01234235 36789 868 6 7 86 4 96 9 86 96 9 86 6 06 7 8 - ycmou

!"#$"#%#&'()*+ ,-./0.-.1(&(23*,45&6'1(&23**$71862./*98)&2516:)1(&2.2;*<21862./*98)&2516:)1(&2*&=* &-'.2(85>2(1*+ ,))&:21(20*=&6*,-./0.-.1(&23*,45&6'1(&2*.2;*$71862./98)&2516:)1(&2 +?@ABCDEFGHIJKLGMIF**BCB**NFMG*OPQRLGMSRT*BCU**VRWFMFX*IY*Z[W\XW[WGMIF]*ZPTIHGMIF*WFJ*_GRHFW\*aRLIFTGHKLGMIFBCUCB**bMTGMFLGMIF*PRGcRRF*Z[W\XW[WGMIF]*ZPTIHGMIF*WFJ*_GRHFW\*aRLIFTGHKLGMIF*BCd**eIH[T*IY*Z[W\XW[WGMIFBCf**ZLLIKFGMFX*gGWFJWHJ*hZgiBfj*WFJ*Z[W\XW[WGMIF*BCfCB**klRT*IY*Z[W\XW[WGMIF**hEj**Z[W\XW[WGMIF*MF*GmRFWGKHR*IY*VRHXRH**hEEj*Z[W\XW[WGMIF*MF*GmR*FWGKHR*IY*KHLmWTR**BCn*oKHLmWTR*LIFTMJRHWGMIF*WFJ*cIHpMFXVRGmIJT**hWj*qK[ *gK[*VRGmIJ*hPj*rRG*ZTTRGT*VRGmIJ**hLj**oWl[RFG*sWTMT*VRGmIJ**hJj*tI[PMFWGMIF*IYrRG*ZTTRGT*VRGmIJ*WFJ*oWl[RFG*IY*sWTMT*VRGmIJ**BCu**ZLLIKFGMFX*oHILRJKHR**BCuCB*oHRLWKGMIFT*GI*PR*GWpRFcmM\R*WLLIKFGMFX*RFGHMRT*GI*PR*[WJR*MF*GmR*PIIpT*IY*GmR*vRFJRH*tI[ WFl*hGHWFTYRHIH*LI[ WFlj**BCuCU**gGRTGI*L\ITR*GmR*PIIpT*IY*WLLIKFGT*IY*GmR*GHWFTYRHIH*IY*LI[ WFl**BCuCd**ZLLIKFGMFX*_FGHMRT*MF*GmR*PIIpT*IYkHWFTYRHIH*tI[ WFl**BCw*E\\KTGHWGMIFT*BCx*gK[[WHl*BCy*zRl*kRH[T*BCBD*{KRTGMIFT*WFJ*_RHLMTRT*BCBBeKHGmRH*aRWJMFX>2(1*| }81~&;5*&=*,))&:21(20*�*,-./0.-.1(&2*.2;*$71862./*98)&2516:)1(&2@�?++�UCDEFGHIJKLGMIF**UCB**NFMG*OPQRLGMSRT**UCU**VRGmIJT*IY*ZLLIKFGMFX*YIH*Z[W\XW[WGMIF**hEj**kmR*oII\MFX*IYEFGRHRTG*VRGmIJT**hEEj **kmR*oKHLmWTR*VRGmIJC**UCd**EFGRH*tI[ WFl*EFSRTG[RFGT**hEj*�mRF*IFR*IY*GmRkHWFTYRHIH*tI[ WFl*MT*mI\JMFX*TmWHRT*IY*IGmRH*kHWFTYRHIH*tI[ WFlC**hEEj*�mRF*GmR*kHWFTYRHRR*tI[ WFlMT*mI\JMFX*TmWHRT*IY*GmR*kHWFTYRHIH*tI[ WFl**hEEEj***�mRF*GmR*kHWFTYRHIH*tI[ WFl*mI\JMFX*TI[R*TmWHRT*IYGmR*kHWFTYRHRR*tI[ WFlC**hEvj**�HITT*�I\JMFX**UCf*_GRHFW\*aRLIFTGHKLGMIF**UCn***E\\KTGHWGMIFT**UCu**gK[[WHlUCwzRl*kRH[T**UCx*{KRTGMIFT*WFJ*_RHLMTRT**UCy*eKHGmRH*aRWJMFX>2(1*� <21862./*98)&2516:)1(&2 ++@?+��*dCD**EFGHIJKLGMIF**dCB**NFMG*OPQRLGMSRT**dCU**VRWFMFX*IY*EFGRHFW\*aRLIFTGHKLGMIF dCUCB*qRXW\*aR�KMHR[RFGTMj**qRXW\*aR�KMHR[RFGT*MF*LIFFRLGMIF*cMGm*GmR*�*Z\GRHFWGMIF*IY*gmWHR*tWMGW\***MMj**qRXW\*aR�KMHR[RFGT*YIH�aRJKLGMIF*IY*gmWHR*tWMGW\�**MMMj**qRXW\*aR�KMHR[RFGT*YIH*�vWHMWGMIF*IY*gmWHRmI\JRHT�*aMXmGT**dCd**bMTGMFLGMIFPRGcRRF*EFGRHFW\*aRLIFTGHKLGMIF*WFJ*_GRHFW\*aRLIFTGHKLGMIF***dCf*aRJKLGMIF*IY*gmWHR*tWMGW\***dCfCB*oKHITRIY*tWMGW\*aRJKLGMIF**dCfCU*oHILRJKHR*IY*tWMGW\*aRJKLGMIF**dCfCd*Z\GRHWGMIF*IY*gmWHR*tWMGW\**dCn**ZLLIKFGMFX_FGHMRT**dCu*kHRWG[RFG*IY*ZHHRWHT*IY*bMSMJRFJ**dCw**gLmR[R*IY*tWMGW\*aRJKLGMIF**dCx*E\\KTGHWGMIFT**dCygK[[WHl**dCBD**zRl*kRH[T*dCBB*{KRTGMIFT*WFJ*_RHLMTRT**dCBU**eKHGmRH*aRWJMFX#&'()*| �6&=(1*&6*�&55*�6(&6*1&*<2)&6'&6.1(&2>2(1*A }8.2(20*.2;*,))&:21(20*#68.1-821*�*�6&=(1*&6*�&55*'6(&6*1&<2)&6'&6.1(&2 +�@?+@�fCD*EFGHIJKLGMIF**fCB*NFMG*OPQRLGMSRT**fCU*Z\\ILWGMIF*IY*oHIYMG*IH*qITT*MFGI*oHR�WFJ**oITG*EFLIHIHWGMIF*oRHMIJCfCUCB*VRWFMFX*IY*oHIYMG*IH*qITT*oHMIH*GI*EFLIHIHWGMIF*fCUCU*gGRT*YIH*WTLRHGWMF[RFG*IY*oHIYMG*IH*qITT**oHMIHGI*EFLIHIHWGMIFC*fCd*ZLLIKFGMFX*kHRWG[RFG**fCf*VRGmIJT*IY*tI[ KGMFX*oHIYMG*IH*qITT*oHIYMG*GI*EFLIHIHWGMIFfCntKG*�*IYY*�*bWGR**fCu*E\\KTGHWGMIFT**fC*w*gK[[WHl**fCx*zRl*kRH[T*fCy*{KRTGMIFT*WFJ*_RHLMTRT**fCBDeKHGmRH*aRWJMFX>2(1*� �6&=(1*&6*/&55*'6(&6*1&*<2)&6'&6.1(&2*�*�.5(5*&=*,''&61(&2-821+@�?|�AnCDEFGHIJKLGMIF**nCB*NFMG**OPQRLGMSRT**nCU*sWTMT*IY**Z IHGMIF[RFG**nCd*�KMJR\MFRT*YIH*Z IHGMIF[RFG*IY_ RFTRT*nCf*gK[[WHl*tmWHG**nCn**E\\KTGHWGMIFT**nCu*gK[[WHl**nCw*zRl*kRH[T**nCx*{KRTGMIFT*WFJ*_RHLMTRTnCy***eKHGmRH*aRWJMFX

