CS Executive

How to Prepare CS Executive Corporate & Management Accounting Exam

How to Prepare CS Executive Corporate & Management Accounting Exam

While preparing for CS Examinations, the students are made familiarised with the basics of Cost and Management Accounting concepts. But at the intermediate stage i.e. at the executive stage this subject is introduced for making students aware of the various principles of corporate framework and management techniques.

Knowledge of basics of corporate management is not only important for the CS students for clearing the examination but also it is important from the perspective of understanding the practical implications also.

No doubt that the main role of the Company Secretary is to act as a Compliance Officer of the company. Considering all the importance which this subject holds for any professional student, this subject becomes one of the most important subject of CS Executive examination.

It is the fifth subject of the Module 2 of CS Executive. As we know that CS Executive is the second stage of the professional course of Company Secretary. The executive stage is basically designed to inculcate skills and competence of executive program passed students. 

The reason for inclusion of this important subject in the curriculum is to impart practical understanding of these important financial concepts to the students regarding provisions and applicability of costing principles dealing with the various business entities during course of business as well as the corresponding effect on the economy of the country.

An outline of Company Secretary Courses and Specialisation- Executive Programme Papers

There are 8 papers divided into 2 Modules in CS Executive Programme (wef. 01.03.2018)

Executive Programme [8papers] ( New Syllabus – w.e.f. 1st Mar 2018 )

MODULE 1 (4papers)
1. Jurisprudence, Interpretation & General Laws
2. Company Law
3. Setting Up Of Business Entities And Closure
4. Tax Laws

MODULE 2 (4 papers)
5. Corporate & Management Accounting
6.Securities Laws & Capital Markets
7.Economic, Business And Commercial Laws
8. Financial And Strategic Management

An Overview of the subject

The subject is divided into two parts. Part I of the subject deals with the concepts of Corporate Accounting, Part II deals with Management Accounting and Valuation.

ICSI CS Executive New Syllabus Study Material : Module II

PaperCoverage
Corporate and Management AccountingPart I : To provide knowledge and understanding of the concepts, principles and practices in Corporate Accounting and Indian and International Accounting Standards.

Part II: To acquire knowledge and understanding of the concepts, techniques and practices of management accounting and to develop skills for decision-making and to acquire knowledge of the concepts, principles and methods of valuation.

CS Executive Examination Syllabus of this subject

Before planning the study curriculum, first of all we should know the contents of the subject. Following is the arrangement Of Study Lessons in this subject

Module-II Paper- 5Corporate and Management Accounting1. Introduction to Financial Accounting
2. Introduction to Corporate Accounting
3. Accounting for Share Capital
4. Accounting for Debentures
5. Related Aspects of Company Accounts
6. Financial Statements Interpretation
7. Consolidation of Accounts as per Companies Act, 2013
8. Corporate Financial Reporting
9. Cash Flow Statements
10. Accounting Standards (AS)
11. National And International Accounting Authorities
12. Adoption, Convergence and Interpretation of International Financial Reporting Standards (IFRS) and Accounting Standards In India.
Study Lessons Part II – Management Accounting and Valuation (40 Marks)
13. An Overview of Cost
14. Cost Accounting Records & Cost Audit Under Companies Act, 2013
15. Budget, Budgeting and Budgetary Control
16. Ratio Analysis
17. Management Reporting (Management Information Systems)
18. Decision-Making Tools
19. Valuation Principles & Framework
20. Valuation of Shares, Business And Intangible Assets
21. Accounting for Share-Based Payments (Ind AS 102)
22. Methods of Valuation

Strategy for Preparation

The subject of Corporate and Management Accounting is inherently complicated and is subjected to constant refinement through new corporate developments and strategies.

It, therefore becomes necessary for every student to constantly update himself with the various new developments especially w.r.t. SEBI regulations wherein rules and regulations are made for corporate working. Also students can refer to the Institute’s journal ‘Chartered Secretary’ and e-bulletin as well as other law/professional journals.

