ICWA Complete Syllabus

8/12/2019 ICWA Complete Syllabus

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ICWA Foundation Course (New syllabus 2008) T STRATEGY

Paper 1 : Organization & Management Fundamentals

Objective

To gain basic knowledge in Organizational Management

To understand the concept o business management at the macro le!el

ection I : Organization !"#

1$ %ature and Functional Areas o Organization 1"#

Organizational structures" #unctional areas o business and their operations" $cti!ities o

di erent unctions" #ormal % in ormal organizations& principles o organizations"

'riteria or grouping

2 c'ools o Organizational t'eor( 1"#

'lassical beha!ioural and systems" 'urrent trend and approaches" *eha!iour in organizations"

+ole o beha!ioural science

, Organizational Management 1"#

Ob-ecti!es ( missions goals and targets)" 'on licts between ob-ecti!es" $ppropriate

strategy ormulation" .eterminants o culture" .i erent models a!ailable or categorizing cultures"

.i erent models o organizational model management a!ailable to achie!e goal congruence

ection II : Management )"#

*$ +uman resource management ,"#

/uman resource plan" /uman issues relating to recruitment dismissal retirement and redundancy"

Models o /uman *eha!iour and Moti!ation and its applications (Taylor Mc regor Maslow

/ertzberg etc)" Training % de!elopment" .e!elopment and design o reward system

-$ Management o .elations'ip ,"#

1rocess o Management co!ering planning organizing sta ing directing moti!ating communicating

and control" 'oncept o power authority responsibility and delegation" 'haracteristics o leaders

and managers Management tyle theories" 'ontingency approach


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/$ Management o C'ange 1-#

tages % 1rocess o Management change" tructural change % 'ultural change" $pproaches to

the management o organizational de!elopment" 3mportance o managing critical period o change"

4ays o handling these periods o change

)$ Pattern o Management 1-#

*road policies and unctions" tructural pattern o *oard o .irectors " 'oncept o public sector

social ob-ecti!es public sector management" 'urrent management thoughts

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Paper ,: Accounting 0One Paper: ! 'ours:1"" mar s2

Objectives

To understand undamental accounting principles

To understand basic concept o cost accounting

1$ 3asics o 3oo eeping and accounting 1"#

.e initions and its use ulness" #inancial $ccounting principles concept and con!ention 5

measurement o business income" 1osition statement" $ccounting tandards 5 national

and international ( basic knowledge)

,$ (stems o 3oo eeping 1"#

.ouble entry system books o prime entry subsidiary books" +ecording o cash and *ank transactions"

1reparation o ledger accounts" 1reparation o trial balance 5 interpretation and use ulness

!$ 3an .econciliation statements -#

Need or reconciliation between cashbook and bank pass book and problems relating to the

preparation o bank reconciliation statements

*$ Accounting (stem ,-#

'oncept o capital re!enue de erred re!enue e6penditures opening entries closing entries

ad-ustment entries and recti ication entries" $ccounting treatment or bad debts reser!e or

bad debts and other ad-usting entries" .epreciation7 signi icance accounting and !arious methods


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o calculation o depreciation" 'oncept o single entry system con!ersion o single entry system

into double entry system o accounting" 1reparation o receipts and payments accounts income

and e6penditure accounts" igni icance o reser!es and pro!isions" *ill o 6change consignment

and -oint !enture

- $ 4lements o Cost Accounting 1-#

*asics o cost and management accounting" !olution o cost accounting and management

accounting cost concepts and cost ob-ect" 'ost classi ication cost organization and its relationship

with other departments" lements o cost and cost determination"

Material cost7purchase procedure store keeping and stock control pricing issue o material

and accounting thereo perpetual in!entory and physical stock taking identi ication o slow

non7mo!ing and ast mo!ing items $*' analysis 93T system le!el o in!entories and economic

order :uantity analysis in!estigation and correcti!e steps or treatment o stock discrepancies 5

control through other means

;abour costs 5 remuneration methods monetary and non7monetary incenti!e schemes

payroll procedures labour analysis and idle time measurement o labour e iciency and

producti!ity analysis o non producti!e time and its cost labour turno!er and remedial

measures treatment o idle time and o!ertime

.irect e6penses 5 nature collection classi ication and treatment o direct e6penses