!"#$%& '#()*%+$$!,(-.%!/%0)(1#(2%3!4")(56(#-%7 8(-9!:,$-#!(%-!%0)(1#(2%3!4")(5 ;<=>;;<?@A%BCDEFGHIDJFC%%?@K%%LCJD%%MNOPIDJQPR%%?@S%%BCDEFGHIDJFC%DF%TUCVJCW%XFYZUC[%%?@\%]PWU%_EFQJRJFCR%%UabPRDEJIDJFC%FC%THRJCPRR%%Na%cFCdTUCVJCW%eRRPDR%UCG%JDR%fJRZFRU%%Ia%XUZJDU%gDEHIDHEP%%Ga%bPRPEQP%hHCGPa%gDUDHDFE[%bPRPEQP%%ia%XURj%bPRPEQP%Wa%bPIFCRDEHIDJFC%FC%]FUCR%UCG%eGQUCIPR%%ja%TJR%iFE%XFPIDJFCJa%eIIPZDUCIPk%lCGFERPYPCD%UCG%MDjPE%MNJWUDJFCR%%OabPNUDP%FC%TJR%fJRIFHCDPG%%Va%]PDDPE%Fi%XEPGJDUCG%mEUQPPEnR%XjPoHPR%%a%_EFQJRJFC%iFE%TUG%%UCG%fFHNDiH%fPNDR%%Ya%_EFQJRJFC%iFE%mUpUDJFC%%Ca%_EFQJRJFCRUCG%XFCDJCWPCIJPR%%Fa%eIIFHCDJCW%qPUE%%?@r%BHRDEUDJFCR%%?@s%gHYYUE[%%?@?%tP[%mPEYR%%?@u%%vHPRDJFCR%UCGlpPEIJRPR%%?@w%hHEDjPE%bPUGJCW6(#-%x y!(%>%z{9/!94#(2%+..{-.%|yz+} ;;~>;�;u@A%%BCDEFGHIDJFC%%u@K%LCJD%MNOPIDJQPR%%u@S%cFC%_PEiFEYJCW%eRRPDR%c_ea%%u@S@K%%%�PUCJCWu@S@S%%%%XURRJiJIUDJFC%Fi%eRRPDRu@S@\%_EFQJRJFC%eWUJCRD%�UEJFHR%eRRPDR%u@S@r%XUIHUDJFC%Fi%�BCIFYPbPIFWCJDJFC�%%u@\%eCCPpHEP%B%%u@r%eCCPpHEP%BB%%u@s%mjP%TUCVJCW%bPWHUDJFC%eIDk%K�r�@%gIjPGHP%B%d%eYPCGYPCDRu@s@K%eGGJDJFCU%fJRIFRHEPR%N[%TUCVR%JC%�cFDPR%DF%eIIFHCDR�%%u@?%BHRDEUDJFCR%%u@u%gHYYUE[%%u@w%tP[%DPEYRu@�%vHPRDJFCR%UCG%lpPEIJRPR%%u@KA%hHEDjPE%bPUGJCW6(#-%� '#()*%+$$!,(-.%!/%0)(1#(2%3!4")(5 ;�&>&~�w@ABCDEFGHIDJFC%%w@K%%LCJD%MNOPIDJQPR%%w@S%TFFVR%Fi%eIIFHCDR%%w@\%_EPZUEUDJFC%Fi%hJCU%eIIFHCD%%w@\@K%mjPmjJEG%gIjPGHP%d%hEFY%�en%hFEY%Fi%TUUCIP%gjPPD%%w@\%S%hFEY%�Tn%d%hEFY%Fi%_EFiJD%UCG%]FRR%eIIFHCDw@\@\%WHJGPJCPR%Fi%bTB%iFE%IFYZJUDJFC%Fi%hJCUCIJU%RDUDPYPCDR%%w@r%BHRDEUDJFCR%%w@s%eNEJGWP%iFEY%Fi%TUUCIPgjPPD%UCG%_EFiJD%UCG%]FRR%eIIFHCD%%w@?gHYYUE[%%w@u%tP[%mPEYR%%w@w%vHPRDJFCR%UCG%lpPEIJRPR%%w@�hHEDjPE%bPUGJCW !"#$%� '#()*%+$$!,(-.%!/%�{({9)*%8(.,9)(${%3!4")(56(#-%� 8(-9!:,$-#!(�%�{)(#(2%)(:% 5"{.%!/%8(.,9)(${ &~�>&&��@ABCDEFGHIDJFC%%�@K%LCJD%MNOPIDJQPR%%�@ScUDHEP%Fi%BCRHEUCIP%%�@\%�PUCJCW%UCG%fPiJCJDJFC%%�@r%%XUDPWFEJPRFi%BCRHEUCIP%%�@s%m[ZPR%Fi%BCRHEUCIP%%%�@s@K%]JiP%BCRHEUCIP%%�@s@S%hJEP%BCRHEUCIP�@s@\%�UEJCP%BCRHEUCIP%%�@?XFYZUEJRJFC%NPD�PPC%]JiP%BCRHEUCIP%UCG%hJEP%UCG%�UEJCP%BCRHECUIP%%�@u%gHYYUE[%%�@w%tP[%mPEYR%%�@�vHPRDJFCR%UCG%lpPEIJRPR%%�@KA hHEDjPE%bPUGJCW6(#-%~< +$$!,(-.%!/%�{({9)*%8(.,9)(${%0,.#({..%�%�{�{(,{%+$$!,(-&&=>&��KA@A%%BCDEFGHIDJFC%%KA@KLCJD%MNOPIDJQPR%%KA@S%_EPZUEUDJFC%Fi%hJCUCIJU%gDUDPYPCDR%%Ja%hFEY%T%d%be%JJa%%hFEYT%d%_]%%JJJa%hFEY%T%d%Tg%%KA@\ gIjPGHP%hFEYJCW%ZUED%Fi%hJCUCIJU%gDUDPYPCDR%%Ja%gIjPGHP%d%K%�%_EPYJHYlUECPG%cPDa%%JJa%gIjPGHP%d%S%�%XUJYR%BCIHEEPG%cPDa%%JJJa%gIjPGHP%d%\%�%XFYYJRRJFC%%JQa%gIjPGHP%d%r%�MZPEUDJCW%lpZPCRPR%bPUDPG%DF%BCRHEUCIP%THRJCPRR%%KA@r%BHRDEUDJFCR%%KA@s%gHYYUE[%%KA@?%tP[%mPEYR%%KA@uvHPRDJFCR%UCG%lpPEIJRPR%%KA@w%HEDjPE%bPUGJCW6(#-%~~ +$$!,(-.%!/%�{({9)*%8(.,9)(${%0,.#({..%�%0)*)(${%��{{-&��>�<~KK@A%LCJDR%MNOPIDJQPR%%KK@S%gIjPGHP%iFEYJCW%ZUED%Fi%TUUCIP%gjPPD%%Ja%gIjPGHP%d%s%�%gjUEP%XUZJDU%%JJagIjPGHP%d%se%�%gjUEP%XUZJDU%_UDDPEC%Fi%%gjUEPjFGJCW%%JJJa%gIjPGHP%d%?%�%bPRPEQPR%UCG%gHEZHR%%%JQa%gIjPGHPd%u%�%TFEEF�JCWR%%Qa%gIjPGHP%d%w%�%BCQPRDYPCD%%%%QJa%gIjPGHP%d%�%�%]FUCR%%QJJa%%gIjPGHP%d%KA%�%hJpPG%eRRPDRQJJJa%gIjPGHP%d%KK%�%XURj%UCG%TUCV%TUUCIPR%%JpagIjPGHP%d%KS%�%eGQUCIPR%UCG%MDjPE%eRRPDR%%pa%%gIjPGHP%dK\%�%XHEEPCD%]JUNJJDJPR pJa%gIjPGHP%d%Kr%�%_EFQJRJFCR%%pJJa%gIjPGHP%d%Ks%�%�JRIPUCPFHR%lpZPCRPR%%pJJJagIjPGHP%d%I%�%eHGJDFER%EPZFED%%KK@\%gHYYUE[%%KK@r%gZPIJYPCR%Fi%bPQPCHP%eIIFHCD%K%UCG%S%%KK@s%BHRDEUDJFCRKK@? tP[%mPEYR%%KK@u%vHPRDJFCR%UCG%lpPEIJRPR%%KK@w%hHEDjPE%bPUGJCW

!"#$"#%#&'()*+ ,))&-./0*&1**2&34(.5* &6'7.(809.(/*+:87.(.5;*<81(.(/(&.;*=8573* &.4(/(&.0*7.4*>?(.)('380*&1* &.0&3(47/(&.*+@AABCDEFGHIJKLGMIF*BCB*NFMG*OPQRLGMSRT*BCU**VRWFMFX*WFJ*YRZMFMGMIFT**BC[*\RXW]*IFJMGMIFT*ZIH*_HR_WHWGMIF*IZ**W]WFLRabRRG*IZ*W*cI]JMFX*IC**BCd**eHMFLM_]RT*IZ*IFTI]MJWGMIF*BCf*gMFWFLMW]*hRWH*IZ*GbR*cI]JMFX*IC*WFJ*MGT*aKPTMJMWHh*BCiE]]KTGHWGMIFT**BCj*aKkkWHh*BCl*mRh*nRHkT**BCo*pKRTGMIFT*WFJ*qrRHLMTRT*BCBD*gKHGbRH*sRWJMFX9.(/*A>?8'7?7/(&.*&1* &.0&3(47/84*t737.)8@0u88/*&1*2&34(.5* &6'7.v Aw@xyUCDCEFGHIJKLGMIF**UCB*NFMG*OPQRLGMSRT*UCU*eHR_WHWGMIF*IZ*IFTI]MJWGRJ*W]WFLR*abRRG*IZ*cI]JMFX*IC*zMGb*IFRaKPTMJMWHh*IF]h*UCUCB*eKH_ITR*UCUCU*{JSWFGWXRT*UCUC[*YMTWJSWFGWXRT*UCUCd**eHILRJKHR*UC[*WTML*sK]RT*ZIH*_HR_WHMFXW*IFTI]MJWGRJ*W]WFLR*abRRG**UCd*VMTLR]]WFRIKT*{JQKTGkRFGT*UCf*E]]KTGHWGMIFT*UCi*aKkkWHh*UCj*mRh*nRHkT*UClpKRTGMIFT*WFJ*qrRHLMTRT*UCo*gKHGbRH*sRWJMFX9.(/*w*,%@A+*7.4*>?8'7?7/(&.*&1* &.0&3(47/84*|(.7.)(73*%/7/868./0 x}@}x[CDEFGHIJKLGMIF*[CB*NFMG*OPQRLGMSRT*[CU*{a~UB*WFJ*eHR_WHWGMIF*IZ*IFTI]MJWGRJ*gMFWFLMW]*aGWGRkRFGT*[CUCB*OPQRLGMSRT[CUCU**�IGWP]R*nRHkT*[CUC[*gIHkWG*IZ*IFTI]MJWGRJ*gMFWFLMW]*aGWGRkRFG*[C[C*aLI_R*IZ*IFTI]MJWGRJ*gMFWFLMW]*aGWGRkRFG[Cd IFTI]MJWGMIF*eHILRJKHR*[Cf*NFHRW]MTRJ*\ITTRT*[Ci*YMTL]ITKHR*[Cj*eHWLGMLW]*qrWk_]RT*HR]WGRJ*GI*{a~UB*[ClCE]]KTGHWGMIFT*[CoC*aKkkWHh*[CBDC*mRh*nRHkT*[CBBC*pKRTGMIFT*WFJ*qrRHLMTRT*[CBUC*gKHGbRH*sRWJMFX#&'()*A 2-67.*�80&-?)8*,))&-./(.59.(/*x:87.(.5;*!��8)/(�80*7.4*:870-?868./0*(.*2-67.*�80&-?)80,))&-./(.5 }�@�AdCD**EFGHIJKLGMIF*dCB**NFMG*OPQRLGMSRT**dCU**VRWFMFX*WFJ*IFLR_G*IZ*cs{**dCUCB**OPQRLGMSRT*IZ**cs{**dCdCU**eKH_ITRIZ*cs{*dC[*�RRJ*IZ*cs{**dCd**cMTGIHMLW]*YRSR]I_kRFG*IZ*cs{*IFLR_G**dCf**Ek_IHGWFLR*MF*cs{**dCi**VRWTKHRkRFGTMF*cs*{LLIKFGMFX*�{�*ITG*{__HIWLbC*�W�*OHMXMFW]*IH*cMTGIHMLW]*ITG*{__HIWLbC*�P�*O__IHGKFMGh*ITG*{__HIWLb**�L�sR_]WLRkRFG*ITG*{__HIWLb*�J�*{JQKTGRJ*eHRTRFG*�W]KR*dCj*E]]KTGHWGMIFT*dCl*aKkkWHh**dCo**mRh*GRHkT**dCBDpKRTGMIFT*WFJ*qrRHLMTR**dCBB**gKHGbRH*sRWJMFX9.(/*�:870-?868./*(.*2�,*@*$)&.&6()*�73-8*,''?&7)u �w@+�yfCDEFGHIJKLGMIF**fCB**NFMG*OPQRLGMSRT**fCU**qLIFIkML*�W]KR*{__HIWLb***fCUCB**\RS*WFJ*aLbzWHG*U*VIJR]**fCUCU\M�RHG�T*RbWSMIKH*VIJR]**fCUC[**g]WkbI]G��T*VIJR]*IZ*EFJMSMJKW]*�W]KR*fCUCd*aGILbWTGML*_HILRTT*zMGb*TRHSMLR*VIJR]fCUCf**cR�MkMWF*WFJ*�IFRT*LIk_RGMGMSR*MJJMFX*VIJR]**fCUCi**cRHkWFTIF�T*KF_KHLbWTRJ*�IIJzM]]*VIJR]**fC[**OGbRH~*�IF~kIFRGWHh*VIJR]T**fCd**E]]KTGHWGMIFT**fCf**aKkkWHh**fCi**mRh*nRHkT**fCj**pKRTGMIFT*WFJ*qrRHLMTRT**fCl**gKHGbRHsRWJMFX9.(/*y2-67.*�80&-?)8*,))&-./(.5*�.*�.4(7 +�}@++yiCD**EFGHIJKLGMIF**iCB**NFMG*OPQRLGMSRT**iCU**cKkWF*sRTIKHLR*{LLIKFGMFX*MF*EFJMWiCUCB**gHWkR*zIH�*IZ*IH_IHWGRsR_IHGMFX*MF*EFJMW**iC[**cKkWF*sRTIKHLR*�W]KWGMIF*kIJR]T*TR]RLGRJ*Ph*EFJMWF*Ik_WFMRT**iCd**�RFRHW]*LIFTMJRHWGMIFMF*zIH�MFX*IZ*cs{*LIFLR_G*Ph*EFJMWF*LIk_WFMRT**iCf**NTRZK]FRTT*IZ*cs{*_HWLGMLR**iCi**eHIP]RkT*MF*cs*{LLIKFGMFXiCj**aKkkWHh**iCl**mRh*nRHkT**iCo**pKRTGMIFT*WFJ*qrRHLMTRT**iCBD**gKHGbRH*sRWJMFX#&'()*w �73-7/(&.*&1*�&&4�(33*7.4*�73-7/(&.*&1*%u7?809.(/*}:87.(.5;*"884;*�73-7/(&.*&1*�&&4�(33*@*,�8?758*>?&1(/*:8/u&4 ++}@+wyjCD**EFGHIJKLGMIF*jCB*NFMG*OPQRLGMSRT*jCU*VRWFMFX*WFJ*YRZMFMGMIF*IZ*�IIJzM]]*jC[*�RRJ*ZIH*�W]KWGMIF*IZ*�IIJzM]]**jCdq]RkRFGT*IZ*�IIJzM]]*jCdCB*YMTGMFXKMTbMFX*gRWGKHRT*IZ*�IIJzM]]*jCdCU*nh_R*IZ*�IIJzM]]*jCf*gWLGIHh*{ZZRLGMFX�W]KWGMIF*IZ*�IIJzM]]*jCi*VRGbIJT*IZ*�W]KWGMIF*IZ*�IIJzM]]*jCiCB*{SRHWXR*_HIZMG*VRGbIJ*jCj*E]]KTGHWGMIFT*jCl**aKkkWHhjCo*mRh*nRHkT*jCBD*pKRTGMIFT*WFJ*qrRHLMTRT*jCBB*gKHGbRH*sRWJMFX

