CWA ICWA Foundation - Syllabus and Recommended Books

ICWAICWA ICWA (2008)Foundation • Syllabus and Recommended Books

Organisation and Management Fundamentals

ICWA :: Foundation
Paper 1 : Organization & Management Fundamentals
[One paper: Three Hours – 100 marks]

Objective . . .

To gain basic knowledge in Organizational Management
To understand the concept of business management at the macro level

Section I : Organization — 30%

1.Nature and Functional Areas of Organization10%
Organizational structures.
Functional areas of business and their operations
Activities of different functions
Formal & informal organizations: principles of organizations
Criteria for grouping
2.Schools of Organizational theory10%
Classical, behavioural and systems
Current trend and approaches
Behaviour in organizations
Role of behavioural science
3.Organizational Management10%
Objectives ( missions, goals and targets)
Conflicts between objectives
Appropriate strategy formulation
Determinants of culture
Different models available for categorizing cultures
Different models of organizational model management available to achieve goal congruence.

Section II : Management — 70%

4.Human resource management20%
Human resource plan
Human issues relating to recruitment, dismissal, retirement and redundancy
Activities of different functions
Models of Human Behaviour and Motivation and its applications (Taylor, McGregor, Maslow, Hertzberg etc).
Training & development.
Development and design of reward system
5.Management of Relationship20%
Process of Management covering planning, organizing, staffing, directing, motivating, communicating and control
Concept of power, authority, responsibility and delegation
Characteristics of leaders and managers
Management Style theories
Contingency approach
6.Management of Change15%
Stages & Process of Management change
Structural change & Cultural change
Approaches to the management of organizational development
Importance of managing critical period of change
Ways of handling these periods of change
7.Pattern of Management15%
Broad policies and functions
Structural pattern of Board of Directors.
Concept of public sector, social objectives, public sector management
Current management thoughts

Recommended Books

Management & OrganizationC. B. GuptaSultan Chand
Management & OrganizationLouis A. AllenMcGraw Hill
ManagementKoontz & O'DonnelTata McGraw Hill
Essentials of ManagementMassiePrentice Hall
Fundamentals of ManagementIRWINDonelly Gibson & Ivanicevich
ManagementStoner and FreemanPrentice Hall
ManagementS. R. RobbinsPrentice Hall
Management: A Global PerspectiveKoontz & WeirichMcGraw Hill
Organizational BehaviourF. Luthans McGraw Hill
Organizational Behaviour and ManagementIvanicevich & MattesonMcGraw Hill
Management Principles & PracticeM.S.MuruganNew Age International


ICWA :: Foundation
Paper 2 : Accounting
[One paper: Three Hours – 100 marks]

Objective . . .

To understand fundamental accounting principles
To understand basic concept of cost accounting

1.Basics of Bookkeeping and accounting10%
Definitions and its usefulness
Financial Accounting principles, concept and convention – measurement of business income
Position statement
Accounting Standards – national and international ( basic knowledge)
2.Systems of Bookkeeping10%
Double entry system, books of prime entry, subsidiary books
Recording of cash and Bank transactions
Preparation of ledger accounts
Preparation of trial balance — interpretation and usefulness
3.Bank Reconciliation statements5%
Need for reconciliation between cashbook and bank pass book and problems relating to the preparation of bank reconciliation statements.
4.Accounting System25%
Concept of capital, revenue, deferred revenue expenditures, opening entries, closing entries, adjustment entries and rectification entries.
Accounting treatment for bad debts, reserve for bad debts and other adjusting entries.
Depreciation- significance, accounting and various methods of calculation of depreciation.
Concept of single entry system, conversion of single entry system into double entry system of accounting.
Preparation of receipts and payments accounts, income and expenditure accounts.
Significance of reserves and provisions.
Bill of Exchange, consignment and joint venture
5.Elements of Cost Accounting15%
Basics of cost and management accounting:
Evolution of cost accounting and management accounting, cost concepts and cost object,
Cost classification, cost organization and its relationship with other departments.
Elements of cost and cost determination.
Material cost-purchase procedure, store keeping and stock control, pricing issue of material and accounting thereof, perpetual inventory and physical stock taking, identification of slow, non-moving and fast moving items, ABC analysis, JIT system, level of inventories and economic order quantity, analysis, investigation and corrective steps for treatment of stock discrepancies – control through other means.
Labour costs – remuneration methods, monetary and non-monetary incentive schemes, payroll procedures, labour analysis and idle time, measurement of labour efficiency and productivity, analysis of non productive time and its cost, labour turnover and remedial measures, treatment of idle time and overtime.
Direct expenses – nature, collection, classification and treatment of direct expenses.
Overheads – nature, collection and classification.
Production overheads – collection, apportionment, absorption, use of predetermined recovery rates, treatment of under and over absorption, fixed, variable and semi variable overhead, report for control of overhead cost.
Administration, selling and distribution overheads – analysis, accounting and control, treatment of miscellaneous items in cost accounting.
6.Cost Sheets15%
Cost data collection
Cost Sheet formats
Preparation of cost sheets.
7.Behaviour of Costs20%
Fixed & Variable costs
Direct & Indirect costs
Cost Behaviour for decision making
Marginal Costing and Break Even Analysis

Recommended Books

An Introduction to AccountancyS. N. MaheswariVikash
Modern AccountancyMukherjee & Haniff Tata McGraw Hill
Financial AccountingJawahar LalS.Chand
Accounting in BusinessR.J. BullELBS
Accounting: The Basis for Business DecisionsMeigs and Meigs McGraw Hill
Financial AccountingPorter and NortonHarcourt College Publishers
Basics of Cost AccountingV K Saxena & C D VashistSultan Chand

Economics and Business Fundamentals

ICWA :: Foundation
Paper 3 : Economics and Business Fundamentals
[One paper: Three Hours – 100 marks]

Objective . . .

