Common Proficiency Test (CPT) Preparation Study Guide -
Section A: Fundamentals of Accounting (60 Marks)1. Theoretical Framework: (i) Meaning and Scope of Accounting, (ii) Accounting Concepts, Principles and Conventions, (iii) Accounting Standard – concepts, objectives, benefits, (iv) Accounting
Policies and (v) Accounting as a measurement discipline – valuation principles, accounting estimates.
2. Accounting Process: Books of Accounts leading to the preparation of
Trial Balance, Capital and revenue expenditure, Capital and revenue receipts, Contingent assets and contingent liabilities, Fundamental errors including rectifications thereof.
3. Bank reconciliation Statement.
4. Inventories: Basis of inventory valuation and record keeping.
5. Depreciation Accounting: Methods, computation and accounting treatment of depreciation, Change in depreciation methods.
6. Preparation of Final Accounts for Sole Proprietors.
7. Accounting for Special Transactions: (a) Consignments, (b) Joint Ventures, (c) Bills of exchange and promissory notes, (d) Sale of goods on approval or return basis.
8. Partnership Accounts: Final accounts of partnership firms – Basic concepts of admission, retirement and death of a partner including treatment of goodwill.
9. Introduction to Company Accounts: Issue of shares and debentures, forfeiture of shares, re-issue of forfeited shares, redemption of preference shares.
Section B: Mercantile Law (40 Marks)1. The Indian Contract Act, 1872: An overview of Sections 1 to 75 covering the
general nature of contract, consideration, other essential elements of a valid contract, performance of contract and breach of contract.
2. The Sale of Goods Act, 1930: Formation of the contract of sale-Conditions and Warranties-Transfer of ownership and delivery of goods-Unpaid seller and his rights.
3. The Indian Partnership Act, 1932: General Nature of Partnership-Rights and duties of partners-Registration and dissolution of a firm.
Section C: General Economics (50 Marks)(I) Micro Economics
1. Introduction to Micro Economics: (a) Definition, scope and nature of Economics, (b) Methods of economics study, (c) Central problems of an economy and Production possibilities curve.
2. Theory of Demand and
Supply: (a) Meaning and determinants of demand, Law of demand and Elasticity of Demand-Price, income and cross elasticity, (b) Theory of consumer's behaviour Marshallian approach and Indifference curve approach, (c) Meaning and determinants of supply, Law of supply and Elasticity of supply.
3. Theory of Production and Cost: (a) Meaning and Factors of production, (b) Laws of Production-The Law of Variable proportions and Law of Returns to Scale, (c) Concepts of Costs - Short-run and long-run Costs, Average and Marginal costs, Total, fixed and variable costs.
4. Price Determination in Different Markets: (a) Various forms of markets – Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly, (b) Price determination in these markets.
(II) Indian Economic Development5. Indian Economy – A Profile: (a) Nature of the Indian Economy, (b) Role of different sectors – Agriculture, Industry and
Services in the development of the Indian Economy, their problems and growth, (c) National Income of India – Concepts of national income, Different methods of measuring national income, Growth of national income and per capita income in various Plans, (d) Basic understanding of tax system of India –
Direct and Indirect Taxation.
6. Select Aspects of Indian Economy: (a) Population – Its size, rate of growth and its implication for growth, (b) Poverty – Absolute and relative poverty and main programs for poverty alleviation, (c) Unemployment – Types, causes and incidence of unemployment, (d) Infrastructure – Energy, Transportation, Communication,
Health and Education, (e) Inflation, (f) Budget and Fiscal deficits, (g) Balance of payments, (h) External debts,
7. Economic Reforms of India: (a) Features of economic reforms since 1991, (b) Liberalisation, Privatisation and Disinvestment, (c) Globalisation.
8.
Money and Banking: (a) Money – Meaning and functions, (b) Commercial Banks – Role and functions, (c) Reserve Bank of India – Role and functions, Monetary policy.
Section D: Quantitative Aptitude (50 Marks)1. Ratio and proportion, Indices, Logarithms
2. Equations: Linear – simultaneous linear equations up to three variables, quadratic and cubic equations in one variable, equations of a straight line, intersection of straight lines, graphical solution to linear equations.
3. Inequalities: Graphs of inequalities in two variables-common region.
4. Simple and Compound Interest including annuity-Applications.
5. Basic concepts of Permutations and Combinations.
6. Sequence and Series-Arithmetic and geometric progressions.
7. Sets, Functions and Relations.
8. Limits and Continuity-Intuitive Approach.
9. Basic concepts of Differential and Integral Calculus (excluding trigonometric functions)
10. Statistical description of data: (a) Textual, Tabular and Diagrammatic representation of data, (b) Frequency Distribution, (c) Graphical representation of frequency distribution – Histogram, Frequency Polygon, Ogive.
11. Measures of Central Tendency and Dispersion: Airthmetic Mean, Median-Partition Values, Mode, Geometric Mean and Harmonic Mean, Standard deviation, Quartile deviation.
12. Correlation and Regression.
13. Probability and Expected Value by Mathematical Expectation.
14. Theoretical Distribution: Binomial, Poisson and Normal.
15. Sampling Theory: Basic Principles of sampling theory, Comparison between sample survey and complete enumeration, Errors in sample survey, Some important terms associated with sampling, Types of sampling, Theory of estimation, Determination of sample size.
16. Index Numbers.
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Adi Sankaracharya came to tirumala and placed sri chakra at the lotus feet of Lord Venkateshwara and sung the famous song "Bhaja Govindam". So Lord venkateshwara is the supreme god of this kali yuga.
Thirunamam – Namam means “Name”. The shape of the Thirunamam - The two white lines on the side represent the Lords feet and the RED line in the middle represents Laxmi.