!"#$%&'()'#"*!$*+$,**-."(($/$0)123$43*+"#$52#6*- 789/7:;<=>$$?@ABCDEFAGC@$<=H$I@GA$JKLMFAGNMO$<=P$QERMB$SBCTGA$UMAVCD$<=W$XFFCE@AG@Y$ZBM[A\M@A$<=]$$[_FE_[AGC@$CT$XNMB[YMSBCTGA$QERMB$RBCTGA$[@D$aCCDbG__$<=c$Q_GDG@Y$dQF[_M$e[_E[AGC@$CT$QERMB$SBCTGA$<=f$?__EOAB[AGC@O$<=g$QE\\[Bh$<=<$iMhZMB\O$<=j$kEMOAGC@O$[@D$lmMBFGOMO$<=H>$nEBAVMB$oM[DG@Y !"#$p&'()'#"*!$*+$,**-."(($/$q'1"#'("r'#"*!$'!-$s!!)"#t$52#6*-r 7::/7uuj=>$$?@ABCDEFAGC@$j=H$I@GA$JKLMFAGNMO$j=P$[RGA[_GO[AGC@$CT$SBCTGA$\MAVCD$$j=W$X@@EGAh$UMAVCD$j=]$?__EOAB[AGC@O$j=cOE\\[Bh$j=f$iMh$ZMB\O$j=g$kEMOAGC@O$[@D$lmMBFGOMO$j=<$nEBAVMB$oM[DG@Y !"#$7v&'()'#"*!$*+$06'32r$/$w22-x$52#6*-r$*+$&'()'#"*!$*+$06'32r 7u9/7%uH>=>$?@ABCDEFAGC@$H>=H$I@GA$JKLMFAGNMO$H>=P$e[_E[AGC@$CT$OV[BMO$H>=P=H$n[FACBO$XTTMFAG@Y$AVM$N[_EM$CT$OV[BMO$H>=P=PyMMD$TCB$e[_E[AGC@$CT$QV[BMO$H>=W$UMAVCDO$CT$e[_E[AGC@$CT$QV[BMO$H>=W=H$XOOMA$d$z[F{G@Y$UMAVCD$H>=W=P$|GM_Ddz[OGO$UMAVCD$}G~$J@$SBCTGA$z[OGO$}GG~$J@$�GNGDM@D$z[OGO$H>=]$?__EOAB[AGC@O$H>=c$QE\\[Bh$H>=f$iMh$ZMB\O$H>=gkEMOAGC@O$[@D$lmMBFGOMO$H>=<$nEBAVMB$oM[DG@Y !"#$77&'()'#"*!$*+$06'32r$/$�'"3$&'()2$52#6*-x$&'()2$*+$�"�6#$'!-432+232!�2$06'32r 7%9/�v%HH=>$$?@ABCDEFAGC@$HH=H$I@GA$JKLMFAGNMO$HH=P$n[GB$e[_EM$UMAVCD$HH=W$e[_E[AGC@$CT$oGYVA$QV[BMO$HH=]$e[_E[AGC@$CTSBMTMBM@FM$QV[BMO$HH=c$e[_E[AGC@$CT$zC@EO$QV[BMO$HH=f$?__EOAB[AGC@O$HH=g$QE\\[Bh$HH=<$iMh$ZMB\O$HH=j$kEMOAGC@O[@D$lmMBFGOMO$HH=H>$nEBAVMB$oM[DG@Y�*1"�$; �*#2($s��*)!#"!� !"#$7�&"r"#*3�r$�2-�23$'!-$4321'3'#"*!$*+$�"!'($s��*)!#r �77/��vHP=>$?@ABCDEFAGC@$HP=H$I@GA$JKLMFAGNMO$HP=P$eGOGACB�O$�MDYMB$HP=W$SBMR[B[AGC@$CT$nG@[_$XFFCE@AO$HP=]$?__EOAB[AGC@OHP=c$QE\\[Bh$HP=g$iMh$ZMB\O$HP=<$kEMOAGC@O$[@D$lmMBFGOMO$$HP=j$$nEBAVMB$oM[DG@Y !"#$78�!#3*-)�#"*!x$s��*)!#"!�$�32'#�2!#$"!$�*#2($s��*)!#"!� ��7/�8vHW=>$$?@ABCDEFAGC@$HW=H$I@GA$JKLMFAGNMO$HW=P$�CAM_$XFFCE@AG@Y$HW=P=H$ZhRM$CT$�CAM_O$[@D$oMOA[EB[@AO$$HW=W$$XFFCE@AG@YZBM[A\M@A$G@$�CAM_$XFFCE@AG@Y$HW=]$nGm[AGC@$[@D$V[BYG@Y$CT$oCC\$o[AM$HW=]=H$UMAVCD$TCB$[OFMBA[G@G@Y$oCC\do[AM$HW=]=P$[_FE_[AGC@$CT$oCC\$JFFER[@Fh$o[AM$HW=c$?__EOAB[AGC@O$HW=f$QE\\[Bh$HW=g$$iMh$ZMB\O$HW=<$$kEMOAGC@O[@D$lmMBFGOMO$HW=j$nEBAVMB$oM[DG@Y

!"#$%&'()*+((,*-.+/.+*+'.(0)/12134!5#16171589:;<=>9?;819;1$89:@A:@8@=:BC?ADEFGHIGHEHJGK1DEFGHIGHEHJGLMNI1OEP1DEFHGIGNLHQRESHIF1RT1OE1DEFGHIGHEHJGUNVENTNSOESH1RT1DEFGHIGHEHJGLMNIDEFGHIGHEHJGLMNI1WHXHYRIZHEFURZH1[RPHYL1TRG1DEFGHIGHEHJGLMNI1WHXHYRIZHEFDEFGHIGHEHJGLMNI1NE1WHXHYRINEV1QRJEFGNHL4!5#1\17148<@:B9]8<?81$89:@A:@8@=:BC?ADEFGHIGHEHJGLMNI_1QRESHIF1OEP1GRaFMWNZHELNREL1RT1DEFGHIGHEHJGLMNI1WHXHYRIZHEFDEFGHIGHEHJGLMNI1OEP1[OEOVHZHEFWNLFNESFNRE1bHFaHHE1OE1DEFGHIGHEHJG1OEP1O1[OEOVHG4!5#1c17589:;<=>?819C@1$89:@A:@8@=:dMH1DEFGHIGHEHJGNOY1eHGLREOYNFfDEFGHIGHEHJGNOY1[NEPLHFDEFGHIGHEHJGNOY1gJESFNREL4!5#1h17$89:@A:@8@=:?]i1j]:@@:QMOGZL1RT1kHNEV1OE1DEFGHIGHEHJGl1mRJGEHf1dRaOGPL1DEFGHIGHEHJGLMNI1QOGHHG[fFML1RT1DEFGHIGHEHJGLMNIeGRbYHZL1gOSHP1bf1DEFGHIGHEHJGLdMH1WOGn1UNPH1RT1DEFGHIGHEHJGLMNI4!5#1o17#C@;:?@B1;p1$89:@A:@8@=:BC?ADSRERZNS1dMHRGNHL1RT1DEFGHIGHEHJGLMNIURSNRYRVNSOY1dMHRGNHL1RT1DEFGHIGHEHJGLMNIQJYFJGOY1FMHRGNHL1RT1DEFGHIGHEHJGLMNIeLfSMRYRVNSOY1dMHRGNHL1RT1DEFGHIGHEHJGLMNIQRESHIFJOY1[RPHYL1RT1DEFGHIGHEHJGLMNIq4%5!$%%1$!#r$sr$!$4r%t5s1u15vw1j;xw1s]:9115%yzz{q4%

