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An analysis of the new draft syllabus of ICSI Executive programme in comparison to old syllabus.

Current vs. New draft syllabus

Executive Programme

Current Pattern

Proposed Pattern

1st module

General and Commercial laws

Company law

Company, Cost and Management Accounting

Cost and Management Accounting

Tax Laws

Economic and Commercial laws

Information Technology and System Audit

2nd module

Company Law

Company Accounts and Auditing Practices

Economic and Labour Laws

Capital Market and Securities Laws

Securities Law and Compliances

Industrial, Labour and General Laws

1ST Module:-

PAPER 1st(General and Commercial Laws)(Current Syllabus):-

This paper covers all the general and commercial laws of India it’s a very precise paper and has a shortcoming that it doesn’t gives you the whole and sole knowledge of laws students only gets to know the overview of these laws and also it covers various other acts that’s needs more attention than previously it got from the students just by reading notes students clear this paper and the basic theme of the acts and sections are ignored to a great extent by students as passing it was a rather easy.

PAPER 1ST(Company law)(draft syllabus)(Shifted to Module 1st):-

One Addition is made to it is introduction XBRL system of filling documents so as to make students learn the new way of filing necessary documents to the authorities. It will make students more practically oriented about the concept of XBRL.

PAPER 2ND(Company Accounts, Cost and Management Accounting)(Current Syllabus):-

Comprising of three papers in one this subject was a bit lengthy and covers a vast syllabus which was also not looking a promising one as it was packed in 100 numbers which gives students to read a lot for one paper and also students don’t  get the opportunity to gain some in-depth knowledge of accounting terms.

PAPER 2ND(Cost and Management Accounting) (draft syllabus):-

In this new paper costing and management accounting was given more weight age and the paper was evenly balanced between both of these inclusion of Cost records keeping and cost audit gives a more wider scope to CS fraternity to better understand Cost and Cost related concepts more deeper and also costing syllabus is expanded so as to give students and advantage of being not only to manage secretarial work but also can play a hand in helping their companies when it comes to cost related matters.

PAPER 3RD(Tax Laws)(current syllabus):-

It covers the concept of various direct and indirect taxes and also their computation it was great handy paper which was increasing knowledge related to tax and its concepts.

PAPER 3RD(Economic and General Laws)(draft syllabus):-

The general and commercial laws paper was renamed as Economic and General Laws and this paper is jointly made of Economic laws and General laws in which Economic laws were given more weight age which was previously was overburdened to students with labor laws being a part of the same paper and was given equal wieghtage with labour laws of 50-50 marks and now it has covered the major portion of 70 marks and 30 marks were given to general laws as general laws paper was split into two parts one with economic laws and other one goes with labour laws as we know that economic and labor laws are greatly exercised in our profession and for that purpose gaining expertise knowledge in them is necessary for all budding professionals. All in all it’s a mix of several general laws like stamps, TOPA and arbitrations as well as FEMA, Competition Act etc.

As explained by me above the paper third of module 1st is removed and inserted in professional programme as separate paper of Direct and Indirect Tax. In place of tax laws Economic and labour laws is inserted so as to expand the base of regulatory laws which comes in as use in day to day business for various compliances so for expertise knowledge the base of the law papers are expanded and Economic laws and labour laws paper are separated with each other on this change of paper students and professionals  may have contradictory views as stated in my analysis because tax laws is rather doesn’t come in much use for a CS as compared to other Economic and Labour laws as TAX is rather Practiced by CA’s  more these days and so instead of reading it two times rather read it directly in professional as separate two papers of DT and IDT is more beneficial as it gives you both computation and planning in single paper. Law relation to societies and trusts are newer inclusion in the syllabus will give wider scope of knowledge.

Previously Module 1st contains 3 papers now it may contain 4 papers and the Executive level contains 6 papers in all but now it may contain 7 papers.

PAPER 4TH(N/A)(Current Syllabus):-

No paper 4th in current syllabus

PAPER 4th(Information Technology and System Audit)(Draft Syllabus)

This new paper is introduced due to the increasing needs and our dependence of technology as we all know as the business are expanding at large pace the need for data management is arising and the only solution to it is to adopt IT so as to make our students industry ready for IT needs of companies and make our students learn about Information Technology Law, Information Systems and Systems Audit. Through this we can meet the industry needs related to compliances of IT laws and ERP’s. As more and more companies are shifting to digitization this paper will help CS students to help their companies to guide on IT related matters.

