M . ACCOUNTING ANNUAL EXAMINATION SCHEME 2015-16 & 2016-17

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M.COM. ACCOUNTING ANNUAL EXAMINATION SCHEME2015-16 & 2016-17[FOR REGULAR & PRIVATE (BOTH) STUDENTS]GENERAL INFORMATION FOR STUDENTS:1.THE COURSE STRUCTURE AND DURATION:The Course leading to the degree of Master of Commerce (Accounting) [M.Com.(Accounting)]of the Department of Accounting, Faculty of Commerce & Management Studies, Jai Narain VyasUniversity, Jodhpur (Rajasthan) is a Two-Year full-time course run on ANNUAL BASIS FORREGULAR & PRIVATE (BOTH) STUDENTS.The structure of the course will comprise five-papers in each YEAR {of 100 marks each and ofThree (3) hours duration for theory papers.M.COM. ACCOUNTING PREVIOUSPaper No. Subject106Advanced Business Statistics107Advanced Cost & Management Accounting108Taxation Law & Practice109Financial Management110Decision ScienceMarks100100100100100Duration3 Hours3 Hours3 Hours3 Hours3 HoursM.COM. ACCOUNTING FINALPaper No. Subject206Advanced Auditing207Cost Accounting for Managerial Decisions208Accounting Theory & Thought209Indirect Tax210Advanced Financial ManagementMarks100100100100100Duration3 Hours3 Hours3 Hours3 Hours3 Hours2.THE DIVISION:The Division shall be awarded to a successful candidate on the basis of marks of all theexaminations in respect of all the years as mentioned above on the following basis:M.Com. (Accounting) degree will be awarded out of 1000 MarksM.Com. (Accounting) Previous YearM.Com. (Accounting) Final YearTotal500 Marks500 Marks1000 Marks1 P a g e

rcentage of Marks60 and above48 and above but less than 6036 and above but less than 48Marks out of 1000600 and above480 and above but less than 600360 and above but less than 4801. The minimum pass marks will be 25 in each paper/subject and 36% in aggregate.2. The candidate who completes the course as private candidate will not be considered forawarding rank and/or Medal.3. There will be no provision for supplementary or carry forwarding of papers.4. No student will be permitted to register himself/herself simultaneously for more thanone post-graduate deg ree course.3.THE EXAMINATION SCHEME:The candidate will take the examinations at the end of the each year as per universityexamination system.The Annual examination system/ scheme will be followed.The examinations will be held invariably at a stretch i.e. without any gap./ or as per time tablenotified by the University.The dates of the commencement of annual examinations invariably will be as follows:M. Com (Previous) – First yearMarch – April of each yearM. Com (Final) – Second yearMarch – April of each yearAs far as possible the results will be declared within Eight weeks from the completion of theexaminations of the respective year but there is no guarantee about this.6.PATTERN OF EXAMINATION PAPERQuestion Paper will be divided into three sections namely, ‘Section – A’, ‘Section – B’ and‘Section – C’ in each section the questions will be asked as follows:Section – A:Intends to test the clarity of concepts and to-the-point knowledge UNIT-wise.(T-1)10 very small questions, (two questions from each UNIT). Each question willcarry 2 ma rks. Answer of each question shall be limited up to 30 words. This partwill be compulsory.2 P a g e

Section – B:(T-2)Section – C:students.(T-3)10 x 2 20Intends to test the knowledge UNIT-wise and capability to elaborate and restrainwithin limited words.10 small questions (two questions from each UNIT) students will be required toanswer one question from each UNIT. Each question will carry 07 ma rks. Answerof each question shall be limited up to 250 words.5 x 7 35Intends to test the overall-knowledge and capability to explain in detail; of the5 questions (one question from each UNIT). Students will be required to answerany three questions. Each question will carry 15 marks. Answer of each questionshall be limited up to 500 words3 x 15 45T1:Very Small QuestionT2:Small QuestionT3:Detailed QuestionNote: In case of Numericals, Figures, Charts, Diagrams and Graphs, the above limit of wordsshall not apply.IF UNIVERSITY NOTIFIES ANY OTHER PATERN OF EXAMINATION PAPER THEN THAT WILLSUPPRESSED TO THE ABOVE PATTERN.3 P a g e

