Society, Management and Accounting
391 key terms for this subject — each defined in plain language, with where it helps in the exam and a link to the study note it comes from.
- Absolute Poverty
Unable to meet basic survival needs; fixed monetary threshold
Read the study note →- Active Ageing
WHO framework: health, participation, security for older persons
Read the study note →- Adharma
Violation of Dharma — injustice, unrighteousness, moral disorder
Read the study note →- Agami Karma
Karma being created by present actions and intentions
Read the study note →- AMRUT
Atal Mission for Rejuvenation and Urban Transformation (2015/2021)
Read the study note →- Anatman
Buddhist teaching: no permanent self — karma flows through consciousness stream
Read the study note →- Arranged Marriage
Family-arranged marriage; 93% of Indian marriages (IHDS)
Where it helps Marriage in India
Read the study note →- Artha
Wealth, material prosperity, political power — second Purushartha
Where it helps Arthashastra link
Read the study note →- Ashrama
Stage of life: Brahmacharya, Grihastha, Vanaprastha, Sannyasa
Read the study note →- Atman
Individual soul — unchanging, eternal essence; realises identity with Brahman at moksha
Where it helps Hindu metaphysics
Read the study note →- Bourgeoisie
Capitalist class owning means of production (Marx)
Where it helps Class conflict theory
Read the study note →- Brahmacharya
First ashrama — studentship, celibacy, study under guru (0–25 years)
Read the study note →- Bribery
Payment to secure an illegal benefit from an official
Where it helps Corruption forms
Read the study note →- Caste
System of social stratification based on birth, ritual purity, and occupation
Read the study note →- CERT-In
Indian Computer Emergency Response Team — national cyber security agency (2004)
Read the study note →- Cetana
Buddhist term: intentional mental volition — the Buddhist definition of karma
Read the study note →- Commensality
Rules restricting food sharing between castes — defines social boundaries
Where it helps Caste characteristics
Read the study note →- Communalism
Political mobilisation of religious identity leading to inter-group conflict
Where it helps Challenge to secularism
Read the study note →- Corruption
Abuse of entrusted power for private gain
Where it helps Corruption definition
Read the study note →- CPI (Corruption Perceptions Index)
Annual ranking by Transparency International (0–100; higher = less corrupt)
Read the study note →- Creamy Layer
Upper economic strata of OBC/SC/ST excluded from reservation benefit
Where it helps Indra Sawhney 1992
Read the study note →- Cultural Hybridisation
Local and global cultures blend to create new hybrid forms (Hinglish, fusion music)
Where it helps Globalisation debate
Read the study note →- Culture of Poverty
Oscar Lewis' theory — poor develop fatalism/low aspirations perpetuating poverty
Read the study note →- Cyber Crime
Criminal activity involving computers, networks, or internet
Read the study note →- Dalit
Political identity of formerly "untouchable" castes; championed by Ambedkar
Read the study note →- Dharma
Righteous duty, cosmic order, moral conduct — from *dhri* (to sustain)
Read the study note →- Disenchantment
Weber's *Entzauberung* — loss of magic and religion as world is explained scientifically
Where it helps Secularisation theory
Read the study note →- Disguised Unemployment
More workers than needed; marginal productivity ≈ zero; common in agriculture
Where it helps Unemployment types
Read the study note →- Disjuncture
Appadurai: five global scapes flow at different speeds and in different directions
Where it helps Appadurai's key insight
Read the study note →- Dominant Caste
Caste with numerical, economic, political, and ritual dominance (Srinivas 1959)
Read the study note →- Dowry Death
Unnatural death of wife within 7 years of marriage linked to dowry harassment (IPC 304B)
Where it helps IPC 304B question
Read the study note →- Dowry
Gifts/property given by bride's family to groom; banned by Dowry Prohibition Act 1961
Where it helps Marriage problem
Read the study note →- DPDP Act
Digital Personal Data Protection Act, 2023 — consent-based data protection
Read the study note →- Drug Addiction
Compulsive drug-seeking despite harm; chronic brain disease (WHO/ICD-11)
Read the study note →- DV Act
Protection of Women from Domestic Violence Act, 2005
Read the study note →- Elder Abuse
Physical, emotional, financial exploitation of older persons; 20% face it (NITI 2020)
Read the study note →- Elderly
Persons aged 60+ years; 138 million in India (2021)
Read the study note →- Endogamy
Marriage within one's own caste/social group — key feature of caste system
Where it helps Caste definition
Read the study note →- Ethnoscapes
Appadurai: global flows of people — migrants, tourists, refugees
Read the study note →- EWS
Economically Weaker Sections; 10% reservation via 103rd Amendment (2019)
Read the study note →- Fake News
False or misleading information spread rapidly through social media and messaging apps
Where it helps Social media harm
Read the study note →- FDI
Foreign Direct Investment — cross-border capital for production; India: $83.6 bn (2021–22)
Where it helps Globalisation data
Read the study note →- Femicide
Killing of women based on gender — includes dowry deaths, honour killings
Read the study note →- Financescapes
Appadurai: rapid global movement of financial capital across borders
Read the study note →- Global Village
McLuhan 1962 — electronic media make world a single interconnected community
Read the study note →- Globalisation
Intensification of worldwide economic, social, cultural, and political interconnections
Read the study note →- Graded Inequality
Ambedkar's term: each caste has someone above and below, all complicit in system
Where it helps Annihilation of Caste
Read the study note →- Grihastha
Second ashrama — householder stage (25–50); family, earning, Pancha Mahayajnas
Read the study note →- Horizontal Mobility
Movement between positions of equal rank
Read the study note →- Human Trafficking
Recruitment/transportation of persons by force or deception for exploitation
Where it helps Trafficking context
