SYLLABUS

M.COM - FINAL
 CONTENTS
M.Com (Final)

PAPER - I CORPORATE TAX PLANNING AND MANAGEMENT

PAPER - II ADVANCED FINANCIAL MANAGEMENT

PAPER - III BUSINESS STATISTICS

PAPER - IV OPERATIONAL AUDIT

PAPER - V INCOME TAX

 M.Com (Final)

Paper - I
Corporate Tax Planning and Management

Unit - I. Introduction to Tax management : Concept of tax planning, Tax avoidance and
tax evasions; Corporate taxation and dividend tax.
Tax planning for New Business : Tax planning with reference to location nature
and form of organisation of new business
Unit - II. Tax Planning and Financial Management Decisions : Tax planning relating to
capital structure decision, dividend policy, inter-corporate dividends and bonus
shares.
Unit - III. Tax planning and Managerial decisions : Tax planning in respect of own or lease,
sale of assets use for scientific research, make or buy decision, Repair replace,
renewal or renovation and shutdown or continue decisions.

Unit - IV Special Tax provisions : Tax provisions relating to free trade zones, infrastructure
sector and backward areas, Tax incentives for exporters.

Unit - V. Tax Issues Relating to Amalgamation : Tax Planning with reference to amalga-
mation of companies.
Tax Payment : Tax deductions and collection at source; Advance payment of tax.

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Paper - II
Advanced Financial Management
Unit - I. Financial Management : Meaning, nature and scope of finance, Financial goal, profit
vs Wealth maximisation, finance function, investment, financing and dividend
decisions.
Dividend Policies : Issues in dividend decision, Walter's model, Gordo's model,
M-M hypothesis, dividend and uncertainty, relevance of dividend, Dividend policy
in practice, Forms of dividends stability policy, Corporate dividend behaviour.
Capital Budgeting : Nature of investment decisions, Investment evalution criteria,
net present value, internal rate of return, profitability index, payback period,
accounting rate of return, NPV and IRR comparison, Capital rationing Risk analysis
in Capital budgeting.
Unit - II. Cost of Capital : Meaning and Significance of cost of Capital, Calculation of cost
of debt, perference capital, equity capital and retained earnings, Combined cost
of capital (weighted), Cost of equity and CAPM.
Unit - III. Operating and Financial Leverage : Measurement of leverages : Effects of operating
and financial leverage on profit, Analysing alternate financial plans, Combined
financial and operating leverage.
Unit - IV. capital Structure Theories : Traditional and M.M. hypotheses, without taxes and with
Determining capital structure in practice.

Unit - V. Management of Working Capital : Meaning, significance and types of working

capital, calculating operating cycle period and estimation of working capital
requirements, Financing services, Various committee reports on bank finance,
Dimension of working capital management.
Management of cash, receivables and inventory.
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Paper - III
Business Statistics
Unit - I. Univariate : An overview of central tendency, dispersion and skewness
Data Source : Primary and Secondary, Primary data collection techniques
schedule, questionnaire and interview
Unit - II. Probability theory :
Probability classical, relative, and subjective probability, Addition and
multiplication probability modes, Conditional probability and Baye's theorem.
Probability Distributions : Binomial, Poison, and normal distribution : Their char-
acteristics and applications
Statistical Decision Theory : Decision environment, expected profit under uncer-
tainty and assigning probabilities, Utility theory.
Unit - III Sampling and Data Collection : Sampling and sampling (Probability and non
probability) method, Sampling and non sampling errors, Law of large number and
Central limit theorem, sampling distributions and their characteristics,
Statistical estimation and testing : Point and interval estimation of Population mean
proportion and variance, statistical testing- hypotheses and errors sampling size,
large and small sampling tests, Z tests T tests and F tests.
Non parametric Tests : Chi square test, sign test, wilcoxon signed rank tests, wald,
wolfowitz tests, kruskal-wattis test
Unit - IV. Correlation and Regression Analysis : Two variables case.
Index Numbers : Meaning and types, Weighted aggregative indices, laspeyre's and
Paasch's indices compared, Indices of weighted average of (price-quantity)
relatives: Tests of adequacy, Special porblems, Shifting the base, splicing
overlapping index series, Uses and problems.
Unit - V. Statistical Quality Control : Causes of variations in quality characteristics, Quality
control chats purpose and logic, Construction a control chart, computing the control
limits (X and R charts) Process under control and out of control, Warning limits,
Control charts for attributes fraction deflective and number of defects, Acceptance
sampling.

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 Paper - IV
Operational Audit

Unit - I. 1. History of auditing, Major influences on auditing field of auditing, Basic

concepts of auditing evidence in auditing.
2. Investigations : Approach to investigation, types of investigation, investiga-
tion for detection of frauds, Misappropriation etc. Investigation for Tax
Purpose.
Unit - II. 1. Audit of Public Enterprised : Special features, Audit of Departmental under
taking, audit of statutory corporations Audit of government companies.
2. Government Audit : Features, Nature and objective of Government audit, Audit
of Expenditures, receipts, debts, deposits and remittances, Audit report
Public Accounts Committee. Commettee, on public undertakings.
Unit - III. 1. Company Audit feature, Appointment qualification remuneration of Auditor,
right and duties, special audit, audit of holding companies divisible profit and
dividend.
2. Audit of Banking Companies Insurance Companies special features of Bank
audit of Nationalised bank audit of Regional Rural Banks, Features of audit
of General insurance companies.
3. Audit of cooperative societies.
Unit - IV. 1. Cost Audit importance, Cost Accounting records, Provisions regarding, Cost
audit, Special features of cost audit, audit report.
2. Internal audit and Management audit nature and scope of internal audit,
Internal audit and stationary audit, Management audit its need. Review of
functional areas, Property audity
Unit - V. 1. Audit report and Audit certificates various forms of audit report, specimen of
audit report.
2. Professional ethics and Regulations, chartered Accountant Act 1949 Present
Trends in Auditing statement showing effects of Changing price and their audit
financial forecasts and their audit, Human resources accounting, reports on
financial sickness. Social audit audit Misc.
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Paper - V
Income Tax
Unit - I. Concept of income basis of charge (section 5 to 9) Residential status of various
assesses, Capital and revenue receipts, Income Which do not form part of total
income. Various deductions Permissible under different heads and deductions from
total income. Agricultural income and its treatment in income tax calculations.
Unit - II. Computation of Income under various heads. Aggregation of income and set off
and carry forward of losses. Relief and rebates, Depreciatiation and development
allowances. Assessment of individuals and computation of tax liability Clubbing
of Income. (Section 60 to 65)
Unit - III. Assessment of HUF, firms, Cooperative society and computation of tax liability
Assessment of non-residents. Double taxation relief. Audit under Income tax Act
 (44(a)(b))
Unit - IV. Corporate tax procedure and management of tax for different companies. Liability
in special cases. Income of charitable or religious trust and institution. Specific
provisions for computing profits and gains of specified business U/s 44 A to
44 D.
Unit - V. Filing of Return, search and seizure (U/s 158 B to 158 BH). Advance payment of
tax. Deduction and collection of tax at source. Appeal and revision. Penalties
prosecution and offences. Refund and recovery power of Government acquistion
and offences. Refund and recovery power of Government acquistion and purchase
of immovable property in certain cases. (Section 2 and 269S and 269 U to 269
UO)