CS Executive exam pattern 2021 comprises subjective and objective questions. Students need to prepare for eight subjects. The learned methodology for preparation from an examination point of view is to understand the ABC analysis of the syllabus, revise the amendments, revise the case studies and practice any number of times for precise time management.
ABC Analysis
The CS executive new syllabus 2021 has changed the subject names. Jurisprudence, interpretation and general laws subject, setting up of business entities, and closure, Company law, and tax laws come under module one. In module two, the students prepare for Corporate and management accounting, securities laws and capital markets, economic, business and commercial laws, and financial and strategic management. Tax laws, corporate accounting and financial and strategic management handle the legal aspect in finance. Company secretaries plan the existing project, new project, discuss with the board of directors and discuss with the financial institutions for smooth functioning and procure finance.
As per the new syllabus from 2018, the first paper jurisprudence, interpretation and general laws has the following topics with crucial importance constitution of India, arbitration and conciliation Act, 1996, Civil procedure code, 1908. The second place goes to the chapters Indian penal code, 1860, Indian evidence Act, 1872, Law of Torts, Criminal procedure code, 1973, special courts and tribunals. In the third place, the chapters with less importance have been listed. The chapters in the third-place are administrative law, limitation act, 1963, Indian stamp act, 1899, source of law, information technology act, 2000, interpretation of statutes, general clauses act, 1897, right to information act, 2005, registration of documents act, 1908.
The second paper Company law consists of the following crucial topics introduction to Company law, shares and share capital, members and shareholders, debt instruments, charges, distribution of profits, corporate social responsibility, accounts, audit and auditors, and transparency and disclosures.
Important topics with taxation for the ICSI exam pattern for 2021 are as follows: direct taxes at a glance, basic concepts of income tax, income which does not form part of total income, salary, house property, profit and gains from business, capital gain, income from other sources, carry forward of losses, clubbing provision and set off, deduction from gross total income, the tax liability of various entities, classification and tax incidence on companies, procedural compliances, assessment, appeals and revision, the concept of indirect taxes at a glance, GST, the concept of time, value and place of taxable supply, and Customs.
The crucial topics in corporate accounting for the ICSI CS exam 2021 are accounting standards, consolidation, theory of accounting and auditing, EVA and VAS. The crucial topics in management accounting are an introduction, cost audit and MIS, valuation of shares, business and intangible assets.
The important topics in securities laws and capital market are the structure of the capital market, securities market intermediaries, SEBI, 2018, SEBI, 2011. Important topics in economic business and commercial law are the competition act, 2002, special economic zones act, 2005.
Important topics in financial strategic management are working capital, capital budgeting, portfolio management, cost of capital. Strategic analysis and planning, and business policy and formulation of functional strategy are the important topics in Strategic management.
How to write case studies in the CS executive 2021 exam?
For every subject, the provisions explain the changes. The financial calculations and provisions are the point that concludes the case study. The Company law amendment about Corporate social responsibility rule 6{1}, 2014 states that the Company in whose core business activity is research and development cannot show the activity related to the research for a new drug in the financial statement. The annual report must include the CSR activity separately. The amount spent on research and development and production is different. Research and development are for the new product and competitive edge over the market. So, calculating the financial figure, applying the provision from the law as per the latest amendment and detailing the conclusion are the three levels of the process which efficiently detail the case study.
In paper three, the provision for non-compliance of the foreign company the punishment is relaxed with a fine of 25,000 or 5 lakhs. The old provision consists of punishment with imprisonment or fine. The new provision is relaxed with the fine alone. The calculation of the fine amount, application of the new provision and the conclusion explains the case study in a detailed presentation.
As per section 194-0 from direct tax law, an e-commerce Company must pay a tax of one per cent over the sale of goods sold through a digital or electronic platform. When dealing with such provision the student needs to calculate the sales amount and income tax first. Then apply the provision of the direct tax over the sales and provide the concluding points. The numerical figures detail the student about the calculations. The collection of income tax to the e-commerce companies is explained with the amendments from the year October 1, 2020. The provision and concluding points must be presented in the answer paper with proper sections and years for precise understanding.
Bottom line
Learning the provisions of the 2021 year help the student to apply the knowledge in multiple legal cases. At RR academy, the faculties provide ample practice over the amendments and case studies. The exam pattern is set depending upon the important topics, amendments, and case studies. So, planning the strategies with an epitome of rank holders help the students to reach the desired status.