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Home » IAS Exam Subjects » Civil Services Syllabus » Indian Commerce

Indian Commerce - Optional

A D V E R T I S E M E N T
>

Commerce Syllabus for Preliminary Examination

Part-I


Accounting and Auditing ;
Accounting
Nature, Scope and Objectives of Accounting-Accounting as an Information System-Users of Accounting Information.
Generally Accepted Principles of Accounting-The Accounting Equation-Accrual Concept-Other concepts and conventions,

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A D V E R T I S E M E N T

Distinction between capital and revenue expenditure. Accounting Standards and their application-Accounting standards relating to fixed assets, depreciation, inventory, recognition of revenue.
Final Accounts of Sole Proprietors, Partnership Firms and Limited Companies-Statutory Provisions -Reserves, Provisions and Funds.
Final Accounts of non profit organization.
Accounting problems related to admission and retirement of a partner and dissolution of a firm.
Accounting for Shares and Debentures- Accounting Treatment of Convertible Debentures.
Analysis and Interpretation of Financial Statements Ratio analysis and interpretation. Ratios relation to short term liquidity, long term solvency and profitability-Importance of the rate of return on investment (ROI) in evaluating the overall performance of a business entity-Cash-flow Statement and Statement of Source and Application of Funds-Societal obligations of Accounting.

Auditing
- Nature, objectives and basic principles of auditing.
- Techniques of Auditing-physical verification, examination of documents and vouching, direct confirmation, analytical review.
- Planning an audit, audit programmes, working papers, audit process.
- Evaluation of internal controls.
- Test checking and sampling.
- Broad outlines of company audit.
- Audit of non-corporate enterprises.
- Internal and management audit.


Part-II

Business Organization

Distinctive features of different forms of business organization.
Sole Proprietor
Partnerships-characteristics, Registration, Partnership deed, Rights and duties, Retirement, Dissolution.
Joint Stock Company-Concept, characteristics, types.
Cooperative and State ownership forms of organizations.
Types of securities and methods of their issue.
Economic functions of the capital market, stock exchanges, Mutual Funds. Control and regulation of capital market.
Business combinations; control of Monopolies. Problems of modernisation of industrial enterprises. Social Responsibility of business.
Foreign Trade-Procedure and financing of import and export trade. Incentives for export promotion. Financing of foreign trade.
Insurance-Principles and practice of Life, Fire, Marine and General Insurance.

Management
Management functions-Planning-strategies, Organising-levels of authority Staffing, Line function and staff function, Leadership, Communication, Motivation, Directing-Principles, Strategies.
Coordination-Concept, types, methods.
Control-principles, performance standards, corrective action. Salary and wage administration-Job evaluation.
Organization Structure-Centralization and decentralization-Delegation of authority-span of control-Management by Objectives and Management by Exception.
Management of change; Crisis Management.
Office Management-scope and principles; systems and routines; handling of records- modern aids to Office management; office equipment and machines; Automation and Personal computers.
Impact of Organization and Methods (O & M)

Company Law
Joint stock companies-incorporation; documents and formalities-Doctrine of indoor management and constructive notice.
Duties and powers of the board of directors of a company.
Accounts and Audit of Companies.
Company Secretary-role and functions-qualifications for appointment.

Commerce Syllabus for Main Examination

Paper-I
Accounting & Finance

Part-I

Accounting, Taxation & Auditing
Financial Accounting
Accounting as a financial information system; Impact of behavioural sciences.
Accounting Standards e.g., accounting for depreciation, inventories, gratuity, research and development costs, long term construction contracts, revenue recognition, fixed assets, contingencies, foreign exchange transactions, investments and government grants.
Advanced problems of company accounts.
Amalgamation absorption and reconstruction of companies.
Valuation of shares and goodwill.

Cost Accounting
Nature and functions of cost accounting.
Job Costing
Process Costing
Marginal Cositng; Techniques of segregating semi-variable costs into fixed and variable costs.
Cost-volume-profit relationship; aid to decision making including pricing decisions, shutdown etc.
Techniques of cost control and cost reduction.
Budgetary control, flexible budgets.
Standard costing and variance analysis.
Responsibility accounting, investment, profit and Cost centres.