Read the study note →- Hypergamy
Practice of women marrying into higher social/economic status — drives dowry
Read the study note →- Ideoscapes
Appadurai: global flows of political ideologies (democracy, human rights)
Read the study note →- IT Act 2000
Information Technology Act — India's primary cyber law (amended 2008)
Read the study note →- ITPA
Immoral Traffic (Prevention) Act, 1956 — governs prostitution (brothels banned)
Where it helps Prostitution law
Read the study note →- Jajmani System
Traditional patron-client interdependence between caste groups in villages
Where it helps Pre-industrial caste economy
Read the study note →- Jati
Endogamous, hereditary, birth-based caste group (~3,000 in India)
Where it helps Core caste concept
Read the study note →- Joint Family
Multi-generational family sharing residence and resources; declining in India
Read the study note →- Kama
Desire, pleasure, love — third Purushartha (Kamasutra)
Where it helps Purushartha system
Read the study note →- Karma Yoga
Path to liberation through selfless action (one of Gita's three Yogas)
Where it helps Gita application
Read the study note →- Karma
Law of moral causation — intentional action produces corresponding consequences
Read the study note →- Khula
Divorce initiated by a Muslim wife
Where it helps Muslim divorce types
Read the study note →- Laïcité
French model: strict separation of state and religion (church-state wall)
Where it helps Indian vs. Western comparison
Read the study note →- Lokayukta
State-level ombudsman; Rajasthan — first in India (1973)
Read the study note →- Lokpal
National-level anti-corruption ombudsman (established 2013)
Where it helps Institutional framework
Read the study note →- LPG Reforms
Liberalisation, Privatisation, Globalisation — India's 1991 economic reform package
Where it helps India globalisation context
Read the study note →- Maintenance Act
Maintenance and Welfare of Parents and Senior Citizens Act 2007 (amended 2019)
Read the study note →- McDonaldisation
Ritzer: global spread of fast-food rationality — efficiency, calculability, predictability, control
Where it helps Cultural globalisation
Read the study note →- Mediascapes
Appadurai: global flows of media images and narratives
Read the study note →- Mega-city
City with population exceeding 10 million
Where it helps India has Delhi, Mumbai
Read the study note →- MGNREGS
Mahatma Gandhi National Rural Employment Guarantee Scheme; 100 days guaranteed work
Where it helps Employment scheme
Read the study note →- Modernisation
Multi-faceted transformation of traditional society through industrialisation and rationalisation
Read the study note →- Moksha
Liberation from samsara; union of Atman with Brahman; fourth Purushartha
Read the study note →- Multidimensional Poverty
Poverty measured across health, education, living standards (MPI)
Where it helps NITI Aayog report
Read the study note →- Multiple Modernities
Eisenstadt's thesis: different societies modernise through different cultural paths
Where it helps Counter to Eurocentric view
Read the study note →- NDPS Act
Narcotic Drugs and Psychotropic Substances Act, 1985 — primary drug control law
Read the study note →- Nepotism
Favouring relatives in appointments/decisions
Where it helps Corruption forms
Read the study note →- Nishkama Karma
Desireless action — performing duty without attachment to results (Gita 2.47)
Where it helps Highest priority
Read the study note →- Nuclear Family
Household of couple + unmarried children; 54.4% of Indian households (2011)
Where it helps Family structure
Read the study note →- OBC
Other Backward Classes; 3,743 castes; 27% reservation per Mandal Commission
Read the study note →- Pancha Mahayajnas
Five duties of the Grihastha: Brahma, Pitru, Deva, Bhuta, Manushya Yajna
Where it helps Grihastha duties
Read the study note →- PCMA
Prohibition of Child Marriage Act, 2006 — girls 18, boys 21 minimum age
Where it helps Child marriage law
Read the study note →- Phishing
Fake websites/emails designed to steal user credentials or financial information
Where it helps Cyber crime type
Read the study note →- PLFS
Periodic Labour Force Survey — India's official employment measurement
Where it helps Unemployment data
Read the study note →- POCSO
Protection of Children from Sexual Offences Act, 2012
Where it helps Child protection
Read the study note →- Prarabdha Karma
Ripened karma from past lives determining present circumstances
Read the study note →- Proletariat
Working class selling labour for wages (Marx)
Where it helps Class conflict theory
Read the study note →- Purity-Pollution
Dumont's basis of caste hierarchy: ritual purity determines rank
Where it helps Homo Hierarchicus
Read the study note →- Purushartha
The four goals of human life: Dharma, Artha, Kama, Moksha
Read the study note →- PwD
Persons with Disabilities; 2.68 crore = 2.21% population (Census 2011)
Read the study note →- Ransomware
Malware that encrypts victim's data and demands payment for decryption
Where it helps Cyber crime type
Read the study note →- Rationalisation
Weber: replacement of tradition/religion with reason, rules, efficiency in modern society
Where it helps Modernisation theory
Read the study note →- Reservation
State policy of setting aside seats for SC/ST/OBC/EWS in education and employment
Where it helps Constitutional policy
Read the study note →- RPwD Act
Rights of Persons with Disabilities Act, 2016 — 21 types; 4% reservation
Read the study note →- Sadharana Dharma
Universal duties for all humans: truth, non-violence, purity, non-theft
Where it helps Universal ethics
Read the study note →- Samsara
Cycle of death and rebirth driven by karma
Where it helps Karma-liberation link
Read the study note →- Sanchita Karma
Accumulated store of karma from all past lives
Read the study note →- Sannyasa
Fourth ashrama — complete renunciation (75+); wandering ascetic; moksha focus
Read the study note →- Sanskritisation
Lower caste adoption of upper caste practices for upward mobility (Srinivas 1952)
Where it helps PYQ — high priority
Read the study note →- Sarva Dharma Sambhav
Indian principle: equal respect and treatment for all religions by the state
Where it helps Indian secularism
