Latest Syllabus of NTA UGC NET JRF SET Commerce Paper 2
UNIT 1 Business Environment and International Business
- Concepts and elements of the 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)
- Scope and importance of international business; globalization and its drivers: Modes of entry into international business
- Theories of international trade, government intervention in international trade; Tariff and non-tariff barriers: India's foreign trade policy
- 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
- Balance of payments (BOP): Importance and components of BOP
- Regional Economic Integration: Levels of Regional Economic Integration; Trade creation and diversion effects; Regional Trade Agreements: European Union (EU), ASEAN, SAARC, NAFTA
- International Economic Institutions: IMF, World Bank, UNCTAD
- World Trade Organization (WTO): Functions and objectives of WTO, Agriculture Agreement: GATS, TRIPS, and TRIMS
UNIT 2 Accounting and Auditing
- Basic accounting principles, concepts, and postulates
- Partnership Accounts: Admission, Retirement, Death, Dissolution, and Insolvency of Partnership Firms
- Corporate Accounting: Issue, forfeiture, and reissue of shares: Liquidation of companies: Acquisition, merger, amalgamation, and reconstruction of companies
- Holding company accounts
- 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
- Financial Statement Analysis: Ratio analysis; Funds flow analysis; Cash flow analysis
- Human Resources Accounting: Inflation Accounting: Environmental Accounting
- Indian Accounting Standards and IFRS
- Auditing: Independent financial audit; Vouching: Verification and valuation of assets and liabilities;
- Audit of financial statements and audit report: Cost audit
- Recent Trends in Auditing: Management audit; Energy audit; Environment audit; Systems audit; Safety audit
UNIT 3 Business Economics
- Meaning and scope of business economics
- Objectives of business firms
- Demand analysis: Law of demand, elasticity of demand and its measurement, Relationship between AR and MIR
- Consumer behavior: Utility analysis, indifference curve analysis
- Law of Variable Proportions: Law of Returns to Scale
- Theory of cost: Short-run and long-run cost curves
- Price determination under different market forms: Perfect competition: Monopolistic competition,
- Oligopoly price leadership model, monopoly: price discrimination
- Pricing strategies: Price skimming Price penetration, peak load pricing
UNIT 4 Business Finance
- Scope and sources of finance, lease financing
- Cost of capital and time value of money
- Capital structure
- Capital budgeting decisions: Conventional and scientific techniques of capital budgeting analysis
- Working capital management, dividend decision: theories and policies
- Risk and return analysis; asset securitization
- International monetary system
- Foreign exchange market: Exchange rate risk and hedging techniques
- International financial markets and instruments: Euro currency; GDRs; ADRs
- International arbitrage; multinational capital budgeting
UNIT 5 Business Statistics and Research Methods
- Measures of central tendency
- Measures of dispersion
- Measures of skewness
- Correlation and regression of two variables
- Probability: Approaches to probability; Bayes' theorem
- Probability distributions: binomial, Poisson, and normal distributions
- Research: Concept and types: Research designs
- Data: Collection and classification of data
- Sampling and estimation: Concepts: Methods of sampling—probability and non-probability methods: Sampling distribution; Central limit theorem; Standard error; Statistical estimation
- Hypothesis testing: z-test, t-test, ANOVA, Chi-square test, Mann-Whitney test (U-test), Kruskal-Wallis test (H-test), Rank correlation test
- Report writing
UNIT 6 Business Management and Human Resource Management
- Principles and functions of management
- Organization structure: Formal and informal organizations: Span of control
- Responsibility and authority: Delegation of authority and decentralization
- Motivation and leadership: Concept and theories
- Corporate governance and business ethics
- Human resource management: Concept, role, and functions of HRM; Human resource planning: Recruitment and selection: Training and development: Succession planning
- Compensation management: Job evaluation; incentives and fringe benefits
- Performance appraisal, including 360-degree performance appraisal
- Collective bargaining and workers' participation in management
- Personality: Perception: Attitudes, Emotions; Group dynamics; Power and politics; Conflict and negotiation: Stress management
- Organizational Culture: Organizational development and organizational change
UNIT 7 Banking and Financial Institutions
- Overview of the Indian financial system
- Types of banks: Commercial banks, Regional Rural Banks (RRBs), Foreign banks, and Cooperative banks
- Reserve Bank of India: Functions, role, and monetary policy management
- Banking sector reforms in India: Basel norms, risk management, NPA management
- Financial markets: Money market; Capital market: Government securities market
- Financial Institutions: Development Finance Institutions (DFIs); Non-Banking Financial Companies (NBFCs); Mutual Funds; Pension Funds
- Financial Regulators in India
- Financial sector reforms, including financial inclusion
- Digitization of banking and other financial services: Internet banking, mobile banking, and digital payment systems
- Insurance: Types of insurance—life and non-life insurance; risk classification and management; factors limiting the insurability of risk; Reinsurance; Regulatory framework of insurance—IRDA and its role
UNIT 8 Marketing Management
- Marketing: Concept and approaches; marketing channels; marketing mix; strategic marketing planning; market segmentation, targeting, and positioning
- Product decisions: Concept; product line; product mix decisions; product life cycle; new product development
- Pricing decisions: Factors affecting price determination; pricing policies and strategies
- Promotion decisions: Role of promotion in marketing; Promotion methods—Advertising, personal selling, publicity, sales promotion tools and techniques, and promotion mix
- Distribution decisions: Channels of distribution; channel management
- Consumer Behavior: Consumer buying process, factors influencing consumer buying decisions
- Service marketing
- Trends in marketing: Social marketing: Online marketing: Green marketing: Direct marketing: Rural marketing: CRM
- Logistics management
UNIT 9 Legal Aspects of Business
- 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
- Special contracts: Contracts of indemnity and guarantee, contracts of bailment and pledge, and contracts of agency
- Sale of Goods Act, 1930: Sale and agreement to sell; Doctrine of Caveat Emptor; Rights of unpaid seller and rights of buyer
- Negotiable Instruments Act, 1881: Types of negotiable instruments: Negotiation and assignment: Dishonor and discharge of negotiable instruments
- The Companies Act, 2013: Nature and kinds of companies: Company formation; management, meetings, and winding up of a joint stock company
- Limited Liability Partnership: Structure and procedure of formation of LLP in India
- The Competition Act, 2002: Objectives and main provisions
- The Information Technology Act, 2000: Objectives and main provisions; cybercrimes and penalties
- The RTI Act, 2005: Objectives and main provisions
- Intellectual Property Rights (IPRs): Patents, trademarks, and copyrights; emerging issues in intellectual property
- 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
- 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
- International Taxation: Double taxation and its avoidance mechanism; transfer pricing
- 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
- Deduction and collection of tax at source; advance payment of tax; E-filing of income-tax returns
