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UNIVERSITY GRANTS COMMISSION, NET BUREAU, NET SYLLABUS, , Subject: Commerce, , Code No. : 08, , 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, , , , , , Concepts and elements of business environment: Economic environment- Economic, systems, Economic policies(Monetary and fiscal policies); Political environmentRole 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, , 1

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, , , , , , , , 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 Organisation (WTO): Functions and objectives of WTO; Agriculture, Agreement; GATS; TRIPS; 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 Statements 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 ad 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 MR, Consumer behavior: Utility analysis; Indifference curve analysis, Law of Variable Proportions: Law of Returns to Scale, , 2

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, , , , 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 nonprobability methods; Sampling distribution; Central limit theorem; Standard error;, Statistical estimation, Hypothesis testing: z-test; t-test; ANOVA; Chi–square test; Mann-Whitney test (Utest); Kruskal-Wallis test (H-test); Rank correlation test, Report writing, , Unit 6: Business Management and Human Resource Management, , , Principles and functions of management, , 3

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, , , , , , , , , , , 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 Indian financial system, Types of banks: Commercial banks; Regional Rural Banks (RRBs); Foreign banks;, 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, Digitisation of banking and other financial services: Internet banking; mobile, banking; Digital payments systems, 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, , , , , 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, , 4

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, , , , , , , , Promotion decisions: Role of promotion in marketing; Promotion methods Advertising; Personal selling; Publicity; Sales promotion tools and techniques;, Promotion mix, Distribution decisions: Channels of distribution; Channel management, Consumer Behaviour; 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; 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; Dishonour 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; Cyber, crimes 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, , 5

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, , , , 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, , 6