Read the study note →- Secularisation
Process by which religion loses influence over social institutions and public life
Read the study note →- Segmental Division
Division of society into clearly defined, separated groups (Ghurye/Dumont)
Read the study note →- Sharda Act
1929 — India's first child marriage restraint law (girls 14, boys 18)
Read the study note →- Slum
Overcrowded, underserviced informal urban settlement; 65.5 mn in India (2011)
Where it helps Urbanisation problem
Read the study note →- Social Class
Open group defined by economic position: income, wealth, occupation
Where it helps Marx/Weber basis
Read the study note →- Social Media
Digital platforms for user-generated content and social interaction
Where it helps New social phenomenon
Read the study note →- Social Mobility
Movement of individuals or groups between social positions
Where it helps Class vs. caste comparison
Read the study note →- Social Stratification
Hierarchical arrangement of society into layers based on wealth, power, prestige
Read the study note →- Special Marriage Act
1954 — civil marriage without caste/religion requirement
Where it helps Inter-faith/caste marriage
Read the study note →- Stridhan
Property belonging exclusively to a woman (original concept)
Where it helps Historical context
Read the study note →- Svadharma
One's own specific duty based on nature and position (Gita 3.35)
Read the study note →- Tendulkar Line
Consumption-based poverty line (2009); current official methodology
Where it helps Poverty measurement
Read the study note →- Triple Talaq
Instant divorce by Muslim husband — criminalised 2019
Where it helps Divorce question
Read the study note →- UDID Card
Unique Disability ID — digital identification for PwD to access benefits
Read the study note →- UNCRPD
UN Convention on Rights of Persons with Disabilities (2006); India ratified 2007
Where it helps International law
Read the study note →- Unemployment Rate (UR)
Percentage of labour force that is unemployed and actively seeking work
Read the study note →- Untouchability
Ritual exclusion of lowest castes; abolished by Art. 17 of Indian Constitution
Where it helps Constitutional provision
Read the study note →- Urbanisation
Process of population shift from rural to urban areas and transformation of settlements
Where it helps Demographic change
Read the study note →- Vanaprastha
Third ashrama — gradual retirement (50–75); forest-going; spiritual focus
Read the study note →- Varna
Fourfold Vedic classification: Brahmin, Kshatriya, Vaishya, Shudra
Read the study note →- Varnashrama Dharma
Duties specific to one's Varna (caste) and Ashrama (life stage)
Where it helps Ambedkar critique
Read the study note →- Vertical Mobility
Upward or downward movement in social hierarchy
Read the study note →- Westernisation
Adoption of Western values, technology, and institutions (Srinivas 1956)
Where it helps Modernisation context
Read the study note →- Westoxication
Al-e-Ahmad 1962 — uncritical adoption of Western consumer culture eroding indigenous identity
Read the study note →- 101st Amendment
Constitutional amendment (2016) that enabled GST — inserted Articles 246A, 269A, 279A
Where it helps Constitutional basis
Read the study note →- 360-Degree Feedback
Multi-rater appraisal from self, peers, subordinates, supervisors
Where it helps Modern appraisal
Read the study note →- 5th Schedule
Constitutional schedule governing tribal areas in 10 states; Tribal Advisory Council
Read the study note →- 6th Schedule
Autonomous District Councils in Assam, Meghalaya, Tripura, Mizoram
Read the study note →- Accounting
Identifying, measuring, communicating economic information (AAA 1966)
Read the study note →- Accrual Concept
Revenue when earned; expenses when incurred (not on cash basis)
Read the study note →- AIDA Model
Attention→Interest→Desire→Action — promotional communication framework
Where it helps Advertising theory
Read the study note →- Ansoff Matrix
Four growth strategies: Market Penetration, Market Development, Product Development, Diversification
Read the study note →- Apprenticeship
Structured 1-4 year training programme (Apprentices Act 1961)
Read the study note →- April 2024 Collection
₹2.10 lakh crore — a major monthly GST collection milestone recorded in April 2024
Where it helps Revenue milestone
Read the study note →- Article 148
Constitutional article establishing CAG
Read the study note →- Article 246A
Concurrent jurisdiction of Parliament and States to legislate on GST
Where it helps Key constitutional article
Read the study note →- Article 279A
Provides for the GST Council
Where it helps Key constitutional article
Read the study note →- Atrocity (PoA Act)
Any of 47 listed offences against SC/ST under PoA Act 1989
Read the study note →- Attribution Theory
Kelley (1967): explaining behavior as internal (personality) or external (situation) cause
Read the study note →- Audit Programme
Written plan detailing audit procedures, timeline, and team responsibilities
Where it helps Syllabus topic — likely PYQ
Read the study note →- Audit Trail
Automatic, immutable log of every accounting entry — who entered, what was changed, when
Where it helps Internal control
Read the study note →- Auditing
Systematic, independent examination of financial records to determine accuracy, fairness, and compliance
Where it helps Core definition — from Latin *audire*
Read the study note →- Backup
Automatic copy of accounting data stored separately — prevents loss from hardware failure
Where it helps Disaster recovery
Read the study note →- Balance Sheet
Snapshot of assets, liabilities and equity on a specific date
Where it helps Define in every accounting question
Read the study note →- Balanced Scorecard
4-perspective appraisal: Financial, Customer, Internal, Learning (1992)
Read the study note →- BARS
Rating scale with specific behavioural examples at each point
Read the study note →- BCG Matrix
Portfolio tool: Stars, Cash Cows, Question Marks, Dogs (Bruce Henderson 1970)
Where it helps Portfolio management
Read the study note →- Bounded Rationality
Simon (1955/Nobel 1978): decisions made under limited information, time, and cognitive constraints
Read the study note →- Brand Equity