Taxation
Definitions
Basis of charge.
Incomes which do not form part of total income.
Simple problems of computation of income under various heads, i.e., salaries, income from house property, profits and gains from business or profession, capital gains, income of other persons included in assessees total income.
Aggregation of income and set off/carry forward of loss.
Deductions to be made in computing total income.

Auditing

Audit of cash transactions, expenses, incomes, purchases, sales.
Valuation and verification of assets with special reference to fixed assets, stocks and debts.
Verification of liabilities.
Audit of limited companies; appointment, removal, powers, duties and liabilities of company auditor, significance of true and fare, MAOCARO report.
Auditors report and qualifications therein.
Special points in the audit of different organisations like clubs, hospitals, colleges, charitable societies.

Part-II
Business Finance and Financial Institutions.

Finance Function-Nature, Scope and Objectives of Financial Management-Risk and Return relationship.
Financial Analysis as a Diagnostic Tool.
Management of Working Capital and its Components-Forecasting working capital needs, inventory, debtors, cash and credit management.
Investment Decisions-Nature and Scope of Capital Budgeting-Various types of decisions including Make or Buy and Lease or Buy-Techniques of Appraisal and their application-
Consideration of Risk and Uncertainty-Analysis of Non-financial Aspects.
Rate of Return on Investments-Required Rate of Return-its measurement-Cost of Capital-Weighted Average Cost-Different Weights.
Concepts of Valuation-Valuation of firms Fixed Income Securities and Common Stocks.
Dividend and Retention Policy-Residual Theory or Dividend Policy-Other Models-Actual Practices.
Capital Structure-Leverages-Significance or Leverages-Theories of Capital Structure with special reference to Modigliani and Miller approach. Planning the Capital Structure of a Company; EBIT-EPS Analysis, Cash-flow ability to service debt, Capital Structure Ratios, other methods.
Raising finance-short term and long term. Bank finance-norms and conditions.
Financial Distress-Approaching BIFR under Sick Industrial Undertakings Act : Concept of Sickness, Potential Sickness, Cash Loss, Erosion of Networth.
Money Markets-the purpose of Money Markets, Money Market in India-Organization and working of Capital markets in India-Organization, Structure and Role of Financial Institutions in India. Banks and Investing Institutions-National and International Financial Institutions-their norms and types of financial assistance provided-inter-bank lending-its regulation, supervision and control. System of Consortium-Supervision and regulation of banks.
Monetary and Credit policy of Reserve Bank of India.

Paper-II
Organization Theory and Industrial Relations

Part-I
Organization Theory
Nature and concept of Organisation-Organisation goals; Primary and secondary goals, Single and multiple goals, ends means chain-Displacement, succession, expansion and multiplication of goals-Formal organization; Type, Structure-Line and Staff, functional matrix, and project-Informal organization-functions and limitations.
Evolution of organization theory : Classical, Neo-classical and system approach-Bureaucracy; Nature and basis of power, sources of power, power structure and politics-Organisational behaviour as a dynamic system : technical, social and power systems-interrelations and interactions-Perception-Status system. Theoretical and empirical foundation of theories and Models of motivation. Morale and productivity-Leadership : Theories and styles-Management of conflicts in organization-Transactional Analysis-Significance of culture to organisations. Limits of rationality-Organisational change, adaptation, growth and development, Professional management Vs. family management, Organisational control and effectiveness.

Part-II
Industrial Relations.
Nature and scope of indsutrial relations, the socio-economic set-up, need for positive approach.
Industrial labor in India and its commitment-stages of commitments. Migratory nature-merits and shortcomings.
Theories of Unionism.
Trade Union movement in India-origin, growth and structure; Attitude and approach of management of India-recognition. Problems before Indian Trade Union movement.
Industrial disputes-sources; strikes and lockouts.
Compulsory adjudication and collective bargaining-approaches.
Workers participation in management-philosophy, rationale; present day state of affairs and future prospects.
Prevention and settlement of industrial disputes in India.
Industrial relations in Public Enterprises.
Absenteeism and labor turnover in Indian Industries-causes
Relative wages and wage differentials; wage policy.
Wage policy in India; the Bonus issue.
I.L.O. and India;
Role of Personnel Department in the Organization.




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