  • Understanding the fundamentals of the subject-First of all the students should understand the basic provisions of the all the respective acts, rules & regulations of the subject.
  • Understanding the requirements of the subject-First of all the students should understand the requirement of the paper and subject thoroughly. They should understand the role and responsibilities of the company Secretary while dealing with all the various types of situations mentioned 
  • Analytical Skills required- It is important for the students to concentrate more on analytical skills rather theoretical concepts. The concepts and applications should be thoroughly understood and be related to the practical business problems.
  • Referring recent case studies as posted on the website of the SEBI-While preparing for the examination, the student is required to refer relevant and important recent examples from current affairs happening in and around business.
  • Regular Updation- Update yourself about all the relevant circulars, clarifications, notifications, etc. issued by the MCA, SEBI, Judicial pronouncements, provisions etc on or before six months prior to the date of the respective examinations.
  • Fundamental topics of subject-Last but not the least, the students need to be aware of the fundamentals and key provisions, amendments to the Acts, Powers, features, and functions of the provisions of the acts, especially before the examination.

Now we will make a framework for studying and preparing this subject, chapter wise.

Important topics to be covered
Chapter 1 INTRODUCTION TO FINANCIAL ACCOUNTINGIntroduction 
Definition of Accounting 
Objectives of Accounting 
Function of Accounting 
Book-Keeping 
Accounting Cycle 
Steps/Phases of Accounting Cycle 
Basic Accounting Terms 
Single Entry System 
Double Entry System 
Genesis 
Features of Double Entry System 
Advantages of Double Entry System 
Limitations of Double Entry System 
The Concepts of ‘Account’, ‘Debit’ and ‘Credit’ 
The Concept of Account 
Types of Accounts 
The Accounting Process 
Books of Prime Entry 
Functions of Journal 
Advantages of Journal 
Explanation of Journal 
Sub-division of Journals 
Importance of Sub-division of Journal 
Compound Journal 
Subsidiary Books 
Recording of Cash and Bank Transactions 
Types of Cash Book 
Purchase Day Book 
Sales Day Book 
Other Subsidiary Books – Returns Inward, Return Outward, Bills Receivable, Bills Payable 
Journal Proper
Ledger Accounts 
Ledger Posting 
Posting to Ledger Accounts from Subsidiary Books 
Typical Ledger Account Balances 
Closing Balance and Opening Balance 
Sub-divisions of Ledger 
Advantages of sub-division of Ledger: 
Trial Balance 
Features of a Trial Balance 
Preparation of Trial Balance 
Purpose of a Trial Balance
Forms of a Trial Balance 
Method of Preparation 
Trial Balance – Utility and Interpretation
Chapter 2 INTRODUCTION TO CORPORATE ACCOUNTINGIntroduction 
Preparation and Presentation of Financial Statements 
Schedule III of the Companies Act, 2013 
General Instructions for the preparation of Balance Sheet and Profit and Loss Account 
Presentation of Balance Sheet 
Part-I – Form of Balance Sheet 
Disclosure Requirement: Schedules Forming Part of Financial Statements 
Part II-Form of Statement of Profit and Loss 
General Instructions for preparation of Statement of Profit and Loss 
True and Fair View of Financial Statements
Chapter 3Accounting for Share CapitalUnderstand the share capital structure in the balance sheet of a company.
Discuss the methods and accounting procedure of issue of shares.
Specify the accounting treatment when shares are issued at par, premium and at discount.
Explain the meaning and accounting treatment of forfeiture of shares and reissue thereof.
Understand the accounting procedure of buy-back of shares.
Enumerate the steps for redemption of preference shares.
Appreciate the purpose of issuing Right shares & Bonus shares.
Understand the accounting treatment for ESOPs, ESPS, Sweat Equity Shares.
Understand the meaning of underwriting.
Familiarize with various types of underwriting.
Distinguish between marked application and unmarked applications.
 Determine the liability of underwriters.
Chapter 4 Accounting for DebenturesDebentures 
Kinds of Debentures 
