05 LAW &

ETHICS
SECTION A: COMMERCIAL LAWS

Module 01. Introduction to Law and Legal System in India

01.01 Introduction to The Constitution of India

01.02 Fundamental Rights
01.03 Sources of Law
01.04 Primary and Subordinate Legislations
01.05 Legislatives Processes in India
01.06 Legal Methods including Judicial Alternative Dispute Resolution (ADR) Process
in India
01.07 Legal Terminology and Maxims

Module 02. Indian Contracts Act, 1872

02.01 Essential Elements of a Contract, Offer and Acceptance

02.02 Void and Voidable Agreements
02.03 Consideration
02.04 Legality of Object
02.05 E-Contracts - Essential Requirements for Enforceability
02.06 Constraints to Enforce Contractual Obligations
02.07 Quasi-Contracts, Contingent Contracts, Termination or Discharge of Contracts
02.08 Assignment of Contractual Rights and Obligations
02.09 Representations and Warranties
02.10 Impossibility and Force Majeure
02.11 Termination by Novation
02.12 Tender procedure of Government Contract
02.13 Special Contracts - Indemnity and Guarantee; Bailment and Pledge, Laws of
Agency

Module 03. Sale of Goods Act, 1930

03.01 Essential Conditions of a Contract of Sale

03.02 Transfer of Ownership
03.03 Conditions and Warranties
03.04 Performance of the Contract of Sale
03.05 Rights of Unpaid Seller
03.06 Auction Sales

Module 04. Negotiable Instruments Act, 1881

04.01 Definition and Features of Negotiable Instrument

04.02 Crossing, Endorsement and Material Alteration
04.03 Acceptance, Assignment and Negotiation
04.04 Rights and Liabilities of Parties
04.05 Dishonour of a Negotiable Instrument (with special emphasis on Section 138)
Module 05. Indian Partnership Act, 1932

05.01 Nature of Partnership

05.02 Rights and Liabilities of Partners
05.03 Formation, Reconstitution and Dissolution of Firms

Module 06. Limited Liability Partnership Act, 2008

06.01 Concept, Formation, Membership, Functioning

06.02 Dissolution

SECTION B: INDUSTRIAL LAWS

Module 07. Factories Act, 1948

Module 08. Payment of Gratuity Act, 1972
Module 09. Employees Provident Fund and Miscellaneous Provisions Act, 1952
Module 10. Employees State Insurance Act, 1948
Module 11. The Code on Wages, 2019

SECTION C: CORPORATE LAWS

Module 12. Companies Act, 2013

12.01 Company Types, Promotion, Formation and Related Procedures (Sec 1 to

Sec 122 of Companies Act, 2013)
12.02 Director - Role, Responsibilities, Qualification, Disqualification, Appointment, Retirement,
Resignation, Removal, Remuneration and Powers, Directors Identification Number
12.03 Operational and Financial Control
12.04 Internal Financial Control for Financial Reporting (Section 134,143 and 177)
12.05 Rights of Shareholders
12.06 Key Managerial Personnel

SECTION D: BUSINESS ETHICS

Module 13. Business Ethics and Emotional Intelligence

13.01 Ethics – Meaning, Importance and Nature

13.02 The “Seven Principles of Public Life” – Selflessness, Integrity, Objectivity, Accountability,
Openness, Honesty and Leadership
13.03 The Relationship between Ethics and Law
13.04 Business Ethics and its Relevance to Business
13.05 Values and Attitudes of Professional Accountants
13.06 Primary Norms of Business Ethics - Honesty, Accountability etc., the Application in Decisions
regarding Employers, Finance and Trading
13.07 Internal Code of Ethics
13.08 Ethics in Business Dealings
13.09 Case Study on Business Ethics
13.10 Emotional Intelligence (Concept and Importance)
06 FINANCIAL
ACCOUNTING
SECTION A: ACCOUNTING FUNDAMENTALS

