ICWAI (ICAI) : Syllabus - Final Course Group IV

Tweet     Pin It             Share

Introduction

Eligibility

Job Prospects

Examination

Syllabus

Institutes

Useful Contacts

Paper 15: Management Accounting - Enterprise Performance Management (One Paper: 3 hours:100 marks)

1. Management Control Systems
Control Systems within the framework of the organization
The application of control systems and related theory to the design of management accounting control systems
Structure and operation of management accounting control systems
Behavioural consequences of using management accounting controls);
Variation in control needs and systems dependent on organizational structure
Management accounting system - need for detailed costing, overhead allocation and budgeting, identification of
non-value adding activities in the accounting function

2. Operations Management
An overview of operations strategy and its importance
Systems used in operations management: Manufacturing Resource Planning (MRP), Optimised Production
Technologies (OPT), Just-in-Time (JIT) and Enterprise Resource Planning (ERP).
Use of the Intranet in information management
Strategies for balancing capacity and demand including level capacity
Demand management strategies.
Benchmarking and Business Process Re-engineering (BPR).

3. Cost Planning and Analysis for Competitive Advantage
Value analysis and quality function deployment.
The benefits of just-in-time production, total quality management and theory of constraints
Kaizen costing, continuous improvement and cost of quality reporting.
Learning curves and their use in predicting product/service costs, derivation of learning rate and learning index.
Activity-based management in the analysis of overhead and its use in improving the efficiency of repetitive
overhead activities.
Multi-product break-even analysis, including break-even and profit/volume charts, contribution/sales ratio, margin of
safety etc.
Simple product mix analysis in situations where there are limitations on product/service demand and one other
production constraint.
Target costing.
Life cycle costing and implications for marketing strategies.
Value chain and supply chain management
Strategic Total Cost Management

4. Treatment of Uncertainty in Decision Making
The nature of risk and uncertainty.
Sensitivity analysis in decision modeling and the use of computer software for 'what if' analysis.
Assignment of probabilities to key variables in decision models.
Analysis of probabilistic models and interpretation of distributions of project outcomes.
Expected value tables and the value of information.
Decision trees for multi-stage decision problems.

5. Enterprise performance measurement systems
Balanced Score Card, EVA
Segment Performance

6. Quality Management
Approaches to quality management, including Total Quality Management (TQM), Statistical Quality Control (SQC) .
The use of benchmarking in quality measurement and improvement.
Practices of continuous improvement (e.g. Quality circles, Kaizen, 5S, 6 Sigma).
Different methods of quality measurement (i.e. operational, financial and customer measures)
Contemporary developments in quality management.
External quality standards (e.g. the various ISO standards appropriate to products and organizations).
Global awards for best practices and business performance

Paper 16: Advanced Financial Accounting & Reporting (One Paper: 3 hours:100 marks)
1. Introduction to IAS, US GAAP, Indian Accounting Standards
GAAP in India
US GAAP- Statements and Standards, hierarchy of US GAAP
International Accounting Standards
Relative view of AS (India), IAS and US GAAP on different issues
2. Preparation of Company Accounts under various circumstances
Relevant Terms
Types of Mergers, methods of accounting
Treatment of Goodwill arising on Merger.
Purchase Consideration and Settlement.
Accounting in the books of vendor / transferor company.
Accounting for investment in subsidiary.
Accounting of holding companies
Consolidation of financial statements.
Corporate Financial restructuring
Accounting standards relevant to these concepts.
3. Group Financial Statements
Holding company, Subsidiary Company and Associate company
Consolidated Income Statement, Balance Sheet and Cash Flow Statements for Group of companies
Concept of fair value at the time of acquisition
Impact on group financial statements at the point of acquisition
Compare and contrast acquisition and equity methods of accounting
Reconstruction schemes , De-merger
Preparation and interpretation of segmental analysis, inter-firm comparisons
4. Segment Reporting
5. Developments in External Reporting
Applicability of a particular accounting standard.
Interpretation of various accounting standards.
Scope of accounting standards.
Compliance with the Accounting Standards.
Annual Reports – Statutory Requirements and External reports
Preparation of Financial information in the Annual Reports
External Reporting under capital market regulations
Disclosure of post Balance Sheet events .
Financial Reporting across the world
Exposure to reporting under US and UK laws
IFRS requirements for reporting
6. Government Accounting in India
General Principles.
Comparison with commercial accounting.
Role of the Comptroller and Auditor General of India.
Role of the Public Accounts Committee.
Review of accounts

