Paper 5: Advance Accounting
• Accounting Standards
AS 4 Contingencies and Events occurring after the Balance
Sheet Date
AS 19 Accounting for Lease
AS 20 Earnings Per Share
AS 26 Intangible Assets
AS 29 Provisions, Contingent Liabilities and Contingent Assets
• Partnership
Mergers
Piece meal Distribution
Garner v/s Murray Principle related sums
• Liquidation
Statement of Affairs
B-list contributories
• Departmental a/c
Mark up sums
• Branch A/c
Stock and Debtors Method
Trading P & L Method
Integrated foreign operations (IFO) (AS 11)
• Firm underwriting
• Banking Company
Schedule 8, 9 & 13
P & L A/c
NPA and its Provision related sums (Most Imp)
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• Insurance
Valuation B/S
Unexpired Risk Reserve (URR)
Revenue a/c
• Electricity
Capital Base
Reasonable return
Replacement
• Amalgamation
• Debentures
Sinking Fund
• Internal Reconstruction
• Buyback Theory
• Equity shares with differential rights
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Paper 6: Auditing & Assurance
• Standards on Auditing
(PRACTICAL APPLICATION and THEORY IN DESCRIPTIVE &
SHORT QUE)
S.A. 200 Overall Objectives of the Independent Auditor and the
Conduct of an Audit in Accordance with Standards on Auditing
S.A. 250 Consideration of Laws and Regulations in An Audit of
Financial Statements
S.A. 260 Communication with Those Charged with Governance
S.A. 299 (AAS 12) Responsibility of Joint Auditors
S.A. 315 Identifying and Assessing the Risks of Material
Misstatement through Understanding the Entity and its
Environment
S.A. 320 Materiality in Planning and Performing an Audit
S.A. 500 Audit Evidence
S.A. 520 Analytical Procedures
S.A. 550 Related Parties
SA 580 Written Representations
S.A. 600 Using the Work of Another Auditor
S.A.620 Using the Work of an Auditor’s Expert
S.A. 700 Forming an Opinion and Reporting on Financial
Statements
S.A. 710 Comparative Information – Corresponding Figures and
Comparative Financial Statements
S.A. 720 The Auditor’s Responsibility in Relation to Other
Information in Documents Containing Audited Financial
Statements
Note: STUDENTS must write S.A. no. in exams.
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• Accounting Standards
(PRACTICAL APPLICATION)
AS 4 (Revised) Contingencies and events occurring after
Balance Sheet Date
AS 5 Net Profit or Loss for the Period, Prior period items and
Changes in Accounting Policies
AS 9 Revenue Recognition
AS 12 Accounting for Government grants
AS 13 Investments
AS 16 Borrowing Costs
AS 18 related Party Disclosure
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• Company Audit
(PRACTICAL APPLICATION and THEORY)
Buyback of Shares
Sweat equity Shares
Auditors’ Lien
Circumstances when qualified report is issued
Payment of Dividend out of Capital Income
Sec. 95-100
Sec.205
Sec. 217 (2AA)
Sec. 224 (1B)
Sec. 225
Sec. 227
Sec. 231
Sec. 233A
Sec. 274(1)(g)
Sec 619
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• Vouching and Verification
Cut-off Procedures
Audit of Prepaid Expenses and provisions
Vouching
Preliminary Expenses
Government Subsidy
Recovery of Bad Debts Written-off
Contingent Liabilities
Transaction with Subsidiary/Holding Co.
Stock with Third party
Verification and Valuation
Trademark, Copyright & Patents
Capital Work-in-Progress
Fixed Assets Abroad
Assets acquired on Hire-purchase
Joint Ownership Assets
Go through all examples once, sort out some common points
written in all examples. Now in exam write COMMON POINTS +
POINTS SPECIALLY RELATED to given question.
• Audit for Special Entities
Audit of Educational Institution
Audit of Consumer Store
Audit of NGO
Audit Hospital
• Various Descripttive and short questions
True and Fair View
Internal Control in EDP environment
Window Dressing
General purpose Financial Statement
Frauds and Errors
Compliance and Substantive Audit Procedure
Audit Trail
Surprise Check
Relying on Work of others
Rights, Duties, Disqualification & Appointment of AUDITOR
Difference between Various concepts given in ICAI module
TYPES OF AUDIT
CIS Environment
EDP & ITS APPLICATION
Internal check
Audit Programme
Audit in depth
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Paper 7: Information Technology and Strategic
Management
Information Technology
• Computer History
Fourth and Fifth Generation Computers
Main Frames
Work Stations
Arithmetic logic unit (ALU)
Clock Speed
Density
MMX
BIOS
USB Port
Flash Memory
Magnetic Disk (Hard Disk)
Touch screen
Dumb Terminal and Intelligent Terminal
Bar Code Reader
Functions of Operating System
Language Translators
Graphical User Interface (GUI)
ERP
Non impact printers
Touch screen
4th Generation Language (4GL)
Object Oriented Programming (OOP) and languages
Image Processing
Decision Support System
Expert System
• Database
Primary Key
Types of File Organization
Sequential File Organization
Factors affecting file organization
Best File Organization
DDL
SQL
Back-up and Recovery
Structure of DBMS
Distributed Database
Network Database Structure
• Networking and Internet
Peer-to-Peer
Client Server
LAN
Bridge
Modem
NIC
Topologies
DNS & Gopher server
Servers
Packet Switching
OSI Protocol
Intrusion Detection System
Business Continuity Planning : Threats & Vulnerability
Disaster Recovery Site
SCM
Mobile Commerce
E-commerce [Nature, types (B2B, B2C, C2C)]
E-commerce Security
EDI
Wi-fi
Extranet
Credit card
• Flowchart
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Strategic Management
• Business Environment
PORTER'S 5 forces model
Globalization
• Business Policy & Strategic Management
Mission
Strategic Management and its Benefits
Four Generic strategies given by Glueck and Jauch
• Strategic Analysis
SWOT
Integration
Product Life Cycle
• Strategic Planning
Diversification Strategy
Acquisition Strategy
Liquidation Strategy
Turnaround Strategy
• Formulation of Functional Strategy
Core Competence
Logistic strategy
Human Resource management Strategy
Market Mix
• Strategy Implementation and Control
Strategic Business Units (SBUs)
Value Chain Analysis
Market Segmentation
Difference between Strategy Formulation and Implementation
Types of Organization
Corporate Culture
Leadership Challenges
• Reaching Strategic Edge
Six Sigma
Benchmarking
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Best Wishes from Team devyash patel
Any query regarding this exams can be mailed to devyashca @ yahoo.in
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