WB SET Commerce Syllabus, Subject Code 06, West Bengal SET


WB SET Commerce Syllabus, Subject Code 06, West Bengal SET

Unit 1: Business Environment and International Business.

Unit 2: Accounting and Auditing.

Unit 3: Business Economics.

Unit 4: Business Finance.

Unit 5: Business Statistics and Research Methods.

Unit 6: Business Management and Human Resource Management.

Unit 7: Banking and Financial Institutions.

Unit 8: Marketing Management.

Unit 9: Legal Aspects of Business.

Unit 10: Income-tax and Corporate Tax Planning.

Unit 1: Business Environment and International Business.

(1) Concepts and elements of business environment: Economic environment- Economic systems, Economic policies(Monetary and fiscal policies); Political environment- Role of government in business; Legal environment- Consumer Protection Act, FEMA; Socio-cultural factors and their influence on business; Corporate Social Responsibility (CSR).

(2) Scope and importance of international business; Globalization and its drivers; Modes of entry into international business.

(3) Theories of international trade; Government intervention in international trade; Tariff and non-tariff barriers; India’s foreign trade policy.

(4) Foreign direct investment (FDI) and Foreign portfolio investment (FPI); Types of FDI, Costs and benefits of FDI to home and host countries; Trends in FDI; India’s FDI policy.

(5) Balance of payments (BOP): Importance and components of BOP.

(6) Regional Economic Integration: Levels of Regional Economic Integration; Trade creation and diversion effects; Regional Trade Agreements: European Union (EU), ASEAN, SAARC, NAFTA.

(7) International Economic institutions: IMF, World Bank, UNCTAD.

(8) World Trade Organisation (WTO): Functions and objectives of WTO; Agriculture Agreement; GATS; TRIPS; TRIMS.

Unit 2: Accounting and Auditing.

(1) Basic accounting principles; concepts and postulates.

(2) Partnership Accounts: Admission, Retirement, Death, Dissolution and Insolvency of partnership firms.

(3) Corporate Accounting: Issue, forfeiture and reissue of shares; Liquidation of companies; Acquisition, merger, amalgamation and reconstruction of companies.

(4) Holding company accounts.

(5) Cost and Management Accounting: Marginal costing and Break-even analysis; Standard costing; Budgetary control; Process costing; Activity Based Costing (ABC); Costing for decision-making; Life cycle costing, Target costing, Kaizen costing and JIT.

(6) Financial Statements Analysis: Ratio analysis; Funds flow Analysis; Cash flow analysis.

(7) Human Resources Accounting; Inflation Accounting; Environmental Accounting.

(8) Indian Accounting Standards and IFRS.

(9) Auditing: Independent financial audit; Vouching; Verification ad valuation of assets and liabilities; Audit of financial statements and audit report; Cost audit.

(10) Recent Trends in Auditing: Management audit; Energy audit; Environment audit; Systems audit; Safety audit.

Unit 3: Business Economics.

(1) Meaning and scope of business economics.

(2) Objectives of business firms.

(3) Demand analysis: Law of demand; Elasticity of demand and its measurement; Relationship between AR and MR.

(4) Consumer behavior: Utility analysis; Indifference curve analysis.

(5) Law of Variable Proportions: Law of Returns to Scale.

(6) Theory of cost: Short-run and long-run cost curves.

(7) Price determination under different market forms: Perfect competition; Monopolistic competition; Oligopoly- Price leadership model; Monopoly; Price discrimination.

(8) Pricing strategies: Price skimming; Price penetration; Peak load pricing.

Unit 4: Business Finance.

(1) Scope and sources of finance; Lease financing.

(2) Cost of capital and time value of money.

(3) Capital structure.

(4) Capital budgeting decisions: Conventional and scientific techniques of capital budgeting analysis.

(5) Working capital management; Dividend decision: Theories and policies.

(6) Risk and return analysis; Asset securitization.

(7) International monetary system.

(8) Foreign exchange market; Exchange rate risk and hedging techniques.

(9) International financial markets and instruments: Euro currency; GDRs; ADRs.

(10) International arbitrage; Multinational capital budgeting.

Unit 5: Business Statistics and Research Methods.

(1) Measures of central tendency.

(2) Measures of dispersion.

(3) Measures of skewness.

(4) Correlation and regression of two variables.

(5) Probability: Approaches to probability; Bayes’ theorem.

(6) Probability distributions: Binomial, poisson and normal distributions.

(7) Research: Concept and types; Research designs.

(8) Data: Collection and classification of data.

(9) Sampling and estimation: Concepts; Methods of sampling – probability and non probability methods; Sampling distribution; Central limit theorem; Standard error; Statistical estimation.

(10) Hypothesis testing: z-test; t-test; ANOVA; Chi–square test; Mann-Whitney test (U test); Kruskal-Wallis test (H-test); Rank correlation test.

