CS - Executive Programme : Module I - Company Accounts, Cost and Management Accounting

ICSICS (2008)EPSyllabus and Books • Module I - Company Accounts, Cost and Management Accounting

CS_EP :: Executive Programme
Paper 2 : Company Accounts, Cost and Management Accounting
[One paper: Three Hours – 100 marks]

Level of Knowledge :

Working knowledge.

Objective . . .

(i)To provide working knowledge of accounting principles and procedures for companies in accordance with the statutory requirements.
(ii)To acquaint the students with cost and management accounting techniques and practices.

Contents . . .

Part A : Company Accounts (50 Marks)

1.Accounting standards - relevance and significance; national and international accounting standards.
2.Accounting for share capital transactions - issue of shares at par, at premium and at discount; forfeiture and re-issue of shares; buy-back of shares; redemption of preference shares; rights issue.
3.Issue of debentures - accounting treatment and procedures; redemption of debentures; conversion of debentures into shares.
4.Underwriting of issues ; acquisition of business ; profits prior to incorporation ; treatment of preliminary expenses.
5. Preparation and presentation of final accounts of joint stock companies as per company law requirements; bonus shares.
6.Holding and subsidiary companies – accounting treatment and disclosures; consolidation of accounts.
7. Valuation of shares and intangible assets.

Part B : Cost And Management Accounting (50 Marks)

8.Cost accounting – objectives of costing system; cost concepts and cost classification; management accounting – nature and scope; role of management accountant, tools and techniques of management accounting; distinction between financial accounting, cost accounting and management accounting.
9.Elements of cost :
(i)Material cost – purchase procedures, store keeping and inventory control, fixing of minimum, maximum and re-order levels, ABC analysis, pricing of receipts and issue of material and accounting thereof; accounting and control of wastage, spoilage and defectives.
(ii)Labour cost – classification of labour costs, payroll procedures, monetary and non–monetary incentive schemes; labour turnover and remedial measures; treatment of idle time and overtime.
(iii)Direct expenses – nature, collection and classification of direct expenses and its treatment.
(iv)Overheads – nature, classification, collection, allocation, apportionment, absorption and control of overheads.
10.Methods of costing – unit costing, contract costing.
11.Budgetary control – preparation of various types of budgets, advantages and limitations; budgetary control reports to management.
12.Marginal costing – application of marginal costing; cost–volumeprofit relationship; break–even analysis, preparation of break–even charts; profit – volume graph; practical application of profit volume ratio.
13.Analysis and interpretation of financial statements – nature, objectives; latest trends in presenting financial data; importance and limitations; accounting ratios - classification, advantages and limitations.
14.Cash flow statements – classification of cash flows, preparation and usefulness.


Advanced Accounts-Vol. IIM.C.Shukla, T.S. Grewal & S.C.GuptaS.Chand
Company AccountsR.L.Gupta & M RadhaswamySultan Chand
Advanced Accountancy-Vol. IIS.P.Jain & K.L.NarangKalyani Publishers
Corporate AccountingS.N.MaheshwariVikas Publishing House
Advanced Accounting-Vol. 2Ashok Sehgal & Deepak SehgalTaxmann’s
Fundamentals of Corporate AccountingJ.R.MongaMayur Paperbacks
Cost and Management AccountingS.P.Jain & K.L.NarangKalyani Publishers
Cost and Management AccouningM.N.AroraHimalaya Publishing House
Managmenet AccountaingR.S.N.Piallai BhagvathiS.Chand
Cost and Management AccountingV.K.Saxena & C.D.VashistSultan Chand
A Text Book of Cost and Management AccountingM.N.AroraVikas Publishing House
Cost and Management AccountingS.N.MaheshwariSultan Chand
Cost AccountingS.N.Maheswari & S N Mittalshree Mahavir Book Depot
Management AccountingI.M.PandeyVikas Publishing House
Cost and Management Accounting – A Managerial EmphasisC.T.HorngrenPearson Education


International Financial Reporting Standards (IFRSs)Taxmann Publication
Indian Accounting Standards & GAPPDolphy D’SouzaSnow White Publications
Compendium of Accounting StandardsThe Institute of Chartered Accountants of India
Cost and Management AccountingS.P.LyengarSultanChand
Advanced Management AccountingRavi M.KishoreTaxmann Publication
Theory and Problems of Management and Cost AccountingM.Y.Khan & P.K.JainMcGraw-Hill Education
Advanced Management AccountingKaplan & AtkinsonPearson Education
Cost Accounting Principles and PracticeB.M.Lall Nigam & I.C. JainPrentice Hall of India
Management and Cost AccountingDrury ColinInternational Thomson Business Press
Cost and Management AccountingDuncan WillamsonPearson Education
Managerial AccountingDominiak & LouderbackSouth Western College, Publishing Company