Syllabus of ICWAI Intermediate Course

Will you please provide the syllabus of ICWAI Intermediate Course?

[Kiran Chandar]

As you are looking for the syllabus of ICWAI Intermediate Course , here I am providing the same for you .

Intermediate Course(Part I) -Six months
Paper 5: Financial Accounting (One Paper: 3 hours:100 marks)
Paper 6: Laws, Ethics and Governance (One Paper: 3 hours:100 marks)
Paper 7: Direct Taxation (One Paper: 3 hours:100 marks)
Paper 8: Cost Accounting and Financial Management (One Paper: 3 hours:100 marks)
Intermediate Course(Part II) -Six months
Paper 9: Operation Management & Information System (One Paper: 3 hours:100 marks)
Paper 10: Cost and Management Accountancy(One Paper: 3 hours:100 marks)
Paper 11: Indirect Taxation(One Paper: 3 hours:100 marks)
Paper 12: Company Accounts and Audit(One Paper: 3 hours:100 marks)

To have working knowledge of accounting concepts, detailed procedures and documentation involved in financial accounting system
• To gain working knowledge of the principles and procedures of accounting and their application to different practical situations
1. Accounting Conventions and Practices 10%

• Concept
• Depreciation and various methods thereof
• Stock valuation
• Distinction between Capital and Revenue
2. Royalty and Hire Purchase 10%

• Royalty accounting
• Need for hire purchase and installment systems and parties involved.
• Accounting from the point of view various parties.
• Possession and repossession in case of default in payments.
3. Receipts & Payments/ Income & Expenditure Accounts 10%

• Receipts & Payments
• Income & Expenditure Account
4. Partnership Accounting 10%

• Past adjustments and guarantee
• Admission & Retirement
• Assignment of life policy
• Amalgamation and Sale of Business
• Dissolution, Insolvency
• Piecemeal Distribution
5. Branch and Departmental Accounts 10%

• Branch accounts- Debtors system, Stock & Debtors system, Foreign Branch.
• Treatment of shortages.
• Calculation of net profit of various departments and allocation of expenses on the basis of suitable base.
• Preparation of common balance sheet.
• Treatment of Unrealized profit.
6. Accounting Standards 10%

• Applicability of a particular accounting standard.
• Interpretation of various accounting standards.
• Scope of accounting standards.
• Compliance with the Accounting Standards.
7. Joint Stock Companies 20%

• Issues of shares at par, discount & premium, forfeiture, reissue of shares
• Bonus issue and right issue
• Buy back of shares
• Redemption of Preference of shares
• Profit prior to incorporation
• Issue and redemption of debentures
8. Preparation of Company Accounts

• Preparation of Final Accounts under Company Law
9. Accounting services in organizations 10%

• Construction companies ,Project Accounting
• Service sector such as Software, ITES, Telecommunication, Entertainment, Hospital, educational institutions
• Banking , Electricity and Insurance companies

For detailed information , here is the attachment

Can you provide me the syllabus of ICWAI or Institute of Cost and Works Accountants of India Intermediate Course?

[Arun Vats]

The syllabus of Institute of Cost Accountants of India (ICAI) which was formerly known as Institute of Cost and Works Accountants of India (ICWAI) or Intermediate Course is as follows:

Group II - Cost and Management Accounting
1. Basic aspects of Cost Accounting
• Cost Concepts and Classification of costs
• Materials: accounting and control systems procedures and techniques
• Labour: accounting, incentive schemes and control systems and procedures
• Direct Expenses
• Indirect expenses: allocation, apportionment, re-apportionment and absorption of overhead costs.
• Cost Accounting Standards.

2. Cost Accounting Methods and systems
• Job, batch, contract and process costing.
• Cost accounting for service sector
• Accounting entries for an integrated accounting system – cost ledgers
• Reconciliation between cost and Financial profit and loss account.
• Interlocking accounting

3. Decision Making Tools
• Marginal costing, break even analysis and its applications in decision making
• Absorption costing as a system of profit reporting and stock valuation.
• Throughput accounting as a system of profit reporting and stock valuation.
• Activity-based costing for profit reporting and stock valuation.
• Integration of standard costing with marginal cost accounting, absorption cost accounting and throughput accounting.
• Process costing including establishment of equivalent units in stock, work-in-progress and abnormal loss accounts and use of various methods like first-in-first-out, average cost and standard cost methods of stock valuation.

