Syllabus
Objective
To analyze and integrate the concepts, principles and provisions of accounting, auditing, taxation, corporate laws, finance and business strategy and management to address issues in practical case scenarios.
Coverage
The paper will include case studies covering the the following areas.
1. Financial Accounting and Reporting
2. Audit and Assurance
3. Taxation
4. Finance and Financial Management
5. Management Accounting
6. Corporate Laws
7. Business Strategy and Management
Syllabus
Objective
a. To develop an understanding of the key concepts and principles of International financial reporting Standards and to acquire the ability to apply such knowledge to make computations and address issues in practical case scenarios
b. To develop and understanding of the significant differences between IFRS and US GAAP and apply them in practical case scenarios
Contents
1. Conceptual Framework for Financial Reporting as per IFRS
2. Application of International Financial Reporting Standards
3. Significant differences between IFRS and US GAAPs
Objective
1. To apply various cost management techniques for planning and controlling performance in order to monitor and control strategic objectives
2. To develop skills of analysis, synthesis and evaluation in cost management to address challenges which might affect or influence the management of performance within organizations
Contents
Part A: Strategic Cost Management and Decision Making
Sub Part 1: Strategic Cost Management
1. Introduction to Strategic Cost Management
i. Concept of Strategic Cost Management
ii. Limitations of Traditional Cost Management
iii. Traditional vs. Strategic Cost Management
2. Modern Business Environment
i. Introduction / Characteristics of the Modern Business Environment
ii. Cost of Quality, Total Quality Management, Business Excellence Model
iii. Throughput Accounting and Theory of Constraints
iv. Supply Chain Management (SCM)
v. Gain Sharing Arrangements
vi. Outsourcing
3. Lean System and Innovation
i. Introduction to Lean System
a. Just-in-Time (JIT)
b. Kaizen Costing
c. 5Ss
d. Total Productive Management (TPM)
e. Cellular Manufacturing / One-Piece Flow Production Systems
f. Six Sigma (SS)
4. Cost Management Techniques
i. Cost Control / Waste Control, Cost Reduction
ii. Target Costing
iii. Value Analysis and Value Engineering
iv. Pareto Analysis
v. Life Cycle Costing
vi. Environmental Management Accounting
5. Cost Management for Specific Sectors
i. Agricultural Sector
ii. Information Technology Sector
iii. Power Sector
Part B: Performance Evaluation and Control
Sub Part I: Performance Evaluation and Reporting
1. Performance Measurement and Evaluation
i. Responsibility Accountingii. Linking Critical Success Factors (CSFs) to key Performance Indicators (KPIs) and Corporate Strategy; Performance Measurement Models - The Balanced Score Card, The Performance Pyramid; The Performance Prism and The Building Block Model; Divisional Performance Measures; Bench Marking Schemes
iii. Performance Measurement in the Not-for-Profit Sector
iv. Preparation of Performance Reports
2. Divisional Transfer Pricing
i. Meaning, Purpose and Principles of Transfer Pricing
ii. Methods of Transfer Pricing
iii. The Beahavioural Consequences arising from Divisional Structures
iv. International Transfer Pricing
3. Strategic Analysis of Operating Income
i. Operating Profit Analysis
ii. Advanced Activity Based Costing, Activity Based Management (ABM), Activity Based Budgeting (ABB)
Sub Part II: Managerial Control
1. Budgetary Control
i. The Concept of Feedback and Forward Control
ii. Behavioural aspects of Budgeting - Imposed Style, Participative Budget
iii. Behavioural aspects of Budgetary Control
iv. Beyond Budgeting
2. Standard Costing
i. Advanced Analysis of Variances
ii. Integration of Standard Costing with Marginal Cost Accounting
iii. Reconciliation of Profit
iv. Variance Investigation Techniques, Interpretation of Variances, Possible interdependence between variances and reporting
v. Behavioural aspects of Standard Costing, Limitations of Standard Costing (including its use in the contemporary environment)
Part C: Case Study
Case Study (covering Course Concepts)
General Note
Application of the following qualitative techniques are required to be studied to have linkage to course concept
a. Linear Programming
b. Learning Curve / Experience Curve
Syllabus
Objective
To acquire the ability to apply Financial Management theories and techniques in strategic decision making
Contents
1. Financial Policy and Corporate Strategy
i. Strategic decision making framework
ii. Interface of Financial Policy and strategic management
iii. Balancing financial goals vis-a-vis sustainable growth
2. Risk Management
i. Identification of types of risk faced by an organization
ii. Evaluation of Financial Risks
iii. Value at Risk (VAR)