Issue of Debentures 
Conditions for issue of debentures as per Companies Act, 2013 
Difference between debentures and shares: 
Issue of debentures for cash 
Issue of debentures at premium 
Issue of debentures at discount 
Issue of Debentures for Consideration Other Than Cash 
Debentures Issued As a Collateral Security 
Accounting Treatment of Collateral Security 
Debenture Interest 
Interest accrued and due (outstanding interest) 
Interest accrued but not due (accrued interest) 
Accounting entries for issue of debentures (based on conditions of redemption) 
Treatment of Discount/Loss on the Issue Of Debentures 
Redemption of Debentures 
Sources of Redemption 
Debenture Redemption Reserve (DRR) 
Accounting Treatment 
Sinking Fund Method (Debenture Redemption Fund Method) 
Cumulative Sinking Fund 
Non-Cumulative Sinking Fund 
Insurance Policy Method 
Accounting Treatment 
Redemption by Conversion 
Purchase of Debentures in the Open Market 
Purchase of Debentures before the Specified Date of Payment of Interest [Cum-Interest and Ex-Interest Quotations]
Chapter 5 RELATED ASPECTS OF COMPANY ACCOUNTSBuy-Back of Shares 
Transfer of certain sums to capital redemption reserves account (Section 69) 
Prohibition on buy-back in following circumstances (Section 70) 
SEBI (Buy-back of Securities) Regulations, 2018 
Modes of buy-back 
Disclosures, filing requirements and timelines for public announcement and draft letter of offer 
Additional Conditions for Buyback of Shares or Other Securities 
Escrow account 
Advantages of Buy-Back 
Accounting for Buy-Back 
Debentures-Issue and Redemption 
Introduction 
Requirement 
Differences between Shares and Debentures 
Accounting for Debentures 
Issue of Secured Debenture 
Accounting Aspects of Issue debentures 
Issue for Consideration other than Cash 
Debentures issued as Collateral Security 
Discount on the issue of Debenture 
Redemption of Debentures 
Creation of Debenture Redemption Reserve (DRR) Account 
Methods of Redemption of Debentures
Employee Stock Option Plan (ESOP), Employees Stock Option Scheme (ESOS) 
Issue of Employee Stock Options 
Employees Stock Option Scheme (ESOS) 
Equity Shares with Differential Rights 
Explanatory Statement Annexed to Notice 
Underwriting of Shares 
Underwriting Agreement 
Sub-Underwriters 
Underwriting Commission 
Full and Partial Underwriting 
Accounting entries 
Determination of Liability in respect of Underwriting Contract
Chapter 6FINANCIAL STATEMENTS INTERPRETATIONHow are Financial Statements Prepared
Who Issues Financial Statements? 
Different Types of Financial Statements 
Interim Statements 
Annual Statements 
Who Uses Financial Statements and What Are They Used For? 
Financial statement template and form 
Presentation of Financial Statement (Ind AS-1) 
Ind AS 1, Presentation of Financial Statements 
Financial Statements 
Structure and Content 
Other Comprehensive Income 
Current/ non-current distinction 
How to Read and Interpret Financial Statements 
Types of Financial Statements: 
Objectives of Financial Statements: 
Treatment of Special Items during Financial Statements Preparation 
Depreciation Provisions & Reserves
Meaning and Nature of Depreciation: 
Need or objectives of providing Depreciation 
Methods of providing depreciation 
Determination of Managerial Remuneration 
Remuneration allowed to Managerial personnel 
Manner of Determination of Managerial Remuneration 
Maximum amount of Sitting Fees 
Method of Payment of Managerial remuneration 
Remuneration not allowed to Independent Directors 
Recovery of Remuneration received by director in contravention of section 197 of the
Companies Act, 2013 
Fine in case of contravention of provisions of section 197
Corporate Social Responsibility Spend
Role of Board of Directors 
CSR Expenditure 
CSR Reporting 
Related Party Disclosure
Chapter 7 CONSOLIDATION OF ACCOUNTS AS PER COMPANIES ACT, 2013Holding Company 
Subsidiary Company 
Company Includes Body Corporate 
Share-Holding of Holding Company by Subsidiary Company 
Associate company 
Wholly Owned Subsidiary Company 
Partly Owned Subsidiary Company 
Minority Shareholder 
Legal Requirements for a Holding Company 
Consolidated Financial Statements 
Contents and Format of Consolidated Balance Sheet 
Minority Interest 
Consolidated Profit & Loss Account
