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PPSC Accountant Syllabus 2022 Grade I & II Exam Pattern

PPSC Accountant Syllabus 2022 Grade I & II Exam Pattern

PPSC Accountant Syllabus 2022 Punjab PSC has released the Divisional Accountant Detailed Syllabus pdf Candidates Can Check Punjab PSC Accountant Grade I & Grade II Exam Pattern & Selection Process of PPSC Accountant & Divisional Accountant Posts

PPSC Accountant Syllabus 2022

Advt. No. 202224 to 202228

Hello Aspirants, Punjab Public Service Commission has Started the Recruitment of 50 posts of Accountant Grade-I, Accountant Grade-II & Divisional Accountant. Here in this Article We will Discuss about the Detailed Syllabus of Punjab PSC. Candidates can check the Detailed Syllabus, Exam Pattern & Selection Process of PPSC Accountant & Divisional Accountant Posts. Here we are providing the detailed Syllabus & Other Exam Related Information. Check More Details from Below…..

Brief Information of PPSC Accountant Syllabus:

Department Name Punjab Public Service Commission
Name of Vacant Posts Accountant Grade-I, Accountant Grade-II & Divisional Accountant
No. of Vacancy 50 Posts
Dates of Application Submission 09/06/2022 to 30/06/2022 By 11:59:00 PM
Exam Date Announce Later
Selection Process Written Competitive Examination
Exam Pattern Announce Later
No. of Questions 120
No. of Marks 480
Time Duration Two (02) hours
Negative Marking 1 (one) mark
Minimum Passing Marks 40%
Syllabus Mention Below

Exam Pattern of Punjab PSC Accountant Gr-I, II & Divisional Accountant:

Exam Pattern will be as follows:

  • Exam Will be Objective Type.
  • The Examination is a Pen & Paper-based Test, to be answered on the specially designed machine gradable OMR sheet using Ball Point Pen.
  • The pattern for written competitive examination comprising of 120 questions.
  • Each question carries 4 marks and, for each correct answer candidate will get 4 marks i.e. The Exam Will Consist 480 Marks.
  • The test would be of two (02) hours duration.
  • The question paper will be in English language only.
  • For each incorrect answer, 1 mark will be deducted from the total score.
Topic No. of Questions Marks (Each Question carries 4 marks)
Questions from the Subject(Part A of Syllabus) 100 400
Questions from General Knowledge, Logical Reasoning and Mental ability (Part B of Syllabus) 20 80
Total 120 480

Syllabus of Punjab PSC Accountant Gr-I, II & Divisional Accountant:

Part A –
Subject Syllabus

Accountant Gr-I

Accounting

Nature and attributes of Financial Statements, Analysis and interpretation of Financial Statements; Techniques of Analysis: Comparative Statements, Common Size Statements, Trend Analysis, Ratio Analysis; Fund Flow Statement and Cash Flow Statement as per Ind AS3. Accounting Standards: Purpose, International harmonisation of financial reporting, Role of IASB, Convergence of Indian accounting standards with IFRS. Indian Accounting Standards (Ind AS).

Corporate Reporting Practices in India and its evaluation. Accounting for Price Level Changes: Nature and Techniques; Accounting for Human Resources: Need, Models for Valuation; Areas of Corporate Social Performance: Measurement and Public reporting of Corporate Social Performance.

Traditional Cost Management System: Concept, Factors Affecting Cost Management, Cost Assignment. Applications of Marginal Costing and Cost Volume Profit analysis for decision making.

Strategic Cost Management (SCM): Concept and Philosophy, Key elements in SCM, Strategic Positioning and Cost Driver Analysis.

Cost Management and Performance Evaluation: Evaluation criteria; Return on Cash Systems; Balanced Score card: Concept, process, implementation of Balanced Score card. Value chain analysis; Activity Based Costing; Target and Life-Cycle Costing; Kaizen Costing; Back Flush Costing.

Budgetary Control: Concept, types and Process. Introduction to Performance Budgeting and Zero Base Budgeting.

