Business Accountancy is a very fast growing area of employment with great demand from small and medium industries sector. Vskills Certified Business Accountant record and analyze the financial information of the companies for which they work. They are usually part of executive and finance teams. Vskills Certified Business Accountants can find jobs in SMEs all over the country. http://www.vskills.in/certification/Certified-Business-Accountant

1. Certified Business Accountant
VS-1015

2. Certified Business Accountant
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Certified Business AccountantCertified Business AccountantCertified Business AccountantCertified Business Accountant
Certification CodeCertification CodeCertification CodeCertification Code VS-1015
Business AccountancyBusiness AccountancyBusiness AccountancyBusiness Accountancy is a very fast growing area of employment with great demand from small and
medium industries sector. Vskills Certified Business Accountant record and analyze the financial
information of the companies for which they work. They are usually part of executive and finance
teams. Vskills Certified Business Accountants can find jobs in SMEs all over the country.
Why should one take this certification?Why should one take this certification?Why should one take this certification?Why should one take this certification?
In order to demonstrate a clear understanding of the subject and evaluating the practical aspects of
accounting with a view to get a visible recognition for the knowledge possessed.
Who will benefit from taking this certification?Who will benefit from taking this certification?Who will benefit from taking this certification?Who will benefit from taking this certification?
Students looking to find employment in accountancy jobs, teachers of accounts, managers of
companies who wish to understand accountancy, small and medium enterprise proprietors who
want to have a better control over their accounts and anyone having interest in the Accountancy
area.
TeTeTeTest Details:st Details:st Details:st Details:
Duration:Duration:Duration:Duration: 60 minutes
No. of questions:No. of questions:No. of questions:No. of questions: 50
Maximum marks:Maximum marks:Maximum marks:Maximum marks: 50, Passing marks: 25 (50%); There is no negative marking in this module.
Fee Structure:Fee Structure:Fee Structure:Fee Structure:
Rs. 4,000/- (Includes all taxes)
Companies that hire Vskills CertifiedCompanies that hire Vskills CertifiedCompanies that hire Vskills CertifiedCompanies that hire Vskills Certified Business AccountantBusiness AccountantBusiness AccountantBusiness Accountant
Business Accountant are in great demand and major companies in India hire them.
International job consultants also are constantly looking for overseas jobs. The skill is also greatly in
demand in super specialized government projects on contract basis.

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Table of Content
1.1.1.1. Meaning And Scope Of AccountingMeaning And Scope Of AccountingMeaning And Scope Of AccountingMeaning And Scope Of Accounting
1.1 Meaning of Accounting
1.2 Basics of Bookkeeping and Accounting
1.3 Accounting Concepts and Principles
1.4 Branches of Accounting
1.5 Classification of Expense, Income, Assets and Liabilities
1.6 Financial Statements
1.7 Systems of Accounting
1.8 Source Document
1.9 Journal
1.10 Ledger
1.11 Trial Balance
1.12 Subsidiary Books
1.13 Types of Subsidiary Books
1.14 Journal Proper
1.15 Cash Book
1.16 Bank Pass Book
1.17 Petty Cash Book
1.18 Imprest system
1.19 Bank Reconciliation Statement
1.20 Rectification of Errors
1.21 Suspense Account
1.22 Capital Expenditure and Revenue Expenditure
1.23 Capital Receipts and Revenue Receipts
1.24 Depreciation
1.25 Company Final Accounts
1.26 Shares
2.2.2.2. TaxationTaxationTaxationTaxation
2.1 Terminologies
2.2 Residential Status of an entity
2.3 Income Tax Liability
2.4 Computation of Total Income
2.5 Heads of Income Tax
2.6 Taxability of Income
2.7 Income under House and Property
2.8 Deductions from Gross Total Income
2.9 Income from other source
2.10 Advance Tax
2.11 Tax Deduction at Source (TDS)