Extra value a strong brand adds; Coca-Cola $106B (2023)
Where it helps Branding concept
Read the study note →- BRSR
Business Responsibility and Sustainability Reporting — mandatory for top 1,000 listed cos (SEBI, FY 2022-23)
Where it helps Latest development
Read the study note →- Business Entity Concept
Business treated separately from owner; owner's capital = liability
Read the study note →- CAATs
Computer-Assisted Audit Techniques — tools for auditing computerized systems (ACL, IDEA, test data)
Where it helps Auditing intersection
Read the study note →- CAG
Comptroller and Auditor General — constitutional authority under Article 148
Where it helps Most examined topic
Read the study note →- Capital Expenditure
Long-term benefit expenditure capitalised and depreciated (>1 year)
Read the study note →- Cascading Effect
Tax on tax — old system problem where VAT was levied on price including Excise Duty
Read the study note →- Cash Cows (BCG)
Low growth + high share — harvest for cash to fund Stars
Read the study note →- Cash Flow Statement
Statement showing cash inflows and outflows classified under 3 activities (AS-3)
Where it helps Frequently asked — AS-3 reference essential
Read the study note →- Cess
Additional levy beyond 28% on sin goods — revenue to GST Compensation Fund
Where it helps Sin goods taxation
Read the study note →- CGST
Central Goods and Services Tax — Centre's portion on intra-state supply
Where it helps Dual GST component 1
Read the study note →- Charismatic Leadership
Vision, follower sensitivity, unconventional behavior, personal risk-taking
Read the study note →- Chart of Accounts
Master list of all ledger accounts used in accounting software — structured by type
Where it helps Database master data
Read the study note →- Cloud Accounting
Accounting software delivered via internet (SaaS) — data on remote servers, no local installation
Read the study note →- Cognitive Dissonance
Post-purchase doubt about purchase correctness
Read the study note →- Common-size Statement
Each item expressed as % of net sales or total assets
Where it helps Enables cross-firm comparison
Read the study note →- Comparative Statement
Financial data of 2+ years compared side-by-side (absolute + % change)
Where it helps One of 5 analysis techniques
Read the study note →- Composition Scheme
Simplified GST option for small businesses: manufacturers/traders and eligible restaurants generally up to ₹1.5 crore, and eligible service providers up to ₹50 lakh; no ITC and generally no inter-state outward supply
Where it helps Small business provision
Read the study note →- Computerized Accounting
Use of hardware and software to process financial transactions automatically, following double-entry principles
Read the study note →- Conceptual Skills
Ability to see organisation as a whole and its environmental context; top management
Read the study note →- Consistency
Same accounting methods across periods; disclose changes
Read the study note →- Consumer Behaviour
Study of how individuals make purchase decisions
Read the study note →- Controlling
Measuring actual performance, comparing with standards, taking corrective action
Read the study note →- Cost Centre
Responsibility centre where manager controls only costs
Where it helps Type 1 of 4 centres
Read the study note →- Cost Leadership
Being lowest-cost producer in industry (e.g., DMart, Jio)
Where it helps Generic strategy
Read the study note →- CSR
2% net profit on social activities — Companies Act 2013, Sec 135; India's first globally
Where it helps Strategic context
Read the study note →- Current Ratio
Current Assets ÷ Current Liabilities; ideal 2:1
Where it helps Liquidity measurement
Read the study note →- D2C
Brands selling directly to consumers without retail intermediaries
Read the study note →- Debt-Equity Ratio
Long-term Debt ÷ Shareholders' Equity; ideal ≤2:1
Where it helps Solvency/leverage indicator
Read the study note →- Decentralisation
Systematic delegation throughout organisation; promotes initiative and local adaptability
Read the study note →- Decision Package
ZBB unit — each activity described with cost, output, outcome, and alternatives
Read the study note →- Defalcation
Misappropriation of cash or goods by employees or management
Read the study note →- Deferred Tax
Timing difference between accounting income and taxable income (Ind AS 12)
Read the study note →- DEI
Structured efforts to improve workforce diversity and inclusion
Read the study note →- Delegation
Transfer of authority (not responsibility) from superior to subordinate
Read the study note →- Delphi Method
Expert consensus technique using iterative questionnaire rounds
Where it helps Demand forecasting
Read the study note →- Depreciation
Systematic allocation of asset cost over useful life (non-cash expense)
Where it helps Accounting entry
Read the study note →- Destination-based tax
Tax accrues to the state where goods/services are consumed — benefits consuming states
Where it helps Rajasthan relevance
Read the study note →- Devadasi
Women dedicated to deity in temples; sexual exploitation under religion; banned by PoA Act
Read the study note →- Differentiation
Offering unique product/service for premium price (e.g., Apple, Taj)
Where it helps Generic strategy
Read the study note →- DigiLocker
Government digital storage platform for financial and official documents
Where it helps Digital document management
Read the study note →- Digital Marketing
Marketing via internet and digital channels (SEO, SEM, social media)
Where it helps 2026 new syllabus
Read the study note →- Directing
Guiding, motivating, and communicating with subordinates
Read the study note →- Diversification
Entering new products + new markets; related or unrelated
Read the study note →- E-invoicing
Mandatory real-time invoice reporting to GSTN for businesses with turnover > ₹5 crore
Where it helps Anti-fraud mechanism
Read the study note →- E-way Bill
Electronic waybill for transporting goods above ₹50,000 — generated on the GST E-way Bill portal
Where it helps Anti-evasion tool
Read the study note →- EAP
Employer-funded counselling and wellness support for employees
Read the study note →- Economy