Uniform Costing and Inter-Firm Comparison, Responsibility Accounting. International transfer pricing: Meaning, objectives, methods and regulation; Approaches to accounting for foreign currency transactions, Methods of foreign currency translation.

Issues related to consolidation of financial statements of MNCs.

International taxation: Diversity of national tax systems, taxation of foreign source income and double taxation.

Financial Management

Financial Management: Meaning, Scope, and Objectives, Finance Functions: Investment, Financing and Dividend decisions; Capital Budgeting: Nature of Investment Decisions, Investment evaluation criteria: Payback period, Accounting rate of return, Net present value, Internal rate of return, Profitability Index, Capital Rationing, Capital Budgeting under Risk and Uncertainty.

Cost of Capital: Meaning and Significance, Cost of debt, preference capital, equity capital and retained earnings; Weighted average cost of capital.

Financial, operating and combined leverage: their measurement and effect on profit.

Capital Structure: Concept and significance,  Theories of Capital Structure, Dividend Policy: Forms of dividend, stability in dividend policy, Dividend theories, Dividends policy in practice.

Working Capital: Meaning, significance and types, Factors affecting working capital requirements, Determining working capital needs, Working capital management, Sources of working capital, Financing of working capital, Management of Cash, Receivables and Inventories; Mergers and Acquisitions: Reasons and Financial considerations.

International Finance: Concept and Goals; Role of International Finance Manager in an MNC; Globalisation of World Economy; Recent trends. Foreign Direct Investment (FDI) and Multinational Corporations.

Financial System

Financial System: Meaning, nature, structure and role. An overview of Indian Financial System.

Financial Institutions: Banking System in India; Development Banks; Role played by IFCI, SIDBI, SFCs SIDCs in development of Indian economy.

NBFCs: concept, role, and RBI guidelines.

RBI: Organisation, functions, credit creation, credit control, Recent Monetary Policy. NABARD: Role and functions; SEBI: Organisation, Functions.

Financial Markets: Meaning, nature, structure, significance of financial markets, Financial Markets in India

Money market: Meaning, constituents, and functions of money market; Money market instruments; Recent trends in Indian money market.

Capital market: Primary and secondary markets, role and recent developments in Indian Capital Markets. International Stock Exchanges.

Financial Services: Nature and types; Merchant Banking: Role, Services provided by merchant bankers, Structure of Merchant Banking in India, SEBI regulations, recent developments; Underwriting: concept, SEBI regulations.

Mutual Funds: Meaning, types, SEBI guidelines, Current developments; Credit Rating: Meaning, significance, types; SEBI regulations for credit rating, Credit Rating Agencies; Venture Capital: Characteristics, SEBI guidelines, venture capital funds in India; Plastic Money: Concept, various forms of plastic money. Growth and Present Scenario of Plastic Money in India.

Auditing

Auditing: Concept, Nature and limitations of Auditing, Basic Principles governing an audit, Relationship between Accounting and Auditing, Classification of Auditing: Different basis of classification, Internal and External Audit, Statutory and Non-Statutory Auditing, Continuous, Interim and periodic audit.

Auditor’s Independence, Threats to Auditor’s Independence, Regulatory Framework to ensure auditor’s Independence; Standards of Auditing- Overview, Standards on Auditing issued by ICAI.

Company Audit: Preliminaries before commencement of Company Audit, Statutory requirements under Company Act 2013, Concept of true and fair, materiality and audit risk with respect to audit of companies. Company Auditor: Qualification, Disqualification, Appointment, Removal, Remuneration, Audit ceiling: Status, Power, Duties and Liabilities of Auditor.

Auditor Report: Qualifications, Disclaimers, Adverse opinion, Disclosures in reports and certificates. Management Audit; Cost Audit; Different Audits: Environmental Audit, Audit of Banks and Insurance companies, Auditing in EDP Environment.