Module 1. Accounting Fundamentals

01.01 Four Frameworks of Accounting (Conceptual, Legal, Institutional and

Regulatory)
01.02 Accounting Principles, Concepts and Conventions
01.03 Capital and Revenue Transactions - Capital and Revenue Expenditures, Capital and Revenue
Receipts
01.04 Accounting Cycle – Charts of Accounts and Codification Structure, Analysis of Transaction –
Accounting Equation, Double Entry System, Books of Original Entry, Subsidiary Books and
Finalisation of Accounts
01.05 Journal (Day Books and Journal Proper - Opening Entries, Transfer Entries, Closing Entries,
Adjustment Entries, Rectification Entries), Ledger
01.06 Cash Book, Bank Book, Bank Reconciliation Statement
01.07 Trial Balance (Preparation and Scrutiny)
01.08 Adjustments and Rectifications
01.08.01 Depreciation and Amortisation
01.08.02 Adjustment Entries and Rectification of Errors
01.08.03 Accounting Treatment of Bad Debts and Provision for Doubtful Debts, Provision for
Discount on Debtors and Provision for Discount on Creditors

SECTION B: ACCOUNTING FOR SPECIAL TRANSACTIONS

Module 2. Bills of Exchange, Consignment, Joint Venture

SECTION C: PREPARATION OF FINANCIAL STATEMENTS

Module 3. Preparation of Final Accounts of Commercial Organisations, Not-for-Profit

Organisations and from Incomplete Records

03.01 Preparation of Financial Statements of Commercial Organisations (other than Corporate

Form of Organisation)
03.01.01 Income Statement
03.01.02 Balance Sheet
03.02 Preparation of Financial Statements of Not-for-Profit Organisation
03.02.01 Preparation of Receipts and Payments Account
03.02.02 Preparation of Income and Expenditure Account
03.02.03 Preparation of Balance Sheet
03.03 Preparation of Financial Statements from Incomplete Records
SECTION D: PARTNERSHIP ACCOUNTING

Module 4. Partnership Accounting

04.01 Admission of Partner

04.02 Retirement of Partner
04.03 Death of Partner
04.04 Treatment of Joint Life Policy
04.05 Dissolution of Partnership Firms including Piecemeal Distribution
04.06 Amalgamation of Partnership Firms
04.07 Conversion of Partnership Firm into a Company and Sale of Partnership Firm to a Company
04.08 Accounting of Limited Liability Partnership

SECTION E: LEASE, BRANCH AND DEPARTMENTAL ACCOUNTS ETC.

Module 5. Lease Accounting

Module 6. Branch (including Foreign Branch) and Departmental Accounts
Module 7. Insurance Claim for Loss of Stock and Loss of Profit
Module 8. Hire Purchase and Instalment Sale Transactions

SECTION F: ACCOUNTING STANDARDS

Module 9. Accounting Standards

09.01 Introduction to Accounting Standards

09.01.01 GAAP
09.01.02 AS
09.01.03 Convergence to Ind AS – Applicability and Scope
09.02 Specified Accounting Standards with Comparative Provisions under Ind AS
09.02.01 Disclosure of Accounting Policies (AS 1)
09.02.02 Property Plant and Equipment (AS 10)
09.02.03 The Effects of Changes in Foreign Exchange Rate (AS 11)
09.02.04 Accounting for Government Grants (AS 12)
09.02.05 Borrowing Costs (AS 16)
09.02.06 Accounting for Taxes on Income (AS 22)
07 TAX
SECTION A: DIRECT TAXATION

Module 1. Basics of Income Tax Act

01.01 Basic Concepts, Basis of Charge and Capital & Revenue Receipts
01.02 Residential Status and Scope of Total Income
01.03 Agricultural Income
01.04 Income which do not form part of Total Income

Module 2. Heads of Income

02.01 Salaries
02.02 Income from House Property
02.03 Profits and Gains of Business or Profession including Tax Audit u/s 44AB; and Provisions u/s
43A, 43B, 43AA, 44AD, 44ADA and 44AE (excluding Sections 42 to 44DB)
02.04 Capital Gains
02.05 Income from Other Sources