!"#$%&'()*+((,*-.+/.+*+'.(0)/121345%6!$%%1$!#7$87$!$57%9681:16;<1=>?<18@AB116%CDDE45%5!6#1F1G1=H@IIJKJL@BJ>M1>K1$MBANOANMNPAIQRSTTUVUWSXUYZ1YV1[ZX\]\]Z]_\TSZaYVbT1QRSTTUVUWSXUYZ1cST]d1YZ1edSXSfURUXgh1iUZjabT1QRSTTUVUWSXUYZ1cST]d1YZ1kSX_\]1YV1[WYZYlghm_XSbT1QRSTTUVUWSXUYZ1n\Yl1]o]RYl]ZX1eZjR]h11e\Xa_\1QYR]bT1QRSTTUVUWSXUYZh1QRSTTUVUWSXUYZ1cST]dYZ1pYXUo]Th1QRSTTUVUWSXUYZ1fg1c]aSoUY\SR1iWU]ZXUTXTh1QRSTTUVUWSXUYZ1fg1qWfSTS\SZh1eRTYTh1r]TXa]SdSZd1r\UjaXh1sSt1iaSZuS\bT1QRSTTUVUWSXUYZh1QRSTTUVUWSXUYZ1cST]d1YZ1[v]\XUT]h1QRSTTUVUWSXUYZ1cST]dYZ1pYXUoSXUYZ1w]o]RTh1QRSTTUVUWSXUYZ1cST]d1YZ1xg]1YV1c_TUZ]TTh11yY]1ef\SaSlbT1QRSTTUVUWSXUYZhzUll]\]\1SZd1iWS\fY\Y_jabT1QRSTTUVUWSXUYZ1cST]d1YZ1Q_RX_\SR1Uo]\TUXgh1iWaYRRaSll]\bTWRSSTTUVUWSXUYZ1cST]d1YZ1[ZX\]\]Z]_\TaU1{\SWXUW]h1sYf]\X1|UT\UWabT1QRSTTUVUWSXUYZ1YV1iXS\X}_[ZX]\\UT]Th1QRSTTUVUWSXUYZT1cST]d1YZ1k]~1x\]ZdTh1�Xa]\1QRSTTUVUWSXUYZT5!6#1�1G1$MBANOANMNPAJ@H1$M�JA>M?NMB[ZX\]\]Z]_\USR1[ZoU\YZl]ZXnSWXY\T1SVV]WXUZj1[ZX\]\]Z]_\USR1m\Y~XacS\\U]\T1XY1[ZX\]\]Z]_\TaU5!6#1�1G1=AN@BJ�JB�1@M�16MM>�@BJ>MQ\]SXUoUXgQYl YZ]ZX1[R]l]ZXT1YV1Q\]SXUoUXgh11eXX\Uf_X]T1YV1Q\]SXUo]1�ZdUoUd_SRTh1cS\\U]\T1XY1Q\]SXUoUXgh1xa]Q\]SXUo]1{\YW]TTh1�ZW_RWSXUZj1Q\]SXUoUXgh1|]_\UTXUWT1VY\1iXUl_RSXUZj1Q\]SXUo]1�d]ST��ZTUjaXThx]WaZU�_]T1YV1]o]RYUZj1Q\]SXUo]1xaUZuUZj�ZZYoSXUYZ{\UZWUR]T1YV1�ZZYoSXUYZ5!6#1 1G=AN@BJ�JB��16MM>�@BJ>M1@M�1$MBANOANMNPAI�JO{]X]\1\_Wu]\bT1xa]Y\g1YV1�ZZYoSXUYZ1SZd1[ZX\]\]Z]_\TaUQ\]SXUoUXgh1�ZZYoSXUYZ1SZd1[ZX\]\]Z]_\TaUQ\]SXUo]1xaUZuUZjm]Z]\SXUYZ1YV1c_TUZ]TT1�d]ST{\Yt]WX1�d]ZXUVUWSXUYZQ\]SXUo]1[ZX]\\UT][ZaSZWUZj1Q\]SXUoUXg

! "#$%&'()*+,))-+./,0/,+,(/)1*0232456&7"%&&2%"$8%98%"%68&:792;27<=2>?@=29ABC227&DEEF56&6"7$2 !2G2<?CHIACH?J2$KL?BHLMNOPQRSPQOTNOPQRSPQOT2UVWOXQWYZ[XSVS\2NSY]O_Y2WWa2bQWXSXcVd2UVWOXde2fOgh]SY2NciXWhOX_Y2j2k2l2PVWOXde2mXWaWXQcnbWXo[WXh_Y2NOPQRSPQOTpbdhQWTW2UVWOXde2Ncq]W]]STa_Y2ZcVQWRW\WTP2NOPQRSPQOT2UVWOXde2q]SdPOTZ]aWXrWX_Y2stQYPWTcWe2uW]SPWaTWYY2STa2iXOPV2UVWOXd2vsuiwe2xQcPOX2xXOO\_Y2styWcPSTcd2UVWOXdezOXPWX2STa2{S]WX2NOaW]2Or2NOPQRSPQOT6"7$2 2G2%JCBL|BLJL}BHA~2<?CHIACH?JsTPXWyXWTWgXQS]2NOPQRSPQTh2mScPOXYZcVQWRW\WTP2NOPQRSPQOT�SnQTSaS2styWXQ\WTP6"7$2 �2G%JCBL|BLJL}BMKH|2�LIL~?|@LJC29B?�BA@@LM2�%�9M�sfzY2p2NWSTQTh2STa2�[�WcPQRWYWWa2rOX2sfzYuO]W2Or2sfzzVSYWY2Or2sfzYsfz2qgXXQcg]g\sRS]gSPQOT2Or2sfzY�PXSPWhd2rOX2sTYgXQTh2�gccWYY2Or2sfz

!"#$%&'()*+((,*-.+/.+*+'.(0)/1213345%6!$%%1$!#7$87$!$57%9681:166;<1=>?<18@AB116%CDDE45%5!6#1F1G$HBAIJAIHIKAL@M16HNL@OPQRSTRSPSURVWX1YPZVWOPQRSTRSPSUR[\VT1VP1]PVSPQ1YPZVWOPQRSTRSPSUR[\VT1VP1_RVQV[\1SRVaZOPQRSTRSPSUR[\VT1VP1Q\S1SRVaZ1ab1OW[Q1YPZVW1cadTWPeOPQRSTRSPSUR[\VT1bRad1fghi1Qa1fjkiOPQRSTRSPSUR[\VT1VP1a[QlYPZSTSPZSPS1SRVaZYdTWQ1ab1mXanWXVoWQVaPYdTWQ1ab1pqr5!6#1s1G$HBAIJAIHIKAtuLJ1@HN1$v>H>?Lv1wIxIM>J?IHByaXS1ab1OPQRSTRSPSUR[\VT1VP1OaPadV1zS{SXaTdSPQOPQRSTRSPSUR1W[1W1caPQRVnUQaR1Qa1Q\S1RaS[[1ab1OaPadV1mRa|Q\OPQRSTRSPSUR1W[1W1caPQRVnUQaR1Qa1Q\S1}QWnVXVQe1ab1OaPadeOPQRSTRSPSUR1W[1W1cRSWQaR1ab1OdTXaedSPQ1rTTaRQUPVQVS[OPQRSTRSPSUR1W[1WP1]~SPQ1ab1_WXWPSZ1yS~VaPWX1zS{SXaTdSPQ1ab1YPZU[QRVS[1WPZ1}aVWX1}QWnVXVQeOPQRSTRSPSUR1W[1W1caPQRVnUQaR1Qa1O�TaRQ1RadaQVaP1Ra~RWd1WPZ1�aRSV~P1O�\WP~S1OWRPVP~OPQRSTRSPSUR1W[1W1caPQRVnUQaR1Qa1YdTaRQ1}Un[QVQUQVaP1Ra~RWdOPQRSTRSPSUR1W[1W1}UTTXVSR1ab1�aWX1zSdWPZ5!6#1�1G$HBAIJAIHIKAtuLJ1@HN1$NKv@BL>H}QUZe1ab1OPQRSTRSPSUR[\VT1W[1W1[Un�SQOPQRSTRSPSUR[\VT1SZUWQVaPYdTaRQWPS1ab1OPQRSTRSPSUR[\VT1OZUWQVaPcaPQSPQ[1ab1OPQRSTRSPSUR[\VT1OZUWQVaPrn[QWXS[1Qa1OPQRSTRSPSUR[\VT1OZUWQVaP

!"#$%&'()*+((,*-.+/.+*+'.(0)/1213345%6!$%%1$!#7$87$!$57%9681:166;<1=>?<18@AB116%CDDE45%5!6#1F1G$BHIJK1@LM1%>JI@N17OKP>LKIQINIBIOK1>R1@L1$LBAOPAOLOSATUVWXYWXUXZW1[U\1]Z_UX1TV_ab[VZWX1cd1]Z_UX1TV_aeacYX1cd1TV_abXX\1cd1TV_a1_U1]Z_UXeca_[f1gXYcU_h_f_V_X1cd1[U1TUVWXYWXUXZWgcfX1cd1i__cUj1k__cU1[U\1lc\X1cd1lcU\ZaV5!6#1mG7OJOLB1#AOLMK1IL1$LBAOPAOLOSAKHIPnUVW[YWXUXZW_Yeca_[f1TUVWXYWXUXZW_YocpXU1TUVWXYWXUXZW_YgZW[f1TUVWXYWXUXZW_Y5!6#1q1G$LBAOPAOLOSAKHIP1rOsON>P?OLB1@LM1t>sOAL?OLB:6uU1vwXWw_Xx1cd1nU\ZVW_[f1ycf_a_X1_U1nU\_[z_wX{|X[W1yf[U5!6#1}1G$LBAOPAOLOSAKHIP1rOsON>P?OLB1@LM1t>sOAL?OLB1:166i_U_VW|1cd1ieiTeaXpX1cd1i~c1ieiTvdd_aX1cd1VX1�XwXfcYpXUV1lcpp__cUXW1�ieiT�eaXpX1[U\1yWc�W[ppXcd1v~c1�l�ieiT�5!6#1�G$LBAOPAOLOSAKHIP1rOsON>P?OLB1@LM1t>sOAL?OLB1:1666ycf_a|1_U_V_[V_wX1cd1VX1�cwXWUpXUV

! "#$%&'()*+,))-+./,0/,+,(/)1*02324456&7"%&&2%"$8%98%"%68&:792;277<=2>?@=29ABC227&DEEF56&6"7$2G2H7IJCKCLCK?IAM2&LNN?BC2O?B2<&<%J2;27PQRSTUQV2VWXWV2SUYRSRZRSTUY6"7$2 !2H7IJCKCLCK?IAM2&LNN?BC2[?B2<&<%J2;277\UYRSRZRSTUQV2YWR2Z]2T_2SUQUSQV2QYYSYRQUW\UYRSRZRSTUQV2YWR2Z]2T_2Wa]T_R2]_TbTRSTU6"7$2 2H7IJCKCLCK?IAM2&LNN?BC2[?B2<&<%J2;777\UcZYR_SWY2cW]Q_RbWURd2eTXW_UbWUR2T2fQgQ_QYgR_QhS_WRT_QRW2T2\UcZYR_SWY2ih\Yj2T2RgW2kRQRW2eTXW_UbWURfkfl2hWXWVT]bWUR2\UYRSRZRWd2fZbmQShSYR_SR2\UcZYR_SWY2nWUR_W\UcZYR_o2pWVQRWc2qTVSSWY2T2fQgQ_QYgR_Q2eTXW_UbWURfkfl2kgWbWY2T2fQgQ_QYgR_Q6"7$2 r2H 7IJCKCLCK?IAM2&LNN?BC2[?B2<&<%J2;7s\UcZYR_o2tYYTSQRSTUY\UYRSRZRSTUQV2kWRuZ]2T_2fQgQ_QYgR_Q2kRQRW