M.COM. PREVIOUS 2015-16PAPER I (PAPER 106): ADVANCED BUSINESS STATISTICSObjectives:The Objective of the course is to acquaint the students with the application ofstatistical tools in the area of Business decision-making and accounting researchUNIT 1:Association of Attributes (The study will include Two and Three Attributes): Classfrequencies, Association between attributes, consistency of data; Methods ofstudying association including Yule's Coefficient of Association, Coefficient ofcolligation, coefficient of contingency, Criterion of Independence, Chi-squaretest, goodness of fit.UNIT 2:Probability and Theoretical Frequency Distribution: Probability-basic concepts inprobability and its types, Probability Rules, Probabilities under condition ofstatistical independence and under condition of statistical dependence, Bay'sTheorem, Mathematical ExpectationsTheoretical Frequency Distribution: Binomial, Poisson and Normal Distributions Choosing the correct Proba bility DistributionUNIT 3:Sampling and Sampling Distribution: Introduction to sampling and basic conceptsfor Hypothesis Testing Procedure and Estimation of parameter, Testing ofHypotheses and Estimation of Parameter for large samples (Attributes andVariables)UNIT 4:Testing of Hypothesis and estimation of parameter for small samples (Variables)withstudent's t-test, Z-transformation. F-test, Analysis of Variance (ANOVA Test)UNIT 5:Non-Pa rametric Tests – an introduction: The sign test for paired data (n 12):Rank sum Tests: The Mann-Whitney U Test (n1 n2 20); The Kruskal Wallis Test(nj 5): One Sample Runs Test (n1 n2 20) The Kolmogorov Smirrnov Test (n 35).Statistical Quality Control, Concept, Control Charts – Mean, Standard Deviationand Range Chart, P-Chart, np-Chart and C-Chart.SUGGESTED READINGSCroxtan and Cowden : Applied General StatisticsCocharar , W.G. : Sampling TechniquesElhance D.N. : Fundamentals of StatisticsKarmel, P.H.: Applied Statistics for EconomicsNagar , K.N. : Sankhyaki ke Mool TatvaGupta S.P.: Statistical MethodsSancheti and Kapoor : Statistical MethodGupta, B.N.: StatisticsSharma, K.R.: Research MethodologyJean, D Gibbons: Non-Para metric Statistical Inference4 P a g e

PAPER II (PAPER 107): ADVANCED COST & MANAGEMENT ACCOUNTINGUNIT 1:Overview of Cost Accounting Concepts and Practices: Different types of cost,Cost centre, Cost UNIT, Basic Cost concept, Standards for General CostAccounting Practices, Cost classification, Objective of measurement of Direct andIndirect Cost.Material Management: Direct & Indirect Materials, Classification & Codificationof Materials, Purchase Procedure, Stores Routines, Material Control & InventoryControl, Material & Production Losses, Material Cost.Labour: Classification, Methods of Remuneration and Incentives, PayrollAccounting and Labour Cost Control.Direct Expenses: Introduction, Nature, Accounting.UNIT 2:Overhead: Classification – Functional, Behavioural, Methods of Segregating semiVariable Cost; Allocation, Apportionment and Absorption of Overhead, Over orUnder – Absorption of Overheads.UNIT 3:Specific Order Costing: Job, Batch & Contract Costing.Process Costing: Basic, Costing of Abnormal Loss or Gain, Joint Products and ByProducts, Work-in-progress (Equivalent Production), Inter-Process Profits.Uniform costing and inter firm comparisons.UNIT 4:Meaning, objects, domain and tools of Management Accounting, Position andfunctions of management accounta nt, Accounting as an information system formanagement. Sources and tools of interpretation of financial statements;accounting ratios for financial analysis and controlUNIT 5:Funds Flow Analysis & Cash Flow Analysis – AS-3Trend Analysis, Comparative statement Analysis/Common size proforma AnalysisMethod of Presenting data for Management: Information system/ReportingSUGGESTED READINGPrasad, N.K.: Principles and Practice of Cost AccountingHorng ren : Cost Accounting A Managerial EmphasisSaxena V.K., Vashist C.D.: Cost Accounting, Sultan Chand & Sons, New DelhiBhattacharyya Asish K., Principles & Practice of Cost Accounting, Wheller Publishing, N. DelhiBhar, B.K. : Cost Accounting Method of ProblemsICMAI of India : Break Even Concept and Practical Dimensions5 P a g e