Business Laws

Law of Contract (1872): Nature of contract, Classification ; Offer and acceptance; Capacity of parties; Free consent; Consideration; legality of object; Agreements declared void; Performance of contract; Discharge of contract; Remedies for breach of contract. Special Contracts: Indemnity; Guarantee; Bailment and Pledge. Companies Act, 2013: Concept of Corporation and Legal Entity, Formation of a Company: Memorandum and Articles of Association and their alteration, Doctrine of Ultra Virus, Doctrine of Indoor Management, Prospectus, Shares and Share Capital, Transfer and Transmission of shares.

Borrowing Powers of the company: Fixed and Floating charge.

Management of companies, Directors; Meeting of directors and share holders; Winding up and dissolution.

Negotiable Instruments Act, 1881: Definition, types of negotiable instruments; Negotiation; Holder and holder in due course; Payment in due course; Endorsement and Crossing of Cheque: Presentation of negotiable instrument.

Competition Act 2002: Establishment, composition, duties, functions and powers of Competition Commission of India, Provisions relating to anti-competitive agreements.

Tax Laws

Introduction to Direct Tax Laws, Definitions, Basis of Charge-Determination of Residential Status under Income Tax Act 1961, Computation of Income under various Heads ( Salaries, House Property, Profits and Gains from Business and Profession , Capital Gains, Income from Other Sources).

Set Off and Carry Forward Losses, Income of other persons to be included in Total Income of the Assessee. Deduction out of Gross Total Income, Computation of Income in case of individuals, HUF, Partnership Firms, Companies.

Introduction to Tax Management: Concept of tax planning; Tax avoidance and tax evasion; Methods of tax planning.

Tax Planning for New Business: Tax planning with reference to location, nature and form of organization of new business.

Special Tax Provisions: Tax provisions relating to free trade zones, infrastructure sector and backward areas; Tax incentives for exporters.

Tax issues relating to Amalgamation and demerger of companies.

Tax Planning and Financial Management Decisions: Tax planning relating to capital structure decision, dividend policy, inter corporate dividends and bonus shares.

Tax Planning and Managerial Decisions : Tax planning in respect of own or lease, sale of assets used for scientific research, make or buy decisions; Repair, Replace, renewal or renovation and shutdown or continue decisions.

Double taxation avoidance agreements; Tax Planning and non-residents; Tax deductions and collection at source, Advance Payment of Tax.

Accountant Gr-II

Financial Accounting

Accounting: Meaning, Scope and Importance, Branches of Accounting, Accounting Concepts and Conventions, Double Entry System, Preparation of Journal, Subsidiary Books including Cash Book.

Ledger, Trial Balance, Preparation of Final Accounts of Sole Traders and Partnership Firm. Distinction between Capital and Revenue items, Depreciation Methods and Accounting including AS-6. Bank Reconciliation Statement.

Accounts relating to Partnership: Admission, Retirement and Death of a Partner, Dissolution of Partnership, Amalgamation of Firms, Sale of Firm to a Company, Gradual Realisation of Assets and Piece Meal Distribution.

Consignment Accounts: Accounting treatment including journal and ledger in the books of consignor and consignee.

Joint Venture: Methods of maintaining Joint Venture Accounts.

E-Accounting: Meaning, Features, Advantages and Disadvantages of Computerized Accounting, Financial Accounting Package – Tally. ERP 9.0: Introduction, Phases of implementation, Configuring Tally, Accounts Management with TALLY.ERP 9.0 Package: Accounts Masters including creating and altering vouchers, Accounts transactions and preparing Trial Balance and Final Accounts.

Corporate Accounting as per the Companies Act, 2013: Issue, forfeiture and re- issue of shares; Redemption of preference shares; Issue and redemption of debentures; Issue of bonus shares and right shares; Underwriting of shares and debentures; Accounts of underwriters.

Final Accounts of companies including computation of managerial remuneration and disposal of profit; Profit prior to and after incorporation; Consolidated Statements of holding companies with one subsidiary only.

