Meghalaya Public Service Commission Syllabus for Prelims 2021

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The Meghalaya Public Service Commission is the State Public Service Commission is provided under Article 315 read with Article 316 of the Constitution of India. Here is a Detailed Syllabus for MCS & MPS Preliminary Exam Optional Paper - Commerce.

MCS & MPS Prelims Syllabus

Optional Paper - Commerce

Part – I

Accounting and Auditing :

Accounting

• Nature, Scope and Objectives of Accounting‐Accounting as an Information System‐Users of Accounting Information.
• Generally Accepted Principles of Accounting – The Accounting Equation‐Accrual Concept‐Other concepts and conventions, Distinction between capital and revenue expenditure. Accounting
• Standards and their application‐Accounting standards relating to fixed assets, depreciation, inventory, recognition of revenue.
• Final Accounts of Sole Proprietors, Partnership Firms and Limited Companies‐Statutory
• Provisions – Reserves, Provisions and Funds.
• Final Accounts of non profit organisation.
• Accounting problems related to admission and retirement of a partner and dissolution of a firm.
• Accounting for shares and Debentures – Accounting treatment of convertible debentures.
• Analysis and Interpretation of Financial Statements Ratio analysis and interpretation. Ratios relation to short term liquidity, long term solvency and profitability‐Importance of the rate of return on investment (ROI) in evaluating the overall performance of a business entity‐Cash‐flow
• Statement and Statement of Source and Application of Funds‐Societal obligations of Accounting.

Auditing

‐ Nature, objectives and basic principles of auditing.

‐ Techniques of Auditing‐physical verification, examination of documents and vouching, direct confirmation, analytical review.

‐ Planning an audit, audit programmes, working papers, audit process.

‐ Evaluation of internal controls.

‐ Test checking and sampling.

‐ Broad outlines of company audit.

‐ Audit of non‐corporate enterprises.

‐ Internal and management audit.

Part – II

Business Organisation :

Distinct features of different forms of business organisation.

Sole Proprietor

Partnerships‐characteristics, Registration, Partnership deed, Rights and duties, Retirement,

Dissolution, 

Joint Stock Company‐Concept, characteristics, types.

Cooperative and State ownership forms of organisations.

Types of securities and methods of their issue.

Economic functions of the capital market, stock exchanges, Mutual Funds. Control and regulation of capital market.

Business combinations; control of Monopolies. Problems of modernisation of industrial enterprises. Social Responsibility of business.

Foreign Trade‐Procedure and financing of import and export trade. Incentives for export promotion. Financing of foreign trade.

Insurance‐Principles and practice of Life, Fire, Marine and General Insurance.

Management

Management functions – Planning‐strategies, Organising‐levels of authority Staffing, Line function and staff function, Leadership, Communication, Motivation, Directing‐Principles, Strategies.

Coordination‐Concept, types, methods.

Control‐principles, performance standards, corrective action. Salary and wage administration‐Job evaluation.

Organisation Structure – Centralization and decentralisation‐Delegation of authority‐span of control‐Management by objectives and Management by Exception.

Management of change; Crisis Management.

Office Management‐scope and principles; systems and routines; handling of records‐modern aids to Office management; office equipment and machines; Automation and Personal computers.

Impact of Organisation and Methods (O & M).

Commerce

Company Law

Joint stock companies‐incorporation; documents and formalities‐Doctrine of indoor

management and constructive notice.

Duties and powers of the board of directors of a company.

Accounts and Audit of Companies.

Company Secretary‐role and functions‐qualifications for appointment.

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