!"#$"#%&'()*+ ,('-'.(-/*%01)23*45*6'7(-8*6**9**,:'.)(4'1*-'7*%);:.):;2 +8+<=>= ?@ABCDEFAGC@**=>H**I@GA*JKLMFAGNMO**=>P**QE@FAGC@O*CR*QG@S@FGST*UVOAMW**=>X**UABEFAEBM*CR*?@DGS@*QG@S@FGSTUVOAMW*=>Y*ZCTM*S@D*UM[WM@AO*CR*QG@S@FGST*\SB]MAO**=>**UEWWSBV**=>_**MV*aMBWO*S@D*bGOA*CR*UMTMFAcKKBMNGSAGC@O*=>d*UMTR*cOOMOOWM@A*eEMOAGC@O*=>f**QEBAgMB*ZMSDG@[*S@D*ZMRMBM@FMO&'()*h ,('-'.(-/*%01)23*45*6'7(-*i*669*,('-'.(-/*-'7* -j()-/*k-;l2)6')2;327(-;(21*-'7*m2n2/4j32')1*('*,('-'.(-/*%01)23 +o8hpH>= ?@ABCDEFAGC@**H>H**I@GA*JKLMFAGNMO**H>P**QG@S@FGST*?@AMBWMDGSBGMO*S@D*?AO*ZCTM**H>X**qSrGAST*\SB]MA?@AMBWMDGSBGMO*S@D*?AO*ZCTM**H>Y**sMNMTCrWM@AO*G@*QG@S@FGST*UVOAMW**H>**UEWWSBV**H>_**MV*aMBWO*S@D*bGOACR*UMTMFA*cKKBMNGSAGC@OH>d*UMTR*tcOOMOOWM@A*eEMOAGC@O**H>f**QEBAgMB*ZMSDG@[*S@D*ZMRMBM@FMO&'()*u 6'7(-'*k4'20*k-;l2)869*,2-):;21v*,:'.)(4'1*-'7*6'1);:32')1hw8xhP>= ?@ABCDEFAGC@**P>H**I@GA*JKLMFAGNMO**P>P**QMSAEBMO*S@D*QE@FAGC@O*CR*\C@MV*\SB]MA**P>X**yS[ET*qCWWGAAMMZMrCBA*S@D*GAO*ZMFCWWM@DSAGC@O**P>Y**\C@MV*\SB]MA*?@OABEWM@AO*S@D*zSBAGFGrS@AO**P>Y>=**qSTT*S@D*{CAGFM\C@MV*\SB]MAP>Y>H**aMBW*\C@MV*\SB]MA**P>Y>P**aBMSOEBV*|GTTO*\SB]MA*P>Y>X**qCWWMBFGST*|GTTO*\SB]MAP>Y>Y**qMBAGRGFSAM*CR*sMrCOGAO*}qsO~**P>Y>**qCWWMBFGST*zSrMBO*}qzO~**P>Y>_*?@AMB*|S@]*zSBAGFGrSAGC@*qMBAGRGFSAM}?|zqO~**P>**UEWWSBV*P>_**MV*aMBWO*S@D*bGOA*CR*UMTMFA*cKKBMNGSAGC@O**P>d**UMTR*cOOMOOWM@A*eEMOAGC@OP>f**QEBAgMB*ZMSDG@[*S@D*ZMRMBM@FMO&'()*x 6'7(-'*k4'20*k-;l2)866*9 �2j4*k-;l2)v* ��!*-'7*611:21*('k4'20*k-;l2) xu8<�X>= ?@ABCDEFAGC@**X>H**I@GA*JKLMFAGNMO**X>P**ZMrC*?@OABEWM@A**X>P>=**�gV*ZMrC*sMSTO�**X>X**ZMrCBA*\SB]MAG@*?@DGS*X>X>=**\SB]MA*ZMrC**X>X>H**ZMrC*�GAg*Z|?*}bG�EGDGAV*cDLEOAWM@A*QSFGTGAV~***X>Y**qCTTSAMBSTG�MD|CBBC�G@[*S@D*bM@DG@[*JKTG[SAGC@O*}q|bJ~**X>**sGRRMBM@FM*KMA�MM@*ZMrC*sMSTO*S@D*q|bJ*aBS@OSFAGC@OX>_**qCWrSBGOC@*CR*ZMrC*sMSTO*�GAg*FSTT*\C@MV*S@D*q|bJ*aBS@OSFAGC@O**X>d**?OOEMO*G@*\C@MV*\SB]MA**X>fUEWWSBV**X>=�**MV*aMBWO*S@D*bGOA*CR*UMTMFA*cKKBMNGSAGC@O**X>==**UMTRtcOOMOOWM@A*eEMOAGC@O**X>=H**QEBAgMBZMSDG@[*S@D*ZMRMBM@FMO&'()*� 6'7(-'*m2�)*k-;l2)*69*m2�)*6'1);:32')1*-'7*�4n2;'32')*m2�)k-;l2) <+8o<Y>= ?@ABCDEFAGC@**Y>H**I@GA*JKLMFAGNMO**Y>P**aVrMO*CR*sMKA*?@OABEWM@AO***Y>X**�CNMB@WM@A*sMKA*\SB]MA**Y>X>=ZCTM*CR*AgM*Z|?*Y>X>H**zCTGFV*?@GAGSAGNMO*S@D*ZMRCBWO**Y>X>P**aVrMO*CR*�CNMB@WM@A*sMKA*UMFEBGAGMO**Y>X>XzBGWSBV*\SB]MA**Y>X>Y**UMFC@DSBV*\SB]MA**Y>X>**zSBAGFGrS@AO**Y>Y**?OOEMO*qC@FMB@MD*�GAg*�CNMB@WM@A*sMKA\SB]MA**Y>**UEWWSBV**Y>_**MV*aMBWO*S@D*bGOA*CR*UMTMFA*cKKBMNGSAGC@O**Y>d**UMTRtcOOMOOWM@A*eEMOAGC@OY>f QEBAgMB*ZMSDG@[*S@D*ZMRMBM@FMO&'()*< 6'7(-'*m2�)*k-;l2)866*9* 4;j4;-)2*m2�)*k-;l2) oo8w�>= ?@ABCDEFAGC@**>H**I@GA*JKLMFAGNMO**>P**?OOEMBO*CR*|C@DO**>P>=**|C@DO*?OOEMD*KV*zEKTGF*UMFACB*I@DMBAS]G@[O>P>H**|C@DO*?OOEMD*KV*QG@S@FGST*?@OAGAEAGC@O**>P>P**qCBrCBSAM*sMKM@AEBMO**>X**zBGWSBV*\SB]MA**>Y**UMFC@DSBV\SB]MA**>**?OOEMO*FC@FMB@MD*�GAg*?@DGS@*qCBrCBSAM*sMKA*\SB]MA**>>=**bSF]*CR*bG�EGDGAV*G@*BMOrMFA*CRWS@V*sMKA*?@OABEWM@AO*G@*AgM*UMFC@DSBV*\SB]MA**>>H**?@FBMSOG@[*AgM*{EWKMB*CR*zTSVMBO**>>P**{MMD*RCBqgS@[M*G@*cAAGAEDM*CR*ZMASGT*?@NMOACBO**>>X**?@@CNSAGNM*?@OABEWM@AO***>>Y**�BMSAMB*sGOFTCOEBM*G@*ZMOrMFACR*zBGNSAMTV*zTSFMD*sMKA*?@OABEWM@AO**>_***UEWWSBV**>d**MV*aMBWO*S@D*bGOA*CR*UMTMFA*cKKBMNGSAGC@O**>fUMTR*cOOMOOWM@A*eEMOAGC@O**>=�**QEBAgMB*ZMSDG@[*S@D*ZMRMBM@FMO&'()*o 6'7(-'*$�:()0*k-;l2)869*�;(3-;0*k-;l2) w+8++�_>= ?@ABCDEFAGC@**_>H**I@GA*JKLMFAGNMO**_>P**aVrMO*CR*UgSBMO**_>P>=**��EGAV*UgSBMO**_>P>H**{C@tNCAG@[*UgSBMO

!"!"##$%&'(#)*+,(-#$.'/&0## !"!1##2/&3&/&45&#$.'/&0## !1##600+&#73#$.'/&0#'(#2'/8#9,057+4(#'4:#2/&;,+; !< 2/,;'/-#='/>&(## !?##64,(,'@#2+A@,5#B33&/,4C#(./7+C.#D77>#D+,@:,4C#=&(.7:## ! ##9,33&/&45&#A&(%&&4D77>#D+,@:,4C#'4:#E7/;'@#2+A@,5#600+&## !F##G&07+/5&0#;7A,@,H&:#3/7;#2/,;'/-#='/>&(## !I##$+;;'/-## !JK##L&-#M&/;0#'4:#N,0(#73#$&@&5(#OAA/&P,'(,740## !JJ##$&@3#O00&00;&4(#Q+&0(,740## !JR##S+/(.&/#/&':,4C#'4:G&3&/&45&0TUVW#X YUZV[U#\]VW_# [abcWdYYe## [abcW#fghigjVWVgU#[UZ#kclgUZ[a_`[abcW mmmdmnoF!J 64(/7:+5(,74##F!R##p4,(#BAq&5(,P&0##F!"##='/>&(#r7;s70,(,74##F!1##$&574:'/-#='/>&(##F!<##9,33&/&45&A&(%&&4#2/,;'/-#='/>&(#t#$&574:'/-#='/>&(##F!?##M/':,4C#,4#)*+,(-#$.'/&0##F! ##=&'0+/&0#M'>&4#A-#(.&u7P&/4;&4(#73#64:,'#vuB6w#'4:#$)D6#(7#;'>&#)*+,(-#='/>&(#;7/&#)33,5,&4(##F!F$+;;'/-##F!I##L&-#M&/;0'4:#N,0(#73#$&@&5(#OAA/&P,'(,740##F!JK##$&@3xO00&00;&4(#Q+&0(,740##F!JJ##S+/(.&/#/&':,4C#'4:#G&3&/&45&0TUVW#y zgacV{U#\|l}[U{c# [abcW#VU#YUZV[ mn~dm�nI!J 64(/7:+5(,74##I!R##p4,(#BAq&5(,P&0##I!"##S&'(+/&0#73#S7/&,C4#)�5.'4C&#='/>&(###I!1##='/>&(#2'/(,5,s'4(0I!<##)�5.'4C&#G'(&#Q+7('(,740�#9,/&5(#P�0#64:,/&5(#Q+7(&0#I!?##9&'@,4C0#,4#S7/&,C4#)�5.'4C&#='/>&(##I! $,H&#73#S7/&,C4#)�5.'4C&#='/>&(##I!F##$+;;'/-##I!I##L&-#M&/;0#'4:#N,0(#73#$&@&5(#OAA/&P,'(,740##I!JK##$&@3O00&00;&4(#Q+&0(,740##I!JJ##S+/(.&/#G&':,4C#'4:#G&3&/&45&0TUVW#m� fghhcalV[�#�[Ubj#d#Y#e#�g�c�#zUlWVgUj�#kWalWac#[UZ#�c�gahjm��dmo�JK!J64(/7:+5(,74##JK!R##p4,(#BAq&5(,P&0##JK!"##G7@&#73#r7;;&/5,'@#D'4>0##JK!1##S+45(,740#73#r7;;&/5,'@D'4>0##JK!<##E'(,74'@,H'(,74#73#r7;;&/5,'@#D'4>0#,4#64:,'##JK!?##$(/+5(+/&#73#64:,'4#r7;;&/5,'@#D'4>,4C$-0(&;##JK! ##G&37/;0#,4#(.&#D'4>,4C#$-0(&;##JK!F##$+;;'/-##JK!I##L&-#M&/;0#'4:#N,0(#73#$&@&5(#OAA/&P,'(,740JK!JK $&@3#O00&00;&4(#Q+&0(,740##JK!JJ##S+/(.&/#G&':,4C#'4:#G&3&/&45&0TUVW#mm fghhcalV[�#�[Ubjd#YY#e#�[Wac#g�#�jVUcjj momdmX�JJ!J64(/7:+5(,74##JJ!R##p4,(#BAq&5(,P&0##JJ!"##E'(+/&#73#r7;;&/5,'@#D'4>,4C#A+0,4&00##JJ!"!J##9&s70,(#'4:N7'4#2/7:+5(0##JJ!"!R##E74x3+4:#A'0&:#3'5,@,(,&0##JJ!"!"##2/,7/,(-#$&5(7/#N&4:,4C##JJ!"!1##2/+:&4(,'@#E7/;037/#5/&:,(#27/(37@,7##JJ!1##=',4(&4'45&#73#r'0.#G&0&/P&#G'(,7#vrGGw#'4:#$('(+(7/-#N,*+,:,(-#G'(,7#v$NGwJJ!<##64P&0(;&4(#27/(37@,7##JJ!?##$+;;'/-##JJ! ##L&-#M&/;0#'4:#N,0(#73#$&@&5(#OAA/&P,'(,740JJ!F$&@3#O00&00;&4(#Q+&0(,740#JJ!I##S+/(.&/#G&':,4C#'4:#G&3&/&45&0TUVW#mn fghhcalV[�#�[Ubjd#YYY#e#zgah[W#g�#zVU[UlV[�#kW[WchcUWj�#zVU[UlV[��ca�gah[Ulc#[UZ#�[jc�#�llgaZj mXmdmy~JR!J64(/7:+5(,74##JR!R##p4,(#BAq&5(,P&0##JR!"##S7/;'(#73#D'4>#D'@'45&#$.&&(#'4:#2/73,(#t#N700#O557+4(JR!1D+0,4&00#'4:#S,4'45,'@#2&/37/;'45&#73#r7;;&/5,'@#D'4>0#JR!<##D'0&@#O557/:#68#66#t#666###JR!?##$+;;'/-JR! L&-#M&/;0#'4:#N,0(#73#$&@&5(#OAA/&P,'(,740##JR!F##$&@3#O00&00;&4(#Q+&0(,740##JR!I##S+/(.&/#G&':,4C'4:#G&3&/&45&0