O!erheads 5 nature collection and classi ication

1roduction o!erheads 5 collection apportionment absorption use o predetermined

reco!ery rates treatment o under and o!er absorption i6ed !ariable and semi !ariable

o!erhead report or control o o!erhead cost

$dministration selling and distribution o!erheads 5 analysis accounting and control

treatment o miscellaneous items in cost accounting

/$ Cost 'eets 1-#

'ost data collection" 'ost heet ormats" 1reparation o cost sheets


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)$ 3e'aviour o Costs ,"#

#i6ed %


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.e inition" #unctions and utility o *anking" 1rinciple o commercial banking" ssentials o

sound banking system" Multiple credit creation" #unctions o 'entral *ank" 4eapons o credit control

and money market" National % 3nternational #inancial 3nstitutions

)$ International 5rade -#

*asic eature o e6port and import" 'ompetiti!e ad!antage o trade

6$ Public Finance 1"#

.irect and indirect ta6es" 1rinciple o ta6ation" ect o ta6ation on production and distribution"

.e icit inancing system

3$ 3usiness Fundamentals 0*" mar s2

7$ 5(pe o 3usiness 8nit 1"#

ole proprietorship 1artnership 'ompanies 'ooperati!es" /indu =ndi!ided #amily"

9oint tock 'ompanies" public =tilities ser!ices" tate nterprises" ;imited ;iability 1artnership

1"$ Compan( Organization and Management 1"#

Types o companies and their ormation" 3ncorporation and commencement o business"

Memorandum o $ssociation $rticles o $ssociation and 1rospectus" hares and debentures"

*oard o .irectors and eneral Meeting

11$ 3usiness Objectives -#

'oncept and rationale o social responsibility" *usiness and its en!ironment inter ace with

legal political economic social and cultural aspects

1,$ toc 49c'ange and its or ings 1"#

.ealers and brokers transactions" conomic signi icance condition o membership"

+ole o stock e6changes .epository participant

1!$ 3usiness Communication and .eport Writing -#

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Paper *: 3usiness Mat'ematics and tatistics Fundamentals 0One Paper: ! 'ours:1""mar s2

Objectives:


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To understand basic concepts in mathematics and statistics which are applied in the

management science

1$ Arit'metic 1"#

$!erage mi6tures" +atios and proportions" 'omputation o interest" .iscounting o bills

,$ Algebra 1-#

+eal and imaginary number rational and irrational number" et theory and simple application o

uadratic e:uations" olution o linear ine:ualities ( by geometric method only)

!$ Mensuration 1-#

$rea and perimeter o triangles circles parallelogram regular polygon"


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ICWA Intermediate Course: epartmental Accounts 1"#

*ranch accounts7 .ebtors system tock % .ebtors system #oreign *ranch

Treatment o shortages" 'alculation o net pro it o !arious departments and allocation o e6penses

on suitable basis" 1reparation o common balance sheet Treatment o =nrealized pro it

/$ Accounting tandards 1"#

$pplicability o a particular accounting standard" 3nterpretation o !arious accounting standards"

cope o accounting standards" 'ompliance with the $ccounting tandards


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Nature and scope o internal auditing inancial !ersus operational audit" concepts o e iciency

audit propriety audit" !oucher audit compliance audit pre and post audits" '$+O" $udit +eport"

3nternal auditing unction" 1lanning and process o internal audit"


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rom other sources income rom business and pro ession problems arising rom aggregation o

income and set o and carry orward o losses" 'omputation o income and +eturn o 3ncome Ta6

#iling procedure 1rinciples o !aluation o mo!able and immo!able property $d!ance payment o Ta6