Goodwill 
Pre-acquisition and post-acquisition Profits/Reserves 
Elimination of inter-company balances and amounts 
Bonus Shares Issued by Subsidiary Company 
Dividend 
Goodwill (Goodwill Appearing in the Balance Sheet of Subsidiary Company)
Chapter 8 CORPORATE FINANCIAL REPORTINGNeed for Corporate Reporting
Disclosure of Significant Accounting Policies
Features of Corporate Financial Reporting 
Recent trends in Corporate Financial Reporting 
Why Corporate Financial Reporting? 
Auditors Report 
Requirements of the Companies Act, 2013 
Boards’ Report 
Companies (Auditor’s Report) Order, 2020 
Corporate Governance 
Definitions of Corporate Governance 
Need of Corporate governance 
Corporate Governance under Companies Act, 2013 
Corporate Governance Report
Value Added Statement
Introduction 
Definition and Background of Value-Added and the Value-Added Statement (VAS) 
Distribution of Gross Value Addition 
Value-Added Statement 
Advantages of Value-Added Statement 
Limitation of Value-Added Statement 
Difference between Value Added and Profit 
Format of Value Added Statement 
Extracts of Value-Added Statement Infosys Annual Report 2011-12 
Extracts of Value Added Statement of Bharat Petroleum Corporation Limited 2010-2011 
Economic Value Added 
How to Calculate Economic Value-Added (EVA) 
What insight does EVA provide about financial performance of a business? 
Corrective Action to Improve EVA 
Advantages of EVA Analysis 
Market Value Added 
Market Value-Added = Company’s total Market Value – Capital Invested 
Shareholder Value Added (SVA) 
Advantages of Adopting SVA 
Limitations of Adopting SVA
Chapter 9 Cash Flow StatementIntroduction to Cash Flow Statement 
Applicability of AS-3 Cash Flow Statements
Meaning of certain terms used in the context of cash Flow Statement 
Sources of Cash 
Internal Sources 
External Sources 
Classification of Cash Flows Statement 
Special Items 
Preparation of A Cash Flow Statement
Reporting Of Cash Flows from Operating Activities 
Direct Method 
Indirect Method 
Format of Cash Flow Statement
Fund Flow Statement 
Difference between Cash Flow Analysis and Funds Flow Analysis 
Utility of Cash Flow Analysis 
Limitations of Cash Flow Analysis
Chapter 10 Accounting StandardsMeaning of Accounting Standards 
Applicability of Accounting Standards 
Standards Setting Process 
Accounting Standard and Auditors 
Accounting Standard and Board’s Report 
Benefits and Limitations 
Advantages of Accounting Standards 
Disadvantages of Accounting Standards 
How many Accounting Standards? 
List of 27 Accounting Standards as issued by ICAI 
Applicability of Accounting Standards 
Requirement to follow Accounting Standards 
Applicability of Accounting Standards for Companies 
Applicability of Ind AS to specified companies
Chapter 11 NATIONAL AND INTERNATIONAL ACCOUNTING AUTHORITIESThe Institute Of Chartered Accountants of India 
The Institute Of Cost Accountants of India 
IFRS foundation 
The IFRS Foundation’s three-tier structure
Trustees of the IFRS Foundation (Trustees)
IFRS Advisory Council (Advisory Council)
Advisory Council members 
How are IFRS Standards set?
International Public Sector Accounting Standards Board (IPSASB) 
Objective of IPSASB 
Financial Reporting Council (FRC) (UK)
European Financial Reporting Advisory Group (EFRAG) 
Role of the EFRAG General Assembly 
Financial Accounting Standards Board (FASB) 
FASB Mission 
American Institute Of Certified Public Accountants (AICPA) 
Australian Accounting Standards Board (AASB) 
AASB Board 
Chartered Accountants Australia and New Zealand (CA ANZ)
Financial Reporting & Assurance Standards Canada (FRAS Canada)
Chartered Professional Accountants Canada (CPA Canada)
Accounting Standards Board of Japan (ASBJ) 
External Reporting Board (XRB), New Zealand
Chapter 12 ADOPTION, CONVERGENCE AND INTERPRETATION OF INTERNATIONAL FINANCIAL REPORTINGSTANDARDS (IFRS) AND ACCOUNTING STANDARDS IN INDIAApplicability of Indian Accounting Standards 
Details of Ind AS
Ind AS 41 Agriculture
Comparison of Indian GAAP, IFRS and Ind AS
Comparison of Ind AS with Existing Indian GAAP 
Comparison of Ind AS with IFRS (International Accounting Standards) 
Comparison of Ind AS with Existing Indian GAAP 
Statement of Cash Flows 