!"#"$!#%&'#()*+,&-&.",+!+/+!0",&!"&."1!#2344567278.9&: ;<=<>[email protected]?&658B2&.8&.8C.5=.&D&29@7;97@?&58C&7@658;<=<>[email protected]?&658B2EFGHIJGIHK&LM&NLOLPKHQGRSK&TQUVWEXRMMKHKUJK&YKGZKKU&NL[[KHJRQ\&TQUVW&QU]&NLOLPKHQGRSK&TQUVWE HYQU&NLOLPKHQGRSK&TQUVW78.9&_ ;<=<>[email protected]?&658B2&.8&.8C.5=..&D&29@7;97@?&< ;<=<>[email protected]?&658B2&.8&@7@54&5@?5&58C&>@<64?'2EFGQGK&NLOLPKHQGRSK&YQUVWEXRWGHRJG&NKUGHQ\&NLOLPKHQGRSK&TQUVWEFGQGK&NLOLPKHQGRSK&aHRJI\GIHQ\&QU]&bIHQ\&XKSK\LP[KUG&TQUVWEcHLY\K[W&LM&NLOLPKHQGRSK&TQUVW78.9&d C?A?4<>'?89& .858;.54&.829.979.<82=.D& 78;9.<82&58C29@7;97@?&58C&>@< .4?&< &859.<854&e<72.8f&658B&g8e6h58C&2'544&.8C729@.?2&C?A?4<>'?89&658B&< &.8C.5&&g2.C6.hEiIUJGRLUW&LM&Q&XKSK\LP[KUG&iRUQUJRQ\&jUWGRGIGRLUEXRWGRUaIRWk&TKGZKKU&Q&XKSK\LP[KUG&iRUQUJRQ\&jUWGRGIGRLU&QU]&NL[[KHJRQ\&TQUVlEmSL\IGRLU&LM&XKSK\LP[KUG&iRUQUJRQ\&jUWGRGIGRLUW&RU&jU]RQlEFGHIJGIHK&QU]&PHLMR\K&LM&XKSK\LP[KUG&iRUQUJRQ\&jUWGRGIGRLUW&RU&jU]RQnEoQGRLUQ\&pLIWRUa&TQUV&qopTrEF[Q\\&jU]IWGHRKW&XKSK\LP[KUG&TQUV&LM&jU]RQ&qFjXTjr78.9&s C?A?4<>'?89& .858;.54&.829.979.<82&..D&>@< .4?&< ?t><@9&58C&.'><@9&658B&< &.8C.5&g?t.'&658Bh&58C859.<854&658B& <@&5f@.;7497@?&58C&@7@54&C?A?4<>'?89g8565@Ch&58C&>?@ <@'58;?&< & .858;.54&.829.979.<82EmuPLHG&QU]&j[PLHG&TQUV&LM&jU]RQ&qmvjw&TQUVrEoQGRLUQ\&TQUV&MLH&aHRJI\GIHK&QU]&bIHQ\&XKSK\LP[KUG&qo T bXrEiRUQUJKW&QU]&cKHMLH[QUJK&LM&XKSK\LP[KUG&iRUQUJRQ\&jUWGRGIGRLUW78.9&x 8<8=658B.8f& .858;?&;<'>58.?2&g86 ;2h&.&D&;4522. .;5=9.<8y&8597@?&< &672.8?22&58C&>@7C?89.54&8<@'2EbTjzW&bL\K&QU]&{Y|KJGRSKWENQGKaLHRKW&LM&oTiNW&bKaRWGKHK]&ZRGk&GkK&bTj

!"#$$%&%'#(%)*+)&+,-.!$+%*+/012$+)&+-3$%*0$$ 4''05(#*'0+)&+637"%'+805)$%($+79+,-.!$+:0;%$(010<+=%(>+(>0+:-?@ -3$%*0$$+)&+,-.!$+A*;#;0<+%*+B0#$%*;C+D%10+631'>#$0+#*<+.#'()1%*;+E01F%'0$ :-?G$+613<0*(%#"+,)12$+&)1+,-.!$HIJK+L IMINOPIQJIR+SJIPITU+TMVWPIJUX+YJJ+Z++WU[SM[VPITU+MSIOSTX+PI\+]MHXJIR+SJIPITU++TMVWPIJUX+]STX_ 61)&%"0+#*<+601&)12#*'0+)&+805)$%(+/#%*;+,-.!$ D)3$%*;+.%*#*'0+!)25#*%0$+aD.!$b -#*+.%*#*'0+()+,-.!$HIJK+c VP[QUK+SM[+PXXUK+XUTH[JKJdPKJMI E0'31%(%e#(%)*f+g0#*%*;+#*<+E')50 -0*0&%($+)&+E0'31%(%e#(%)* E0'31%(%e#(%)*+E(13'(310f+61)'0$$+#*<+g0'>#*%$2 :)"0+)&+6#1(%0$+%*F)"F0<+%*+$0'31%(%e#(%)*+(1#*$#'(%)* /950$+)&+4$$0(+E0'31%(%e#(%)* /950$+)&+E0'31%(%0$+()+70+%$$30< :-?G$+h3%<0"%*0$+)*+4$$0(+E0'31%(%e#(%)* ?*(01*#(%)*#"+Ai501%0*'0+#*<+h1)=(>+)&+4$$0(+E0'31%(%e#(%)*+%*+?*<%#+g#10(HIJK+j VP[QUK+SM[+SPTKM[JIR+PI\+SM[SPJKJIR+W[M\HTKX .#'()1%*;+E01F%'0$f+g0#*%*;C+.3*'(%)*$+#*<+/950$ -0*0&%($+)&+.#'()1%*;+E01F%'0$ g0'>#*%$2+)&+.#'()1%*;+E01F%'0$ !)$(+)&+.#'()1%*; Ai5)1(+.#'()1%*; :-?+h3%<0"%*0$+)*+.#'()1%*;+E01F%'0$ .#'()1%*;+E01F%'0$+%*+?*<%# .)1&#%(%*;f+g0#*%*;+#*<+.0#(310$ -0*0&%($+)&+.)1&#%(%*; g0'>#*%$2+)&+.)1&#%(%*;+E01F%'0$ .)1&#%(%*;+E01F%'0$+%*+?*<%# 8%&&010*'0+70(=00*+&#'()1%*;+#*<+&)1&#%(%*;+$01F%'0$ !)*'"3$%)*HIJK+k VHKHPl+SHI\X g3(3#"+.3*<$f+!)*'05(+#*<+E(13'(310

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a$,%$&.:/,/M$ !"#$%&'(&a$,%$%b&.:/,/M:,-&2W%&V#$K,+:/3&a$,%$% J-,%%:(:M,+:'/&'(&a$,%$%&6,%$0&'/&V+O$K&Q,K,P$+$K% 102,/+,3$%&,/0&a:P:+,+:'/%&'(&a$,%$&.:/,/M$ Q,K+:M:#,/+%&:/&7/0:,/&a$,%:/3&),KY$+ c:K$&Q*KMO,%$&.:/,/M$ R:(($K$/M$&d$+e$$/&a$,%$&,/0&c:K$&Q*KMO,%$&.:/,/M$ 4+K*M+*K:/3&,/0&QK:M:/3&'(&,&a$,%$&.:/,/M$ 1MM'*/+:/3&,/0&!,X&1%#$M+&'(&a$,%$&,/0&c:K$&Q*KMO,%$&.:/,/M$

