Welcome to cacscwainfo.blogspot.com
This blog provides all the information relating to CA(Chartered Accountant) ,CS (Company Secretary) , CWA (Cost Accountant) formerly Cost and Works Accountant
It provides information relating to this Professional courses like the registration process ,course duration ,examination ,results and exemptions ,syllabus and other information
Click here to get the details of CA(Chartered Accountants)
Click here to get details of CS (Company Secretary)
Click here to get details of CWA (Cost and Works Accountants)
[6 subjects arranged into
4 papers of 100 marks each.]
↓
[9 subjects arranged into two stages
of 3 papers of 100 marks each.]
+
Computer Tranining
100 Hour computer training.
+
Practical Experience/Training
3 year training (with a company or a Cost Accountant in practice,
registered with the institute). Exemption can be obtained
by those having relevant work experience as specified.
↓
[6 subjects arranged into two modules
of 3 papers of 100 marks each.]
+
Modular Tranining
↓
Grad. ICWAI
Temporary Status till membership is acquired.
(This is not a kind of membership)
↓
Associate Membership
↓
Post Qualification Courses
[Optional]
ICWA :: Final
Paper 17 : Cost Audit & Operational Audit and Ethics
[One Paper: 3 hours:100 marks]
Objective . . .
• | To gain an in-depth knowledge of the techniques and methods of planning and conducting Cost Audit |
• | To develop the skill in Internal Control, Internal Auditing and Operational Audit |
1. | Basics of cost audit, appointment of cost auditor | 10% |
|
• | Nature and scope of cost audit. |
• | Provisions under Companies Act relating to maintenance of Cost Records and Cost Audit. |
• | Cost auditor – appointment, rights and responsibilities |
• | Structuring the cost audit |
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2. | Cost Audit Report Rules | 10% |
|
• | Provisions of Cost Audit Report Rules 2001 |
• | Form of cost audit report |
• | Annexures to the cost audit report |
• | Pro-forma to the cost audit report. |
• | Usefulness of Cost Audit. |
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3. | Cost Accounting Record Rules | 20% |
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• | Procedure for prescription of cost accounting record rules |
• | Cost accounting record rules and its applicability |
• | Provisions of cost accounting record rules for various industries. |
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4. | Cost Accounting Standards | 10% |
Section II : Internal Audit and Operational Audit
1. | Basics of internal audit and operational audit | 10% |
|
• | Concept of internal and operational audit |
• | Internal Audit - techniques and procedures |
• | Internal Audit Report. |
• | Operational audit – techniques and procedures |
• | Operational audit report |
• | Special reports for banks, shareholders, employees etc |
• | evaluation of internal control system, budgetary control system, inventory control system, management information system. |
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2. | Management Audit in Different forms and functions | 10% |
|
• | Corporate Services Audit |
• | Audit checks of different functions |
• | Corporate Governance and Audit Committee |
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3. | Various types of audit and their process; | 10% |
|
• | Due Diligence audit |
• | SOX Audit |
• | Energy Audit – meaning & methodology |
• | Productivity audit |
• | Inventory audit |
• | VAT Audit. |
• | Special audit under excise , service tax and customs records by cost accountant |
• | Environment audit |
• | Qualities of good certificate/report |
• | Bank Audit and Concurrent Audit. |
• | Systems Audit. |
• | Audit under ERP environment. |
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4. | Fields for practicing cost accountants | 5% |
|
• | Statutory, |
• | Non Statutory. |
• | WTO regime. |
• | Assessment and quantification of losses under marine, fire & accident policies |
• | ANTI-DUMPING – meaning, process, role of cost accountants |
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5. | Professional Ethics | 10% |
|
• | Meaning of professional values and ethics, |
• | ICWAI & IFAC guidelines for professional values and ethics, |
• | Ethical codes applicable to professional Accountants in India, Ethical code for Cost Accountants under Cost and Works Accountants Act, 1959 and The Cost and Works Accountants Regulations, 1959, as amended up to date. |
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6. | Auditing and Assurance standards | 5% |
ICWA :: Final
Paper 18 : Business Valuation Management
[One paper: Three Hours – 100 marks]
Objective . . .