Module 3. Total Income and Tax Liability of Individuals & HUF

03.01 Income of Other Person included in Assesses Total Income (Clubbing of

Income)
03.02 Set off and Carry Forward of Losses
03.03 Deductions, Rebate and Relief
03.04 Taxation of Individual (including AMT but excluding Non-resident) & HUF
03.05 Advance Tax
03.06 Tax Deducted at Source & Tax Collected at Source (excluding Non-resident)
03.07 Filing of Return of Income
03.08 PAN
03.09 Self-Assessment & Intimation

SECTION B: INDIRECT TAXATION

Module 4. Concept of Indirect Taxes

04.01 Concept and Features of Indirect Taxes

04.02 Difference between Direct and Indirect Taxes
04.03 Background of erstwhile Indirect Taxes (Central Excise, VAT etc.)
04.04 Constitutional Validity of GST
Module 5. Goods and Services Tax (GST) Laws

05.01 Introduction to GST Law

05.02 Levy and Collection of CGST and IGST
05.03 Basic concepts of Time, Place and Value of Supply
05.04 Input Tax Credit
05.05 Computation of GST Liability
05.06 Registration
05.07 Tax Invoice – Electronic Way Bill
05.08 Returns and Payment of Taxes

Module 6. Customs Act & Rules

06.01 Customs Act-Basic Concepts and Definitions

06.02 Types of Duties
06.03 Valuation Rules
06.04 Computation of Assessable Value and Duties
 08 COST
ACCOUNTING
SECTION A: INTRODUCTION TO COST ACCOUNTING

Module 1. Introduction to Cost Accounting

01.01. Introduction
01.02. Important Cost Accounting Terms
01.03. Elements of Cost
01.04. Classification of Cost
01.05. Preparation of Cost Sheet and Ascertainment of Profit

Module 2. Cost Ascertainment – Elements of Cost

02.01 Material Costs

02.01.01 Procurement of Materials
02.01.02 Inventory Management and Control
02.01.03 Inventory Accounting and Valuation
02.01.04 Physical Verification, Slow and Non-moving Stock and Treatment of Losses
02.01.05 Scrap, Spoilage, Defectives and Wastages
02.02 Employee Costs
02.02.01 Time Keeping, Time Booking and Payroll
02.02.02 Principles and Methods of Remuneration and Incentive Schemes
02.02.03 Overtime and Idle Time
02.02.04 Employee Cost Reporting
02.02.05 Labour Turnover
02.03 Direct Expenses
02.03.01 Definition and Examples
02.03.02 Nature of Direct Expense
02.03.03 Direct vs. Indirect Expense
02.04 Overheads
02.04.01 Collection, Classification, Apportionment and Allocation of Overheads
02.04.02 Absorption and Treatment of Over or Under Absorption of Overheads
02.04.03 Reporting of Overheads Costs

Module 3. Cost Accounting Standards (CAS 1 to CAS 24)

Module 4. Cost Book Keeping

04.01 Cost Book - Keeping

04.02 Reconciliation of Costing and Financial Profit
04.03 Integrated Accounting System
SECTION B: METHODS OF COSTING

Module 5. Methods of Costing

05.01 Job Costing

05.02 Batch Costing
05.03 Contract Costing
05.04 Process Costing – Normal and Abnormal Losses, Equivalent Production, Inter- process
Profit, Joint and by Products
05.05 Operating Costing – Transport, Hotel and Healthcare

SECTION C: COST ACCOUNTING TECHNIQUES

Module 6. Cost Accounting Techniques

06.01 Marginal Costing

06.01.01 Concept of Marginal Cost and Marginal Costing
06.01.02 Absorption Costing vs. Marginal Costing
06.01.03 Cost - Volume - Profit (CVP) Analysis
06.01.04 Margin of Safety
06.01.05 Application of Marginal Costing for Decision Making
06.02 Standard Costing and Variance Analysis
06.02.01 Concept of Standard Cost and Standard Costing
06.02.02 Advantages and Limitations
06.02.03 Computation and Analysis of Variances (Material and Labour Costs
only)
06.03 Budget and Budgetary Control
06.03.01 Concepts, Types of Budget
06.03.02 Budgetary Control vs. Standard Costing
06.03.03 Advantages and Limitations
06.03.04 Preparation of Budgets
 09
OPERATIONS
MANAGEMENT
AND
STRATEGIC
MANAGEMENT
SECTION A: OPERATIONS MANAGEMENT