Amalgamation, absorption, merger and reconstruction, Accounting for amalgamation of companies as per Indian Accounting Standard 14; Accounting for internal reconstruction; Liquidation Accounts.

Management Accounting

Management Accounting : Meaning, Definition, Nature, Objectives, Scope and Functions of Management Accounting, Management Accounting and Financial

Accounting, Management and Cost Accounting; Role of Management Accounting in decision making; Management Accounting Tools; Advantages and Limitations of Management Accounting.

Financial Statements: Concept, Nature, Objectives of Financial Statements, Types of Financial Statements; Limitations of Financial Statements; Analysis and Interpretation of Financial Statements: Techniques of Financial Statements Analysis; Comparative Statements, Common size statements, and Trend analysis. Ratio analysis : Meaning and significance of Ratio analysis, Classification and interpretation of Ratios- Liquidity ratios, Turnover ratios, , Solvency ratios and Profitability ratios; Advantages and Limitations of Accounting Ratios.

Fund Flow Analysis : Concept of Funds, Sources and Uses of Funds, Managerial uses of Funds Flow Analysis, Statement of Changes in working Capital, Funds Flow Statement.

Cash Flow Analysis : Indian Accounting Standard – 3, Cash Flow Statement.

Cost Accounting

Cost Accounting : Meaning , Objectives, Advantages and Limitations of Cost Accounting, Importance of Cost Accounting to Business Concern. Cost concepts and classification; Preparation of cost sheet.

Accounting for Material : Concept, objectives and techniques of Material Control, Accounting and Control of Purchase, Storage and Issue of Materials; Methods of pricing material issues; Treatment of Material Losses.

Accounting for Labour : Labour cost control procedure; Labour turnover; Idle time and overtime; Methods of wage payment; Time and piece rates; Essentials of a good wage plan, Incentive schemes: Taylor’s differential piece rate system, Halsey plan, Rowan Plan; Fringe benefits.

Accounting for Overheads: Meaning, Classification of Overheads: Element-wise, Functional and Behavioural; Allocation and Apportionment of overheads; Absorption of overheads; Determination of overhead rates; Under and over absorption and its treatment; Treatment of special items of overheads like interest, depreciation, packing expenses, carriage expenses, machinery erection, tools, R&D, advertisement etc.

CVP Analysis: Introduction, Assumptions and Uses; Break-Even Analysis: Break- Even Point, Margin of Safety and Maintaining a desired level of profit; Graphical presentation of CVP Relationship.

Marginal Costing and Management Decisions – Marginal Costing vis-à-vis Absorption Costing; Marginal as a tool for decision making; Marginal Costing Techniques; Marginal Cost and Product Pricing; Change of Product Mix; Make or Buy Decisions; Exploring new markets; Shut Down Decisions.

Budgeting for Profit Planning and Control: Meaning of Budget and Budgetary control; Objectives; Merits and Limitations; Types of Budgets; Preparation of Functional Budgets; Fixed and Flexible Budgeting; Control ratios; Zero Base Budgeting; Performance Budgeting; Responsibility Accounting.

Standard Costing and Variance Analysis: Meaning of Standard Cost and Standard Costing; Advantages and Application; Variance analysis: Material, Labour and Overhead Variances (two-way analysis).

Divisional Accountant

Accounting

Nature and attributes of Financial Statements, Analysis and interpretation of Financial Statements; Techniques of Analysis: Comparative Statements, Common Size Statements, Trend Analysis, Ratio Analysis; Fund Flow Statement and Cash Flow Statement as per Ind AS3. Accounting Standards: Purpose, International harmonization of financial reporting, Role of IASB, Convergence of Indian accounting standards with IFRS. Indian Accounting Standards (Ind AS). Corporate Reporting Practices in India and its evaluation. Accounting for Price Level Changes: Nature and Techniques; Accounting for Human Resources: Need, Models for Valuation; Areas of Corporate Social Performance: Measurement and Public reporting of Corporate Social Performance.

