SriMedha.Hyderabad

CA IPCC Auditing important questions for may 2015:

1. Qualifications and Disqualifications of an auditor as per COMPANIES ACT 2013.
2. Types of Audit Report/ Audit Opinion.
3. Duties relating to fraud in case of company auditor as per companies act 2013.
4. SA 200, 240.
5. SA 620
6. Vouching and verification – 16m (refer class notes)
7. Basic principles governing an audit.
8. SA 580
9. Appointment of first auditors.
10. Issue of bonus shares
11. Matters to be verified in the audit of dividend.
12. Provisions relating to Branch Audit.
13. Types of Reserves AND Objects of creating each.
14. Discuss about cost Audit.
15. SA 320
16. Design and Special Characteristics of EDP Systems.
17. CAAT requirement in EDP audit.
18. ‘Audit Trail in a computerized accounting environment’.
19. AS 1, 4, 5, 9
20. Controls in an EDP environment.
21. SA 700, 705
22. Audit of commercial accounts.
23. Audit of Stores and stocks.
24. Approaches to auditing in a computerized environment.
25. Letter of weakness.
26. Audit of Hotels
27. Audit of Charitable institutions.
28. Audit of Incomplete records.
29. Audit of Cinema Theater.
30. Methods to obtain Audit Evidence.
31. SA 230
32. Appointment of second & subsequent auditors
33. Revenue expenditure.
34. SA 570
35. Removal of auditor before expiry of his term of office.
36. Concept of “True and Fair”
37. Duties of C&AG.

CA IPCC IMPORTANT QUESTIONS IN STRATEGIC MANAGEMENT FOR MAY 2015:

CHAP-1
1.BENEFITS OF GLOBALISATION
2.PORTER FIVE FORCES COMPETITIVE MODEL (V.IMP)

CHAP- 2
1.STRATEGIC ALTERNATIVES
2.STRATEGIC DECISION MAKING
3.FRAMEWORK OF STRATEGIC MANAGEMENT

CHAP- 3
1.SITUATIONAL ANALYSIS
2.PORTFOLIO ANALYSIS
3. BCG MATRIX

CHAP- 4
1.LIQIDATION STRATEGY
2.DISINVESTMENT STRATEGY
3. CORPORATE STRATEGY , NATURE AND SCOPE

CHAP- 5
1. 4P’s OF MARKETING MIX
2. VARIOUS MARKETING TECHNIQUES
3. LOGISTIC STRATEGY & SCM .
4. STRATEGIC ROLE OF HR

CHAP-6
1.SBUs
2.VALUE CHAIN ANALYSIS
3. CORPORATE CULTURE

CHAP -7
1.TOTAL QUALITY MANAGEMENT
2.BUISNESS PROCESS RE-ENGINEERING
3. SIX SIGMA
4. BENCH MARKING

SHORT QUESTIONS FOR 2 - 4 MARKS
1.ENVIRONMENT SCANNING
2.MISSION ,VISION ,OBJECTIVES
3.KIERTESUS
4.PORTFOLIO ANALYSIS
5.STRATEGIC UNCERTAINITY
6.CONGLOMERETE AND CONCENTRIC DIVERSIFICATION
7.FORWARD AND BACKWARD INTEGRATION

CA IPCC Indirect Tax Important Questions:

Central Excise:

1. Direct tax Vs Indirect taxes
2. Taxable event, dutiability of waste & scrap, Short shelf life goods, Deemed manufacture
3. Trade parlance theory of classification/classification of parts, HSN, packing material
4. Central excise Captive Consumption or MRP Valuation
5. Specific Duty/Annual production capacity/Tariff value
6. Job worker, place of removal, SSI and Procedures relating to SSI

Customs Duty:

1. Types of Customs Duty
2. Baseline/Exclusive Economic Zone/ Continental Shelf/ Customs waters/ Territorial Waters
3. Taxable events in case of export and imports
4. State the some instances where customs duty not leviable
5. Exemptions under Customs Duty
6. Import and Export procedures
7. Bill of entry/ Import manifest/ Conveyance, Vehicle, Customs Station

CST:

1. Categories of Sale, Goods, Electricity, Deemed Sales, Works contract, Dealer
2. Types of Forms under CST, Sale outside the State, Sale in course of Import and export
3. Conditions to avail concessional rate of duty / Exemptions under CST
4. Turnover/ Sale price/ Goods of Special Importance (Declared Goods)

VAT:

1. Concept of VAT, Merits and Demerits of VAT
2. Goods, VAT Variants, Discuss Whitepaper, VAT Rates.
3. Input tax credit (ITC), input / capital goods, stock transfer, Exempted Vs Zero rated goods
4. Utilization and Carry forward credit, Refund, Exemptions from ITC
5. Composition scheme, VAT works contract, Revenue Neutral rate
6. Taxable event, Taxable turnover, VAT Hire purchase system
7. VAT Procedures and registration requirements under VAT

Service Tax:

1. Negative / Positive list or Selective / Comprehensive approach
2. Service, Consideration, Taxable territory, Gross amount charged
3. Point of taxation, Exemptions/abatements, Auxiliary educational services
4. Small service provider exemptions, Specified services, Input service distributor
5. Reverse charge, Sponsorship services, Service tax procedures,
CenVat:

1. Inputs, capital goods, input services/ Job work provisions
2. Conditions for availing cenvat credit, Cenvat returns
3. Carry forward and refunds under cenvat.

CA IPCC Important questions in Law, Ethics & Communication:

Ethics:

• Good Corporate Governance – features, various committees
• CSR and its Benefits
• Sustainable development, Green Accounting System
• Imp. of work place ethics
• Fundamental principles for accounting professionals (Independence, Integrity, Confidentiality etc.)
• Major threats for unethical behaviour (Financial, advocacy, familiarity, intimidation etc.)
• Reasons for unethical behaviour.