Minimum cost for required quality inputs — first 'E' of performance audit
Where it helps Performance audit dimension
Read the study note →- Effectiveness
Doing the right things — achieving intended outcomes; ends-focused
Read the study note →- Efficiency
Doing things right — minimum input for given output; means-focused
Read the study note →- Efficiency Audit
Specific examination of input-output ratio — subset of performance audit
Read the study note →- EMRS
Eklavya Model Residential School; ST children; 740 sanctioned; Navodaya equivalent
Read the study note →- Encryption
Converting data to coded form (SSL/TLS) to prevent unauthorized reading during transmission
Read the study note →- ERG Theory
Alderfer (1969): Existence, Relatedness, Growth — Maslow modified; allows regression
Read the study note →- ERP
Enterprise Resource Planning — integrates all business functions into one database
Where it helps Distinction from standalone
Read the study note →- Error
Unintentional misstatement in financial statements (omission, commission, principle errors)
Where it helps Secondary audit objective
Read the study note →- Expectancy Theory
Vroom (1964): Motivation = E × I × V (Expectancy × Instrumentality × Valence)
Read the study note →- Financial Statement
Formal record of financial activities (P&L, Balance Sheet, Cash Flow)
Where it helps Core concept — asked in both years
Read the study note →- Financing Activities
Cash from raising/repaying capital — shares, loans, dividends
Where it helps Third activity in CFS
Read the study note →- Firewall
Network security system blocking unauthorized access to accounting server
Where it helps Cybersecurity control
Read the study note →- Focus Strategy
Serving narrow market segment via cost or differentiation focus
Where it helps Generic strategy
Read the study note →- Forest Rights Act (FRA)
2006 Act recognising individual and community forest rights of tribals
Read the study note →- Four Labour Codes
Consolidation of 44 labour laws (2019-2020)
Where it helps Legislative reform
Read the study note →- Fraud
Intentional misrepresentation — defalcation, falsification, window dressing
Where it helps Secondary audit objective
Read the study note →- Full Disclosure
All relevant information disclosed in statements or notes
Where it helps Transparency principle
Read the study note →- GAAP
Generally Accepted Accounting Principles — framework of concepts, conventions, standards
Read the study note →- Gig Workers
Platform/app-based independent contractors (7.7M in India, 2022)
Read the study note →- Going Concern
Assumption business will continue ≥12 months; justifies historical cost
Read the study note →- Goodwill
Premium paid over fair value of net assets in business acquisition
Where it helps Intangible asset
Read the study note →- Green GDP
GDP adjusted for environmental degradation and resource depletion costs
Where it helps National-level environmental accounting
Read the study note →- Greenwashing
Misleading environmental marketing claims
Where it helps ASCI 2023 guidelines
Read the study note →- Gross Profit Ratio
(Gross Profit ÷ Net Sales) × 100
Where it helps Profitability indicator
Read the study note →- Group Cohesiveness
Degree to which members are attracted to group and motivated to remain
Read the study note →- Groupthink
Irving Janis (1972): cohesive group suppresses dissent; makes poor decisions
Read the study note →- GST
Goods and Services Tax — comprehensive, multi-stage, destination-based indirect tax; implemented 1 July 2017
Read the study note →- GST Compensation Fund
Fund to compensate states for revenue loss during 5-year GST transition (ended June 2022)
Where it helps Fiscal federalism
Read the study note →- GST Council
Constitutional body (Art. 279A) — Union FM chairs, State FMs members; 3/4th weighted majority
Read the study note →- GSTIN
15-digit PAN-based unique GST registration number for every registered taxpayer
Where it helps Registration identifier
Read the study note →- GSTN
Goods and Services Tax Network — government's IT backbone for GST accounting and returns filing
Where it helps Tax accounting platform
Read the study note →- GSTR-1
Return for outward supplies (sales) — monthly/quarterly
Read the study note →- GSTR-3B
Monthly summary return — ITC claimed, tax paid
Read the study note →- GSTR-9
Annual GST return — summary of 12 monthly returns
Where it helps Annual compliance
Read the study note →- Halo Effect
One positive/negative trait colours overall evaluation of a person
Read the study note →- Hardware
Physical components of computing system — computers, servers, printers, scanners
Where it helps Component 1 of CAS
Read the study note →- Hawthorne Effect
People change behavior when they know they are being observed; Mayo 1924–32
Read the study note →- Historical Cost
Assets recorded at original acquisition cost
Where it helps Measurement base
Read the study note →- HR Analytics
Data/AI-driven HR decision-making (Workday, SAP SuccessFactors)
Read the study note →- HRA (Human Resource Accounting)
Quantifying the monetary value of human capital in an organisation
Where it helps Introduced by Rensis Likert, 1960s
Read the study note →- HRM
Strategic management of people in organisations (Gary Dessler)
Read the study note →- Human Resource Planning
Forecasting future HR demand and supply to meet org goals
Read the study note →- Human Skills
Ability to work with and through people; important at all management levels
Read the study note →- Hygiene Factors
Herzberg (1959): prevent dissatisfaction (salary, conditions) but don't motivate
Read the study note →- Hypergamy
Practice of women marrying into higher social group; common in upper castes
Read the study note →- IASB
Issues IFRS; established 2001; based in London
Read the study note →- ICAI
Indian standard setter for accounting; est. 1949; 3.85L+ members
Read the study note →- IFRS
International standards issued by IASB (2001, London); 144 countries
Read the study note →- IGST
Integrated GST — on inter-state supply; Centre collects and distributes to consuming state
Where it helps Dual GST component 3
Read the study note →- Ind AS
IFRS-converged Indian standards for listed companies (from April 2016)
