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SYLLABUS
'S -l
. l.
r PAPER 1: ADVANCED ACCOUNTING
(One paper - Three hours - 700 Marks) ,-,

Objective:
To acquire the ability to apply specific accounting standards and legislations to different
transactions and events and in preparation and presentation of financial statements ~ various
business entities.
Contents:
1. Process of formulation of Accounting Standards including Indian Accounting Standards (\FRS
converged standards) and IFRSs; Convergence vs Adoption; Objective and Concepts of
carve outs.
2. Framework for Preparat_ion and Presentation of Financial Statements (as per Accounting
Standards).
3. (i) Applicability of Accounting Standards to various entities

(ii) Application of Accounting Standards:

Disclosure of Accounting Policies
® AS 1:
Valuation of Inventories
® AS 2:

® AS 3: Cash Flow Statements

Contingencies and Events Occurring After the Balance Sheet Date
© AS 4: I

Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting
© AS 5: Policies

AS 7: Construction Contracts

AS 9: Revenue Recogniti~n

AS 10: Property, Plant and Equipment

AS 11: The Effects of Changes in Foreign Exchange Rates
AS 12: Accounting for Government Grants
AS 13: Accounting for Investments
 Accounting for Amalgamations (excluding inter- company holdings)
® AS14:
@ AS 15: Employee Benefits
AS 16: Borrowing Costs
®
@ AS 17: Segment Reporting

® AS 18: Related Party Disclosures Mt

@ AS 19: Leases
c~
@ AS 20: Earnings Per Share
Consolidated Financial Statements of single subsidiaries (excluding problems Cl
@ AS21: involving acquisition of Interest in Subsidiary at Different Dates, Cross holding,
Disposal of a Subsidiary and Foreign Subsidiaries). ( ~ )
@ AS 22: Accounting for Taxes on Income
©c
C
@ AS 23: Accounting for Investment in Associates in Consolidated Financial Statements
@ AS 24: Discontinuing Operations I

@ AS 25: Interim Financial Reporting

@ AS 26: Intangible Assets
@ AS 27: Financial Reporting of Interests in Joint Ventures
@ AS 28: Impairment of Assets
Cy AS 29: Provisions, Contingent Liabilities and Contingent Assets
4. Company Accounts
(i) Schedule Ill to the Companies Act, 2013 (Division I)
@.(ii) Preparation of financial statements_ - Statement of Profit and Loss, Balance Sheet and
£ash Flow Sta~ement ( 10 )
® (iii) Buy back of securities ( 1, ) r.-

(!} (iv) Accounting for reconstruction of companies. ( 1.l\) .

5. Accounting fo~ Branches including foreign branches. "'

Note : If either new Accounting Standards (AS), Announcements and Limited Revisions to AS are
issued or the earlier ones are withdrawn or new AS, Announcements and Limited Revisions to AS
are issued in place of existing AS, Announcements and Limited Revisions to AS, the syllabus will •
accordingly include/exclude such new developments in the place of the existing ones with effect
from the date to be notified by the Institute.
 CONT ENTS

MODULE I

CHAPTER 1: Introduc tion to Account ing Standards

1S
CHAPTER 2: Framework for Preparation and Presentation of Financial
19,
Statements

@ CHAPTER 3: Applicab ility of Account ing Standards

CHAPTER 4: Presentation & Disclo~ures Based Account ing Standards

ts
MODULE II

CHAPTER 5: Assets Based Account ing Standards

CHAPTER 6: Liabilitie s based Account ing Standards

CHAPTER_?: Account ing Standards based on items impactin g Financia I

Stateme nts

CHAPTER 8: Revenue· based Account ing Standards

CHAPTER 9: Other Account ing Standard s

CHAPTER 1O: Accoun ting Standard s for Consolid ated Financial

ind
Stateme nts

MODULE Ill

CHAPTER 11: Financial Statements of Companies

CHAPTER 12: Buy back of Securities

e
@CHAPTER 13: Amalga mation of companies

CHAPTER 14: Accoun ting for Recons truction of compan ies

CHAPTER 15: Accounting for Branches including foreign branches.( 1P)

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 vi ii

CONTENTS

M O D U LE 1
CHAPTER-1: Preliminary ~
(0 at te rs In ci de nt al th
er et o( i)
Co m pa ny an d M
@ CHAPTER-2: In co rp or at io n of
tm en t of Securities
(S)
Prospectus an d Al lo .
/r l ,) CHAPTER-3: .
tu re s®
Capital an d D eb en
- CHAPTER-4: Sh ar e
1

~
@
si ts by co m pa ni es
/ CHAPTER-5: Ac ce pt an ce of De po
ges (i )
® .1 CHAPTER-6: Re gi st ra tio n of Char