Communication:

• Notice and minutes for AGM/ EGM
• Power of Attorney, Gift Deed
• Rent Deed
• Grapevine Communication
• Interpersonal Communication
• Critical Thinking
• Negotiation, Bargaining and its process
• Consensus Building
• Elements influencing Organizational Culture
• Oraganisational - Wide Change, reasons of acceptance of change

The Companies Act:

• Procedure for incorporation of Co.
• Conversion of private into public limited company
• Subsidiary company holding shares in Holding Company (Section 19 of CA, 2013)
• Conclusiveness of the certificate of Incorporation
• Doctrine of Indoor Management and its exceptions
• Shelf, abridged prospectus & IM, Section 34, 35 of CA, 2013
• Section 39, 40, 69 of CA, 2013
• Share certificate Vs. Share Warrant
• Buy-back of shares
• Sweat equity shares, DVRs
• Buy back of shares
• Charges - Floating charge, satisfaction of charge, Pari passu clause in debentures, penalty for contravention
• Minor position as a member
• Small depositors and public deposits
• Chairman (Section 104), postal ballot, quorum (S.103), Meetings specially EGM (S. 100), Explanatory Statement (S. 102) of the CA, 2013
• MCA21, its objectives, benefits

The Negotiable Instruments Act, 1881:

• Inchoate Instrument
• Indian vs Foreign bills
• Conditional Endorsements
• Privileges of Holder in due course
• Dishonour of cheques i.e S. 138 to 142
• Noting and protesting

The Indian Contract Act, 1872

• Position of Minor Contracts
• Principles held in Hadley vs Baxendale
• Quasi contracts
• Bailment, Pledge, Guarantee and kinds of agency agreements

The Payment of Bonus Act, 1965:

• Disqualification for Bonus
• Recovery of bonus
• Time limit for Payment of Bonus

The Payment of Gratuity Act, 1972:

• Forfeiture of Gratuity
• Compulsory insurance
• Conditions/ eligibility for gratuity
• Continuous service

The EPF and MP Act, 1952:

• Non applicability of Act
• Protection against attachment
• CBOT & Executive Committee
• Employee deposit linked insurance

Costing & FM important questions for may 2015:

1) funds flow statement & cash flow statement –
2) ADR Vs. GDR –
3) Concentration banking & lock box system –
4) Miller – Orr cash management model –
5) Bridge finance and seed capital assistance
6) Discuss the concept of overtime premium & its accounting treatment
7) Identify the causes of labour turnover
8) Enumerate the objectives of cost accounting
9) Discuss essential features of a good cost accounting system
10) Methods of segregating Semi-variable costs into fixed and variable costs
11) Costs which are associated with labour turnover
12) Treatment of under-absorbed overheads in cost accounting
13) List down the advantages of cost plus contract
14) Discuss the accounting treatment of by-product
15) Discuss cost-volume-profit analysis
16) Discuss General ledger adjustment account
17) Costing accounting treatment of under absorption and over absorption of overhead
18) Discuss the role of CFO.
19) List down the functions of the treasury department:
20) Enumerate the pre-requisites for integrated accounts
21) Identify the causes for differences between Income under cost and financial accounts
22) Discuss basic aspects of financial management
23) List down characteristics of source of funds
24) Different types of packing credit facilities
25) List down the features of commercial papers
26) Discuss the types of floats in the context of cash management
27) Discuss the procedure for factoring
28) Methods of computation of time value of money
29) List down the assumptions in capital structure theories
30) List down the assumptions under Modigliani and miller approach (MM)
31) Brief on concept of trading on Equity
32) Discuss Modified internal rate of return method
33) Define optimum capital structure and its benefits.
34) Need for debt service coverage ratio
35) Discuss Du Pont chart for calculating return on equity
36) List down methods of Venture Capital Financing
37) Briefly discuss lease financing
38) Discuss on ploughing back of profit

Costing & FM important questions for may 2015:

1) Bin Cards & Stores Ledger –
2) cost reduction and cost control –
3) cost centre vs. cost unit –
4) Scrap & wastage –
5) Spoilage & defective –
6) Casual Worker and Outworker –
7) Allocation and apportionment –
8) BOM Vs.MRN –
9) VED, FSN –
10) Perpetual inventory & continuous stock taking –
11) Time Keeping and Time Booking –
12) Job Evaluation & Merit Rating –
13) Marginal costing and absorption costing –
14) Fixed and flexible budget –
15) Blanket overhead rates & departmental rates –
16) Job & contract costing –
17) Operation cost & operating cost –
18) Job costing & process costing –
19) Job Vs. batch costing –
20) Joint-product and by-product –
21) Profit maximization vs. wealth maximization –
22) Implicit vs. Explicit cost of capital –
23) Working capital cycle –
24) Open ended & close ended lease –
25) Business risk & financial risk –

Costing & FM important questions for may 2015:

1) Cost Driver –
2) Responsibility centre –
3) Differential cost –
4) Pre-production cost –
5) Opportunity cost –
6) Cost Object –
7) Out-of-pocket cost –
8) Conversion cost –
9) Retention money –
10) sunk costs –
11) Discretionary costs –
12) Escalation clause –
13) Idle time –
14) ABC analysis –
15) Key factor –
16) integrated accounting system –
17) split off point –
18) Angle of incidence –
19) External Commercial Borrowings (ECB) –
20) Debt securitization –
21) Zero Coupon Bonds –
22) Aging schedule
23) Product costs & period costs –
24) Controllable & uncontrollable –
25) Implicit costs& explicit costs –

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