Financial & Management Accounting Overview

Financial & Management Accounting, Costing, and Legal

• Ind AS 7, 8, 16, 19, 23, 24, 28, 37, 38, 40, 108, 110, 111, 115, 116 standards for financial statements preparation and presentation.
• Schedule-III of Companies Act and consolidated financial statement analysis.
• Cash flow statement preparation and presentation.
• Audit of company accounts by internal, statutory, and CAG auditors.
• Ratio analysis, budgeting, revenue and capital budgets, budgetary control, dividend decisions.
• Working capital concepts and estimation for joint ventures and subsidiaries.
• Concepts of costing (marginal, absorption, standard, contract, service).
• Costing provisions of companies act concerning accounts, audit, and corporate governance.
• Auditor appointments, director appointments, director qualifications, board meetings, and their powers.
• Roles and functions of regulatory bodies affecting finance and accounts.
• Regulatory compliance by companies under various acts.
• Joint ventures and subsidiaries accounting, CARO provisions, CSR provisions.

English

• Comprehension and basic grammar, synonyms and antonyms, error spotting.
• Analogies, fillers, tenses, adjectives, adverbs, vocabulary, sentence improvement.
• Active and passive voice.
• Abbreviations, banking and financial awareness, infrastructure sector.
• Urban transport.
• Capital and money markets, functions, instruments, and recent developments.

General Awareness

• Current affairs (economic and political), government schemes and policies.
• Indexes and who's who.

Number Quantitative Ability

• Simplification, number series, simple and compound interest, percentage, average.
• Profit and loss, ratio and proportion, volume, data sufficiency (odd man out), work and time, permutation and combination, probability.

Basic of Computers

• MS Office (including advanced Excel and PowerPoint), ERP, management information systems.
• Digital transactions, financial inclusion (use of technology, AI).
• Sequences and series, direction and distance, coding and decoding.
• Input/output, syllogism, analogies, similarities, differences, problem-solving, analysis, and judgment.
• Comparisons.

Reasoning

• Individual, corporate, and international taxations.
• TDS/TCS provisions, advance tax.
• Returns and assessments.
• ICDS customs provisions, GST provisions.

Taxation

• Companies bank accounts, foreign exchange transactions.
• Financial risk management, credit rating, bank reconciliation statements, letters of credit/bank guarantees.
• Treasury management in PSUs.
• Investment of surplus funds in PSUs
• Types of tenders in PSUs, MSME & GeM procurements.
• TReDS payments.
• GOI guidelines applicable on procurement of goods/services/works.
• GOI guidelines for approval of projects and investment.
• Project management, payment of engineering/works bills, billing/un-billing in engineering contracts.

Banking & Treasury

• Collection of amounts from customers, aging of trade payables/receivables, expected credit loss provisioning.

Procurement & Payment

• Payment of engineering/works bills, billing/un-billing in engineering contracts, collection of amounts from customers.
• Ageing of trade payables/receivables.