Read the study note →- Influencer Marketing
Brands partnering with social media personalities for promotion
Read the study note →- Input Tax Credit (ITC)
Deduction of GST paid on inputs from GST payable on outputs — eliminates cascading effect
Where it helps Most important GST mechanism
Read the study note →- Integrated Marketing Comm
Coordinating all promo tools to deliver consistent brand message
Where it helps Modern marketing
Read the study note →- Investing Activities
Cash from purchase/sale of long-term assets and investments
Where it helps Second activity in CFS
Read the study note →- Investment Centre
Responsibility centre where manager controls profit and capital employed (ROI)
Where it helps Type 4 of 4 centres
Read the study note →- Jan Sunwai
Public hearing in Gram Sabha — core of MGNREGS social audit process
Where it helps Social audit mechanism
Read the study note →- Job Analysis
Systematic study of job duties, requirements, and working conditions
Where it helps Recruitment base
Read the study note →- Job Description
Document listing duties, responsibilities, and working conditions of a role
Where it helps Recruitment tool
Read the study note →- Job Specification
Document listing qualifications, skills, experience required for a role
Where it helps Selection standard
Read the study note →- Kirkpatrick Model
4-level training evaluation: Reaction, Learning, Behaviour, Results (1959)
Where it helps Training evaluation
Read the study note →- Land Alienation
Loss of tribal land to non-tribals through sale, fraud, or development projects
Read the study note →- LCNRV
Inventory valued at lower of cost or net realisable value (Ind AS 2)
Where it helps Prudence application
Read the study note →- Lower Management
Supervisors, foremen — direct supervision, day-to-day operations
Read the study note →- Management
Process of planning, organising, staffing, directing, controlling resources to achieve objectives
Read the study note →- Managerial Grid
Blake-Mouton (1964): 9,9 Team Management is ideal; concern for people vs production
Read the study note →- Mandal Commission
B.P. Mandal Commission (1980); identified 3,743 OBC castes; recommended 27% reservation
Read the study note →- Manual Scavenging
Manual removal of human excreta; banned 2013; mostly Dalit women; NAMASTE scheme 2022
Read the study note →- Market Segmentation
Dividing market into distinct groups with similar needs
Where it helps Core STP concept
Read the study note →- Marketing Mix
Controllable 4P variables (Product, Price, Place, Promotion) used to meet target market needs
Where it helps Direct PYQ topic
Read the study note →- Maslow's Hierarchy
1943; 5-tier needs pyramid: physiological to self-actualisation
Read the study note →- Matching Concept
Expenses matched to related revenue in the same accounting period
Where it helps Accrual extension
Read the study note →- Materiality
Only significant items need full accounting treatment
Read the study note →- MBO
Management by Objectives — Peter Drucker (1954); jointly set measurable objectives
Read the study note →- MCA21
Ministry of Corporate Affairs portal — corporate filing and accounting records of registered companies
Where it helps Government digital platform
Read the study note →- McKinsey 7S
Implementation framework: Strategy, Structure, Systems + 4 soft S elements (1982)
Read the study note →- MGNREGA Section 17
Mandatory Gram Sabha social audit of all works every 6 months
Where it helps Legal mandate for social audit
Read the study note →- MICE
Meetings, Incentives, Conferences, Exhibitions — business events tourism
Read the study note →- Middle Management
Department heads, GMs — implement top-level policies, coordinate departments
Read the study note →- Mission
Current organisational purpose — what, for whom, how
Where it helps Strategy foundation
Read the study note →- MMR
Maternal Mortality Rate; 97/lakh live births (SRS 2018–20); target 70 by 2030
Read the study note →- Moha
Trial marriage system of Garasia tribe before formal marriage
Read the study note →- Motivators
Herzberg: create satisfaction (achievement, recognition, responsibility, growth)
Read the study note →- Multi-currency Accounting
Ability to record transactions in multiple currencies with automatic exchange rate conversion
Where it helps Tally Prime / SAP feature
Read the study note →- nAch
McClelland: Need for Achievement — desire to excel, moderate risk, personal responsibility
Read the study note →- nAff
McClelland: Need for Affiliation — desire for close relationships; conflict-avoiding
Read the study note →- Nari Shakti Vandan
128th Constitutional Amendment 2023; 33% reservation in Lok Sabha and Assemblies
Read the study note →- NCBC
National Commission for Backward Classes; Article 338B (102nd Amendment 2018)
Read the study note →- NCSC
National Commission for Scheduled Castes; Article 338; monitors SC safeguards
Read the study note →- NCST
National Commission for STs; Article 338A; can recommend Presidential Rule
Read the study note →- Net Promoter Score
Loyalty metric: % Promoters − % Detractors (Bain & Co., 2003)
Where it helps Customer loyalty
Read the study note →- NFRA
Independent oversight of accounting/auditing; operationalised Oct 2018
Read the study note →- Non-programmed Decision
Novel, unstructured decision requiring managerial judgment; top level
Read the study note →- nPow
McClelland: Need for Power — desire to influence; institutional power predicts mgmt success
Read the study note →- NSDC
PPP body (2009) implementing Skill India Mission; 1.4 Cr+ trained
Read the study note →- OBC
Other Backward Classes; ~52% of India's population; 27% reservation since 1990
Read the study note →- On-the-Job Training
Training while performing regular job duties (rotation, coaching)
Read the study note →- ONDC
DPIIT's interoperable open network for e-commerce (2022)
Read the study note →- Operating Activities
Core business cash flows — receipts from customers, payments to suppliers
Where it helps First activity in CFS
Read the study note →- Organising
Arranging resources and establishing authority-responsibility relationships
Read the study note →- Organizational Behavior (OB)