Traditional Cost Management System: Concept, Factors Affecting Cost Management, Cost Assignment. Applications of Marginal Costing and Cost Volume Profit analysis for decision making.

Strategic Cost Management (SCM): Concept and Philosophy, Key elements in SCM, Strategic Positioning and Cost Driver Analysis.

Cost Management and Performance Evaluation: Evaluation criteria; Return on Cash Systems; Balanced Score card: Concept, process, implementation of Balanced Score card. Value chain analysis; Activity Based Costing; Target and Life-Cycle Costing; Kaizen costing; Back Flush Costing.

Budgetary Control: Concept, types and Process. Introduction to Performance Budgeting and Zero Base Budgeting.

Uniform Costing and Inter-Firm Comparison, Responsibility Accounting. International transfer pricing: Meaning, objectives, methods and regulation; Approaches to accounting for foreign currency transactions, Methods of foreign currency translation.

Issues related to consolidation of financial statements of MNCs.

International taxation: Diversity of national tax systems, taxation of foreign source income and double taxation.

Financial Management

Financial Management: Meaning, Scope, and Objectives, Finance Functions: Investment, Financing and Dividend decisions; Capital Budgeting: Nature of Investment Decisions, Investment evaluation criteria: Payback period, Accounting rate of return, Net present value, Internal rate of return, Profitability Index, Capital Rationing, Capital Budgeting under Risk and Uncertainty.

Cost of Capital: Meaning and Significance, Cost of debt, preference capital, equity capital and retained earnings; Weighted average cost of capital.

Financial, operating and combined leverage: their measurement and effect on profit. Capital Structure: Concept and significance, Theories of Capital Structure, Dividend Policy: Forms of dividend, stability in dividend policy, Dividend theories, Dividends policy in practice.

Working Capital: Meaning, significance and types, Factors affecting working capital requirements, Determining working capital needs, Working capital management, Sources of working capital, Financing of working capital, Management of Cash, General Information regarding 11 posts of Divisional Accountant in the year of 2022 Receivables and Inventories; Mergers and Acquisitions: Reasons and Financial considerations.

International Finance: Concept and Goals; Role of International Finance Manager in an MNC; Globalization of World Economy; Recent trends. Foreign Direct Investment (FDI) and Multinational Corporations.

Financial System

Financial System: Meaning, nature, structure and role. An overview of Indian Financial System.

Financial Institutions: Banking System in India; Development Banks; Role played by IFCI, SIDBI, SFCs SIDCs in development of Indian economy.

NBFCs: concept, role, and RBI guidelines.

RBI: Organization, functions, credit creation, credit control, Recent Monetary Policy.

NABARD: Role and functions; SEBI: Organization, Functions.

Financial Markets: Meaning, nature, structure, significance of financial markets, Financial Markets in India Money market: Meaning, constituents, and functions of money market; Money market instruments; Recent trends in Indian money market.

Capital market: Primary and secondary markets, role and recent developments in Indian Capital Markets. International Stock Exchanges.

Financial Services: Nature and types; Merchant Banking: Role, Services provided by merchant bankers, Structure of Merchant Banking in India, SEBI regulations, recent developments; Underwriting: concept, SEBI regulations.

Mutual Funds: Meaning, types, SEBI guidelines, Current developments; Credit Rating: Meaning, significance, types; SEBI regulations for credit rating, Credit Rating Agencies; Venture Capital: Characteristics, SEBI guidelines, venture capital funds in India; Plastic Money: Concept, various forms of plastic money. Growth and Present Scenario of Plastic Money in India.

Auditing

Auditing: Concept, Nature and limitations of Auditing, Basic Principles governing an audit, Relationship between Accounting and Auditing, Classification of Auditing: Different basis of classification, Internal and External Audit, Statutory and Non-Statutory Auditing, Continuous, Interim and periodic audit.

Auditor’s Independence, Threats to Auditor’s Independence, Regulatory Framework to ensure auditor’s Independence; Standards of Auditing- Overview, Standards on Auditing issued by ICAI.