Module 1. Introduction

01.01 Scope
01.02 Characteristics of Modern Operations Functions
01.03 Recent Trends in Production and Operations Management

Module 2. Operations Planning

02.01 Demand Forecasting

02.02 Capacity Planning
02.03 Facility Location and Layout
02.04 Resource Aggregate Planning
02.05 Material Requirements Planning
02.06 Manufacturing Resource Planning
02.07 Economic Batch Quantity

Module 3. Designing of Operational Systems and Control

03.01 Product Design

03.02 Process Design and Selection
03.03 Product Life Cycle
03.04 Process Planning and Selection
03.05 Design Thinking

Module 4. Application of Operation Research - Production Planning and Control

04.01 Introduction
04.02 Production Planning and Control
04.03 Control Measures – Time & Motion Study, Method Study, Work Study
04.04 Optimum Allocation of Resources - LPP
04.05 Transportation
04.06 Job Evaluation, Job Allocation - Assignment
04.07 Scheduling and Queuing Models
04.08 Simulation and Line Balancing
04.09 Lean Operations4.10 JIT

Module 5. Productivity Management and Quality Management

05.01 Measurement Techniques of Productivity Index

05.02 Five Key Aspects of Productivity
05.03 TQM Basic Tools and Certification
05.04 ISO Standard Basics
Module 6. Project Management, Monitoring and Control

6.1 Project Planning

6.2 Project Life Cycle
6.3 Gantt Charts
6.4 PERT and CPM
6.5 Basics of MS Project

Module 7. Economics of Maintenance and Spares Management

7.1 Breakdown Maintenance

7.2 Preventive Maintenance
7.3 Routine Maintenance
7.4 Replacement of Machine
7.5 Spare Parts Management

SECTION B: STRATEGIC MANAGEMENT

Module 8. Introduction

8.1 Introduction to Strategy and Strategic Management

8.2 Alignment of Strategy with Vision, Mission and Culture
8.3 Objectives of Strategic Management
8.4 Organisational Genomics
8.5 Alignment with Individual Level Objective and Organisational Objective
8.6 Balanced Score Card
8.7 EVA – Driven Responsibility Accounting

Module 9. Strategic Analysis and Strategic Planning

9.1 Analysis of Business Environment

9.2 PESTEL, Value Chain and Porter’s 5 Framework
9.3 SWOTC Analysis (Industry Sector and Company)
9.4 Portfolio Analysis and BCG Matrix
9.5 Stages in Strategic Planning
9.6 Alternatives in Strategic Planning

Module 10. Formulation and Implementation of Strategy

10.1 Strategy Formulation - Production Strategy, Supply Chain Strategy, Marketing Strategy, Human
Resource Strategy
10.2 Structuring of Organisation for Implementation of Strategy
10.3 Strategic Business Unit
10.4 Business Process Re-engineering
10.5 Management Control, Operational Control and Task Control
10.6 Goal Congruence
Module 11. Digital Strategy

11.01 Introduction
11.02 Digital Transformation for Competitive Advantages
11.03 Innovations and Disruptive Business Models
11.04 Emerging Trends in Digital and Social Marketing Strategies
 10 Corporate
ACCOUNTING
AND AUDITING
SECTION A: CORPORATE ACCOUNTING

Module 1. Accounting for Shares and Debentures

01.01 Issue of Shares, Forfeiture of Shares, Rights Issue,Bonus Issue, Sweat Equity Shares, Employee
Stock Option and Stock Purchase Scheme, Buy-back of Shares
01.02 Redemption of Preference Shares, Issue and Redemption of Debentures
01.03 Underwriting of Securities

Module 2. Preparation of the Statement of Profit and Loss and Balance Sheet (As per
Schedule III of Companies Act, 2013)

02.01 Statement of Profit and Loss (as per Division I of Schedule III) 6
02.02 Balance Sheet (As per Division I of Schedule III)
02.03 An Introduction to Division II of Schedule III