iv. Evaluation of appropriate method for the identification and management of financial risk
3. Security Analysis
i. Fundamental Analysis
ii. Technical Analysis
a. Meaning
b. Assumptions
c. Theories and Principles
d. Charting Techniques
e. Efficient Market Hypothesis (EMH) Analysis
4. Security Valuation
i. Theory of Valuation
ii. Return Concepts
iii. Equity Risk Premium
iv. Required Return on Equity
v. Discount Rate Selection in Relation to Cash Flows
vi. Valuation of Preference Shares
vii. Valuation of Debentures / Bonds
5. Portfolio Management
i. Portfolio Analysis
ii. Portfolio Selection
iii. Capital Market Theory
iv. Portfolio Revision
v. Portfolio Evaluation
vi. Asset Allocation
viii. Fixed Income Portfolio
viii. Risk Analysis of Investment in Distressed Securities
ix. Alternative Investment Strategies in context of Portfolio Management
6. Securitization
i. Introduction
ii. Concept and Definition
iii. Benefits of Securitization
iv. Participants in Securitization
v. Mechanism of Securitization
vi. Problems in Securitization
vii. Securitization of Instruments
viii. Pricing of Securitization Instruments
ix. Securitization in India
7. Mutual Funds
i. Meaning
ii. Evolution
iii. Types
iv. Advantages and Disadvantages of Mutual Funds
8. Derivatives Analysis and Valuation
i. Forward / Future Contract
ii. Options
iii. Swaps
iv. Commodity Derivatives
9. Foreign Exchange Exposure and Risk Management
i. Exchange rate determination
ii. Foreign currency market
iii. Management of transaction, translation and economic exposures
iv. Hedging currency risk
v. Foreign exchange derivatives - Forward, futures, options and swaps
10. International Financial Management
i. International Capital Budgeting
ii. International Working Capital Management
a. Multinational cash management
- Objectives of Effective cash management
- Optimization of Cash Flows / Needs
- Investment of Surplus Cash
b. Multinational Receivable Management
c. Multinational Inventory Management
11. Interest Rate Risk Management
i. Interest rate risk
ii. Hedging of interest rate risk
a. Traditional Methods
b. Modern Methods including Interest Rate Derivatives
12. Corporate Valuation
i. Conceptual Framework of Valuation
ii. Approaches / Methods of Valuation
a. Assets Based Valuation Model
b. Earnings based Models
c. Cash Flow based Models
d. Measuring Cost of Equity
- Capital Asset Pricing Model (CAPM)
- Arbitrate Pricing Theory
- Estimating Beta of an unlisted company
e. Relative Valuation
- Steps involved in Relative Valuation
- Equity Valuation Multiples
- Enterprise Valuation Multiples
f. Other approaches to Value Measurement
-Economic Value Added
-Market Value Added
- Shareholder Value Analysis (SVA)
g. Arriving at Fair Value
13. Mergers, Acquisitions and Corporate Restructuring
i. Conceptual framework
ii. Rationale
iii. Forms
iv. Mergers and Acquisitions
a. Financial Framework
b. Takeover Defensive Tactics
c. Reverse Merger
v. Divestitures
a. Partial Sell Off
b. Demerger
c. Equity Carve outs
vi. Ownership Restructuring
a. Going Private
b. Management / Leverage Buyouts
vii. Cross Border Mergers
14. Startup Finance
i. Introduction including Pitch Presentation
ii. Sources of Funding
iii. Startup India Initiative
Syllabus
Objective
(a) To acquire the ability to integrate and solve problems in practical scenarios on Indian Accounting Standards for deciding the appropriate accounting treatment and formulating suitable accounting policies
(b) To gain the prowess to recognize and apply disclosure requirements specified in Indian Accounting Standards while preparing and presenting the financial statements
(c) To develop the skill to prepare financial statements of group entities which includes subsidiaries, associates and joint arrangements based on Indian Accounting Standards
(d) To develop an understanding of the various forms of reporting (other than financial statements) and accounting for special transactions and apply such knowledge in problem solving.
Contents
1. Framework for preparation and presentation of financial statements in accordance with Indian Accounting Standards (Ind AS)
2. Application of Indian Accounting Standards (Ind AS) with reference to General Purpose of Financial Statements
(i) Ind AS on First time adoption of Indian Accounting Standards
(ii) Ind AS on Presentation of Items in the Financial Statements
(iii) Ind AS on Measurement based on Accounting Policies
(iv) Ind AS on Income Statement
(v) Ind AS on Assets and Liabilities of the Financial Statements including Industry specific Ind AS
(vi) Ind AS on items impacting the Financial Statements
(vii) Ind AS on Disclosures in the Financial Statements
(viii) Other Ind AS
3. Indian Accounting Standards on Group Accounting
(i) Business Combinations and Accounting for Corporate Restructuring (including demerger) (as per Ind AS)
(ii) Consolidated and Separate Financial Statements (as per Ind AS)