For IAS exam can I choose Commerce Subjects

Can I choose Commerce subject for preparation of IAS exam, & also give IAS Commerce syllabus???

[Arun Vats]

Yes Commerce Students are eligible to become IAS exam.

Of course you can choose commerce as your IAS subject.

Commerce will help you both in your preliminary as well as in main examination.

Here is IAS Commerce Syllabus:

Commerce Syllabus for Preliminary Examination

Part-I

Accounting and Auditing ;

Accounting Nature, Scope and Objectives of Accounting-Accounting as an Information System-Users of Accounting Information.

Generally Accepted Principles of Accounting-The Accounting Equation-Accrual Concept-Other concepts and conventions, Distinction between capital and revenue expenditure. Accounting Standards and their application-Accounting standards relating to fixed assets, depreciation, inventory, recognition of revenue.

Final Accounts of Sole Proprietors, Partnership Firms and Limited Companies-Statutory Provisions -Reserves, Provisions and Funds.

Final Accounts of nonprofit organisation. Accounting problems related to admission and retirement of a partner and dissolution of a firm.

Accounting for Shares and Debentures- Accounting Treatment of Convertible Debentures.

Analysis and Interpretation of Financial Statements Ratio analysis and interpretation. Ratios relation to short term liquidity, long term solvency and profitability-Importance of the rate of return on investment (ROI) in evaluating the overall performance of a business entity-Cash-flow Statement and Statement of Source and Application of Funds-Societal obligations of Accounting.

Auditing

- Nature, objectives and basic principles of auditing.

- Techniques of Auditing-physical verification, examination of documents and vouching, direct confirmation, analytical review.

- Planning an audit, audit programmes, working papers, audit process.

- Evaluation of internal controls.

- Test checking and sampling.

- Broad outlines of company audit.

- Audit of non-corporate enterprises.

- Internal and management audit.

Part-II

Business Organisation

Distinctive features of different forms of business organisation.

Sole Proprietor

Partnerships-characteristics, Registration, Partnership deed, Rights and duties, Retirement, Dissolution.

Joint Stock Company-Concept, characteristics, types.

Cooperative and State ownership forms of organizations.

Types of securities and methods of their issue.

Economic functions of the capital market, stock exchanges, Mutual Funds. Control and regulation of capital market.

Business combinations; control of Monopolies. Problems of modernisation of industrial enterprises. Social Responsibility of business.

Foreign Trade-Procedure and financing of import and export trade. Incentives for export promotion. Financing of foreign trade.

Insurance-Principles and practice of Life, Fire, Marine and General Insurance.

Management

Management functions-Planning-strategies, Organising-levels of authority Staffing, Line function and staff function, Leadership, Communication, Motivation, Directing-Principles, Strategies.

Coordination-Concept, types, methods.

Control-principles, performance standards, corrective action. Salary and wage administration-Job evaluation.

Organisation Structure-Centralization and decentralization-Delegation of authority-span of control-Management by Objectives and Management by Exception.

Management of change; Crisis Management.

Office Management-scope and principles; systems and routines; handling of records- modern aids to Office management; office equipment and machines; Automation and Personal computers.

Impact of Organisation and Methods (O & M)

Company Law

Joint stock companies-incorporation; documents and formalities-Doctrine of indoor management and constructive notice.

Duties and powers of the board of directors of a company.

Accounts and Audit of Companies.

Company Secretary-role and functions-qualifications for appointment.

