Important Topics for CA Intermediate Exams - Group 1

Section

Sl.No

Content

Weightage

I

1

Process of formulation of Accounting Standards including Ind ASs (IFRS converged standards) and IFRSs; convergence vs adoption; objective and concepts of carve outs.

20%-25%

2

Framework for Preparation and Presentation of Financial Statements (as per Accounting Standards)

3

Application of Accounting Standards:

AS 1: Disclosure of Accounting Policies

AS 2 : Valuation of Inventories

AS 3 : Cash Flow Statements

AS 10: Property, Plant and Equipment

AS 11: The Effects of Changes in Foreign Exchange Rates 12: Accounting for Government Grants

AS 13 : Accounting for Investments 16: Borrowing Costs

II

4

Accounting for Special Transactions:

Investment

Insurance claims for loss of stock and loss of profit

Hire - Purchase and Instalment Sale Transactions

III

5

Special Type of Accounting

Departmental Accounting

Accounting for branches including foreign branches

Accounts from Incomplete Records

IV

6

Company Accounts

30%-35%

Preparation of financial statements - Statement of Profit and Loss, Balance Sheet and Cash Flow Statement;

Managerial Remuneration;

Profit (Loss) prior to incorporation;

Accounting for bonus issue and right issue;

Redemption of preference shares;

Redemption of debentures.

Section

Sl.No

Content

Weightage

Part I-The Companies Act, 2013- Section 1 to 148

I

1

Preliminary

25%-40%

2

Incorporation of company and matters incidental thereto

3

Prospectus and Allotment of securities

4

Share capital and Debentures

II

5

Acceptance of Deposits by companies

25%-35%

6

Registration of Charges

7

Management and Administration

III

8

Declaration and payment of dividend

35%-40%

9

Accounts of companies

10

Audit and auditors

Part II - Other Laws (40 Marks)

I

1

The Indian Contract Act, 1872 (Specific contracts covered from section 123 onwards): Contract of Indemnity and Guarantee, Bailment, Pledge, Agency

30%-35%

II

2

The Negotiable Instruments Act, 1881: Meaning of Negotiable Instruments, Characteristics, Classification of Instruments, Different provisions relating to Negotiation, Negotiability, Assignability, Right and Obligation of parties, presentment of Instruments, Rules of Compensation

20%-35%

III

3

The General Clauses Act, 1897: Important Definitions, Extent and Applicability, General Rules of Construction, Powers and Functionaries, Provisions as to Orders, Rules, etc. made under Enactments, Miscellaneous

15%-25%

4

Interpretation of Statutes- Rule of Interpretation of statutes, Aids to interpretation, Rules of Interpretation/construction of Deeds and Documents

Section

Sl.No

Content

Weightage

I

1

Overview of Cost and Management Accounting

10%-15%

Introduction to Cost and Management Accounting

Elements of Cost and preparation of Cost Sheets

II

2

Ascertainment of Cost and Cost Accounting System

35%-40%

Material Cost

Employee Cost

Overheads

Concepts of Activity Based Costing (ABC)

Recording and Accounting of Costs

III

3

Methods of Costing

25%-30%

Single Output/ Unit Costing

Job Costing

Batch Costing

Contract Costing

Process/ Operation Costing

Costing of Service Sectors

IV

4

Cost Control and Analysis

20%-25%

Standard Costing

Marginal Costing

Budget and Budgetary Control

Section

Sl.No

Content

Weightage

Section A: Income Tax Law (60 marks)

I

1

Basic Concepts

65%-75%

2

Residential status and scope of total income

3

Heads of income and the provisions governing computation of income under different heads

4

Income of other persons included in assessee's total income

5

Aggregation of income; Set-off, or carry forward and set-off of losses

6

Deductions from gross total income

7

Computation of total income and tax liability of individuals

8

Advance tax, tax deduction at source and Introduction to Tax Collected At Source

9

Provisions for filing return of income and self-assessment

II

10

Incomes which do not form part of total income (other than charitable trusts and institutions, political parties and electoral trusts)

25%-35%

Section B: Indirect Tax (40 marks)

I

1

Levy and collection of CGST and IGST

50%-80%

2

Basic concepts of time and value of supply

3

Input tax credit

4

Computation of GST liability

II

5

Registration

25%-40%

6

Tax invoice; Credit and Debit Notes; Electronic way bill

7

Returns

8

Payment of tax

III

9

Concept of indirect taxes • Concept and features of indirect taxes; Principal indirect taxes

0%-5%

10

GST Laws: An introduction including Constitutional aspects