PAPER III (PAPER 108): TAXATION LAW & PRACTICEUNIT 1:Income Tax Law, Scheme of Taxation, Important Concepts, ConstitutionalProvisions: Central and State Subjects; Distribution of tax proceeds among theStates and Central - a brief study. Scope of Total Income and Residential Status,Income which do not form part of Total Income, Income under the Head“Salaries”, Income from House PropertyUNIT 2:Income under the Head: Profits and Gains of Business or Profession, CapitalGains, Income from other SourcesUNIT 3:Clubbing of Income, Set-Off or Carry- Forward of Losses, Deductions underSections 80C to 80U. Assessment: Individuals & HUFUNIT 4:Assessment: Firms and AOP, Cooperative Societies, Trusts, Taxation of NonResidentsUNIT 5:Procedure of Assessment, Income Tax Authorities. Assessment of Companies,Appeals and Revision, Procedure of Assessment including Search-cases, Penaltiesand Prosecution.Double Taxation Relief (DTAA) ; Advanced Rulings, Settlement CommissionSUGGESTED READINGSinghania, V.K.: Direct Taxes Law and Practice, Taxman Publication (Pvt.) Ltd. DelhiDr. Ahuja Girish, Dr. Gupta Ravi: Direct Taxes, Law & Practice, Bharat Law House Pvt. Ltd.New DelhiBhattacharya S.: Indian Income Tax Law and Practice , Wadhwa and Co. Agra, NagpurSrinivas, E.A. : Corporate Tax Planning, Tata McGraw Hill Publishing Co., Ltd.Palkiwala , N.A. & Palkiwal, B.A. : Law and Practice of Income Tax , N.M. Tripathi , BombayIyengar Sampat , A.C. : Law of Income Tax , Bharat Publishing House , Allied PublishersShah , D.D. : A Treatise on Tax Planning , N.M. Tripathi , BombayLakhotia , A.N. : How to Save Income Tax by Tax Planning Asia Pub. House , CalcuttaRaina , H.P. : Corporate Taxation A Hand Book , Orient Law House , New Delhi/ AllahabadLakhotia , R.N. : Tax Management , A Pitmans Publication , Calcutta6 P a g e

PAPER IV (PAPER 109): FINANCIAL MANAGEMENTUnit 1:Financial Management: Meaning, Goal and fundamental principle, Importance ofFinancial Management. Financial System – Functions and Financial Markets,Sources of short term and long term finance. Cost of Capital – Floating cost andWeighted Average Cost of CapitalUnit 2:Capital Structure and Value of Firm: Modern and Traditional Approach, OptimumCapital structure, EBIT-EPS Analysis, LeveragesUnit 3:An overview of Working Capital Management: Component of Working Capital;Methods for Estimation of Working Capital, Working Capital Finance, differentsources of working capital.Unit 4:Project planning and capital budgeting; preparation of project report; financialprojection; sensitivity analysis in capital budgeting; impact of inflation on capitalbudgeting decisions, capital rationing risk analysis in capital budgeting andevaluation of risky investments; social cost-benefit analysis; simulation anddecision tree analysisUnit 5:Type of financing; project financing; intermediate and long term financing,negotiating term loans with banks and financial institutions; appraisal of termloans by financial institution in India, lease financing. Special problems relating toFinancing and management of small and medium enterprisesSUGGESTED READINGGiotman, L.J. : Funda mental of Financial ManagementPandey, I M. : Financial ManagementKhan, M.Y. & Jain. P.K. : Financial ManagementVenhorne J.C. : Financial Management and PolicyEzra Soloman : Financial ManagementAgarwal, M.D : Vitiya PrabandhKulshreshtha, R.S. : Vitiya PrabandhKulkarni, P.V. : Financial Management7 P a g e

