M Com
Note: The syllabus prescribed for the entrance test has been divided into fifteen units. Each unit carries a weightage of four marks. Paper setters are required to set four multiple choice type questions with only one correct or most appropriate answer separately for each unit, giving uniform representation to the whole syllabus contained therein.
Unit: 1st
Need for Accounting and its role, Accounting Theories, Concepts and Conventions; the GAAP, Design of Accounting policies & Accounting system, Accounting standards and their application, Accounting of Non Trading concerns: Preparation of income and Expenditure Accounts, Receipts and payments accounts. Royalty accounts.
Unit 2nd
Hire purchase system, Difference between Hire purchase and installment system, accounting treatment in the books of Hire Vendor and Hire Purchaser, Branch Accounts , types of branches, accounting system for dependent branches, debtors systems, Departmental accounts, Insolvency accounts: insolvency of Individuals and partnership firms, Preparation of statement of affairs and deficiency Account.
Unit 3rd
Audit: objects and various classes of audit. Internal control, internal audit and internal check, audit programme, evidence and working papers, audit sampling. Audit of limited companies and public undertaking, Qualification and appointment of company auditor; their powers, duties and liabilities, Audit of share capital and debentures: depreciation and reserves , divisible profits and dividends , vouching verification and valuation of assets and liabilities.
Unit 4th
Statistics: Laws of statistics, methods of collection of data, sources of secondary data ,Causes & Sampling - sampling principles, objectives & types, sampling & non sampling errors, methods of reducing sampling errors , Measures of skewness, measures of curtosis, index numbers- methods of construction, fishers ideal formula, Paschees formula.
Unit 5
Correlation: methods of calculating coefficient of correlation viz, Karl Pearsons method, Rank correlation, Concurrent deviation, Regression method of finding regression equation & estimation of regression lines, Association of attributes: method of calculating association.
Unit 6th
Nature and scope of economics, micro and macro environment, economic concepts, wants, goods, utility, price, value, wealth, law of demand, elasticity of demand and supply, Law of Consumption, Diminishing marginal utility, law of equi-marginal utility, indifference curve analysis, Consumer surplus. National income: concept- GDP, GNP, NNP, Factors and computation of national income, National income and economic welfare, Inflation and Deflation, Economic systems, Business Environment.
Unit 7th
Nature and functions of money, significance of money in modern economic life, Meaning & measurement of value of money, Fisher’s Quantity theory of Money and Cambridge Equation, Construction and uses of index number, Monetary Standards: full-fledged gold standard, Paper currency, Gresham’s Law, Functions of commercial banks, Credit and limitations, Central Banking: Concepts and functions. Methods of credit control, RBI- functions, NABARD, World bank
Unit 8th
Company final account & reports: Annual accounts and balance sheet, Analysis , interpretations and types of financial statements , Ratio Analysis, classification of ratio , limitations of ratio analysis, Alteration of share capital, Internal reconstruction, Amalgamation, absorption and external reconstruction, Reconstruction of share capital, liquidation of joint stock company , modes of winding-up, Procedure for liquidation.
Unit 9th
Accounts of banking companies: preparation of profits and losses account, preparation of balance sheet under banking Regulation Act, Important terms in the preparation of final accounts of banking companies. Accounts of insurance companies: Life insurance, preparation of revenue accounts, balance sheet, General insurance- preparation of revenue Account and balance sheets.
Unit 10th
Company law in India, Attributes of company lifting the corporate veil Incorporation of a company, procedure for registration, effect of incorporation, Kinds of companies, conversion of private company into public company, Special privileges of private companies, government companies and their special provisions. Management of company - Directors appointment, qualification, powers, duties, liability and legal positions, Memorandum of association, articles of association, doctrine of indoor management , Share , debentures , Winding-up of a Company, meaning ,Modes, procedure for compulsory Winding-up, procedure for voluntary winding-up , & winding-up through court.
Unit 11th
Business law; scope & source, Agreement and contract, Definition, Offer, Acceptance, Consideration and free consent, Contract of Indemnity, Guarantee, Bailment and Pledge, Sale of Goods act 1930, characteristics and definition of agency, Doctrine of caveat emptor, MRPT Act ,FEMA Act 1999.
Unit 12th
Cost Accounting: definition, Purpose and functions, Methods and techniques of costing, Cost accounting versus Financial Accounting, Cost concepts and cost classification, Cost Classification: Functional basis, Activity basis, and Component basis. Overheads: Fixed and variable, Single or Output costing, Components of costs, output costing, cost sheet, production account, estimated cost sheet and treatment of stock and scrap. Reconciliation of Cost and Financial Accounts: Causes of differences, Preparation of reconciliation statements, Contract Costing: Specific aspects, Determination of profit of complete and incomplete contracts.
Unit 13th
Management: Importance, Process of management, Management as science, Art and profession, Contribution of Taylor, Fayol & Mayo, Social responsibilities of management, Planning: its importance, process & Limitation, Decision making process and techniques. Organizational charts, Span of control, Delegation of authority, Centralization and decentralization.
Unit 14th
Importance & component of direction, Process & Types of communication in management , Barriers to effective communication, Importance of work motivation, Theories of motivation: Maslow and Herzberg, Importance , functions & Styles of leadership, Nature , significance & Steps in controlling, Types of management control, MBO.
Unit 15th
Income tax Act of 1961: Introduction, Basic concepts-Income, Previous year, Assessment year, Assessee, treatment of agricultural income. Treatment of residential status, Exemptions: total and partial, Advance payments of tax. Computation of income for salary, Computation of income from House property, computation & treatment of small traders, Computation of income from business and profession, Computation of income from capital gains, Deductions from Gross Total Income, Computation of Income from other sources, Assessment of Individuals, Assessment of firms and companies, Collection & recovery of tax.