| • | To gain knowledge in different techniques of valuation of assets and liabilities |
| • | To understand the legal implications of merger and acquisitions |
| 1. | Valuation Basis | 10% |
|
| • | Principles and techniques of valuation |
| • | Asset valuation. |
| • | Earnings valuation |
| • | Cash flow valuation. |
| • | Other valuation basis |
| • | Efficient market hypothesis |
| • | Impact of changing capital structure on the market value of the company |
| • | Priorities of different stakeholders in terms of business valuation. |
| |
| 2. | Valuation of Mergers and Acquisitions | 20% |
|
| • | Assets and cash flows |
| • | The strengths and weaknesses of various valuation method |
| • | Recognition of the interest of various stakeholders |
| • | Selection of appropriate cost of capital for valuation |
| • | Synergistic benefits |
| • | Forms of consideration and terms of acquisitions |
| • | Post merger integration process |
| • | Implications of regulations for business combinations |
| • | Types of exit strategies and their implications. |
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| 3. | Valuation of Assets and Liabilities | 40% |
|
| • | Forms of intellectual property and methods of valuation |
| • | Valuation of fixed assets |
| • | Valuation of inventories |
| • | Valuation of investments |
| • | Valuation of shares |
| • | Dividend growth valuation models |
| • | MM theory |
| • | Valuation of options |
| • | Valuation of intangibles |
| • | Human resource accounting |
| • | Valuation of goodwill, patents and copyrights |
| • | Valuation of brands |
| • | Valuation of real estate |
| • | Relevant accounting standards. |
| |
| 4. | Case studies | 30% |
ICWA :: Final
Paper 16 : Advanced Financial Accounting & Reporting
[One Paper: 3 hours:100 marks]
Objective . . .
| • | To gain expert knowledge of the professional standards, principles and procedures developed globally |
| • | by and their application to different practical situations |
| • | To understand the scope and quality of external reporting and its use in published accounts |
| 1. | Introduction to IAS, US GAAP, Indian Accounting Standards | 15% |
|
| • | GAAP in India |
| • | US GAAP- Statements and Standards, hierarchy of US GAAP |
| • | International Accounting Standards |
| • | Relative view of AS (India), IAS and US GAAP on different issues |
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| 2. | Preparation of Company Accounts under various circumstances | 20% |
|
| • | Relevant Terms |
| • | Types of Mergers, methods of accounting |
| • | Treatment of Goodwill arising on Merger. |
| • | Purchase Consideration and Settlement. |
| • | Accounting in the books of vendor / transferor company. |
| • | Accounting for investment in subsidiary. |
| • | Accounting of holding companies |
| • | Consolidation of financial statements. |
| • | Corporate Financial restructuring |
| • | |
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| 3. | Group Financial Statements | 25% |
|
| • | Holding company, Subsidiary Company and Associate company |
| • | Consolidated Income Statement, Balance Sheet and Cash Flow Statements for Group of companies |
| • | Concept of fair value at the time of acquisition |
| • | Impact on group financial statements at the point of acquisition |
| • | Compare and contrast acquisition and equity methods of accounting |
| • | Reconstruction schemes , De-merger |
| • | Preparation and interpretation of segmental analysis, inter-firm comparisons |
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| 4. | Segment Reporting | 10% |
| 5. | Developments in External Reporting | 20% |
|
| • | Applicability of a particular accounting standard. |
| • | Interpretation of various accounting standards. |
| • | Scope of accounting standards. |
| • | Compliance with the Accounting Standards. |
| • | Annual Reports – Statutory Requirements and External reports |
| • | Preparation of Financial information in the Annual Reports |
| • | External Reporting under capital market regulations |
| • | Disclosure of post Balance Sheet events. |
| • | Financial Reporting across the world |
| • | Exposure to reporting under US and UK laws |
| • | IFRS requirements for reporting |
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| 6. | Government Accounting in India | 10% |
|
| • | General Principles. |
| • | Comparison with commercial accounting. |
| • | Role of the Comptroller and Auditor General of India. |
| • | Role of the Public Accounts Committee. |
| • | Review of accounts. |
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