Syllabus For Nov 2014 IPCC Examinations

Revision of syllabus of Group – I 

 Paper- 4 - Taxation – Part – II 

and 

Group – II 

 Paper – 7 - Section A: Information Technology 

of Intermediate (IPC) Course

 INTERMEDIATE (IPC), GROUP I, PAPER 4: TAXATION

PART II – INDIRECT TAXES (50 MARKS)

Objective:

To develop an understanding of the basic concepts of the different types of indirect taxes and to

acquire the ability to analyse the significant provisions of service tax.

1. Introduction to excise duty, customs duty, central sales tax and VAT – Constitutional

aspects, Basic concepts relating to levy, taxable event and related provisions

2. Significant provisions of service tax

(i). Constitutional Aspects

(ii) Basic Concepts and General Principles

(iii) Charge of service tax including negative list of services

(iv) Point of taxation of services

(v) Exemptions and Abatements

(vi) Valuation of taxable services

(vii) Invoicing for taxable services

(viii) Payment of service tax

(ix) Registration

(x) Furnishing of returns

(xi) CENVAT Credit [Rule 1 -9 of CENVAT Credit Rules, 2004]

Note – If new legislations are enacted in place of the existing legislations the syllabus will

accordingly include the corresponding provisions of such new legislations in place of the existing

legislations with effect from the date to be notified by the Institute. Students shall not be examined

with reference to any particular State VAT Law.

Intermediate (IPC), Group-II, Paper-7A: Information Technology

Paper - 7A: Information Technology (50 Marks)

Level of Knowledge: Working Knowledge

Objective: “To develop understanding of Information Technology as a key enabler and facilitator of

implementing Information Systems in enterprises and their impact on business processes and controls”.

Contents :

1. Business Process Management & IT

· Introduction to various Business processes – Accounting, Finances, Sale, Purchase etc.

· Business Process Automation – Benefits & Risks

· Approach to mapping systems : Entity Diagrams, Data Flow Diagrams, Systems Flow

diagrams, Decision trees/tables,  

· Accounting systems vs. Value chain automation, Information as a business asset

· Impact of IT on business processes, Business Risks of failure of IT

· Business Process Re-engineering

2. Information Systems and IT Fundamentals

· Understand importance of IT in business and relevance to Audit with case studies.

· Understand working of computers and networks in business process automation from

business information perspective

· Concepts of Computing (Definition provided by ACM/IEEE and overview of related

terminologies)  

· Overview of IS Layers – Applications, DBMS, systems software, hardware, networks &

links and people

· Overview of Information Systems life cycle and key phases

· Computing Technologies & Hardware – Servers, end points, popular computing

architectures, emerging computing architectures & delivery models – example: SaaS, Cloud

Computing, Mobile computing, etc.

· Example: Overview of latest devices/technologies – i5, Bluetooth, Tablet, Wi-Fi, Android,

Touchpad, iPad, iPod, Laptop, Notebook, Smartphone, Ultra- Mobile PC etc.)

3. Telecommunication and Networks

· Fundamentals of telecommunication  

· Components and functions of Telecommunication Systems

· Data networks – types of architecture, LAN, WAN, Wireless, private and public

networks etc.

· Overview of computing architectures – centralised, de-centralised, mainframe, clientserver,

thin-thick client etc.

· Network Fundamentals – Components, Standards and protocols, Network risks &

controls – VPN, Encryption, Secure protocols,

· Network administration and management – concepts and issues

· How information systems are facilitated through telecommunications.

· How Internet works, Internet architecture, key concepts, risks and controls

· e-Commerce and M-commerce technologies

4. Business Information Systems

· Information Systems and their role in businesses

· IT as a business enabler & driver – ERP, Core Banking System, CRM, SCM, HRMS,

Payment Mechanisms

· The relationship between organisations, information systems and business processes

· Accounting Information Systems and linkages to Operational systems

· Business Reporting, MIS & IT

· Organisation Roles & responsibilities and table or authorities, importance of access

controls, privilege controls

· Specialised systems - MIS, DSS, Business Intelligence, Expert Systems, Artificial

Intelligence, Knowledge Management systems etc.

5. Business process automation through Application software

· Business Applications – overview and types

· Business Process Automation, relevant controls and information systems

· Information Processing & Delivery channels and their role in Information Systems

· Key types of Application Controls and their need

· Emerging concepts – Virtualisation, Grid Computing, Cloud delivery model

For Official Notification : 

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Applicability of Companies Act 2013 
(Paper 2 - Law)

As students may be aware that The Companies Act 2013 has been notified in the Official Gazette on 30th August, 2013 stating that different dates may be appointed for enforcement of different provisions of this Act through notification of the Central Government in this regard.

Having regard to the above development, the Council at its 330th meeting revised the syllabus in a limited manner in the following papers of Intermediate (IPC) as per Annexure I .

The Central Government has notified 98 sections of The Companies Act 2013 on 12th September, 2013. Accordingly, those 98 notified sections are applicable for November 2014 examinations corresponding to their bifurcation into the Intermediate (IPC) and Final Course(s),

i.e. from these 98 sections, 53 sections have been included in the Paper – 2, Business Laws, Ethics and Communication, Intermediate (IPC) Course, and 45 have been included in the Paper- 4, Corporate and Allied Laws, Final Course.

For Supplimentary Material of Law  

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