!"#$"#%#!&' () '*+,-./0+1-*(+-( -2+(300-/*+1*45"'#() -2+( -*067+2 )89:;<=>?@ABCDE@FB?((;<;((G?F@(HIJKE@FLKM((;<N((OBM@(OB?EKP@M((;<N<;((OBM@((;<N<N((OBM@F?Q((;<N<R((OBM@(SEEBD?@F?Q;<N<T((OBM@(SEEBD?@U?EV((;<R((WFXF@U@FB?M(BY(ZF?U?EFU[(SEEBD?@F?Q((;<T((\U@DAK(BY(OBM@(SEEBD?@F?Q((;<]HIJKE@FLKM(BY(OBM@(SEEBD?@F?Q((;<((SCLU?@UQKM(BY(OBM@(SEEBD?@F?Q((;<_((WFXF@U@FB?M(BY(OBM@(SEEBD?@F?Q((;<aFYYKAK?EK(IK@bKK?(ZF?U?EFU[(SEEBD?@F?Q(U?C(OBM@(SEEBD?@F?Q((;<c((OBM@(G?F@(U?C(OBM@(OK?@AKM((;<;=dDXXUAV(((;<;;eKV(fKAXM((;<;N((gDKM@FB?M(h(ijKAEFMKM((;<;R((ZDA@kKA(lKUCF?Q5"'#(9 $m6n6*+2(-o( -2+ 9p8qrN<=>?@ABCDE@FB?((N<;((G?F@(HIJKE@FLKM((N<N((i[KXK?@M(BY(EBM@((N<N<;((sU@KAFU[t(WUIBDA(U?C(ijPK?MKM((N<N<NsU@KAFU[(u(CFAKE@(U?C(F?CFAKE@((N<N<R((WUIBDA(u(CFAKE@(U?C(F?CFAKE@((N<N<T((ijPK?MKM(u(CFAKE@(U?C(F?CFAKE@((N<RHLKAkKUCM(U?C(@VPKM(BY(BLKAkKUCM((N<T((>@KXM(KjE[DCKC(YBAX(EBM@((N<]((aFLFMFB?(BY(EBM@M((N<((O[UMMFYFEU@FB?BY(EBM@M((N<_((sK@kBCM(BY(EBM@(E[UMMFYFEU@FB?((N<((dDXXUAV((N<c((eKV(fKAXM((N<;=((gDKM@FB?M((N<;;(ZDA@kKAlKUCF?Q5"'#(v -2+(%w66+2(x*.(y/-+x+1-*2 q)8)r9R<=>?@ABCDE@FB?((R<;((G?F@(HIJKE@FLKM((R<N((OBM@(dkKK@((R<N<;((zDAPBMK(BY(OBM@(MkKK@((R<N<N(zABYBAXU(BYMFXP[K(EBM@(MkKK@((R<N<R((zABYBAXU(BY(EBXP[Kj(EBM@(MkKK@((R<R((dDXXUAV([FM@((R<T((>[[DM@AU@FB?M((R<]((gDB@U@FB?MU?C(F@M(PAKPUAU@FB?((R<((>[[DM@AU@FB?M(B?(PAKPUAU@FB?(BY({DB@U@FB?((R<_((dDXXUAV((R<((eKV(fKAXM((R<cgDKM@FB?M(U?C(ijKAEFMKM((R<;=((ZDA@kKA(lKUCF?Q#!&' (9 (|x+6,1xm( -2+1*45"'#(} |6x*1*4(-o(|x+6,1xm(x*.(&/,0wx21*4 )rq8))vT<=>?@ABCDE@FB?((T<;((G?F@(HIJKE@FLK((T<N((sKU?F?Q(BY(XU@KAFU[M((T<R((fVPKM(BY(XU@KAFU[M((T<T((zDAEkUMK(BYXU@KAFU[M((T<T<;((aKEFMFB?(BY(PDAEkUMF?Q((T<T<N((OK?@AU[FMKC(U?C(CKuEK?@AU[FMKC(PDAEkUMF?Q((T<]((zDAEkUMKlK{DFMF@FB?((T<((dK[KE@FB?(BY(MDPP[FKA((T<_((z[UEF?Q(BACKA(bF@k(@kK(MDPP[FKA(T<((dDXXUAV((T<c((eKV(fKAXM((T<;=gDKM@FB?M(((T<;;((ZDA@kKA(lKUCF?Q5"'#(q ~60617+(x*.(%+-,x46(-o(|x+6,1xm2 ))q8)9p]<=>?@ABCDE@FB?((]<;((G?F@(BIJKE@FLK((]<N((lKEKFP@(BY(XU@KAFU[M((]<N<;((OkKE�F?Q({DU?@F@V(U?C({DU[F@V(BYXU@KAFU[M(AKEKFLKC((]<N<N((aBEDXK?@M(EB??KE@KC(bF@k(AKEKFP@(U?C(�KAFYFEU@FB?(BY(XU@KAFU[MAKEKFLKC((]<Rd@BAUQK(BY(sU@KAFU[M((]<R<;((WBEU@FB?(BY(M@BAK((]<R<N((HAQU?FMU@FB?(BY(M@BAKM((]<R<R((O[UMMFYFEU@FB?(U?C(EBCFYFEU@FB?BY(XU@KAFU[M((]<R<T((�F?M(U?C(�F?(OUACM((]<R<]((lKEBACF?Q(BY(XU@KAFU[M(F?(M@BAKM((]<T((dDXXUAV(((]<]((eKVfKAXM((]<((gDKM@FB?M((]<_((ZDA@kKA(lKUCF?Q5"'#(: -*+,-m(!�6,(|x+6,1xm2(1*(2+-,62 )9�8):r<=>?@ABCDE@FB?((<;((G?F@(HIJKE@FLK((<N((OB?@AB[(BLKA(XU@KAFU[M(F?(M@BAKM((<R((ZFjU@FB?(BY(M@BE�([KLK[M(((<TiEB?BXFE(HACKA(gDU?@F@V(�iHg�((<]((d@BE�(@U�F?Q((<]<;((sK@kBCM(BY(M@BE�(@U�F?Q((<((aFMEAKPU?EFKM(U?C@AKU@XK?@(BY(CFMEAKPU?EFKM((<_((dDXXUAV((<((eKV(fKAXM((<c((gDKM@FB?M(U?C(KjKAEFMKM((<;=((ZDA@kKAlKUCF?Q5"'#(p '22/6(-o(|x+6,1xm2 ):)8):p_<=>?@ABCDE@FB?((_<;((G?F@(HIJKE@FLKM((_<N((>MMDK(BY(XU@KAFU[M((_<R((zABEKCDAK(YBA(FMMDK(BY(XU@KAFU[M((_<TaBEDXK?@M(AK[U@KC(@B(FMMDK(BY(XU@KAFU[M((_<]((OUAK(@B(IK(@U�K?(bkF[K(FMMDF?Q(XU@KAFU[M((_<((dDXXUAV((_<_((eKVfKAXM((_<((gDKM@FB?M((_<c((ZDA@kKA(lKUCF?Q5"'#(� &,101*4(-o(|x+6,1xm('22/6. ):�899)<=>?@ABCDE@FB?((<;((G?F@(BIJKE@FLKM((<N((zAFEF?Q(BY(XU@KAFU[M(FMMDKC((<R((sK@kBCM(DMKC(YBA(PAFEF?Q(BY(FMMDKM

!"!#$$%&'($)*+,-$.-(/&0'$$ !"!1$$23-*45-$6*+,-$.-(/&0'$$ !"!"$$7&(+&849$6*+,-$.-(/&0'$$ !:$$;<)&*(48()&+8('$*-94(-0$(&$<4(-*+49'$,&'(+85$,&8(*&9$$ !=$$>?<<4*@$$ !A$$B-@$C-*<'$$ !D$$E?-'(+&8'$480$-F-*,+'-'$$ ! G?*(/-*$H-40+85IJKLM$NOPQRST$MRUVWXYZ[LI$\] PXWXY$PX_$IaU$Rb$OPQRST ccNdceef!g;8(*&0?,(+&8$$f!#$$h8+($ijk-,(+3-'$$f!1$$.-48+85$480$;<)&*(48,-$&l$94j&?*$$f!"$$C@)-'$&l$94j&?*$$f!"!#m+*-,($n4j&?*$$f!"!1$$;80+*-,($n4j&?*$$f!"!"$%4'?49$n4j&?*-*'$$f!"!:$$i?($o&*p-*'$$f!"!=$C@)-'$&l$q&*p-*'&8$(/-$j4'+'$&l$'p+99$$f!:$$>-,(+&8'$r$0-)4*(<-8('$0-49+85$q+(/$94j&?*$4,(+3+(+-'$f!=$$n4j&?*$(?*8&3-*$$f!=!#.-4'?*-<-8($&l$94j&?*$(?*8&3-*$$f!=!1$%4?'-'$&l$94j&?*$(?*8&3-*$$f!=!"$%&'($&l$n4j&?*$(?*8&3-*$f!=!:C*-4(<-8($&l$94j&?*$(?*8&3-*$,&'('$$f!=!=$$;99?'(*4(+&8'$&8$94j&?*$(?*8&3-*;99?'(*4(+&8'$&8$94j&?*$(?*8&3-*$$f!A>?<<4*@$$f!D$$B-@$C-*<'$$f! $$E?-'(+&8'$480$sF-*,+'-'$$f!f$$G?*(/-*$H-40+85Z[LI$tuIWv $w aWXY cexdcxN#g!g$$;8(*&0?,(+&8$#g!#$$h8+($&jk-,(+3-'$$#g!1$$C+<-$p--)+85$$#g!1!#$.-48+85$480$+<)&*(48,-$$#g!1!1$$.-(/&0'&l$(+<-$p--)+85$#g!"$>?<<4*@$#g!:$$B-@$C-*<'$#g!=$E?-'(+&8'$#g!A$G?*(/-*$H-40+85Z[LI$ttIWv $yRRzWXY cxxdc{e##!g$$;8(*&0?,(+&8$$##!#$$h8+($ijk-,(+3-'$$##!1$$C+<-$|&&p+85$$##!1!#$$.-48+85$480$7-,-''+(@$$##!1!1$$.-(/&0'&l$$(+<-$j&&p+85$##!"$>?<<4*@$##!:$B-@$C-*<'$##!=$E?-'(+&8'$##!A$G?*(/-*$H-40+85Z[LI$tc}~RX~W�WPVWRX$Rb$IWv $waV$PX_$IWv $yRRz_ c{xdc�t#1!g$;8(*&0?,(+&8$#1!#$h8+($ijk-,(+3-'$#1!1$H-,&8,+9+4(+&8$&l$(+<-$p-)($480$(+<-$j&&p-0$#1!"$$;09-$(+<-$480$+('(@)-'$$#1!:$$%4?'-'$&l$+09-$(+<-$#1!=$%&'($480$(*-4(<-8($&l$+09-$(+<-$,&'($#1!A$>?<<4*@$#1!D$B-@$C-*<'$#1! E?-'(+&8'$#1!f$G?*(/-*$H-40+85