To gain basic knowledge of economics
To understand different structures of organization
To know how stock exchange functions

A. ECONOMICS (60 marks) :

1.Basic Concepts of economics10%
The Fundamentals of Economics & Economic Organizations
Utility, Wealth,
Basic Elements of Supply and Demand, elasticity
Theory of Production
Cost of production.
2.Forms of Market5%
Perfect competition and Imperfect competition
Pricing in perfect and imperfect competition
3.National Income5%
Gross National Product
Net National Product
Measurement of National Income
Economic growth and fluctuations
Consumptions, savings and investments
4.Theory of Employment5%
Type of unemployment
Concepts of full employment
Labour and Population theories
Definition of capital and growth of capital
Steps in capital formation
Definition and functions of money
Quantity theory of money
Inflation and effect of inflation on production and distribution of wealth
Control of inflation
Money supply
Liquidity preference and marginal efficiency
Rate of interest and investment
Functions and utility of Banking
Principle of commercial banking
Essentials of sound banking system
Multiple credit creation
Functions of Central Bank
Weapons of credit control and money market
National & International Financial Institutions
7.International Trade5%
Basic feature of export and import
Competitive advantage of trade
8.Public Finance10%
Direct and indirect taxes
Principle of taxation
Effect of taxation on production and distribution
Deficit financing system

B. Business Fundamentals (40 marks) :

9.Type of Business Unit10%
Sole proprietorship, Partnership, Companies, Cooperatives
Hindu Undivided Family
Joint Stock Companies
Public Utilities services
State Enterprises
Limited Liability Partnership
10.Company Organization and Management10%
Types of companies and their formation
Incorporation and commencement of business
Memorandum of Association, Articles of Association and Prospectus
Shares and debentures
Board of Directors and General Meeting
11.Business Objectives5%
Concept and rationale of social responsibility
Business and its environment, interface with legal, political, economic, social and cultural aspects
12.Stock Exchange and its workings10%
Dealers and brokers transactions
Economic significance, condition of membership
Role of stock exchanges , Depository participant
13.Business Communication and Report Writing5%

Recommended Books

Fundamentals of Business EconomicsC.B.GuptaSultan Chand
EconomicsJ. K. MitraWorld Press
EconomicsP. A. Samuelson McGraw Hill International
Modern Economic TheoryK. K. DewettS.Chand & Co.
Fundamentals of Business OrganizationSultan Chand Y. K. Bhusan
Modern Business Organisation and ManagementSherlekar and SherlekarHimalaya Publishing
Company LawEastern Book Co.Avtar Singh
SEBI Guidelines
Modern Economic TheoryS.MukherjeeNew Age International

Business Mathematics and Statistics Fundamentals

ICWA :: Foundation
Paper 4 : Business Mathematics and Statistics Fundamentals
[One paper: Three Hours – 100 marks]

Objective . . .

To understand basic concepts in mathematics and statistics which are applied in the management science.

Average, mixtures
Ratios and proportions
Computation of interest
Discounting of bills
Real and imaginary number, rational and irrational number
Set theory and simple application of Venn diagram
Truth table and its applications
Indices and surds
Variation, Logarithms
Permutations and Combinations
Compound interest
Linear simultaneous equations ( 3 variables only)
Quadratic equations
Solution of linear inequalities ( by geometric method only)
Area and perimeter of triangles, circles, parallelogram, regular polygon
Volume and surface of cube, prism, cylinder, pyramid, cone, and spheres ( including zone and segments)
4.Co–ordinate Geometry10%
Plain co–ordinate Geometry ( Rectangular Cartesian co–ordinates only)
Length of line segments, Section ratio
Gradient of a line, equation of straight line, Circles, parabola, ellipse and hyperbola ( standard forms only)
Constant &Variables, Functions, Limit & Continuity
Differentiability & Differentiation, Derivatives and their use, Successive & partial differentiation
Maxima & Minima, Maxima & Minima under constraint using Lagrange transform
Indefinite Integrals: as primitives, integration by substitution, integration by part
Definite Integrals: Evaluation of standard integrals, as area under curve
Applications of Calculus
6.Statistical Methods35%
Data tabulation and presentation, frequency distribution
Measures of Central Tendency ( Mean, Median, mode)
Measurement of Dispersion ( range, mean deviation, standard deviation, variance)
Measures of Skewness & kurtosis

Recommended Books

Basic Mathematics & StatisticsB. M. AgarwalSultan Chand
Basic Mathematics & StatisticsN. K. NagKalyani Publishers
Statistical MethodsN. G. Das M.Das & Co.
Basic StatisticsGoon & GuptaWorld Press
Business Mathematics & StatisticsG. Srinivasa & D. George New Age International