritise the following topics of the syllabus–

First priority:

  • Competition Act, 2002
  • Special Economic Zones Act, 2005

Second Priority:

  • Foreign Exchange transactions and Compliances
  • FDI – Regulations and Policy
  • Overseas Direct Investments
  • Non-Banking Finance Companies
  • Transfer of Property Act, 1882
  • Negotiable Instruments Act, 1861
  • Reserve Bank of India Act, 1934
  • Foreign Exchange Management Act, 1999
  • Foreign Trade Policy and Procedure
  • Consumer Protection Act, 1986
  • Indian Contracts Act, 1872
  • Specific Relief Act, 1963
  • Sale of Goods Act, 1930

Third Priority:

  • Foreign Contribution (Regulation) Act, 2010
  • Liberalised Remittance Scheme
  • External Commercial Borrowings (ECB)
  • Essential Commodities Act, 1955
  • Legal Metrology Act, 2009
  • Real Estate (Regulation and Development) Act, 2016
  • Benami Transaction Prohibitions (Act)
  • Prevention of Money Laundering
  • Partnership Act, 1932
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Prepare yourself with the model question papers provided by ICSI. Quote relevant examples and sections wherever possible in your answer as it can help boost up your marks. But remember that wrong sections may reduce your marks and hence it is quite important to quote them only if you are sure and thorough. Make good use of online video lectures (and classroom coaching) for the subject.

Allot at least 10 days towards the end for revision.

Keep yourself updated with news and facts from the official websites of the RBI, CCI, DIPP, Controller of Patents, Pollution Control Board Circulars, etc.

How to clear – Financial and Strategic Management

This paper will be of MCQ based pattern from December 2019 examination onwards, with a negative marking of 0.25 for every wrong answer. The paper comprises of Financial Management making 60 marks of the paper and Strategic Management making 40 marks of the paper.

First priority:

  • Capital Budgeting
  • Working Capital
  • Portfolio Management
  • Dividend Policy
  • Introduction to Management
  • Introduction to Strategic Management
  • Business Policy and Formulation of Functional Strategy
  • Strategy Analysis and Planning
  • Strategic Implementation and Control
  • Analysing Strategic Edge

Second Priority:

  • Nature, Significance and Scope of Financial Management
  • Capital Structure
  • Cost of Capital
  • Leverages

Third Priority:

  • Project Finance
  • Security Analysis

Those candidates who have some background in Finance and Management find this paper to their advantage. This could form a brush-up of their knowledge. Prepare well from the basic concepts and build a strong foundation so that the subject becomes easy on proceeding with the syllabus. Learn the smaller and easier chapters first since they collectively contribute a large portion of the question paper.

Since it is of MCQ based, be through with the formulae and definitions clearly as there could be options with the nearly the same meaning but not the accurate one.

Essentially, a candidate following a well-structured study-plan, highly disciplined and smart strategies and having a keen focus on their ultimate goals can easily crack the CS Course Intermediary Group-2 exam.

You can watch a few demo lectures by SuperProfs for CS and see if you would want to consider subscribing to our video series for a better shot at clearing the CS examination.

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