PAPER V (PAPER 110) : DECISION SCIENCEUNIT 1:Operations Research : Nature, signification and purpose of Operations Research ;Basic concepts and Definition ; Methodology of Operations ResearchConstruction, solution and Testing of the Models; Implementation and Control ofthe SolutionUNIT 2:Linear Programming: Gra phical, trial and error and Simplex Methods; Dualityproblems. Transportation and Assignment ProblemsUNIT 3:Decision Theory : Statistical Decision Theory ; mea ning and scope ; decisionFramework ; Bayesian Decision Theory; Decision Tree; Game Theory and TwoPerson Zero sum Game, SimulationUNIT 4:Network Analysis ; PERT and CPM, SequencingUNIT 5:Experimental Designs; Latin Squares and Factorial Design, Queuing theory ;Other OR Techniques; Inventory Control , Input-output techniques, Replacementand Maintenance MethodsSUGGESTED READINGSLeonard, W. Hein : the Quantitative Approaches to Managerial DecisionsSesieni, Mauriee , Yespan, Arthur & Friedman, Lawrence : Operation Research Method andProblemsChurchman, C.W. Ackoff, R.L. & Asnoff, E.L. : Introduction to Operation ResearchMiller, R.W. : Schedule , Cost and Profit With PertLoomba, N. Paul : Linear ProgrammingGupta , P.K. & Hira, D.S. : Operations Research : an Introduction (Published by Sultan Chand& Company Ltd. New Delhi )8 P a g e

M.COM. FINAL 2016-17PAPER I (PAPER 206): ADVANCED AUDITINGObjective: To acquaint the students with the advanced knowledge of auditing principles andpractices.UNIT 1:Concept and philosophy of auditing and its importance in present businessscenario, internal control system - Review and Evaluation of Internal controlSystem, Efficacy of Accounting Information System flow charting. Reporting toclients on Internal Control weaknesses. Planning and audit Development of AuditProgra mme and audit techniques (SA-265).UNIT 2:Company Audit : Auditor's appointment, functions and duties, Planning theCompany Audit with special reference to Managerial Remuneration, Loans toCompanies under same management, Intercompany Investments, Bonus Shares,Contingencies and events occurring after Balance sheet date and prior- perioditems. Treatment for Excise duties, Ramification of accounting policy Changes(SA-200). Auditor's Report : Contents , Qualifications and Notes, Distinctionbetween Audit Report and Audit Certificate.UNIT 3:Audit of Special entities such as Banks, Insurance Companies and Hotels, Nonprofit Organizations like clubs, trusts, educational institutions, Co-operativeSocieties. Tax Audit andInvestigation: Concept and types.UNIT 4:Meaning of Cost Audit, Rationale and Dimensions, Types of Cost Audit, CostAuditor, qualifications, appointment, Rights, duties and responsibilities,Professional Ethics ; Interaction and Co-ordination between Public Accountantand Cost AuditorUNIT 5:Management Audit Concept and Scope , Evaluation of Organization CorporateSocial Audit : Concept, Dimensions and techniques, Corporate Social ReportingSUGGESTED READINGSGupta, Kamal : Contemporary Auditing , Tata McGraw Hill Publishing Co. Ltd. DelhiGhatalia, S.V. : Spicer and Pegler's Practical Auditing, Allied PublishersTandon, B.N. : A Hand Book of Practical Auditing, S. Chand & Co., DelhiSharma, T.R. : Higher Auditing, Sahitya Bhawan, AgraPublications of the Institute of Chartered Accountants of India Relating to Audit Practices9 P a g e