.eduction and collection o ta6 at source" ta6 incenti!es and e6port promotion schemes other

bene its and ta6 e6emptions" $ssessment appeals re!isions re!iew recti ication and application

to 'entral *oard o .irect Ta6es" 1enalties #ines and prosecution" +e unds" ecurities Transaction Ta6

#ringe *ene it Ta6" *anking 'ash Transaction Ta6" 4ealth Ta6

, Practical problems and case studies under >irect 5a9es$ -"#

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!$ >ecision Ma ing 5ools ,"#

Marginal costing break e!en analysis and its applications in decision making" $bsorption costing

as a system o pro it reporting and stock !aluation" Throughput accounting as a system o

pro it reporting and stock !aluation" $cti!ity7based costing or pro it reporting and stock !aluation "

3ntegration o standard costing with marginal cost accounting absorption cost accounting and

Throughput accounting" 1rocess costing including establishment o e:ui!alent units in stock

work7in7progress and abnormal loss accounts and use o !arious methods like irst7in7 irst7out

a!erage cost and standard cost methods o stock !aluation

*$ 3udgeting 1-#

*udget 'oncepts and 1reparation" #i6ed and #le6ible *udgets" Time series analysis including

mo!ing totals and a!erages treatment o seasonality trend analysis using regression analysis and

the application o these techni:ues in orecasting product and ser!ice !olumes #i6ed !ariable

semi7!ariable and acti!ity7based categorizations o cost and their application in pro-ecting

inancial results" Dero base budgeting

-$ tandard Costing 1-#

Manu acturing standards or material labour and o!erhead" 1riceErate and usageEe iciency

!ariances or materials labour and o!erhead #urther subdi!ision o total usageEe iciency !ariances

into mi6 and yield components" #i6ed o!erhead !ariances" 1lanning and operational !ariances

ales price and sales re!enueEmargin !olume !ariances (calculation o the latter on a unit basis

related to re!enue gross margin and contribution margin) $pplication o these !ariances to all

sectors including pro essional ser!ices and retail analysis" 3nterpretation o !ariances&

interrelationship signi icance" *enchmarking or setting standards

/$ Costing and per ormance management 1"#

*usiness per ormance measurement or per ormance impro!ement

)$ .ecent trends in cost and Management Accounting -#

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Paper 7: Operation Management and In ormation (stems 0One Paper: ! 'ours:1""mar s2

Objective:

To gain knowledge o Operation Management 1roduction planning and resource management

To de!elop understanding o 3n ormation Technology and its use in business en!ironment

A$ Operation Management 0 -" mar s2

1$ Overvie o Production Process @A F

#abrication process" Metal working process 5 orming heat treatment welding sur ace treatment etc

Machining process" 'lass o machine 5 ;athes drilling grinding milling planing shaping slotting etc

pecial purpose machine 5 special grinding hobbing honing cutting tools -igs and i6tures etc

1ump motor trans ormer electrical dri!es" 'lassi ication o industries based on production process

Technological aspects o di erent production process like power pollution control reco!ery process

1lant layout material handling system etc

2 Production Planning & Productivit( management @AF

Time study work study method study 9ob !aluation" 1roduction planning and control73ntroduction

#orecasting" 'apacity planning and =tilization" 1rocess planning" 1ro-ect planning" 1rogressing

and ollow7up" .espatching" cheduling Techni:ue % ;ine *alancing 1roblem" conomic

batch production" /uman +esource 1lanning" Material +e:uirement 1lanning" 1roducti!ity

measurement techni:ues o actors o production" >uality 'ontrol

, Maintenance Management @0F

Obsolescence replacement o machinery" *reakdown maintenance pre!enti!e maintenance %

+outine Maintenance Maintenance Techni:ues" Maintenance organization" Maintenance

problems etc

*$ .esource Management @0F

3nput7output ratio" ;inear programming" Transportation" +eplacement o machine" 'hange o

Technology and its implication

3$ In ormation (stems 0 -" mar s2


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1$ In ormation (stem Anal(sis and >esign$ 1"#