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2.12 Wealth Tax in India
2.13 Service Tax and statutory provisions
2.14 VAT General Provisions
2.15 CENVAT
3.3.3.3. Banking & FinanceBanking & FinanceBanking & FinanceBanking & Finance
3.1 Introduction
3.2 Banking Acts and Regulations
3.3 Types of Banks
3.4 Services offered by a Bank
3.5 Deposit Products
3.6 Mortgage and Loans
3.7 Banking Instruments
3.8 Clearing House
3.9 MICR – Magnetic Ink Character Recognition
3.10 ATM – Automated Teller Machine
3.11 Electronic Banking
3.12 Corporate Banking
3.13 Telebanking/Telephone Banking
3.14 Voice-Mail Facility
3.15 Plastic Money
3.16 Loan Scheduling and Development
4.4.4.4. Costing & AuditingCosting & AuditingCosting & AuditingCosting & Auditing
4.1 Introduction to Costing
4.2 Concept of Cost Accounting
4.3 Material / Inventory
4.4 Activity Based Costing (ABC)
4.5 Marginal Costing/ Break Even Analysis
4.6 Variance Analysis
4.7 Introduction to Auditing
4.8 Book-keeping, Accountancy and Auditing
4.9 Advantages of Auditing
4.10 Limitations of Auditing
4.11 Purpose of Audit
4.12 Types of Audit
4.13 Vouching
4.14 Verification of Assets and Liabilities
4.15 Valuation
5.5.5.5. Investment & Financial MarketInvestment & Financial MarketInvestment & Financial MarketInvestment & Financial Market
5.1 Investment Market and its operation
5.2 Risk and Return
5.3 Financial Market, Participants and Instruments
5.4 Security Market and Emerging Trends
5.5 Company Capital/Shares

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5.6 Portfolio Management
5.7 Bonds and Debentures
5.8 Derivatives
5.9 Hedging
5.10 Depository
5.11 Dematerialisation and Rematerialisation
5.12 Mutual Funds
5.13 Stock Exchange/Screen Based Trading
5.14 Investors Protection, Grievance and Education
5.15 Time Value Money
5.16 Ratio Analysis

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Course OutlineCourse OutlineCourse OutlineCourse Outline
Meaning And Scope Of AccountingMeaning And Scope Of AccountingMeaning And Scope Of AccountingMeaning And Scope Of Accounting
Understand the Meaning and scope of Accounting
Explains the basics concepts of Bookkeeping and Accounting
Understand the Concepts and Principles of Accounting
Explains about the Branches of Accounting and there applications
Explain the Classification of Expense, Income, Assets and Liabilities
Explains the various financial statements used in the accounting system
Brief on the structure of accounting system
Describes about the source documents used
Explains the methodology of journalizing, the type of entries recorded in the journal and the
advantages of journalizing.
Understand the type of ledger accounts that can be maintained, procedure of posting ledger
and how the accounts are balanced after posting
Describes about the objectives, methodology and drawbacks of preparing trial balance
Introduction to the types of subsidiary books, advantages of preparing a subsidiary
Describes the types of Subsidiary Books such as purchase book, sales book, purchase return
book, sales return book, bills receivable book and bills payable book
Explains the concepts of Journal Proper i.e., how to pass an opening entry, transfer entry,
adjusting entries and entries with rare transactions.
Distinction between cash and non-cash transactions and the documents required to be
maintained in a cash book
Explains the types of cash books such as single column, double column and triple column cash
book and provides with the rules and procedures of posting entries in these different types of
cash book.
Describes the Imprest system and the procedure of maintaining a Petty Cash Book
Explains the causes of difference between the bank statements and cash book maintained, need
and practice of maintaining Bank Reconciliation Statement
Describes the types of accounting errors and the various stages of rectification of these
accounting errors
Explains the need for maintaining a suspense account and the procedure of disposal of
suspense account
Describes the types of capital and revenue expenditure incurred and distinction between capital
and revenue expenditure.
Describes the types of Capital Receipts and Revenue Receipts distinction between capital and
revenue receipt.
Explains the characteristics and objectives of charging depreciation
Understand the causes of depreciation and explain the various methods of charging
depreciation
Explains the characteristics of a company and elaborates on the classification of companies on
the basis of liability, number of members
Provides details about the documents required to be filed in the formation of a company.