Study of individual and group behavior within organisations to improve effectiveness
Read the study note →- Organizational Culture
Shared assumptions and values that define how things are done in an organisation
Read the study note →- Outcome Budget
Central Government performance budgeting document — introduced 2005-06
Where it helps Central govt application
Read the study note →- PAC
Public Accounts Committee — examines CAG reports in Parliament
Where it helps Parliamentary financial oversight
Read the study note →- Parallel Simulation
Auditor re-processes actual transactions with own program — compares output with entity's output
Where it helps CAAT technique 2
Read the study note →- Password Control
User-level access restriction — role-based permissions in accounting software
Where it helps Internal control mechanism
Read the study note →- Path-Goal Theory
House (1971): leader clears path to goals; 4 styles (Directive, Supportive, Participative, Achievement)
Read the study note →- Penetration Pricing
Low initial price to gain market share quickly
Where it helps Jio 2016 example
Read the study note →- Perception
Process of selecting, organising, and interpreting stimuli into meaningful picture
Read the study note →- Performance Audit
VFM audit — evaluates Economy, Efficiency, Effectiveness of public resource use
Where it helps CAG function — frequently asked
Read the study note →- Performance Budgeting
Links budget to physical targets and outcomes — India from 1968-69
Read the study note →- PESA
Panchayats Extension to Scheduled Areas Act 1996; Gram Sabha empowerment in tribal areas
Read the study note →- PESTLE Analysis
Framework scanning Political, Economic, Social, Technological, Legal, Environmental factors
Where it helps External environment
Read the study note →- Peter Pyhrr
Introduced ZBB at Texas Instruments, USA, 1969
Read the study note →- PFMS
Public Financial Management System — CGA/MoF — tracks government fund flows from Union to beneficiaries
Where it helps India-specific govt ERP
Read the study note →- Planning
Setting objectives and determining courses of action to achieve them
Read the study note →- PM GatiShakti
₹100 lakh crore infra master plan for integrated logistics (Oct 2021)
Read the study note →- Porter's Five Forces
Industry analysis: new entrants, buyer power, supplier power, substitutes, rivalry (1979)
Where it helps Industry analysis
Read the study note →- POSH Act
Prevention, Protection & Redressal of Sexual Harassment of Women at Workplace Act 2013
Read the study note →- Positioning
Designing brand image to occupy distinct place in buyer's mind
Read the study note →- Premise Control
Checking validity of planning assumptions during implementation
Read the study note →- Price Elasticity
Responsiveness of demand to price change; >1=elastic, <1=inelastic
Read the study note →- Product Life Cycle
Four-stage sales journey: Introduction, Growth, Maturity, Decline
Read the study note →- Profit Centre
Responsibility centre where manager controls both revenues and costs
Where it helps Type 3 of 4 centres
Read the study note →- Programmed Decision
Routine, repetitive, structured decision handled by rules/procedures; lower level
Read the study note →- Prudence / Conservatism
Anticipate losses early; defer gain recognition
Read the study note →- Psychographic Segmentation
Segmenting by lifestyle, values, attitudes and personality
Read the study note →- PVTG
Particularly Vulnerable Tribal Group; 75 groups with most primitive features; PM-JANMAN 2023
Read the study note →- Quick Commerce
10-minute delivery model (Blinkit, Zepto, Swiggy Instamart)
Where it helps Modern distribution
Read the study note →- Quick Ratio
(CA − Inventory − Prepaid) ÷ CL; ideal 1:1
Where it helps Stringent liquidity test
Read the study note →- Ratio Analysis
Mathematical ratios between financial figures for performance assessment
Where it helps Most tested technique
Read the study note →- RDBMS
Relational Database Management System — stores data in structured tables (MySQL, Oracle DB, MS SQL Server)
Where it helps Database backend of accounting software
Read the study note →- Recruitment
Process of attracting potential candidates for vacancies
Where it helps Staffing stage 1
Read the study note →- Resource-Based View
Competitive advantage from VRIN resources (Jay Barney, 1991)
Where it helps Internal analysis
Read the study note →- Responsibility Accounting
System assigning accountability for costs/revenues to specific managers
Where it helps PYQ 2021 — 4 types
Read the study note →- Revenue Centre
Responsibility centre where manager controls only revenues
Where it helps Type 2 of 4 centres
Read the study note →- Revenue Expenditure
Short-term benefit expenditure expensed to P&L in current year
Read the study note →- Revenue Recognition
AS 9 (risks/rewards transferred); Ind AS 115 (5-step model)
Read the study note →- Reverse Charge (RCM)
Recipient pays GST instead of supplier — for imports, GTA, unregistered supply
Where it helps Special provision
Read the study note →- ROE (Return on Equity)
(Net Profit ÷ Shareholders' Equity) × 100
Where it helps Investor profitability measure
Read the study note →- RSAU
Rajasthan Social Audit Unit, Jaipur — state-level body for MGNREGS social audits
Where it helps Rajasthan-specific
Read the study note →- SA-200
Standard on Auditing 200 (ICAI) — establishes objectives, scope, and responsibilities of auditor
Where it helps Professional standard
Read the study note →- SaaS
Software as a Service — subscription-based internet-delivered software (Zoho Books, QuickBooks Online)
Read the study note →- SAP
Systems, Applications & Products — world's largest ERP vendor; founded 1972, Germany
Where it helps Global ERP standard
Read the study note →- Satisficing
Herbert Simon's concept: choosing the first satisfactory solution under bounded rationality
Read the study note →- Scalar Chain
Fayol's 9th principle: formal top-to-bottom line of authority
Read the study note →- Scheduled Caste (SC)
Castes notified under Article 341; historically subjected to untouchability
Read the study note →- Scheduled Tribe (ST)
Tribes notified under Article 342; inhabit forests/hills; constitutional protections
Read the study note →- Schein's 3 Levels