Paper 17: Cost Audit & Operational Audit and Ethics (One Paper: 3 hours:100 marks)

1. Basics of cost audit, appointment of cost auditor
Nature and scope of cost audit.
Provisions under Companies Act relating to maintenance of Cost Records and Cost Audit.
Cost auditor – appointment, rights and responsibilities
Structuring the cost audit
2. Cost Audit Report Rules
Provisions of Cost Audit Report Rules 2001
Form of cost audit report
Annexures to the cost audit report
Pro-forma to the cost audit report.
Usefulness of Cost Audit.
3. Cost Accounting Record Rules
Procedure for prescription of cost accounting record rules
Cost accounting record rules and its applicability
Provisions of cost accounting record rules for various industries.
4 Cost Accounting Standards

Section II - Internal Audit and Operational Audit
1. Basics of internal audit and operational audit
Concept of internal and operational audit
Internal Audit - techniques and procedures
Internal Audit Report.
Operational audit – techniques and procedures
Operational audit report
Special reports for banks, shareholders, employees etc
evaluation of internal control system, budgetary control system, inventory control system, management information
system.
2. Management Audit in Different forms and functions
Corporate Services Audit
Audit checks of different functions
Corporate Governance and Audit Committee
3. Various types of audit and their process
Due Diligence audit
SOX Audit
Energy Audit – meaning & methodology
Productivity audit
Inventory audit
VAT Audit.
Special audit under excise , service tax and customs records by cost accountant
Environment audit
Qualities of good certificate/report
Bank Audit and Concurrent Audit.
Systems Audit.
Audit under ERP environment.
4. Fields for practicing cost accountants
Statutory,
Non Statutory.
WTO regime.
Assessment and quantification of losses under marine, fire & accident policies
ANTI-DUMPING – meaning, process, role of cost accountants
5. Professional Ethics
Meaning of professional values and ethics,
ICWAI & IFAC guidelines for professional values and ethics,
Ethical codes applicable to professional Accountants in India, Ethical code for Cost Accountants under Cost and
Works Accountants Act, 1959 and The Cost and Works Accountants Regulations, 1959, as amended up to date.
6. Auditing and Assurance standards

Paper 18: Business Valuation Management (One Paper: 3 hours:100 marks)

1. Valuation Basis
Principles and techniques of valuation
Asset valuation.
Earnings valuation
Cash flow valuation.
Other valuation basis
Efficient market hypothesis
Impact of changing capital structure on the market value of the company
Priorities of different stakeholders in terms of business valuation.
2. Valuation of Mergers and Acquisitions
Assets and cash flows
The strengths and weaknesses of various valuation method
Recognition of the interest of various stakeholders
Selection of appropriate cost of capital for valuation
Synergistic benefits
Forms of consideration and terms of acquisitions
Post merger integration process
Implications of regulations for business combinations
Types of exit strategies and their implications.
3. Valuation of Assets and Liabilities
Forms of intellectual property and methods of valuation
Valuation of fixed assets
Valuation of inventories
Valuation of investments
Valuation of shares
Dividend growth valuation models
MM theory
Valuation of options
Valuation of intangibles
Human resource accounting
Valuation of goodwill, patents and copyrights
Valuation of brands
Valuation of real estate
Relevant accounting standards.
4. Case studies

Find it Useful ? Help Others by Sharing Online               Tweet     Pin It             Share   Comments and Discussions

Related Career Options

Banking Banks - the reservoir of wealth, play an important role in our day-to-day life as they are the organ...     Statistician The services of a statistician are required in every field right from government offices to internat...     Securities Analysts The field of securities research is a discipline within the financial services industry and securiti...     Chartered Accountancy A Chartered accountant is one who is specialised in accounting, auditing and taxation. He serves as ...