3n ormation ystem7 ystems de!elopment li e cycle tructured ystems $nalysis and .esign

1hysical and ;ogical" .ata #low .iagrams +e:uirements $nalysis .esign o New ystems

.ata Modeling data dictionary entity relationship diagram structure charts Trans orm and

Transaction $nalysis $pplications in #inancial % 'ost Management

,$ >atabase Management (stems 1-#

#ile % .ata *ase 'oncept O!er!iew o .*M .ata Models .atabase $dministrator .atabase

=sers chema " .ata 3ndependence +elational .atabase Management ystem (+.*M )

some applications o +.*M using Oracle % >; er!er

!$ Management In ormation (stems 0MI 2 1-#

3ntroduction 1eople % Organization ystem % models .ecision process and e!aluation

thereo transaction processing % management reporting M3 in unctional areas& #inance %

'ost Management 3n!entory Marketing" /+M

*$ 4nterprise .esource Planning 04.P2 1"#

#unctional architecture o +1 Material re:uirement planning % +1 *usiness 1rocess

+eengineering % +1" upply chain management ome applications in!ol!ing $1 %

Oracle (#inancial) 'hange Management and +1 3mplementations Technology and

3nternational 'onsiderations in implementation o +1

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Paper 1": Applied Indirect 5a9es 0One Paper: ! 'ours:1"" mar s2

Objectives:

To gain knowledge o !arious pro!isions o 'entral 6cise er!ice ta6


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rele!ant procedures

,$ Central 49cise ,-#

T he 'entral 6cise ;aw" oods 6cisable goods Manu acture and manu acturer

'lassi ication


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ICWA Intermediate Course: epartmental Accounts 1"#

*ranch accounts7 .ebtors system tock % .ebtors system #oreign *ranch

Treatment o shortages" 'alculation o net pro it o !arious departments and allocation o e6penses

on suitable basis" 1reparation o common balance sheet Treatment o =nrealized pro it

/$ Accounting tandards 1"#

$pplicability o a particular accounting standard" 3nterpretation o !arious accounting standards"

cope o accounting standards" 'ompliance with the $ccounting tandards


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)$ ?oint toc Companies ,"#

3ssues o shares at par discount % premium or eiture reissue o shares" *onus issue and right issue"

*uy back o shares" +edemption o 1re erence o shares" 1ro it prior to incorporation"

3ssue and redemption o debentures

6$ Preparation o Compan( Accounts

1reparation o #inal $ccounts under 'ompany ;aw

? Accounting services in organizations 1"#

'onstruction companies 1ro-ect $ccounting" er!ice sector such as o tware

3T Telecommunication ntertainment /ospital educational institutions"

*anking lectricity and 3nsurance companies

1"$ Accounting and Interpretation o Financial tatements$ 1"#

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Paper /: Commercial & Industrial @a s and Auditing 0One Paper: ! 'ours:1"" mar s2

Objectives

To gain knowledge o some o important commercial and industrial laws related to business

To gain working knowledge o the principles and practice o auditing and their !arious applications

A$ Commercial & Industrial @a 0 -" mar s2

@ @a s o Contracts 1-#

ssential elements o a !alid simple contract" ;egal status o the !arious types o statements which

may be made by negotiating parties n orceable o ers and acceptances and the application o

the rules to standard orm contracts and modern orms o communication Meaning and importance

o consideration" 1rinciples or establishing that the parties intend their agreement to ha!e

contractual orce" /ow a contract is a ected by a misrepresentation" 'onditions and warranties"

Manner in which law controls use o e6clusion clauses and un air terms in consumer and

non7consumer transactions" ;e!el o per ormance su icient to discharge contractual obligations"


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Nature and scope o internal auditing inancial !ersus operational audit" concepts o e iciency

audit propriety audit" !oucher audit compliance audit pre and post audits" '$+O" $udit +eport"

3nternal auditing unction" 1lanning and process o internal audit"


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rom other sources income rom business and pro ession problems arising rom aggregation o

income and set o and carry orward o losses" 'omputation o income and +eturn o 3ncome Ta6