Module 3. Cash Flow Statement

Module 4. Accounts of Banking, Electricity and Insurance Companies

Module 5. Accounting Standards

05.01 Conceptual Framework

05.02 Specified IND AS with Comparative Provisions under AS

SECTION B: AUDITING

Module 6. Basic Concepts of Auditing

06.01 Nature, Scope Objectives and Significance of Auditing

06.02 Brief Introduction to Auditing Standards
06.03 Audit Engagement, Audit Program, Audit Documentations, Audit Evidence, Audit Note Book
06.04 Audit Risk, Assessment of Audit Risk, Internal Check, Internal Control, Internal Audit - Industry
Specific, Interplay between Internal Audit and Statutory Audit, Risk based Internal Audit,
Internal Financial Control and Internal Control over Financial Reporting
06.05 Audit Sampling, Audit Techniques and Analytical Procedure (including Scrutiny of Trial Balance
and Grouping Schedules)
06.06 Application of Technology in Audit and Audit Trail
Module 7. Provision Relating to Audit under Companies Act, 2013

07.01 Statutory Audit – Auditor’s Eligibility, Qualifications, Disqualifications, Appointment,

Resignation, Rotation, Remuneration, Removal, Rights and Duties, Liabilities, Branch Audit and
Joint Audit, Role of Audit Committee
07.02 Cost Audit
07.03 Secretarial Audit
07.04 Audit of Various Items of Financial Statements (with Special Emphasis on Audit of Inventory
and PPE)
07.05 Audit Report, Report vs. Certificate, Reporting Requirements under Companies Act, Contents
of the Reports and Modifications in the Report (with Coverage of CARO)
07.06 Report on Internal Financial Control over Financial Reporting
07.07 National Financial Reporting Authority (NFRA)

Module 8. Auditing of Different Types of Undertakings

08.01 Audit of Education Institutions

08.02 Audit of Healthcare Organisations
08.03 Audit of Organisations in Hospitality Sector
08.04 Audit of Banks
08.05 Audit of Cooperative Societies
08.06 Audit of Local Self Government
11 FINANCIAL
MANAGEMENT
AND BUSINESS
DATA
ANALYTICS
SECTION A: FINANCIAL MANAGEMENT

Module 1. Fundamentals of Financial Management

01.01 Introduction to Financial Management

01.02 Time Value of Money
01.03 Risk and Return

Module 2. Institutions and Instruments in Financial Markets

02.01 Financial Institutions

02.02 Capital Market
02.03 Money Market

Module 3. Tools for Financial Analyses

03.01 Comparative, Common-Size Financial Statements and Trend Analysis

03.02 Financial Ratio Analysis
03.03 Fund Flow Statement – Preparation and Analysis
03.04 Cash Flow Statement – Preparation and Analysis

Module 4. Sources of Finance and Cost of Capital

04.01 Sources of Finance

04.02 Cost of Capital

Module 5. Capital Budgeting

05.01 Introduction to Capital Budgeting

05.02 Identification of Cash Flows and Forecasting
05.03 Cash Flow vs. Profit of the Firm
05.04 Evaluation Techniques – Non-discounted and Discounted Cash Flow
Methods
05.05 Hurdle Rate in a Conglomerate Environment

Module 6. Working Capital Management

06.01 Introduction to Working Capital Management

06.02 Receivable Management
06.03 Payable Management
06.04 Inventory Management
06.05 Management of Cash and Cash Equivalents
06.06 Financing Working Capital
Module 7. Financing Decisions of a Firm

07.01 Capital Structure and Capital Stacking

07.02 Leverage Analyses and EBIT – EPS Analysis
07.03 Dividend Decisions and Dividend Theories

SECTION B: BUSINESS DATA ANALYTICS

Module 8. Introduction to Data Science for Business Decision-making

08.01 Meaning, Nature, Properties, Scope of Data

08.02 Types of Data in Finance and Costing
08.03 Digitization of Data and Information
08.04 Transformation of Data to Decision Relevant Information
08.05 Communication of Information for Quality Decision-making
08.06 Professional Skepticism regarding Data
08.07 Ethical Use of Data and Information