Accounting Policies Changes in Accounting Estimates and Errors 
Comparison of Ind AS with IFRS (International Accounting Standards) 
Income Taxes 
Property Plant and Equipment 
Leases 
Employee Benefits 
Accounting for Government Grants and Disclosure of Government Assistance 
The Effects of Change in Foreign Exchange Rates 
Borrowing Costs 
Related Party Disclosures 
Consolidated and Separate Financial Statements
Investment in Associates 
Financial Instruments Presentation
Earnings Per Share 
Interim Financial Reporting 
Impairment of Assets 
Provisions, Contingent Liabilities and Contingent Assets 
Intangible Assets 
Business Combinations
Non-Current Assets Held for Sale and Discontinued Operations 
Financial Instruments : Disclosures
Chapter 13OVERVIEW OF COSTConcepts of Cost
Key Definitions
Costing 
Cost Accounting 
Cost Accountancy 
Cost Units 
Cost Centres 
Cost Centres in a manufacturing concern 
Cost Objects 
Cost Drivers 
Cost Control 
Cost Reduction 
Importance & Relevance of Cost Accounting
Objectives of Cost & Management Accounting 
Scope of Cost & Management Accounting 
Limitations of Cost Accounting 
Factors to be considered before Installation of a Cost Accounting System 
Elements of Cost 
Material Cost 
Aspects of Material Control 
Objectives of Material Control 
Essentials of Material Control 
Labour Cost 
Classification of Labour Cost 
Accounting and Control of Labour Cost 
Time Recording 
Time-Keeping 
Time-Booking 
Expenses 
Direct Expenses 
Accounting Treatment of Direct Expenses 
Control of Direct Expenses 
Indirect Expenses 
Expenses excluded from costs 
Notional Expenses 
Accounting Treatment of Indirect Expenses 
Overheads 
Collection of Overheads 
Classification of Overheads 
Functional Analysis 
Behavioural Analysis
Chapter 14 COST ACCOUNTING RECORDS & COST AUDIT UNDER COMPANIES ACT, 2013Rule 1: Short Title and Commencement
Rule 2: Definitions 
Cost Record 
Rule 3: Application of Cost Records 
Companies Engaged in the Production of following Goods or providing following Services 
Rule 4: Applicability for Cost Audit 
Rule 5: Maintenance of Cost Records 
Rule 6: Cost Audit 
Purpose of Cost Audit 
Social Purposes of Cost Audit 
CRA-1: Forms in Which Cost Records Shall Be Maintained 
CRA-2: Form of Intimation Of Appointment Of Cost Auditor By The Company To Central Government 
CRA-3: Form of Cost Audit Report 
Annexure to Cost Audit Report 
CRA-4: Form For Filing Cost Audit Report With The Central Government
Chapter 15 BUDGET, BUDGETING AND BUDGETARY CONTROLBudget 
Essentials of Budget 
Forecast and Budget 
Budgeting 
Budgetary Control 
Objectives of Budgetary Control 
Advantages of Budgetary Control 
Limitations of Budgetary Control 
Steps in Budgetary Control
Preparation & Monitoring Of Various Types Of Budgets 
Types of Budgets 
Functional Budgets 
The Final or Master Budget 
Fixed Budgets 
Flexible Budgets 
Preparation of Flexible Budget 
Control Ratios 
Zero-Base Budgeting 
Performance Budgeting 
Budget Variance 
Importance of Budget Variance Analysis 
Limitations of Budget Variance Analysis
Chapter 16 Ratio AnalysisFinancial Statement Analysis
Objective of Financial Statement Analysis 
Need For Financial Statement Analysis 
Users of Financial Statements 
Sources and Techniques of Financial Statement Analysis 
Comparative Statements 
Common Size Statement 
Trend Analysis 
Fund Flow Analysis 
Cash Flow Analysis 
Ratio Analysis 
Objectives of Ratio Analysis 
Advantages of Ratio Analysis 
Limitations of Ratio Analysis 
Classification of Ratios 
Functional Classification 
Financial Ratios 
Short-Term Solvency Ratios/Liquidity Ratios
Chapter 17 MANAGEMENT REPORTING (MANAGEMENT INFORMATION SYSTEMS)Importance of Reporting 
Level of Management and Reporting 
Meaning of Management Reporting 
The Need for Management Reporting 
Challenges in Management Reporting systems 
Essential Components to Management Reporting 
Developing a Successful Management Reporting Programme 
General Principles of Report Presentation 
Forms of Presentation of Information 
Attributes of Information 
Classification of reports 
Forms of Reporting 
Frequency of Reporting
Chapter 18 DECISION MAKING TOOLSMarginal Costing
Features of Marginal Costing 
Formulas Used in Marginal Costing 
Meaning of Contribution 
Contribution and Profit: Distinction 