#iling procedure 1rinciples o !aluation o mo!able and immo!able property $d!ance payment o Ta6

.eduction and collection o ta6 at source" ta6 incenti!es and e6port promotion schemes other

bene its and ta6 e6emptions" $ssessment appeals re!isions re!iew recti ication and application

to 'entral *oard o .irect Ta6es" 1enalties #ines and prosecution" +e unds" ecurities Transaction Ta6

#ringe *ene it Ta6" *anking 'ash Transaction Ta6" 4ealth Ta6

, Practical problems and case studies under >irect 5a9es$ -"#

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!$ >ecision Ma ing 5ools ,"#

Marginal costing break e!en analysis and its applications in decision making" $bsorption costing

as a system o pro it reporting and stock !aluation" Throughput accounting as a system o

pro it reporting and stock !aluation" $cti!ity7based costing or pro it reporting and stock !aluation "

3ntegration o standard costing with marginal cost accounting absorption cost accounting and

Throughput accounting" 1rocess costing including establishment o e:ui!alent units in stock

work7in7progress and abnormal loss accounts and use o !arious methods like irst7in7 irst7out

a!erage cost and standard cost methods o stock !aluation

*$ 3udgeting 1-#

*udget 'oncepts and 1reparation" #i6ed and #le6ible *udgets" Time series analysis including

mo!ing totals and a!erages treatment o seasonality trend analysis using regression analysis and

the application o these techni:ues in orecasting product and ser!ice !olumes #i6ed !ariable

semi7!ariable and acti!ity7based categorizations o cost and their application in pro-ecting

inancial results" Dero base budgeting

-$ tandard Costing 1-#

Manu acturing standards or material labour and o!erhead" 1riceErate and usageEe iciency

!ariances or materials labour and o!erhead #urther subdi!ision o total usageEe iciency !ariances

into mi6 and yield components" #i6ed o!erhead !ariances" 1lanning and operational !ariances

ales price and sales re!enueEmargin !olume !ariances (calculation o the latter on a unit basis

related to re!enue gross margin and contribution margin) $pplication o these !ariances to all

sectors including pro essional ser!ices and retail analysis" 3nterpretation o !ariances&

interrelationship signi icance" *enchmarking or setting standards

/$ Costing and per ormance management 1"#

*usiness per ormance measurement or per ormance impro!ement

)$ .ecent trends in cost and Management Accounting -#

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Paper 7: Operation Management and In ormation (stems 0One Paper: ! 'ours:1""mar s2

Objective:

To gain knowledge o Operation Management 1roduction planning and resource management

To de!elop understanding o 3n ormation Technology and its use in business en!ironment

A$ Operation Management 0 -" mar s2

1$ Overvie o Production Process @A F

#abrication process" Metal working process 5 orming heat treatment welding sur ace treatment etc

Machining process" 'lass o machine 5 ;athes drilling grinding milling planing shaping slotting etc

pecial purpose machine 5 special grinding hobbing honing cutting tools -igs and i6tures etc

1ump motor trans ormer electrical dri!es" 'lassi ication o industries based on production process

Technological aspects o di erent production process like power pollution control reco!ery process

1lant layout material handling system etc

2 Production Planning & Productivit( management @AF

Time study work study method study 9ob !aluation" 1roduction planning and control73ntroduction

#orecasting" 'apacity planning and =tilization" 1rocess planning" 1ro-ect planning" 1rogressing

and ollow7up" .espatching" cheduling Techni:ue % ;ine *alancing 1roblem" conomic

batch production" /uman +esource 1lanning" Material +e:uirement 1lanning" 1roducti!ity

measurement techni:ues o actors o production" >uality 'ontrol

, Maintenance Management @0F

Obsolescence replacement o machinery" *reakdown maintenance pre!enti!e maintenance %

+outine Maintenance Maintenance Techni:ues" Maintenance organization" Maintenance

problems etc

*$ .esource Management @0F

3nput7output ratio" ;inear programming" Transportation" +eplacement o machine" 'hange o

