The Union Public Service Commission (UPSC) has recently revised the Indian Civil Accounts Service (ICAS) syllabus for its 2021 examination. The ICAS is a promising career option for those who wish to work in the government’s financial services sector. It is an examination conducted by the UPSC.
The new ICAS syllabus is designed to assess the candidate’s knowledge and skills relevant to the accounting, audit, and financial management domains. Therefore, the syllabus comprises four papers, each with different concepts and topics that the candidates need to prepare for.
Paper-I – Accounting and Finance
Accounting and Finance is the first paper of the ICAS syllabus. It covers topics such as the principles and practice of accounting, accounting standards, and financial statement analysis. Candidates are expected to have a thorough understanding of the Indian accounting system and the regulatory framework governing it.
Paper-II – Audit and Assurance
The Audit and Assurance paper deals with risk management, audit planning and procedures, and audit reporting. Candidates are expected to learn the principles and procedures of an audit, the different types of audits, and the role of an auditor in planning and conducting audit assignments.
Paper-III – Financial Management
The Financial Management paper assesses the candidate’s knowledge of financial management principles, capital budgeting, and investment decisions, working capital management, and risk management. Candidates should have a sound understanding of the financial markets, banking operations, and international financial institutions.
Paper-IV – Management Information Systems (MIS)
MIS is the final paper in the syllabus that covers topics such as database management, system analysis and design, and data communication and networking. It evaluates the candidate’s knowledge of the design and development of information systems, data mining, and data analysis.