PAPER II (PAPER 207): COST ACCOUNTING FOR MANAGERIAL DECISIONSUNIT 1:Costing Techniques and Methods of Control: - Ma rginal costing. Break evenanalysis, Differential cost analysis, Break even charts. Stock valuation underMarginal Costing versus Absorption Costing Technique, Budget and Budgetarycontrol, Functional budgets including cash flow budgets, Fixed and Flexiblebudget, Budget period, Budgetary Control Reports and Budget RevisionsUNIT 2:Cost control for management decisions including production and productdecisions, pricing decision, marketing and distributions decisions, productdevelopment of competitive pricing, marketing strategies, pricing for lowest bidtenders, pricing for export sales versus domestic salesUNIT 3:Cost analysis studies for specific purpose such as make of buy; own or lease,repair or replace, now or latter, sale of scrap, controllable and non-controllablecosts. Sunk costs, Opportunity costs and Joint costs, Optimization of product mixUNIT 4:Standard costing: general principle, standard costing and Budgetary Control,advantages, limitations, setting of standard costs, variance analysis – cost profitand sales, presentation of variances, investigation, revision of standards.Accounting of standard costs – partial plan, single plan and dual plan, treatmentof cost variances in accountsUNIT 5:Uniform costing and inter firm comparisons, Reporting requisites of reports,interpretation and uses by management; Product life cycle costing, Activitybased cost managementSUGGESTED READINGSPrasad, N.K.: Principles and Practice of Cost AccountingHorng ren: Cost Accounting A Managerial EmphasisBhar, B.K.: Cost Accounting Method of ProblemsICWA of India: Break Even Concept and Practical DimensionsRoychoudhary & Bhattacharya: Cost and Management Accountancy Methods & TechniquesBatty, J.: Management AccountingKishore Ravi M.: Advanced Cost Accounting & Cost SystemGuru Prasad Murthy: Accounting for ManagementBacker and Jucobson: Dicisional Phenomena and the Management Accounta ntsH. Maynand: Top Management Hand BookAnthony, R.N.: Management Accounting: Text and CasesOswal, Srivastava and Bidawat: Advanced Costing Problems ShillinglowShillingdow G.: Cost Accounting Analysis and ControlMartz Curry and Frank: Cost AccountingNeumner: Cost Accounting10 P a g e

PAPER III (PAPER 208): ACCOUNTING THEORY & THOUGHTUNIT 1:Accounting: an overview- emerging roles and different views of looking ataccounting, Accounting environment and economic growth, Review ofAccounting Theory – brief history, concept, levels and types of accountingtheories. Approaches to the development of accounting theoryUNIT 2:Structure of Accounting theory, Accounting objective and net income reportingfor different purposes, Approaches to income concepts. Capital maintenanceconcept, Accounting policies and their regulating agenciesUNIT 3:Income statement versus balance sheet. The nature of revenue, expenses, gainsand losses. Historical cost versus current cost for income reporting, ma nagementof assets and liabilities; objectives and techniques of their classification andvaluationUNIT 4:Accounting policies and practices for inventories, plant and equipment,depreciation , liabilities. A study of accounting standa rds setting process in Indiaand abroad. Efficient market hypothesis and accounting policies. Theory ofaccounting policy choices.UNIT 5:Financial reporting, users of financial statements and their needs. Indiancorporate disclosures and their regulation, Type a nd forms of financial reportingand disclosure, current issues in reporting, Public interest reporting, humanassets reporting, segment disclosure and accounting difficulties, social reporting,Environmental reportingSUGGESTED READINGSEldon, S. Hendriksen : Accounting Theory , Richard D. Irwin Inc. IlinoisM.W.E. Glautier and B. Underdown : Accounting Theory and Practice , Pitaman PublicationsLtd., LondonPorwal , L.S.: Accounting Theory and Introduction , S. Chand & Co.Mukherji K and Ray , G.D. : Studies in Accounting Theory, the World Press Pvt. Ltd.Bhattacharya S.K. and Roy S.K.: Management Accounting (Incorporating Accounting Theory),S. Chand. & Co.Jawaharlal: Accounting Theory and Practice, Himalaya Publishing HouseJawaharlal: Corporate Financial Reporting – Theory, Practice and Cases, Taxmann.11 P a g e

PAPER IV (PAPER 209) : INDIRECT TAXUNIT 1:Central Excise: Nature and meaning of Central Excise, Basis of excise duty,records, registration for central excise, Central excise authorities and theirpowers and assessmentUNIT 2:Custom Duty: Introduction, Definition, Authorities and their Powers, Taxliabilities and valuation of goods, computation of custom dutyUNIT 3:Common Topics of Central Excise and Customs: Exemptions, Recoveries,Demands and Refunds, Appeals and Revision, Advance Ruling and Settlement ofCases, Offenc

PAPER III (PAPER 108): TAXATION LAW & PRACTICE UNIT 1: Income Tax Law, Scheme of Taxation, Important Concepts, Constitutional Provisions: Central and State Subjects; Distribution of tax proceeds among the States and Central - a brief study. Scope of Total Income and Residential Status,

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