Company Audit: Preliminaries before commencement of Company Audit, Statutory requirements under Company Act 2013, Concept of true and fair, materiality and audit risk with respect to audit of companies. Company Auditor: Qualification, Disqualification, Appointment, Removal, Remuneration, Audit ceiling: Status, Power, Duties and Liabilities of Auditor.

Auditor Report: Qualifications, Disclaimers, Adverse opinion, Disclosures in reports and certificates. Management Audit; Cost Audit; Different Audits: Environmental Audit, Audit of Banks and Insurance companies, Auditing in EDP Environment.

Business Laws

Law of Contract (1872): Nature of contract, Classification ; Offer and acceptance; Capacity of parties; Free consent; Consideration; legality of object; Agreements declared void; Performance of contract; Discharge of contract; Remedies for breach of contract. Special Contracts: Indemnity; Guarantee; Bailment and Pledge.

Companies Act, 2013: Concept of Corporation and Legal Entity, Formation of a Company: Memorandum and Articles of Association and their alteration, Doctrine of Ultra Virus, Doctrine of Indoor Management, Prospectus, Shares and Share Capital, Transfer and Transmission of shares.

Borrowing Powers of the company: Fixed and Floating charge.
Management of companies, Directors; Meeting of directors and share holders; Winding up and dissolution.
Negotiable Instruments Act, 1881: Definition, types of negotiable instruments; Negotiation; Holder and holder in due course; Payment in due course; Endorsement and Crossing of Cheque: Presentation of negotiable instrument.
Competition Act 2002: Establishment, composition, duties, functions and powers of Competition Commission of India, Provisions relating to anti-competitive agreements.

Tax Laws

Introduction to Direct Tax Laws, Definitions, Basis of Charge-Determination of Residential Status under Income Tax Act 1961, Computation of Income under various Heads ( Salaries, House Property, Profits and Gains from Business and Profession , Capital Gains, Income from Other Sources).

Set Off and Carry Forward Losses, Income of other persons to be included in Total Income of the Assessee. Deduction out of Gross Total Income, Computation of Income in case of individuals, HUF, Partnership Firms, Companies.

Introduction to Tax Management: Concept of tax planning; Tax avoidance and tax evasion; Methods of tax planning.

Tax Planning for New Business: Tax planning with reference to location, nature and form of organization of new business.

Special Tax Provisions: Tax provisions relating to free trade zones, infrastructure sector and backward areas; Tax incentives for exporters.

Tax issues relating to Amalgamation and demerger of companies.

Tax Planning and Financial Management Decisions: Tax planning relating to capital structure decision, dividend policy, inter corporate dividends and bonus shares.

Tax Planning and Managerial Decisions : Tax planning in respect of own or lease, sale of assets used for scientific research, make or buy decisions; Repair, Replace, renewal or renovation and shutdown or continue decisions.

Double taxation avoidance agreements; Tax Planning and non-residents; Tax deductions and collection at source, Advance Payment of Tax.

Part-B
General Knowledge, Logical Reasoning & Mental Ability

(a)  General Knowledge and Current affairs of National and International importance including:

  • Economic issues.
  • Polity issues.
  • Environment issues
  • Science and Technology.
  • Any other current issues.
  • (a) History of India with special reference to Indian freedom struggle movement
  • (b) History of Punjab- 14th century onwards.

(b) Logical Reasoning & Mental Ability

  • Logical reasoning , analytical and mental ability
  • Basic numerical skills, numbers, magnitudes, percentage, numerical relation appreciation.
  • Data analysis, Graphic presentation charts, tables, spreadsheets.

Final Words :

All the Candidates are Advised to be in touch with the Official Website to got the Information Regarding Exam Syllabus, Admit Card & Other Related Information. Also the Candidates Can Bookmark us (www.jobriya.in) by Pressing Ctrl+D.

Candidates can leave your comments regarding Syllabus in the comment box. Any query & Comment will be highly welcomed. Our Panel will try to solve your query.

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