Advantages of Marginal Costing 
Limitations of Marginal Costing 
Cost-Volume-Profit Analysis 
Cost-Volume-Profit (CVP) Analysis
Techniques of CVP Analysis 
Cost Behaviour and CVP Analysis 
Marginal Cost Equation 
Contribution Margin Analysis 
The Break Even Analysis 
Profit-Volume Ratio 
Significance of Profit-Volume (P/V) Ratio 
Margin of Safety 
Applications of CVP Analysis 
Practical Applications of Marginal Costing 
Key or Limiting Factor Analysis 
Profit Planning 
Selection of Profitable Product Mix 
Make or Buy Decisions 
Introduction of a New Product 
Discontinuance to a Product or Closure of a Department 
Accept or Reject Special Offer and Subcontracting 
Planning of Activity Level 
Market Expansion 
Temporary Cessation of Operations 
Absorption Costing 
System of Profit Reporting 
Stock Valuation 
Income Determination under Marginal Costing and Absorption Costing 
Format of Income Statement (Absorption Costing) 
Absorption Costing and Marginal Costing: Distinction 
Impact of Inflation on Holding of Large Inventories 
Behavioural Considerations in Absorption Costing 
Limiting or Key Factor 
Transfer Pricing 
Objectives of Transfer Pricing 
Transfer Pricing Methods 
Activity-Based Costing 
Introduction 
Meaning of Activity Based Costing (ABC) 
Basics of ABC 
Evolution of activity based costing system 
Distinction between Traditional Absorption Costing and Activity Based Costing 
Objectives of Activity Based Costing
Chapter 19VALUATION, PRINCIPLES AND FRAMEWORKAreas where Valuation is Used
Generally Acceptable Methodologies of Valuation 
Conceptual framework of valuation
Approaches of valuation 
1. Asset Approach 
2. Income or Earning Approach 
Marginal Cost of Capital 
3. Market based approach 
a) Fair Market Value (FMV) 
Indian Accounting Standard (Ind AS) 
Procedures for Issuing Accounting Standards
Ind AS for valuation 
Ind AS 33- Earnings per share 
Ind AS 32 Financial Instrument Presentation 
What is Financial Instrument? 
Scope 
Presentations 
Puttable Instruments
Settlement with Entity’s Own Shares 
Contingent Settlement Provisions 
Interest, Dividends, Gains and Losses
Offsetting a Financial Asset and a Financial Liability 
Ind AS 113 – Fair Value Measurement
Chapter 20 VALUATION OF SHARES, BUSINESS AND INTANGIBLE ASSETSFactors Affecting Valuation of Shares 
Methods of valuation of shares 
Net Asset Method
The Net Asset Method may be written as follows 
Earning Basis Method 
Valuation based on Rate of Dividend 
Valuation based on Rate of Earning 
Fair value of shares 
Valuation of preference shares
Valuation of business 
Three Business Valuation Method
Chapter 21 ACCOUNTING FOR SHARE BASED PAYMENTS (IND AS 102)What Is Share Based Payment (SBP) Transaction & Arrangement ? 
Example of Share-Based Payment Arrangements 
Scope 
Important Concepts of Accounting for Share-based payments 
Grant Date 
Date of Receipt of Goods and Services 
Important Concepts of Accounting for Share-Based Payments 
Timeline of A Share Option Award 
Overview of Equity And Cash Settled – Measurement 
Recognition Principle 
Examples of impact of various conditions 
Share-Based Payment Awards with a Cash Alternative 
Modification, Cancellation or Settlement
Comparison between Ind AS 102 and ICAI Guidance Note on ESOP
Chapter 22METHODS OF VALUATIONMethods of valuation 
Discounted Cash Flow Model (DCF)
Asset Approach 
Earning-Based Model 
Capitalization of Earning Method
Price Earning (P/E) Ratio method 
Measuring Cost of Equity 
Capital Asset Pricing Model (CAPM) 
Systematic Risk or Non-Diversifiable Risk 
Unsystematic Risk or Diversifiable Risk 
Assumptions of CAPM 
Uses of CAPM 
Limitations of CAPM 
Current Validity of CAPM 
An Indicator of Systematic Risk 
Arbitrage Pricing Theory 
Effect of Arbitrage on The Price 
Arbitrage Pricing Theory Assumptions 
Arbitrage Pricing Theory Benefits 
Arbitrage Pricing Theory Limitations 
Comparison Between the CAPM and the APT
Economic Value Added 
How to Calculate Economic Value Added (EVA) 
What insight does EVA provide about financial performance of a business? 
Corrective action to improve EVA 
Advantages of Eva Analysis 
Market Value Added 
Shareholder Value Added (SVA)
Benefits of Adopting SVA 
Drawbacks of Adopting SVA 
Equity Valuation Multiples
Fair Market Value (FMV)