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Understand the types of shares issued by a company
Gives details on the guidelines issued by SEBI on issue of shares to raise capital
Explains the procedure of issue of shares and the treatment in case of over-subscription and
under-subscription of shares
Describes the conditions of forfeiture and surrender of shares and the procedure of re-issue of
forfeited shares
Explains the conditions and process of redemption of preference shares,
Explains the guidelines for issue of bonus shares and the procedure of buy-back securities
TaxatioTaxatioTaxatioTaxationnnn
Understand the basic terminologies used in taxation
Explains the income tax liability depending on the Residential Status of an entity such as an
individual, an association of persons, a company, every other person and Hindu Undivided
Family (HUF).
Explains the classification of liability of income tax depending on Indian and Foreign income.
Explains the procedure of Computation of Total Income
Describes the five heads under which Income Tax is charged such as Income from salary,
Income from house and property, Income from capital gains and Income from other sources
Details of the mathematical computation of tax liability
Describes the Taxability of Income under Partnership firm, Domestic company and Foreign
company
Elaborates the various deductions applicable from Gross Total Income such as Section 80C,
80CCC, 80CCD, 80D, 80DD, 80DDB, 80E, 80G, 80GG, 80GGA, 80GGC, 80QQB, 80RRB,
80U.
Explain the concepts of Advance Tax and the section that are applicable
Understand the concept and the procedure of application of Tax Deduction at Source
(TDS) under different circumstances
Gives details on the various types of assets that are subject to wealth tax and the assets that are
exempted from wealth tax.
Explains the procedure of filing return and the process of payment of wealth tax
Explains the concepts and statutory provisions of service Tax in India
Understand the general provisions of VAT, different stages of application of VAT and the
method of calculation of VAT.
Describe the new CENVAT scheme, the types of input and output services
Provides details about the documents on the basis of which CENVAT credit can be availed
and the penalty with respect to wrong availment of CENVAT credit
Banking & FinanceBanking & FinanceBanking & FinanceBanking & Finance
Describes the present system of banking with respect to the various banking Acts and
regulations such as Banking regulation act, Reserve bank of India act
Explains the categorization of Banks in the Indian banking system and the services that are
offered by a bank
Describes the various type of deposit products such as Demand deposit and Term deposit and
their further categorization

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Explains the various type of business loans, procedure of taking a home loan, characteristics of
a personal loan ad the documents required for applying consumer loans
Give details on the various type of banking instruments, their provision and working such as
deposit slips, cheque etc.
Explains the clearing process, membership in a clearing house, settlement of funds, and return
clearing
Introduction to MICR – Magnetic Ink Character Recognition and its advantages
Understand the type of ATM facilities that are offered in general and its benefits
Explains the benefits and limitations of Electronic Banking
Explain the concept of Tele-banking/Telephone Banking and voice-mail services offered
Understand the usage, benefits and limitation of plastic money such as Debit card and Credit
card
Understand the Loan Scheduling and Development procedure and elaboration on
presentation of a loan
Costing & AuditingCosting & AuditingCosting & AuditingCosting & Auditing
Introduction to Costing
Explains the Concept and the primary features of Cost Accounting
Explains the type of Material / Inventory, motives of holding inventory, types of cost incurred
in maintaining inventory and the factors affecting the level of stock
Explain the various methods of material valuation, describes the various methods of
remuneration and the steps for setting up an incentive scheme
Understand concept of Activity Based Costing (ABC) and the ABC modeling
Explains the concept of Marginal Costing/ Break Even Analysis and distinguish between
marginal costing and absorption costing
Understand the theory of Variance Analysis and explains the types of variances such as
Material variance, Labour variance, Overheads variance and Sales variance
Introduction to Auditing, steps involved in auditing, need of auditing
Understand the objectives and purpose of auditing, describes the qualities of an auditor
Distinction between accountancy and auditing
Distinction between investigation and auditing
Describes the advantages and limitations of auditing
Explains the different types of Audits
Explain the concept of Vouching, objectives of vouching , techniques of vouching, need of a
voucher and inspection of a voucher
Explains the procedure involved in vouching of cash sales
Understand the concept of Verification of Assets and Liabilities
Introduction to valuation of assets depending on their classification and the responsibility of an
auditor in valuation of assets
Investment & Financial MarketInvestment & Financial MarketInvestment & Financial MarketInvestment & Financial Market
Understand the Investment environment, investment process, motives of investment and the
various factors of sound investment
Classification and distinction between different investment activities