Technology and its implication

3$ In ormation (stems 0 -" mar s2


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1$ In ormation (stem Anal(sis and >esign$ 1"#

3n ormation ystem7 ystems de!elopment li e cycle tructured ystems $nalysis and .esign

1hysical and ;ogical" .ata #low .iagrams +e:uirements $nalysis .esign o New ystems

.ata Modeling data dictionary entity relationship diagram structure charts Trans orm and

Transaction $nalysis $pplications in #inancial % 'ost Management

,$ >atabase Management (stems 1-#

#ile % .ata *ase 'oncept O!er!iew o .*M .ata Models .atabase $dministrator .atabase

=sers chema " .ata 3ndependence +elational .atabase Management ystem (+.*M )

some applications o +.*M using Oracle % >; er!er

!$ Management In ormation (stems 0MI 2 1-#

3ntroduction 1eople % Organization ystem % models .ecision process and e!aluation

thereo transaction processing % management reporting M3 in unctional areas& #inance %

'ost Management 3n!entory Marketing" /+M

*$ 4nterprise .esource Planning 04.P2 1"#

#unctional architecture o +1 Material re:uirement planning % +1 *usiness 1rocess

+eengineering % +1" upply chain management ome applications in!ol!ing $1 %

Oracle (#inancial) 'hange Management and +1 3mplementations Technology and

3nternational 'onsiderations in implementation o +1

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Paper 1": Applied Indirect 5a9es 0One Paper: ! 'ours:1"" mar s2

Objectives:

To gain knowledge o !arious pro!isions o 'entral 6cise er!ice ta6


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rele!ant procedures

,$ Central 49cise ,-#

T he 'entral 6cise ;aw" oods 6cisable goods Manu acture and manu acturer

'lassi ication


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ICWA Final Course:


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oing 'oncern status7 inancial and other indicators role o management audit e!aluation o

going concern uncertainties" +elated party transactions and disclosures" 1ro-ect management

audit and corporate go!ernance" +ele!ance o +isk !aluation and +isk management"

!aluation o key inancial decisions and disclosures" Management $udit or in!estorsH protection

in the conte6t o 'orporate o!ernance" 'orporate o!ernance Norms as prescribed by *3

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Paper 1,: Financial Management & International Finance 0One Paper: ! 'ours:1""mar s2

Objectives:

=nderstand the scope goals and ob-ecti!es o #inancial Management

To pro!ide e6pert knowledge on concepts methods and procedures in!ol!ed in using

#inancial Management or managerial decision7making

To gain knowledge o international monetary and inancial system

1$ Overvie o Financial Management 1" #

#inance and +elated .isciplines" cope o #inancial Management" 1lanning en!ironment"

Iey decisions o #inancial Management" merging role o inance managers in 3ndia"

arnings distributions policy" 'ompliance o regulatory re:uirements in ormulation o

inancial strategies" ources o inance 5 long term short term and international"

6change rate 5 risk agencies in!ol!ed and procedures ollowed in international inancial operations

,$ Financial Management >ecisions 1- #

'apital structure theories and planning" 'ost o capital" .esigning 'apital tructure" 'apital budgeting

;ease inancing" 4orking capital management" #inancial ser!ices" .i!idend and retention policies"

'riteria or selecting sources o inance including inance or international in!estments" ect

o inancing decisions on *alance heet and +atios" #inancial management in public sector"

+ole o Treasury unction in terms o setting corporate ob-ecti!es unds management 5 national

and international" 'ontemporary de!elopments 5 4TO $TT 'orporate o!ernance T+31

T+3M *3 regulations as amended rom time to time


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!$ Financial anal(sis & planning 1"#

#unds low and cash low analysis" #inancial ratio analysis 7+atios in the areas o

per ormance pro itability inancial adaptability li:uidity acti!ity" shareholder in!estment

and inancing and their interpretation" ;imitations o ratio analysis" 3denti ication o in ormation

re:uired to assess inancial per ormance" ect o short7term debt on the measurement o gearing

