Monday 27 February 2017

CS Foundation Exam FINANCIAL ACCOUNTING AND AUDITING

Accounting is defined as an art of Recording, Classifying summarizing transaction and events which are of financial in nature in terms of money and to provide results thereof. So in accounting we record in Journal, Classify in Legder and summerise in Trail Balance, Income Statement and Position Statement. Accounting is language of business and for a Company Secretary it is very important to understand this language. On the other hand Auditing is process to check the correctness and reliability of accounting information.

ICSI conducts exam of FINANCIAL ACCOUNTING AND AUDITING so that CS foundation students become proficient with accounting system and methods. CS Foundation exam of Financial Accounting and Auditing is conducted in MCQ pattern and CS foundation Students must score 40% in this computer based mcq test so that they can pass CS foundation. Keeping this in mind team of www.mcqtestonline.com has created website that helps students to practice mcq test for cs foundation chapter wise. www.mcqtestonline.com works as an online scanner where students can practice again and again for their CS foundation and CS Executive Exam in mcq pattern.

Accounting 

Auditing





Friday 24 February 2017

CS Foundation Exam - BUSINESS ENVIRONMENT AND ENTREPRENEURSHIP

ICSI has designed the syllabus of Business Environment And Entrepreneurship to make CS foundation students aware of latest trends that have emerged in business environment, laws that are applicable while making business transaction. This exam is conducted by objective question pattern on computers. There is no negative marking.

Students should practice mcq test online or offline in time bound manner so that they can get good marks in their exams. www.mcqtestonline.com is a platform where students can practice CS foundation and CS executive test online and get result immediatly. 

INTRODUCTION
Exam is divided into Three parts
PART A: BUSINESS ENVIRONMENT                                (30%)
PART B: BUSINESS LAWS                                                (40%)
PART C: ENTREPRENEURSHIP                                        (30%)

PART A: BUSINESS ENVIRONMENT






PART B: BUSINESS LAWS







PART C: ENTREPRENEURSHIP










Introduction to Company Secretary

WHO IS A COMPANY SECRETARY?
Company Secretary is a Legal expert certified by ICSI (Institute of Company Secretaries of India) to provide legal services to companies/firm/individuals in matters regarding
·         Registration of a Company/LLP/OPC
·         Legal compliance of a Company
·         Labor laws
·         FEMA
·         VAT
·         Service Tax

WHAT IS ICSI
As ICAI regulates the profession of CA similarly ICSI is a  recognized professional body in India to develop and regulate the profession of Company Secretaries in India.

Membership of The Institute of Company Secretaries of India(ICSI) has been recognized for appointment to various superior posts and services under the Central Government.

WHAT IS THE ROLE OF COMPANY SECRETARY?
Rule 10 of companies (Appointment and Remuneration of Managerial Personnel) Rules 2014
The duties of Company Secretary shall also discharge, the following duties, namely:-
(1) to provide to the directors of the company, collectively and individually, such guidance as they may require, with regard to their duties, responsibilities and powers;
(2) to facilitate the convening of meetings and attend Board, committee and general meetings and maintain the minutes of these meetings;
(3) to obtain approvals from the Board, general meeting, the government and such other authorities as required under the provisions of the Act;
(4) to represent before various regulators, and other authorities under the Act in connection with discharge of various duties under the Act;
(5) to assist the Board in the conduct of the affairs of the company;
(6) to assist and advise the Board in ensuring good corporate governance and in complying with the corporate governance requirements and best practices; and
(7) to discharge such other duties as have been specified under the Act or rules; and
(8) such other duties as may be assigned by the Board from time to time.

IS IT TRUE THAT SCOPE OF COMPANY SECRETARIES HAS REDUCED RECENTLY?
Though Companies Amendment Act 2013 has done away with requirements of compliance certificate for small companies and secretarial audit is now mandatory only for big companies. 

However a Company secretary has so many other laws due to which his demand and need for small companies will never fade away. These include FEMA, SEBI, Labour Laws, Service Tax, VAT.

Other than this section 2(51) of the Companies Act 2013 has recognized Company Secretary as Key Managerial Person (KMP).  Companies act 2013 Section 2(51) now defines as Key Managerial Person (KMP) as

        i.            The chief executive officer of the managing director of the manager
      ii.            The company secretary
    iii.            The whole time director
    iv.            The chief financial officer, and
      v.            Such other officer as may be prescribed.

Every listed company and every other public company having a paid up share capital of ten crore or more shall have whole time key managerial personnel.

As per rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, every listed company and every other public company having a paid-up share capital of 10 crore rupees or more shall have whole-time key managerial personnel.

As per rule 8A, a company other than a company covered under rule 8 that is unlisted companies which may be private or public  which has a paid up share capital of 5 crore rupees or more shall have a whole-time company secretary. 

WHAT IS THE PROCESS OF BECOMING COMPANY SECRETARY
The student who would like to join the Course after 10+2 pass or equivalent has to undergo three stages to pursue the Company Secretaries Course i.e. 

Foundation Programme can be pursued by 10+2 pass or equivalent students of Arts, Science or Commerce stream (Excluding Fine Arts)


Students who have appeared for 10+2 exams and are waiting for their result may also apply for provisional admission. They can submit proof of passing +2 within 6 months from the date of registration.

Sunday 28 August 2016

Introduction to mcqtestonline.com



MCQTESTONLINE.COM is created with aim to assist students preparing for various professional and entrance exams based on mcq pattern. A student needs to register to start practicing on mcqtestonline.com. Once a student is registered he becomes a free user and practice 5 questions from each chapter and previous year question paper and see his result for the same.

Students who want practice all the question need to pay a very nominal fee. Student may choose to pay for all the subjects or pay for any one subject depending on the need and preference. Along with all the questions from the subject paid for student can also practice previous year question paper as well.

A complete record of all the mcq test, mock test, and previous year question papers is maintained on mcqtestonline.com in student’s profile.  This helps students to track their preparation and evaluate their performance.

When a student’s buys a scanner from the market and marks the answers while practicing he is unable to practice again the same question honestly as the answers are already being marked by him. However on mcqtestonline.com student can practice again and again and then compare the same with his previous test.
So mcqtestonline.com is the best way to practice and evaluate your preparation