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Explains the concept of risk and return when investing in financial market
Understand the current financial system, classification of Financial markets, members in the
financial market and the various financial instruments used in the Financial Market
Describes the Security Market and Emerging Trends, methods of issuing securities (Public
issue through prospectus, offer for sale, private placement, offer through book-building process
Understand the working of the primary market, methods of issuing securities in primary market
Explains the process of Initial Public Offer (IPO), method of applying IPO, allotment of shares
in IPO sales
Understand the working of the secondary market, listing and delisting of securities
Understand the distribution of Capital/Shares in an organization
Understand the procedure of Portfolio Management, need and benefits of diversification
Explain the various Debt instruments issued in the financial market and its features
Describes the issue of Bonds and Debentures under primary and secondary market
Explains the characteristics and features of derivatives
Understand the functioning of the various types of financial derivatives such as forwards,
futures, options and swaps
Explains the need and principles of Hedging
Describes the need of a depository, services offered by a depository and the constituents of the
depository system
Explains the concept and need for Dematerialisation and Rematerialisation
Understand the benefits of investing in mutual funds, procedure of setting-up a mutual fund,
types of mutual funds and the performance evaluation of mutual funds
Understanding the different types of stock exchange, explains the trading system of NSE
(NEAT )
Describes the drawback of not trading on a recognized stock exchange
Explains the concept of foreign capital issuance and explains the functioning of ADR, ADS and
GDR
Explains the guidelines issued by SEBI to for Investors Protection, the procedure to resolve the
investors grievance and educating the investor about its rights and responsibilities
Understand the various compounding techniques to evaluate present and future value of
money
Explains the procedure of evaluating financial accounting ratios such as liquidity ratios, leverage
ratios, profitability ratios and market value ratios.

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Sample QuestionsSample QuestionsSample QuestionsSample Questions
1.1.1.1. Which of the following statements is not true?Which of the following statements is not true?Which of the following statements is not true?Which of the following statements is not true?
A. The auditor’s responsibility for detection and prevention of errors and frauds is similar.
B. Management fraud is more difficult to detect than employee fraud
C. Internal control system reduces the possibility of occurrence of employee fraud and
management fraud
D. All the statements are correct
2. ‘Goods sent on approval bas2. ‘Goods sent on approval bas2. ‘Goods sent on approval bas2. ‘Goods sent on approval basis’ have been recorded as ‘Credit sales’. Which Typeis’ have been recorded as ‘Credit sales’. Which Typeis’ have been recorded as ‘Credit sales’. Which Typeis’ have been recorded as ‘Credit sales’. Which Type
of an error is it?of an error is it?of an error is it?of an error is it?
A. Error of Omission
B. Error of Commission
C. Error of Principle
D. Compensating Error
3. Cost of material consumed under LIFO costing method is Rs3. Cost of material consumed under LIFO costing method is Rs3. Cost of material consumed under LIFO costing method is Rs3. Cost of material consumed under LIFO costing method is Rs.6,000. Conversion.6,000. Conversion.6,000. Conversion.6,000. Conversion
Cost is Rs.Cost is Rs.Cost is Rs.Cost is Rs.16, 5016, 5016, 5016, 500. 1,000 units of the product were manu0. 1,000 units of the product were manu0. 1,000 units of the product were manu0. 1,000 units of the product were manufactured out of which 800factured out of which 800factured out of which 800factured out of which 800
@ Rs.@ Rs.@ Rs.@ Rs.30 units sold. There were no beginning and ending inventories of work in30 units sold. There were no beginning and ending inventories of work in30 units sold. There were no beginning and ending inventories of work in30 units sold. There were no beginning and ending inventories of work in
process and finished goods. Theprocess and finished goods. Theprocess and finished goods. Theprocess and finished goods. Thennnn per unit cost is:per unit cost is:per unit cost is:per unit cost is:
A. Rs.10
B. Rs.16.50
C. Rs.22.50
D. Rs.28.50
4. Deduction unde4. Deduction unde4. Deduction unde4. Deduction under section 80D in respect of medical insurance premium isr section 80D in respect of medical insurance premium isr section 80D in respect of medical insurance premium isr section 80D in respect of medical insurance premium is
allowed to:allowed to:allowed to:allowed to:
A. Any assessee
B. An individual or HUF
C. Individual or HUF who is resident in India d) Individual only
D. None of the above
5. The future value of a Rs.12, 000 investment made today, wh5. The future value of a Rs.12, 000 investment made today, wh5. The future value of a Rs.12, 000 investment made today, wh5. The future value of a Rs.12, 000 investment made today, which gives an annualich gives an annualich gives an annualich gives an annual
rate of return of 10% per annum, after one year should be _________.rate of return of 10% per annum, after one year should be _________.rate of return of 10% per annum, after one year should be _________.rate of return of 10% per annum, after one year should be _________.
A. Rs.13,250
B. Rs.13,200
C. Rs.12,900
D. Rs.12,600
Answers:Answers:Answers:Answers: 1 (C), 2 (C), 3 (C), 4 (B), 5 (B)1 (C), 2 (C), 3 (C), 4 (B), 5 (B)1 (C), 2 (C), 3 (C), 4 (B), 5 (B)1 (C), 2 (C), 3 (C), 4 (B), 5 (B)