MODULE 2
m in is tra tio n @
C·HAPTER-7: M an ag em en t an d Ad
ym en t of D iv id en d
®
CHAPTER-8: De cl ar at io n an d Pa
ni es @
CHAPTER-9: Ac co un ts of Co m pa
Au di t an d Au di to rs
G:)
@ . CHAPTER-10: ({ )
at ed O ut si de In di a
CHAPTER-11: Co m pa ni es In co rp or

M O D U LE 3
Pa rtn er sh ip Ac t, 20 08 @
CHAPTER-12: The Li m ite d Li ab ili ty
@ CHAPTER-1: The G en er al Clause
s Ac t, 1897 @
at ut es(j)
© CHAPTER-2: In te rp re ta tio n of St
t, 1999 €)
([ ) CHAPTER-3: e Fo re ig n Ex ch an ge M an ag em en t Ac
..... Th
 CO NT EN TS

MODULE - 1

© Chap ter 1 Basic Concepts (,) Ill~ .

© Chap ter 2 Residence and Sc
@ Chap ter 3 Heads of Income:~~~,~
-t __, ( '1)
3)-- , ("-)
MOD ULE - 2 ~ =! C, ~ j t-"°(J M.\-, --
me(~ )lAl k
@ Chapter 4 1ncome of Othe r Persons inclu ded~ ~ Assessee's Tota l Inco
s (3 ))
@ Chapter 5 Aggr egati on of Income, Set-o ff and Carry Forw ard of Losse

@ Chap ter 6. Deductions from Gross Total Incom e (3) J e.-Vt-YiJ

Sour ce and Tax

@ Chapter 7 Advance Tax, Tax Dedu ction at
Collection at Source ( t)
@ Chapter 8 Provisions for filing Return of Incom e and Self- asse ssme
nt ( s-)
@ Chapter 9 Income-tax Liability - Com putat ion and Optim isatio n (JS-
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CONT ENTS

MODUL E-1

@ Chapter-1: Introduct ion to Cost and Management Accounting ( tt )

@ Chapter-2: Material Cost ( 9)

Chapter-3: Employee Cost and Direct Expenses ( I)
@
Chapter-4: Overhea ds-Absor ption Costing Method ( \o)
©
@ Chapter-5: Activity Based Costing ( 10)

@ Chapter-6: Cost Sheet ( 10 )

@ Chapter-?: Cost Accounti ng Systems ( , )

'

MODUL E-2
© Chapter-8: Unit & Batch Costing ( Rtn.\a ~
® Chapter-9: Job Costing ( ~ )

@Chapter-10: Process & Operation Costing ( 10 )

@ Chapter-11: Joint Products & By Products ( s- )

@ Chapter-12: Service Costing ( to )

© .Chapter-13: Standard Costing (to)

® Chapter-14: Margina l Costing ( \o )

@Chapter-15: Budget an·d Budgetary Control CI)

 CONTENTS

M O D U LE -1
Au di t ( ' )
bjective and Scope of
6: Chapte r 1 : Na tu re, O
an ni ng an d Au di t Pr og ra m m e ( ,~ )
tegy, Au di t Pl
® Chapter 2: Au di t Stra
l, (I O )
r 3: Risk As se ss m en t and In te rn al C on tro
@ Chapte
nce (I t. )
@ Chapter 4: Au di t Evide
)
di t of Ite m s of Fi na ncial Statements ( .tD
(J) Chapter 5 : Au

M O D U LE -2
n ( 4-)
@ Chapter 6 : Audit Documentatio
vi_ew ( It .)
@ Chapter 7 : Completion and Re
( ,~ )
@ Chapter 8 : Au di t Report
( 12-)
of Au di t of D iff er en t Ty pe of En tit ie s
atures
© Chapter 9: Special Fe
nks ( 8)
® Chapter 10 : Au di t of Ba
ts ( 10)
11 : Ethics an d Term s of Au di t Engagemen
@ Chapter
 xiv

CONTENTS

M OD UL E- 1 I

t{~ ) /
ope an d Ob jec ~ives of Fi~ancial M an ag em en
© Chapter-1: Sc
( .i )
__J
@ : Type s of Finan cin g
Chapter-2
An a1 I!i l
cia l An aly sis and Planning-Ratio
@ Chapter-3 : Fin an
al ( to·)
® Chapter-4: Cost of Capit
re (1 0)
cisions-Capital Structu
@ Chapter-5: Financing De • t~ Y o.
) ~
cisions-Leverages ( 10
@ Chapter-6: Financing De

MODULE - 2

(~ Chapter~ 7: Investm
ent Decisions ( 10) t'l t J 0.
®
@ Chapter-8: Dividend Decision
Chapter-9: M an ag em en
s ( f)
t of W or kin g Capital c,,) J-t"'TJ
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