CSFC Accounts, Economics, Laws Complete Video Lectures from Ideal Classes consists of top quality video lectures of around 75 hours duration on each topic. The full eCourse Package along with the required software is delivered on a 16 GB pen drive or SDCard. The eCourse is suitable for consumption on Windows PC/Laptop or Android Tablet/Smartphones.
1. Accounting - meaning, nature, functions and usefulness; types of accounting;
accounting equation; generally accepted accounting concepts, principles and
conventions; double entry system.
2. Recording of transactions - preparation of ledger accounts, subsidiary books,
recording of cash and bank transactions, preparation of trial balance; voucher
3. Preparation of bank reconciliation statement.
4. Rectification of errors.
5. Preparation of final accounts (non-corporate entities) - capital and revenue items,
manufacturing, trading and profit and loss account, balance sheet, adjustment
entries, closing entries.
6. Accounting for depreciation - need for and significance of depreciation, methods of
7. Inventory valuation – significance, inventory system, methods of inventory
8. Accounting for bills of exchange - bills receivable and payable, acceptance,
endorsement, discounting, retirement, dishonour and renewal of bills,
9. Accounts of non-profit organisations - receipts and payments and income and
expenditure accounts and balance sheet; accounts of professionals.
10. Single entry system - preparation of accounts from incomplete records.
11. Average due date and account current.
12. Control accounts – self-balancing and sectional balancing ledgers.
13. Accounting for consignments and joint ventures.
14. Branch and departmental accounts, inter-departmental transfers.
15. Partnership accounts:
(i) Fundamentals - capital, fixed and fluctuating; adjustments for change in profit
sharing ratios; revaluation of assets and liabilities; goodwill; joint-life policy.
(ii) Reconstitution of the firm - admission, retirement and death of a partner;
(iii) Dissolution of partnership including piece-meal distribution; sale to a company.
16. Accounting for hire purchase and instalment systems.
17. Basic principles relating to lease accounting.
18. Insurance claims - claims under fire insurance policies, claims for loss of stock;
claims for loss of profit.
1. Nature and Scope of Economics
Definition, nature and scope of economics; micro and macro economics; positive and
normative economics; working of economic systems with special reference to the
capitalistic, socialistic and the mixed economies.
2. Demand Analysis
Utility analysis - total utility and marginal utility; law of diminishing marginal
utility; law of equi-marginal utility; indifference curves - meaning, properties, marginal
rate of substitution; consumers’ equilibrium; law of demand; elasticity of demand.
3. Production, Costs and Revenue Analysis
Laws of returns; returns to scale; costs and revenue concepts and their relationship
with output; economies and diseconomies of scale.
4. Equilibrium of the Firm and Industry
Price and output determination under perfect competition, monopoly and
5. National Income
Concept, significance and measurement of national income.
6. Money and Credit
Concept of money and credit; the Quantity theory of money; the supply of money;
credit creation by bank; functions of central banking and its instruments of credit control.
7. Theory of Employment and Income Determination
Framework of Keynesian theory of income and employment, consumption function,
investment function and their determinants, investment multiplier; determination of level
of income and employment; Keynesian theory with reference to developing economies.
8. Inflation and Deflation
Concept and features of inflation, demand pull and cost push inflation; measures to
control inflation; deflation and measures to control it; stagflation.
9. International Trade and Balance of Payments
Theory of comparative cost advantage, terms of trade and their determinants, concept
of rate of exchange; balance of trade and balance of payments and their relationship,
measures against balance of payments disequilibrium.
ELEMENTS OF BUSINESS LAWS (50 MARKS)
Meaning of law, its significance and relevance to modern civilized society; sources of
2. Law relating to Contract – An Overview
Contract - meaning; essentials of a valid contract; nature of contract; performance of
contract; termination and discharge of contract; indemnity and guarantee; bailment and
pledge; law of agency.
3. Law relating to Sale of Goods – An Overview
Essentials of a contract of sales; sale distinguished from agreement to sell, bailment,
contract for work and labour and hire-purchase; conditions and warranties; transfer of
title by non-owners; doctrine of caveat emptor; performance of the contract of sale;
unpaid seller - his rights against the goods and the buyer.
4. Law relating to Negotiable Instruments – An Overview
Definition of a negotiable instrument; instruments negotiable by law and by custom;
types of negotiable instruments; parties to a negotiable instrument - duties, rights,
liabilities and discharge; material alteration; crossing of cheques; payment and collection
of cheques and demand drafts; presumption of law as to negotiable instruments.
5. Law relating to Partnership – An Overview
Nature of partnership and certain similar organisations-co-ownership, Joint Hindu
Family; partnership deed; rights and liabilities of partners including those of newly
admitted partners, retiring and deceased partners; implied authority of partners and its
scope; registration of firms; dissolution of firms and of the partnership.
6. Elements of Company Law
Meaning and nature of company; promotion and incorporation of a company;
familiarisation with the concept of Board of directors, shareholders and company
meetings; Company Secretary.
Prof. Satish Shinde
Prof. Satish Shinde is a faculty of Economics at Ideal Classes
Ideal Classes, Mumbai
Founded by Prof. Jagdish Walavalkar, IDEAL began as a modest classroom coaching institute 25 years ago. Today, IDEAL educates thousands of students across India. It moulds over 12,500 students every year via satellite, online and distance learning; along with classroom coaching. It has always championed the cause of quality education. Its courses are delivered across 6 streams and 29 courses. IDEAL has always believed in dedication. Precisely what its 200+ expert teachers give every student across its 167 classrooms, every day. Pioneering education has always been IDEAL's aim. IDEAL was the first institute to receive ISO 9001 certification, first institute to have an independent teachers training program. It is the only coaching institute to have a dedicated in house placement service for its students. But there are greater milestones to be covered on the road to refined learning. IDEAL has an advanced coaching system that will revolutionise teaching, and change the way students learn. In the coming years, students across all streams of education will be able to experience this refined system.IDEAL empowers students to soar high and aim higher everytime.
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