(11) Report writing.

Unit 6: Business Management and Human Resource Management.

(1) Principles and functions of management.

(2) Organization structure: Formal and informal organizations; Span of control.

(3) Responsibility and authority: Delegation of authority and decentralization.

(4) Motivation and leadership: Concept and theories.

(5) Corporate governance and business ethics.

(6) Human resource management: Concept, role and functions of HRM; Human resource planning; Recruitment and selection; Training and development; Succession planning.

(7) Compensation management: Job evaluation; Incentives and fringe benefits.

(8) Performance appraisal including 360 degree performance appraisal.

(9) Collective bargaining and workers’ participation in management.

(10) Personality: Perception; Attitudes; Emotions; Group dynamics; Power and politics; Conflict and negotiation; Stress management.

(11) Organizational Culture: Organizational development and organizational change.

Unit 7: Banking and Financial Institutions.

(1) Overview of Indian financial system.

(2) Types of banks: Commercial banks; Regional Rural Banks (RRBs); Foreign banks; Cooperative banks.

(3) Reserve Bank of India: Functions; Role and monetary policy management.

(4) Banking sector reforms in India: Basel norms; Risk management; NPA management.

(5) Financial markets: Money market; Capital market; Government securities market.

(6) Financial Institutions: Development Finance Institutions (DFIs); Non-Banking Financial Companies (NBFCs); Mutual Funds; Pension Funds.

(7) Financial Regulators in India.

(8) Financial sector reforms including financial inclusion.

(9) Digitisation of banking and other financial services: Internet banking; mobile banking; Digital payments systems.

(10) Insurance: Types of insurance- Life and Non-life insurance; Risk classification and management; Factors limiting the insurability of risk; Re-insurance; Regulatory framework of insurance- IRDA and its role.

Unit 8: Marketing Management.

(1) Marketing: Concept and approaches; Marketing channels; Marketing mix; Strategic marketing planning; Market segmentation, targeting and positioning.

(2) Product decisions: Concept; Product line; Product mix decisions; Product life cycle; New product development.

(3) Pricing decisions: Factors affecting price determination; Pricing policies and strategies.

(4) Promotion decisions: Role of promotion in marketing; Promotion methods – Advertising; Personal selling; Publicity; Sales promotion tools and techniques; Promotion mix.

(5) Distribution decisions: Channels of distribution; Channel management.

(6) Consumer Behaviour; Consumer buying process; factors influencing consumer buying decisions.

(7) Service marketing.

(8) Trends in marketing: Social marketing; Online marketing; Green marketing; Direct marketing; Rural marketing; CRM.

(9) Logistics management.

Unit 9: Legal Aspects of Business.

(1) Indian Contract Act, 1872: Elements of a valid contract; Capacity of parties; Free consent; Discharge of a contract; Breach of contract and remedies against breach; Quasi contracts;

(2) Special contracts: Contracts of indemnity and guarantee; contracts of bailment and pledge; Contracts of agency.

(3) Sale of Goods Act, 1930: Sale and agreement to sell; Doctrine of Caveat Emptor; Rights of unpaid seller and rights of buyer.

(4) Negotiable Instruments Act, 1881: Types of negotiable instruments; Negotiation and assignment; Dishonour and discharge of negotiable instruments.

(5) The Companies Act, 2013: Nature and kinds of companies; Company formation; Management, meetings and winding up of a joint stock company.

(6) Limited Liability Partnership: Structure and procedure of formation of LLP in India.

(7) The Competition Act, 2002: Objectives and main provisions.

(8) The Information Technology Act, 2000: Objectives and main provisions; Cyber crimes and penalties.

(9) The RTI Act, 2005: Objectives and main provisions.

(10) Intellectual Property Rights (IPRs) : Patents, trademarks and copyrights; Emerging issues in intellectual property.

(11) Goods and Services Tax (GST): Objectives and main provisions; Benefits of GST; Implementation mechanism; Working of dual GST.

Unit 10: Income-tax and Corporate Tax Planning.

(1) Income-tax: Basic concepts; Residential status and tax incidence; Exempted incomes; Agricultural income; Computation of taxable income under various heads; Deductions from Gross total income; Assessment of Individuals; Clubbing of incomes.

(2) International Taxation: Double taxation and its avoidance mechanism; Transfer pricing.

(3) Corporate Tax Planning: Concepts and significance of corporate tax planning; Tax avoidance versus tax evasion; Techniques of corporate tax planning; Tax considerations in specific business situations: Make or buy decisions; Own or lease an asset; Retain; Renewal or replacement of asset; Shut down or continue operations.

(4) Deduction and collection of tax at source; Advance payment of tax; E-filing of income-tax returns.


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