Mains Commerce Syllabus:

Part-I
1. Advanced Micro Economics:
Marshallian and Walrasiam Approaches to Price determination.
Alternative Distribution Theories:Ricardo, Kaldor, Kaleeki
Markets Structure : Monopolistic
Competition, Duopoly, Oligopoly.
Modern Welfare Criteria: Pareto Hicks & Scitovsky, Arrow’s Impossibility Theorem, A.K. Sen’s Social
2. Advanced Macro Economics:

Approaches to Employment Income and Interest Rate determination: Classical, Keynes (IS-LM) curve, Neo classical synthesis and New classical, Theories of Interest Rate determination and Interest Rate Structure

3. Money - Banking and Finance:
Demand for and Supply of Money: Money Multiplier Quantity Theory of Money (Fisher, Pique and Friedman) and Keyne’s Theory on Demand for Money, Goals and Instruments of Monetary Management in Closed and Open Economies. Relation between the Central Bank and the Treasury. Proposal for ceiling on growth rate of money.
Public Finance and its Role in Market Economy: In stabilization of supply, allocation of resources and in distribution and development. Sources of Govt. revenue, forms of Taxes and Subsidies, their incidence and effects. Limits to taxation, loans, crowding-out effects and limits to borrowings. Public Expenditure and its effects.
4. International Economics:
(a) Old and New Theories of International Trade
Comparative Advantage
Terms of Trade and Offer Curve.
Product Cycle and Strategic Trade Theories.
Trade as an engine of growth and theories of under development in an open economy.
(b) Forms of Protection: Tariff and quota.

(c) Balance of Payments Adjustments:
Alternative Approaches.
Price versus income, income adjustments under fixed exchange rates,
Theories of Policy Mix
Exchange rate adjustments under capital mobility
Floating Rates and their Implications for Developing Countries: Currency Boards.
Trade Policy and Developing Countries.
BOP, adjustments and Policy Coordination in open economy macro-model.
Speculative attacks
Trade Blocks and Monetary Unions.
WTO: TRIMS, TRIPS, Domestic Measures, Different Rounds of WTO talks.
5. Growth and Development:
Theories of growth: Harrod’s model,
Lewis model of development with surplus labour
Balanced and Unbalanced growth,
Human Capital and Economic Growth.
Research and Development and Economic Growth
Process of Economic Development of Less developed countries: Myrdal and Kuzments on economic development and structural change: Role of Agriculture in Economic Development of less developed countries.
Economic development and International Trade and Investment, Role of Multinationals.
Planning and Economic Development: changing role of Markets and Planning, Private- Public Partnership.
Welfare indicators and measures of growth – Human Development Indices. The basic needs approach.
Development and Environmental Sustainability – Renewable and Non Renewable Resources, Environmental Degradation, Intergenerational equity development.
PART II
1. Indian Economy in Pre-Independence Era:
Land System and its changes, Commercialization of agriculture, Drain theory, Laissez faire theory and critique. Manufacture and Transport: Jute, Cotton, Railways, Money and Credit.

2. Indian Economy after Independence:
A. The Pre Liberalization Era:
Contribution of Vakil, Gadgil and V.K.R.V. Rao.
Agriculture: Land Reforms and land tenure system, Green Revolution and capital formation in agriculture,
Industry Trends in composition and growth, Role of public and private sector, Small scale and cottage industries.
National and Per capita income: patterns, trends, aggregate and Sectoral composition and changes their in.
Broad factors determining National Income and distribution,Measures of poverty, Trends in poverty and inequality.
B. The Post Liberalization Era:
New Economic Reform and Agriculture: Agriculture and WTO, Food processing, Subsidies, Agricultural prices and public distribution system, Impact of public expenditure on agricultural growth.
New Economic Policy and Industry: Strategy of industrialization, Privatization, Disinvestments,Role of foreign direct investment and multinationals.
New Economic Policy and Trade: Intellectual property rights: Implications of TRIPS, TRIMS, GATS and new EXIM policy.
New Exchange Rate Regime:Partial and full convertibility, Capital account convertibility.
New Economic Policy and Public Finance: Fiscal Responsibility Act, Twelfth Finance Commission and Fiscal Federalism and Fiscal Consolidation.
New Economic Policy and Monetary system. Role of RBI under the new regime.
Planning: From central Planning to indicative planning, Relation between planning and markets for growth and decentralized planning: 73rd and 74th Constitutional amendments.
New Economic Policy and Employment: Employment and poverty, Rural wages, Employment Generation, Poverty alleviation schemes, New Rural, Employment Guarantee Scheme