4. Budgeting
• Budget Concepts and Preparation
• Fixed and Flexible Budgets
• Time series analysis including moving totals and averages, treatment of seasonality, trend analysis using regression analysis and the application of these techniques in forecasting product and service volumes.
• Fixed, variable, semi-variable and activity-based categorizations of cost and their application in projecting financial results.
• Zero base budgeting

5. Standard Costing
• Manufacturing standards for material, labour, and overhead.
• Price/rate and usage/efficiency variances for materials, labour and overhead. Further subdivision of total usage/efficiency variances into mix and yield components.
• Fixed overhead variances.
• Planning and operational variances.
• Sales price and sales revenue/margin volume variances (calculation of the latter on a unit basis related to revenue, gross margin and contribution margin). Application of these variances to all sectors, including professional services and retail analysis.
• Interpretation of variances: interrelationship, significance.
• Benchmarking for setting standards

6. Costing and performance management
• Business performance measurement for performance improvement

7. Recent trends in cost and Management Accounting

Group II - Operation Management and Information Systems
A. Operation Management ( 50 Marks)1. Overview of Production Process 15%
• Fabrication process
• Metal working process – forming, heat treatment, welding, surface treatment etc.
• Machining process
• Class of machine – Lathes, drilling, grinding, milling, planing, shaping, slotting etc.
• Special purpose machine – special grinding, hobbing, honing, cutting tools, jigs and fixtures etc.
• Pump, motor, transformer, electrical drives,
• Classification of industries based on production process
• Technological aspects of different production process like power, pollution control, recovery process,
• Plant layout , material handling system etc

2. Production Planning & Productivity management 15%
• Time study, work study, method study, Job Evaluation.
• Production planning and control-Introduction.
• Forecasting
• Capacity planning and Utilization.
• Process planning,
• Project planning.
• Progressing and follow-up.
• Despatching.
• Scheduling Technique & Line Balancing Problem
• Economic batch production
• Human Resource Planning
• Material Requirement Planning
• Productivity measurement techniques of factors of production
• Quality Control

3. Maintenance Management 10%
• Obsolescence, replacement of machinery
• Breakdown maintenance, preventive maintenance & Routine Maintenance
• Maintenance Techniques
• Maintenance organization
• Maintenance problems etc

4. Resource Management 10%
• Input-output ratio
• Linear programming
• Transportation
• Replacement of machine
• Change of Technology and its implication


B. Information Systems ( 50 Marks)1. Information System Analysis and Design. 10%
• Information System-Systems development life cycle, Structured Systems Analysis and Design, Physical and Logical Data Flow Diagrams, Requirements Analysis, Design of New Systems. Data Modeling, data dictionary, entity relationship diagram, structure charts, Transform and Transaction Analysis, Applications in Financial & Cost Management

2. Database Management Systems 15%
• File & Data Base Concept, Overview of DBMS, Data Models, Database Administrator, Database Users, Schema. Data Independence, Relational Database Management System (RDBMS), some applications of RDBMS using Oracle & SQL Server

3. Management Information Systems (MIS) 15%
• Introduction, People & Organization, System & models, Decision process and evaluation thereof, transaction processing & management reporting, MIS in functional areas: Finance & Cost Management, Inventory, Marketing, HRM.

4. Enterprise Resource Planning (ERP) 10%
• Functional architecture of ERP, Material requirement planning & ERP, Business Process Reengineering & ERP, Supply chain management, Some applications involving SAP & Oracle (Financial), Change Management and ERP Implementations, Technology and International Considerations in implementation of ERP.

Group II - Applied Indirect Taxes

1. Canons of Taxation - Indirect Taxes 5%
• Features of Indirect Tax. Constitutional validity. Indirect Tax Laws, administration and relevant procedures

2. Central Excise 25%
• The Central Excise Law
• Goods, Excisable goods, Manufacture and manufacturer, Classification, Valuation, Related Person, Captive Consumption, CAS 4, CENVAT.
• Basic procedures, Export, SSI, Job Work.
• Assessment, Demands, Refund, Exemptions;
• Powers of Officers.
• Adjudication, Appeals, Settlement Commission, Penalties .
• Central Excise Audit and Special Audit under 14A and 14AA of Central Excise Act
• Impact of tax on GATT 94, WTO, Anti Dumping processing;
• Tariff Commission and other Tariff authorities.

3. Customs laws 15%
• Basic concepts of customs law;
• Territorial waters, high seas;
• Types of custom duties., Anti- Dumping Duty, Safeguard Duty;
• Valuation;
• Customs Procedures, Import and Export Procedures, Baggage.
• Exemptions.
• Warehousing, Demurrage;
• Project Imports and Re- Imports;
• Penalties and Offences.
• Export Promotion Schemes. EOU
• Duty Drawback.
• Special Economic Zones.

4. Service Tax 15%
• Introduction, Nature of Service Tax.
• Service Provider and Service Receiver.
• Registration procedure
• Records to be maintained
• Classification of taxable services
• Valuation of taxable services.
• Exemptions and Abatements.
• Payment of service tax, Return
• Cenvat Credit Rules
• Export and import of services.
• Other aspects of Service Tax.
• Taxable Services.
• Special Audit under 14A and 14AA of Central Excise Act

5. Central Sales Tax Act & VAT Act. 15%
• Introduction, definition of sale under CST;
• Stock transfer, branch transfer under CST;
• Inter state sale,
• Various forms for filing of sales tax returns under CST;
• Sales outside territorial waters under CST;
• Procedures.
• Practical examples on CST.
• VAT, Salient features of State VAT Acts
• Treatment of stock & branch transfer under State VAT Acts
• Filing & Return under State VAT Acts
• Accounting & Auditing VAT

6. Practical problems and Case Studies under Indirect Tax Laws