SAMPLE LECTURETable of contentFINANCIAL ACCOUNTING 1. Accounting – meaning, nature, functions and usefulness; types of accounting; accounting equation; generally accepted accounting concepts, principles and conventions; double entry system. 2. Recording of transactions – preparation of ledger accounts, subsidiary books, recording of cash and bank transactions, preparation of trial balance; voucher system. 3. Preparation of bank reconciliation statement. 4. Rectification of errors. 5. Preparation of final accounts (non-corporate entities) – capital and revenue items, manufacturing, trading and profit and loss account, balance sheet, adjustment entries, closing entries. 6. Accounting for depreciation – need for and significance of depreciation, methods of providing depreciation. 7. Inventory valuation – significance, inventory system, methods of inventory valuation. 8. Accounting for bills of exchange – bills receivable and payable, acceptance, endorsement, discounting, retirement, dishonour and renewal of bills, accommodation bills. 9. Accounts of non-profit organisations – receipts and payments and income and expenditure accounts and balance sheet; accounts of professionals.10. Single entry system – preparation of accounts from incomplete records.11. Average due date and account current.12. Control accounts – self-balancing and sectional balancing ledgers.13. Accounting for consignments and joint ventures.14. Branch and departmental accounts, inter-departmental transfers.15. Partnership accounts: (i) Fundamentals – capital, fixed and fluctuating; adjustments for change in profit sharing ratios; revaluation of assets and liabilities; goodwill; joint-life policy. (ii) Reconstitution of the firm – admission, retirement and death of a partner; amalgamation. (iii) Dissolution of partnership including piece-meal distribution; sale to a company.16. Accounting for hire purchase and instalment systems.17. Basic principles relating to lease accounting.18. Insurance claims – claims under fire insurance policies, claims for loss of stock; claims for loss of profit.BASIC ECONOMICS1. Nature and Scope of Economics Definition, nature and scope of economics; micro and macro economics; positive and normative economics; working of economic systems with special reference to the capitalistic, socialistic and the mixed economies.2. Demand Analysis Utility analysis – total utility and marginal utility; law of diminishing marginal utility; law of equi-marginal utility; indifference curves – meaning, properties, marginal rate of substitution; consumers’ equilibrium; law of demand; elasticity of demand.3. Production, Costs and Revenue Analysis Laws of returns; returns to scale; costs and revenue concepts and their relationship with output; economies and diseconomies of scale.4. Equilibrium of the Firm and Industry Price and output determination under perfect competition, monopoly and monopolistic competition.5. National Income Concept, significance and measurement of national income.6. Money and Credit Concept of money and credit; the Quantity theory of money; the supply of money; credit creation by bank; functions of central banking and its instruments of credit control.7. Theory of Employment and Income Determination Framework of Keynesian theory of income and employment, consumption function, investment function and their determinants, investment multiplier; determination of level of income and employment; Keynesian theory with reference to developing economies.8. Inflation and Deflation Concept and features of inflation, demand pull and cost push inflation; measures to control inflation; deflation and measures to control it; stagflation.9. International Trade and Balance of Payments Theory of comparative cost advantage, terms of trade and their determinants, concept of rate of exchange; balance of trade and balance of payments and their relationship, measures against balance of payments disequilibrium. ELEMENTS OF BUSINESS LAWS (50 MARKS)1. Law Meaning of law, its significance and relevance to modern civilized society; sources of law.2. Law relating to Contract – An Overview Contract – meaning; essentials of a valid contract; nature of contract; performance of contract; termination and discharge of contract; indemnity and guarantee; bailment and pledge; law of agency.3. Law relating to Sale of Goods – An Overview Essentials of a contract of sales; sale distinguished from agreement to sell, bailment, contract for work and labour and hire-purchase; conditions and warranties; transfer of title by non-owners; doctrine of caveat emptor; performance of the contract of sale; unpaid seller – his rights against the goods and the buyer.4. Law relating to Negotiable Instruments – An Overview Definition of a negotiable instrument; instruments negotiable by law and by custom; types of negotiable instruments; parties to a negotiable instrument – duties, rights, liabilities and discharge; material alteration; crossing of cheques; payment and collection of cheques and demand drafts; presumption of law as to negotiable instruments.5. Law relating to Partnership – An Overview Nature of partnership and certain similar organisations-co-ownership, Joint Hindu Family; partnership deed; rights and liabilities of partners including those of newly admitted partners, retiring and deceased partners; implied authority of partners and its scope; registration of firms; dissolution of firms and of the partnership.6. Elements of Company Law Meaning and nature of company; promotion and incorporation of a company; Familiarisation with the concept of Board of directors, shareholders and company meetings; Company Secretary. Product Description CS FOUNDATION – Fundamentals of Accounting and Auditing consists Complete Video Lecture + eBooks + Test Paper Package consists of top quality video lectures of around 75 hours duration, exhaustive notes and Test Paper. The full eCourse Package along with the required software is delivered on DVDs. The eCourse is suitable for consumption on Windows PC/Laptop or Android Tablet/Smartphones.
Applicable For November 2014