Artefacts → Espoused Values → Basic Assumptions (1985)
Read the study note →- Selection
Choosing the best-fit candidate from recruited applicants
Where it helps Staffing stage 2
Read the study note →- Selection Ratio
Number selected ÷ Number applied; lower = more selective
Where it helps Selection measure
Read the study note →- Self-Actualisation
Maslow's 5th level: realising full potential; creativity; peak experiences
Read the study note →- SEM / PPC
Paid search advertising (Google Ads) — pay per click
Read the study note →- SEO
Improving organic search rank through on-page/off-page techniques
Read the study note →- SERVQUAL
Service quality model measuring 5 dimensions (RATER)
Where it helps Service marketing
Read the study note →- SGST
State Goods and Services Tax — State's portion on intra-state supply
Where it helps Dual GST component 2
Read the study note →- Skills Inventory
Database of employees' qualifications, skills, and experience
Where it helps Supply forecasting
Read the study note →- Skimming Pricing
High launch price targeting price-insensitive early adopters
Read the study note →- SLM
Equal depreciation every year = (Cost−Scrap) ÷ Life
Where it helps Depreciation method
Read the study note →- SMART Objectives
Specific, Measurable, Achievable, Relevant, Time-bound objectives
Read the study note →- Social Accounting
Accounting for social costs and benefits alongside financial performance
Where it helps Growing importance — BRSR, SDGs
Read the study note →- Social Audit
Community-led examination of social outcomes of government programmes
Where it helps MGNREGS Section 17 mandate
Read the study note →- Software
Programs that run accounting processes — Tally, SAP, QuickBooks
Where it helps Component 2 of CAS
Read the study note →- Span of Control
Number of subordinates a manager can effectively supervise (5–8 complex, 15–20 routine)
Read the study note →- Standalone Software
Accounting-only software (Tally, QuickBooks) — does not integrate HR, procurement, production
Where it helps Comparison with ERP
Read the study note →- Stars (BCG)
High market growth + high market share SBUs — invest heavily
Read the study note →- Statutory Audit
Legally required audit by independent CA under Companies Act 2013
Read the study note →- Stereotyping
Applying group-level characteristics to an individual
Read the study note →- Strategic Control
Monitoring strategy execution and taking corrective action
Read the study note →- Strategic Management
Process of formulating, implementing, and evaluating strategies (Fred R. David)
Read the study note →- Supply Chain Management
Strategic coordination from raw material to end customer; 3 flows
Read the study note →- Supply Chain Mgmt
Integration of suppliers to retailers for efficient delivery
Where it helps Distribution context
Read the study note →- SWOT Analysis
Strengths, Weaknesses (internal) + Opportunities, Threats (external) — Albert Humphrey, SRI 1960s
Read the study note →- Tally Prime
India's most widely used SME accounting software — GST compliant, inventory, payroll — Tally Solutions, Bangalore, 1986
Where it helps Specific named example
Read the study note →- Technical Skills
Proficiency in specific work methods/processes; most important at lower management
Read the study note →- Test Data Method
Auditor inputs dummy transactions into live system to verify controls work correctly
Where it helps CAAT technique 1
Read the study note →- Theory X
McGregor (1960): negative view — workers lazy, dislike work, need control
Read the study note →- Theory Y
McGregor (1960): positive view — workers self-motivated, creative, seek responsibility
Read the study note →- TNA
Identifying gap between desired and actual performance
Read the study note →- Top Management
Board, CEO, MD — strategic planning, long-term decisions, policy formulation
Read the study note →- Transformational Leadership
Leaders who inspire employees to exceed expectations (Burns & Bass)
Where it helps Implementation culture
Read the study note →- Trend Analysis
Base year = 100; subsequent years as index numbers
Where it helps PYQ 2021 — two methods
Read the study note →- TRIFED
Tribal Cooperative Marketing Federation (1987); markets tribal art and forest produce
Read the study note →- Triple Bottom Line
People, Planet, Profit — John Elkington, 1994 — framework for holistic corporate reporting
Where it helps Social accounting framework
Read the study note →- True and Fair View
Primary audit criterion — financial statements must present true and fair picture of financial position
Where it helps Primary objective of audit
Read the study note →- Tuckman's Stages
1965: Forming→Storming→Norming→Performing→Adjourning (1977)
Read the study note →- Unity of Command
Fayol's 4th principle: one employee, one boss; prevents role conflict
Read the study note →- Untouchability
Practice of caste-based discrimination; abolished by Article 17
Read the study note →- UTGST
Union Territory GST — for UTs without legislature (Chandigarh, D&NH, DD)
Where it helps Dual GST component 4
Read the study note →- Value Chain Analysis
Porter (1985) — primary + support activities creating competitive advantage
Where it helps Internal analysis
Read the study note →- Van Dhan Vikas Kendra
2018; tribal cooperatives for value addition of minor forest produce; 50 members each
Read the study note →- Vision
Long-term inspirational aspiration of the organisation
Where it helps Strategy foundation
Read the study note →- VRIN
Valuable, Rare, Inimitable, Non-substitutable — criteria for sustainable advantage
Read the study note →- WDV
Fixed % on reducing book value; higher early charge; Income Tax Act mandated
Where it helps Depreciation method
Read the study note →- ZBB
Zero Based Budgeting — every expenditure justified from zero each cycle; Peter Pyhrr, 1969
Where it helps PYQ in both years
Read the study note →- Zero-rated supply
Exports — 0% GST but ITC refund available; different from exempt supply (no ITC)
Where it helps Export mechanism
Read the study note →- Zoho Books
Indian cloud accounting software by Zoho Corporation — GST compliant, affordable SaaS
Where it helps Cloud accounting example
Read the study note →