Previously Module 1st contains 3 papers now it may contain 4 papers and the Executive level contains 6 papers in all but now it may contain 7 papers.

2ND Module:-

PAPER 4TH(Company Law)(Current syllabus):-

As it is Bread and Butter for our CS fraternity so keep it the same as it but the reshuffling of the paper is done by introducing this PAPER 1ST in Place of General and Commercial laws (GCL) as it was split into two and was adjoined one part with Economic laws and one part goes with labour laws

PAPER 5TH(Company Accounting and Auditing Practices)(Draft Syllabus):-

Company law moved to 1st module and its place is taken by separate paper of company accounting and auditing practices this change was introduced may be to increase the knowledge  base of accounting as well as auditing so as the students can grasp in-depth knowledge of accounting related to merger ,acquisitions and takeovers. As the ERA of takeovers and mergers are just beginning to take place in India in recent years and for such sensitive issues it is necessary that expert advisory is solicited and none other than a CS can play a major role in such decision making until unless he gains good amount of knowledge in accounting benefits of such decisions and also audit is introduced as to understand the auditing basics to cross verify to a certain extent those documents which actually they are signing in balance sheet and certifying it as correct as the our knowledge. As CA’s and CWA’s only knew the auditing concepts till today but CS who is actually signing the whole balance sheet and annual reports also certify its contents including reports can now cross verify if there are any issues related to audit or not. Introduction of Adoption, Convergence and Interpretation of International Financial Reporting Standards (IFRS) and Accounting Standards in India gives a whole new dimension to CS education.

PAPER 5TH(Economic Labour and Laws)(Current Syllabus):-

Paper contained all the laws related to Economic and labour laws and their applicability in various sectors this is very important paper but its overburdened by vast syllabus as both laws are equally important for a CS professional and also examiners have a lot to ask but has got vast syllabus packed in just 100 marks so the institute split these papers into two to increase weight age of both of them. So now students can gain more in-depth knowledge about them

PAPER 6TH(Capital Market and Securities Laws)(Draft Syllabus):-

The paper was previously known as Securities Law and Compliances and was the last paper of second module but now renamed as above the syllabus is same as it for the previous one but the chapters are reshuffled a bit and paper now looked more organized as all regulatory laws are shifted to part second of paper and part first comprises of concepts of capital markets like overview, stock exchanges, money market etc. This paper took place of Economic and labour laws

PAPER 6th(Securities Law and Compliances)(Current syllabus):-

The last paper of module 2nd and the executive programme as per current syllabus gives in-depth knowledge of securities market and its laws and compliances but the paper was bit unorganized as the laws and concepts are spread over the whole paper but in draft paper it was more organized in two different sections.

PAPER 7TH(Industrial, Labour and General Laws)(Draft Syllabus):-

The last paper of the Draft syllabus and combination of the industrial, labour and bit of general laws (as the general laws are spread over the two papers one with Economic laws as stated above by me). This paper covers the wider area of labour and industrial laws which was previously given only 40 marks weight age with Economic laws getting the major portion but now both equally balanced with bit of general laws in each gives the students to gain deeper knowledge of these laws.

So this my analysis of Executive programme new draft syllabus the language used might not be upto the mark as it’s my first effort in expressing my views. So, kindly pardon me for my errors.

As I think this new draft syllabus is quite good in several aspects:-

a. It gives you the better exposure of various laws as it has expanded the base of law papers

b. Several adjustments are made to incorporate latest trends such as XBRL and IFRS making the students more industry ready.

c. The syllabus is bit diversified as it gave emphasis to the information technology aspect and also enrich students knowledge about IT world and also make them IT friendly.

d. It also includes cost and its related concepts and well as two separate papers of accounting as well as concepts of auditing makes a student whole and sole package of being a great knowledgeable managerial personnel as mentioned in companies bill 2011 this syllabus justifies a tag of being a KMP.

Some of the not great aspects of this syllabus:-

a. Removal of tax laws may not be a great move but was compensated by giving a separate 100 number paper for both IDT and DT in professional level but planning as well as computation at same level may overburden the students.

b. Industrial, labour and general laws papers looks vast may overburden some students as it includes way lot of Act’s.



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