Integrated Professional Competence Course IPCC

Group I (Two hours- 100 Marks)

PAPER I: Accounting
( Maximum Marks 100)
It cover General knowledge of the framing of the accounting standards, national and international accounting authorities, adoption of international financial reporting standards, Accounting Standards-1,2,3,6,7,9,10,13 and 14, company accounts, Self-balancing ledgers, Financial Statements of Not-for-profit-organization, Accounts from incomplete records, Accounting for special transactions, issue in partnership accounts and accounting in computerized environment

PAPER II: Law,Ethics and Communication
(Maximum Marks 100)
This paper has been divided in three parts:

1. Law (60 Marks)-

covers the practical application of business law including Indian Contract act, Negotiable instrument act, Payment of bonus act etc and provisions of company law covering The Companies Act from section 1 to 197
2. Ethics (20 Marks)

provides understanding of ethical issues in business including environmental issues, ethics in workplace, Marketing & Consumer protection and Accounting & Finance.
3. Communication (20 Marks)

covers development of behavioral skills and communication relating to business covering elements like Communication, Communication in Business environment and basic understanding of legal deeds and documents.

PAPER III: Cost Accounting and Financial Management
(Maximum Marks 100)
This paper has been divided in two parts:

1. Cost accounting (50 Marks):

covers the concepts and processes to determine the product cost like material, labors, overheads, process costing, contract costing etc and includes marginal costing and standard costing for decision making
2. Financial Management (50 Marks):

cover the topics relating to capital investment and financing decisions like capital budgeting, cost of capital, capital structure decisions and working capital management.

PAPER IV: Taxation
(Maximum Marks 100)
This paper has been divided in two parts:

1. Income tax (75 Marks):

covers the income under five heads namely salaries, house property, capital gains, profit and gain from business and profession and other sources

2. Service Tax and VAT (25 Marks):

cover the provisions of service tax like payment of service tax and filling of returns and concepts of Value Added Tax.

Group II
PAPER V:Advanced Accounting
(Maximum Marks 100)
It cover Conceptual framework for preparation & presentation of financial statements, Application of accounting standards 4,5,11,12,16,19,20,26 and 29, Cases relating to company accounts, advanced issues in partnership accounts and accounting for special transactions.
PAPER VI:Auditing and Assurance
(Maximum Marks 100)
It cover Generally Accepted Auditing Procedures, techniques and skills like verification and vouching of assets & liabilities, company audit, auditing standards needed to understand the objective and concepts of auditing and to apply them in audit and attestation processes

PAPER VII: Information Technology and Strategic Management
(Maximum Marks 100)
This paper has been divided in two parts:

1. Information technology (50 Marks):

covers an introduction to computers, Data base management systems, computer networks and network security, internet & other technologies and decision tree flow charts

2. Strategic Management (50 Marks):

covers business environment and strategies of business like Strategic Analyses, Strategic Planning, Implementation & control etc.