Study Plan

1. Ensure complete understanding of the CS Study Material

2. Start with a proper Time Table

3. Setting targets

4. Analysing the actual performance every week

5. Never Do following-

  • Never go with selective topics
  • Never refer old study material
  • Try to finish your revision beforehand

Some reference books

1. Financial Accounting – A R. Narayanaswamy 4th 2017 PHI Learning Private

Management Perspective Limited

2. Financial Accounting for Ambrish Gupta 5e 2016 Pearson

Management

3. Advanced Accounts M.C. Shukla, T.S. 19/e 2017 S. Chand & Company Ltd

Grewal & S.C. Gupta

4. Company Accounts Dr. S N Maheshwari 5/e 2017 S. Chand & Company Ltd

 & Dr. Suneet K

 Maheshwari

5. Advanced Accountancy S.P. Jain & K. L. 21st 2017 Kalyani Publishers

Corporate Accounting Vol-II Narang

6. Advanced Accountancy S. N. Maheshwari & Vikas Publishing House

S. K. Maheshwari (Pvt.) Ltd

7. Fundamentals of Corporate J. R. Monga 2 Vol 2018 Mayoor Paperbacks

Accounting

8. Corporate Accounting Goel, Maheshwari International Publishers

Gupta

9. Cost & Management Ravi M. Kishore 6th Taxmann

Accounting

10. Advanced Management Rajesh Makkar 2 Vol

Accounting

11. Students’ Guide to D S Rawat 32nd Taxmann

Accounting Standards

(Note: Students are advised to refer to the latest edition of the publication.)

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