12_FINANCIAL & COST ACCOUNTANCY_PG_STD

1
TAMIL NADU PUBLIC SERVICE COMMISSION
SYLLABUS
FINANCIAL AND COST ACCOUNTANCY
(Final)
Code: 434
UNIT – I: ACCOUNTING
 Accounting Standards – GAAP - AS - applicability, interpretation, scope

and compliance-IFRS- Ind AS 2, 10, 115, 16, 21, 20, 23, 37 & 38.
 Company Accounts - Presentation of Financial Statements as per
Schedule III of Companies Act 2013 - Statement of Profit or Loss, Balance
Sheet, Change in Equity, Cash flow statement
 Accounting of Banking, Electricity and Insurance Companies
 Accounting for Cooperative Societies
 Branch and Departmental Accounts (including foreign branches)
 Accounting for non-profit organisations and incomplete records
 Computerised Accounting System (ERP features and advantages)
UNIT – II: AUDITING
 Nature and scope and significance of auditing

 Audit Engagement, Audit Programme, Audit working papers , Audit note
book audit evidence and audit report
 Internal check, internal control and internal audit- industry specific
 Reporting requirements of under companies act - report vs certificate,
contents of the report and qualifications in the report.
 Cost audit and Secretarial audit
 Auditing of different types of undertaking - education, hospitals,
cooperative societies, trusts.
UNIT – III: FINANCIAL MANAGEMENT
 Meaning-objectives -scope of financial management

 Sources of Funds- Introduction of Financial Markets- Capital & Money
Markets
 Tools for Financial Analysis - Ratio, Funds flow analysis, Cash flow analysis
 Cost of Capital, Capital Structure and Leverages
 Working Capital Management- Financing - Cash, Inventory, Receivables
and Payables
 Capital Budgeting.
 Risk Management - risk measurement- risk analysis- Value at Risk(VAR)-
Capital Adequacy Norms & Income Recognition Norms (NPA) in NBFCs.
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UNIT – IV: TAXATION
 Direct Taxation- Residential Status- Heads of Income and Computation of

Total Income under various heads- assessment of income of different
persons - TDS/TCS/Advance Tax- Income Computation and Disclosure
standards (Basic Concepts only) - Taxation as applicable to Government
undertaking and Cooperative Societies. Due dates and compliances.
Effects of non compliance and penalty. Tax audit provisions under I.T.
Act
 Indirect Taxation- Canons of Taxation- Customs Law - Goods and
Services Tax (GST) - CGST-SGST-IGST- Cess- Registration - Supply-
Time of Supply- Value of Supply- Place of Supply- E-Invoicing, E-Way
Bill,Input tax credit- Reverse Charge Mechanism (RCM) - Payment of
Taxes, Penalties.
UNIT – V: COMMERCIAL LAW, INDUSTRIAL LAW & COMPANY LAW
 MSMED Act 2006.

 Laws and Regulations relating to Cyber Security and Data Protection.
 Factories Act
 Payment of Gratuity Act
 Employees Provident Fund Act 1952
 Employees State Insurance Act 1948
 Payment of Bonus Act 1965
 Minimum Wages Act 1948
 Companies Act 2013-Promotion - Formation and related procedures –
Types – Appointment and duties of Directors, Loans and Deposits, CSR,
Salient features of Insolvency and Bankruptcy Code.
UNIT – VI: MANAGEMENT ACCOUNTING
 Introduction to Management Accounting - Relationship between

Management accounting and cost accounting- Decision Making tools
 Analysis and Interpretation of Financial Statements
 Learning Curve - concepts and its application
UNIT – VII: Cost Management
 Life Cycle costing

 Target Costing
 Kaizen Costing
 Value analysis and Engineering
 Throughput Costing
 Business Process Re-engineering
 Back flush costing
 Activity Based Costing (ABC).
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UNIT – VIII: DECISION MAKING TECHNIQUES
 Marginal Costing - CVP analysis - Profit Volume Graph- Decision involving

alternative choices - Make or Buy; Evaluation of Orders; Multiple scarce:
Product sales
 Pricing Decisions - New Product pricing- use of costs in pricing -
sensitivity analysis - monopoly pricing- competitive pricing- Transfer
pricing - Costing of Service Sectors
 Variance Analysis and Reporting- Material, Labour, Overheads, Turnover
and Profit.
UNIT – IX: PERFORMANCE EVALUATION & IMPROVEMENT TOOLS
 Balanced Score Card

 Supply Chain Management
 Key Performance Indicators (KPI) like ROI, Economic Value Added (EVA).
 Bench Marking
 Six sigma, Statistical Quality Control
 Plan-Do-Check Action
 Management Information Systems (MIS)
 Total Productivity Management (TPM) and Total Quality Management
(TQM)
 SWOT analysis
 Profitability Analysis.
UNIT – X: BUSINESS VALUATION
 Meaning of Value, Valuation and Business Valuation

 Valuation Methods - Non Discounted cash flow method- Discounted Cash
Flow Method- Free Cashflow Method, Net Present Value Method (NPV)-
Profitability Index Method(PI) - Internal Rate of Return Method(IRR)
 Valuation of Inventory
 Valuation of Investments
 Valuation of Intangibles
 Valuation of Human Resources
 Valuation of Equity
Dated 20.10.2023

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1

TAMIL NADU PUBLIC SERVICE COMMISSION

FINANCIAL AND COST ACCOUNTANCY

 Accounting Standards – GAAP - AS - applicability, interpretation, scope

UNIT – II: AUDITING

 Nature and scope and significance of auditing

UNIT – III: FINANCIAL MANAGEMENT

 Meaning-objectives -scope of financial management

UNIT – IV: TAXATION

 Direct Taxation- Residential Status- Heads of Income and Computation of

UNIT – V: COMMERCIAL LAW, INDUSTRIAL LAW & COMPANY LAW

 MSMED Act 2006.

UNIT – VI: MANAGEMENT ACCOUNTING

 Introduction to Management Accounting - Relationship between

UNIT – VII: Cost Management

 Life Cycle costing

UNIT – VIII: DECISION MAKING TECHNIQUES

 Marginal Costing - CVP analysis - Profit Volume Graph- Decision involving

UNIT – IX: PERFORMANCE EVALUATION & IMPROVEMENT TOOLS

 Balanced Score Card

UNIT – X: BUSINESS VALUATION

 Meaning of Value, Valuation and Business Valuation

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