*$ Operating and inancial leverages -#

$nalysis o operating and inancial le!erages" 'oncept and nature o le!erages operating risk

and inancial risk and combined le!erage" Operating le!erage and 'ost !olume 1ro it

analysis 5 arning *e ore 3nterest and Ta6 ( *3T) and arning 1er hare ( 1 ) indi erence point

-$ Financial trateg( 1- #

#inancial and Non7#inancial ob-ecti!e o di erent organizations" 3mpact on 3n!estment inance

and di!idend decisions" ources and bene its o international inancing" $lternati!e #inancing

strategy in the conte6t o regulatory re:uirements" Modeling and orecasting cash lows and

inancial statements based on e6pected !alues or !ariables 5 economic and business

ensiti!ity analysis or changes in e6pected !alues in the models and orecasts" merging trends

in inancial reporting

/$ Investment >ecisions 1- #

'osts *ene its and +isks analysis or pro-ects" ;inking in!estment with customerHs re:uirements"

.esigning 'apital tructure" The impact o ta6ation potential changes in economic actors

and potential restrictions on remittance on these calculations" 'apital in!estment real options"


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3nterest rate swaps" 'aps loors and collars" 1arity theorems" #.3" Money market hedge"

Options

7$ ources o International Finance -#

Rai sing unds in oreign markets and in!estments in oreign pro-ects" #orward rate agreements

and interest rate guarantees" Transaction translation and economic risk 3nterest rate

parity" purchasing power parity and the #isher e ects" #oreign .irect 3n!estment

1"$ International Monetar( and Financial (stem -#

=nderstanding the 3nternational Monetary ystem" 6port and 3mport 1ractices"

3nternational #inancial Management& 3mportant issues and eatures 3nternational 'apital Market"

3nternational #inancial er!ices and 3nsurance& 3mportant issues and eatures

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Paper 1!: Management Accounting; trategic Management 0One Paper: ! 'ours:1""mar s2

Objective:

To understand the importance o strategic and risk management and apply tools or strategic

analysis appropriately

To de!elop the ability to understand the risks both internal and e6ternal and build capabilities to

mange risks

A$ trategic Management /"#

1$ Introduction to 3usiness trateg( 1"#

Meaning and implications o corporate planning long range planning business policy planning

and strategic planning" strategic management processes" meaning and use o mission

goals ob-ecti!es and targets pro it gap sales gap risk gap and other strategies"

4OT analysis" target selling strategy ormulation and implementation monitoring

mechanism strategies or stagnation !ersus growth strategies or growth through e6pansion

!ersus di!ersi ication % di!ersi ication !s core competency

$c:uisition and merger strategy strategy o -oint !enture both in 3ndia and abroad" Marketing


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)$ .is insurance: 1"#

3nsurability o +isk and 3nsurance 'ontracts" 3nsurance 1ricing $nalysis Tools .emand or

+isk Management (=tility Theory)" ;egal ;iability 'orporate ;iability ;iability 3ssues"

3nsurance case study& $uto 3nsurance (or such other insurance industry segment as may be noti ied )

'ommercial 3nsurance

6$ Corporate ris management: 1-#

+isk Management and hareholders" +isk +etentionE+eduction" #inancial +isk Management"

#utures and Options" $sset E ;iability Management" 1ro-ect r isk management nterprise

+isk Management

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Paper 1*: Indirect & >irect ; 5a9 Management 0One Paper: ! 'ours:1"" mar s2

Objectives:

To gain e6pert knowledge about the direct and indirect ta6 laws in orce and the rele!ant rules

and principles emerging rom leading cases

To pro!ide an insight into practical aspects and apply the pro!isions o laws to !arious situations