Module 9. Data Processing, Organisation, Cleaning and Validation

09.01 Development of Data Processing

09.02 Functions of Data Processing
09.03 Data Organization and Distribution
09.04 Data Cleaning and Validation

Module 10. Data Presentation: Visualisation and Graphical Presentation

10.01 Data Visualisation of Financial and Non-Financial Data

10.02 Objective and Function of Data Presentation
10.03 Data Presentation Architecture
10.04 Dashboard, Graphs, Diagrams, Tables, Report Design
10.05 Tools and Techniques of Visualisation and Graphical Presentation

Module 11. Data Analysis and Modelling

11.1 Process, Benefits and Types of Data Analysis

11.2 Data Mining and Implementation of Data Mining
11.3 Analytics and Model Building (Descriptive, Diagnostic, Predictive,
Prescriptive)
11.4 Standards for Data Tagging and Reporting (XML, XBRL)
11.5 Cloud Computing, Business Intelligence, Artificial Intelligence, Robotic Process Automation and
Machine Learning
11.6 Model vs. Data-driven Decision-making
 12
Management
ACCOUNTING
SECTION A: INTRODUCTION TO MANAGEMENT ACCOUNTING

Module 1. Introduction to Management Accounting

01.01 Conceptual Understanding

01.02 Relationship between Management Accounting and Cost Accounting
01.03 Role of a Management Accountant in Modern Business World

SECTION B: ACTIVITY BASED COSTING

Module 2. Activity Based Costing

02.01 Traditional Cost System

02.02 Definition and Meaning of Activity Based Costing (ABC)
02.03 Steps in ABC System
02.04 Cost Pools and Cost Drivers
02.05 Merits and Demerits of ABC System
02.06 Activity Based Information and Decision Making

SECTION C: DECISION MAKING TOOLS

Module 3. Marginal Costing

03.01 Concept
03.02 Cost-Volume-Profit Analysis
03.03 Break-Even Charts and Profit Charts
03.04 Multiple Product Break Even Analysis
03.05 Differential Cost Analysis
03.06 Marginal Costing Vs. Absorption Costing (advanced applications)

Module 4. Applications of Marginal Costing in Short Term Decision Making

04.01 Pricing Decision

04.02 Make or Buy decisions
04.03 Accept an Order or Reject
04.04 Optimum Utilization of Factors of Production [Limiting Factor Analysis]
04.05 Replacement Decision
04.06 Evaluation of Alternative Choices
04.07 Subcontracting and Ancillarisation
04.08 Expansion of Business
04.09 Shutdown or Continue
Module 5. Transfer Pricing

05.01 Concept
05.02 Methods and Techniques
05.03 Divisional Performance and Problem of Goal Congruence
05.04 Determination of Inter-departmental or Inter-company Transfer Price
05.05 International Transfer Pricing

SECTION D: STANDARD COSTING AND VARIANCE ANALYSIS

Module 6. Standard Costing and Variance analysis

06.01 Material and Labour Variances

06.02 Variable Overhead Variance
06.03 Fixed Overhead Variance
06.04 Sales Variance
06.05 Interpretation of Variances and Inferences Drawn

SECTION E: FORECASTING, BUDGETING AND BUDGETARY CONTROL

Module 7. Forecasting, Budgeting and Budgetary Control

07.01 Introduction
07.02 Rationale for Budgets
07.03 General principles in the Budgetary process
07.04 Formulation of various types of Budgets

SECTION F: DIVISIONAL PERFORMANCE MEASUREMENT

Module 8. Divisional Performance Measurement

08.01 Organisations with Multiple divisions, Benefits of Decentralization

08.02 DuPont Analysis
08.03 Divisional Performance Measurement tools – ROI, Residual Income
08.04 Economic Value Added – Definition, EVA Centre, EVA Drivers
08.05 Introduction to Learning Curve
08.06 Balanced Score Card for Variable Pay Management

SECTION G: RESPONSIBILITY ACCOUNTING

Module 9. Responsibility Accounting

09.01 Concept of Cost, Revenue, Profit and Responsibility Centres

09.02 Preparation of Responsibility Report
SECTION H: DECISION THEORY

Module 10. Decision Theory

10.01 Decision Making under Certainty

10.02 Decisions Making under Risk
10.03 Decision Making under Uncertainty
10.04 Decision Tree