To understand the !arious e6ternal $uditing +e:uirements under ta6 laws

1$ Central 49cise ,"#

,$ Customs 1"#

!$ ervice 5a9 1"#

*$ 49port Promotion c'emesB Foreign 5rade Polic(B 4O8B 4 $ 1" #

-$ Central ales 5a9= A5 Act -#

/ Income 5a9 including Fringe 3ene it 5a9$ ,"#

)$ Wealt' 5a9 -#

6$ Case tudies under >irect and Indirect 5a9es$ ,"#

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o!erhead and its use in impro!ing the e iciency o repetiti!e o!erhead acti!ities"

Multi7product break7e!en analysis including break7e!en and pro itE!olume charts

contributionEsales ratio margin o sa ety etc " imple product mi6 analysis in situations where

there are limitations on productEser!ice demand and one other production constraint

Target costing" ;i e cycle costing and implications or marketing strategies" ecision Ma ing ,"#

The nature o risk and uncertainty" ensiti!ity analysis in decision modeling and the use o

computer so tware or Cwhat i C analysis" $ssignment o probabilities to key !ariables in

decision models" $nalysis o probabilistic models and interpretation o distributions o

pro-ect outcomes" 6pected !alue tables and the !alue o in ormation" .ecision trees or

multi7stage decision problems

-$ 4nterprise per ormance measurement s(stems 1-#

*alanced core 'ard


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To gain e6pert knowledge o the pro essional standards principles and procedures de!eloped globally

by and their application to di erent practical situations

To understand the scope and :uality o e6ternal reporting and its use in published accounts

1$ Introduction to IA B 8


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eneral 1rinciples" 'omparison with commercial accounting" +ole o the 'omptroller and

$uditor eneral o 3ndia" +ole o the 1ublic $ccounts 'ommittee" +e!iew o accounts

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Paper 1): Cost Audit & Operational Audit and 4t'ics 0One Paper: ! 'ours:1"" mar s2

Objectives:

To gain an in7depth knowledge o the techni:ues and methods o planning and conducting 'ost $udit

To de!elop the skill in 3nternal 'ontrol 3nternal $uditing and Operational $udit

ection 1

1$ 3asics o cost auditB appointment o cost auditor 1"#

Nature and scope o cost audit" 1ro!isions under 'ompanies $ct relating to maintenance o

'ost +ecords and 'ost $udit" 'ost auditor 5 appointment rights and responsibilities"

tructuring the cost audit

,$ Cost Audit .eport .ules 1"#

1ro!isions o 'ost $udit +eport +ules 200@" #orm o cost audit report" $nne6ures to the

cost audit report" 1ro7 orma to the cost audit report" =se ulness o 'ost $udit

!$ Cost Accounting .ecord .ules ,"#

1rocedure or prescription o cost accounting record rules" 'ost accounting record rules and

its applicability" 1ro!isions o cost accounting record rules or !arious industries

* Cost Accounting tandards 1"#

ection II ; Internal Audit and Operational Audit

1$ 3asics o internal audit and operational audit 1"#

'oncept o internal and operational audit" 3nternal $udit 7 techni:ues and procedures"

3nternal $udit +eport" Operational audit 5 techni:ues and procedures" Operational audit report"

pecial reports or banks shareholders employees etc" e!aluation o internal control system

budgetary control system in!entory control system management in ormation system

,$ Management Audit in >i erent orms and unctions 1"#


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'orporate er!ices $udit" $udit checks o di erent unctions" 'orporate o!ernance and

$udit 'ommittee

!$ arious t(pes o audit and t'eir processE 1"#

.ue .iligence audit" OJ $udit" nergy $udit 5 meaning % methodology" 1roducti!ity audit"

3n!entory audit"


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capital structure on the market !alue o the company" 1riorities o di erent stakeholders

in terms o business !aluation

,$ aluation o Mergers and Ac uisitions 0,"#2

$ssets and cash lows" The strengths and weaknesses o !arious !aluation method"

+ecognition o the interest o !arious stakeholders" election o appropriate cost o capital

or !aluation" ynergistic bene its" #orms o consideration and terms o ac:uisitions"


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Documents

ICWA Complete Syllabus