!"#$"#%#&'()*+ ,-.&/0* &12(3453(2*+ 6728&91*&:*;7</370-2(&3 +=+>?@ABCDEFGHIDJFC**?@?**KCJD*LMNOIDJPOQ**?@R**SOTCJCU*FV*EOWHCOETDJFC**?@XSODYFGQ*FV*EOWHCOETDJFC*?@X@?ZTIDFEQ*TVVOIDJCU*QO[OIDJFC*FV*WODYFG*?@X@R*\JWO*ETDO*WODYFG*?@X@X**]JOIO*ETDO*WODYFG*?@*B[[HQDETDJFCQ*FC\JWO*ETDO*TCG*_JOIO*ETDO*WODYFGQ*?@*aHWWTEb*?@c*dOb*\OEWQ*?@e*fHOQDJFCQ*TCG*ghOEIJQO*?@i*ZHEDYOEjOTGJCU53(2*k l3)732(m7*no-31 +p=q>R@ABCDEFGHIDJFC*R@?*KCJD*LMNOIDJPOQ*R@R*BCIOCDJPO*][TCQ*r*WOTCJCU*TCG*COIOQQJDb*R@X*sJVVOEOCD*JCIOCDJPO*_[TCQR@X@?*tT[QOb*JCIOCDJPO*_[TC**R@X@R*tT[QOb*u*vOJE*JCIOCDJPO*_[TC**R@X@X*jFvTC*JCIOCDJPO*_[TC*R@X@**\Tb[FEwQGJVVOEOCDJT[*vTUO*ETDO*QbQDOW**R@X@**gWOEQFCwQ*JCIOCDJPO*_[TC*R@*aHWWTEb*R@*dOb*\OEWQ*R@c*fHOQDJFCQTCG**ghOEIJQOQ*R@e*ZHEDYOE*jOTGJCU53(2*q n07'-0-2(&3*&:*x-47*%87721*-39*n-y*=*;&oo1 qp=z>X@ABCDEFGHIDJFC*X@?*KCJD*LMNOIDJPOQ*X@R*{TUO|QYOODQ*TCG*_Tb|EF[[Q*|*WOTCJCU*X@X*}OIOQQJDb*TCG*JW_FEDTCIOX@*]EO_TETDJFC*FV*vTUO|QYOODQ*TCG*_Tb|EF[[Q*X@*\b_OQ*FV*VETHGQ*TCG*DYOJE*_EOPOCDJFC*X@c*~FCDEF[*FC*[TMFHEIFQD*X@eaHWWTEb*X@i*dOb*\OEWQ*X@�*fHOQDJFCQ**X@?A*ZHEDYOE*jOTGJCU#&'()*k $�'7317153(2**z 67-3(34*-39*�7:(3(2(&3 zp=�k@ABCDEFGHIDJFC**@?*KCJD*LMNOIDJPOQ*@Rgh_OCQOQ**|*WOTCJCU**TCG**GOVJCJDJFC*@X\b_OQ**FV**gh_OCQOQ*@X@?sJEOID*Oh_OCQOQ@X@R*BCGJEOID**Oh_OCQOQ**@*aHWWTEb*@*dOb*\OEWQ*@c*fHOQDJFCQ*TCG*ghOEIJQOQ*@eZHEDYOE*jOTGJCU#&'()*q !m7087-9153(2*� o-11(:()-2(&3*!m7087-91 �q=>>@ABCDEFGHIDJFC*@?*KCJD*LMNOIDJPOQ**@RSOTCJCU*TCG*GOVJCJDJFC*FV*FPOEYOTGQ*@X*~[TQQJVJITDJFC*FV*FPOEYOTGQu*WOTCJCU*TCG*COIOQQJDb*@*SODYFGQ*FV*I[TQQJVJITDJFC*FV*FPOEYOTGQ*@@?*~[TQQJVJITDJFC*TIIFEGJCU*DF*VHCIDJFC@@R*~[TQQJVJITDJFC*TIIFEGJCU*DF*O[OWOCDQ**@@X*~[TQQJVJITDJFC*TIIFEGJCU*DF*MOYTPJFE*FE*PTEJTM[J[JDb*@*aHWWTEb@c*dOb*\OEWQ*@e*fHOQDJFCQ*@i*ZHEDYOE*jOTGJCU53(2*> &oo7)2(&3*-39* &9(:()-2(&3 >p=pzc@ABCDEFGHIDJFC*c@?*KCJD*LMNOIDJPOQ*c@R*~F[[OIDJFC*|*WOTCJCU*TCG*QFHEIOQ*c@X*~FGJVJITDJFC*FV*FPOEYOTGQ*c@X@?SOTCJCU*TCG*COIOQQJDb*c@X@R*SODYFGQ*FV*IFGJVJITDJFC*FV*FPOEYOTGQ*c@*aHWWTEb*c@*dOb*\OEWQ*c@c*fHOQDJFCQc@e*ZHEDYOE*jOTGJCU53(2*p �oo&)-2(&3�*�(120(./2(&3*-39*n0(<-0y*�(120(./2(&3 p�=��e@ABCDEFGHIDJFC*e@?**KCJD*LMNOIDJPOQ*e@RaDTUOQ*JC*TMQFE_DJFC*FV*FPOEYOTGQ*e@X*�[[FITDJFC*FV*FPOEYOTGQ*e@sJQDEJMHDJFC*FV*FPOEYOTGQ*e@*]EJWTEb*GJQDEJMHDJFC*FV*FPOEYOTGQ*e@c**aHWWTEb*e@edOb*\OEWQ*e@i**fHOQDJFCQTCG*ghOEIJQOQ*e@�*ZHEDYOE*jOTGJCU53(2*� %7)&39-0y*�(120(./2(&3*&:*!m7087-91 �+=+k�i@ABCDEFGHIDJFC*i@?*KCJD*LMNOIDJPOQ*i@R*aOIFCGTEb*sJQDEJMHDJFC*FV*LPOEYOTGQ*i@R@?*}FC|EOIJ_EFIT[*MTQJQ*FVT__FEDJFCWOCD*i@R@R*jOIJ_EFIT[*MTQJQ*FV*T__FEDJFCWOCD*i@X*SODYFGQ*HQOG*VFE*QOIFCGTEb*GJQDEJMHDJFC*FV*FPOEYOTGQ*i@X@?*aJWH[DTCOFHQ*g�HTDJFC*SODYFG*i@X@R**jO_OTDOG*sJQDEJMHDJFC*SODYFG*i@X@X*\EJT[*TCG*gEEFE*SODYFG*i@aHWWTEb*i@*dOb*\OEWQ*i@c*fHOQDJFCQ*TCG*ghOEIJQOQ*i@e*ZHEDYOE*jOTGJCU

!"#$% &'()*+#")!$),$-./*0/12(3$&'()*+#")!$),$415#)*6$-./*0/12(78%97:;<=>?@ABCDEFAGC@$<=H$I@GA$JKLMFAGNMO$<=P$QKOCBRAGC@$$CS$$CNMBTMUDO$$<=P=H$QFAEUV$JNMBTMUD$WUAM$$<=P=P$XBMYDMAMBZG@MD$JNMBTMUD$WUAM$<=[$\MATCDO$CS$$UKOCBRAGC@$CS$$CNMBTMUDO$<=]$\MATCDO$$CS$$UKOCBRAGC@$CS$SUFACBCNMBTMUDO$<=]=H$XMBFM@AU_M$CS$DGBMFA$ZUAMBGUVO$FCOA$$<=]=P$XMBFM@AU_M$CS$DGBMFA$U_MO$$<=]=[$$XMBFM@AU_M$CSRBGZM$FCOA$$<=]=]$aGBMFA$VUKCEB$TCEB$BUAM$<=]=b$\UFTG@M$TCEB$BUAM$<=]=c$WUAM$XMB$E@GA$CS$RBCDEFAGC@$$<=bdEZZUB$$<=c$eM$fMBZO$<=g$$hEMOAGC@O$U@D$ijMBFGOM$<=k$lEBATMB$WMUDG@_ !"#$7m &'()*+#")!$),$-,,"5/$1!2$&2n"!"(#*1#")!$1!2$o/pp"!q$1!2$r"(#*"'s#")!-./*0/12( 7:t97u8H>=>?@ABCDEFAGC@$$H>=H$I@GA$JKLMFAGNMO$$H>=P$$\MATCDO$CS$$UKOCBRAGC@$CS$CSSGFM$U@D$UDZG@GOABUAGC@$CNMBTMUDOH>=P=H$XMBFM@AU_M$CS$$CBvO$w$SUFACB$FCOA$H>=P=P$$XMBFM@AU_M$CS$OUVMO$$H>=P=[$$QRRCBAGC@ZM@A$KMAMM@ZU@ESUFAEBG@_$U@D$OMVVG@_$DGNGOGC@O$$H>=P=]$$fBU@OSMB$AC$FCOAG@_$XBCSGA$U@D$xCOO$QFFCE@A$H>=[$$\MATCDO$CSUKOCBRAGC@$CS$OMVVG@_$U@D$DGOABGKEAGC@$CNMBTMUDO$$H>=[=H$$WUAM$RMB$E@GA$$H>=[=P$XMBFM@AU_M$CS$OMVVG@_$$RBGFMH>=[=[$$XMBFM@AU_M$CS$CBvOwSUFACB$FCOA$$H>=]$dEZZUB$H>=b eM$fMBZO$H>=c$$hEMOAGC@O$H>=g$lEBATMBWMUDG@_ !"#$77 !2/*$1!2$-./*$&'()*+#")!$),$-./*0/12( 7uy97z;HH=>?@ABCDEFAGC@$HH=H$I@GA$JKLMFAGNMO$$HH=P$\MU@G@_$CS$E@DMB$U@D$CNMB$UKOCBRAGC@$CS$CNMBTMUD$HH=[$${UEOMOCS$E@DMB$U@D$CNMB$UKOCBRAGC@$HH=]$fBMUAZM@A$CS$E@DMB$U@D$CNMB$UKOCBRAGC@$HH=b$?VVEOABUAGC@O$HH=c$$dEZZUBHH=geM$fMBZO$HH=k hEMOAGC@O$U@D$ijMBFGOMO$HH=<$lEBATMB$WMUDG@_ !"#$78 o)n/$o+/5"1p$|#/n($),$-./*0/12( 7zt98m7HP=>?@ABCDEFAGC@$$HP=H$I@GA$CKLMFAGNMO$HP=P$dRMFGUV$GAMZO$CS$CNMBTMUDO$U@D$ABMUAZM@A$AC$KM$_GNM@$AC$ATMZHP=P=H ?@AMBMOA$C@$FURGAUV$HP=P=P$${UOT$DGOFCE@A$HP=P=[$XUFvG@_$MjRM@OMO$HP=P=]$aMSMFAGNM$CB$ORCGVMD$CBv$$HP=P=b$$aMRBMFGUAGC@$$HP=P=c$$JKOCVMOFM@FM$VCOO$$HP=P=g$?DVM$FURUFGA$FCOA$$HP=P=k$WMOMUBFT$U@D$DMNMVCRZM@AFCOA$$HP=P=<${COA$CS$SBG@_M$KM@MSGAO$AC$MZRVCMMO$$HP=P=H>$aBUG@_$U@D$DMOG_@G@_$CSSGFM$FCOA$$HP=P=HH$$ijRM@OMOCS$FCOA$UFFCE@AG@_$DMRUBAZM@A$$HP=[$$dEZZUB$HP=]$eM$fMBZO$$HP=b$$hEMOAGC@O$$HP=b$$lEBATMB$WMUDG@_

!"#$"#%#!&' () '*+,-./0+1-*(+-(23*34565*+(700-/*+1*48"'#() 253*1*4(3*.(95:1*1+1-*(-:(23*34565*+(700-/*+1*4 );)<=>?((@ABCDEFGBHDA(((=>=((IAHB(JKLMGBHNMO((=>P((QMRAHAS(RAE(TMUHAHBHDAO(DU(QRARSMVMAB(WGGDFABHAS((=>P>=((XYRCRGBMCHOBHGODU(QRARSMVMAB(WGGDFABHAS((=>Z(([MME(RAE(@V\DCBRAGM(DU(QRARSMVMAB(WGGDFABHAS((=>]((JKLMGBHNMO(DU(QRARSMVMABWGGDFABHAS=>((_GD\M(DU(QRARSMVMAB(WGGDFABHAS((=>(((aFAGBHDAO(DU(QRARSMVMAB(WGGDFABHAS(((=>b((_FVVRCc=>d((eMc(fMCVO=>g((hFMOBHDAO(RAE(ijMCGHOMO((=>=?((aFCBYMC(kMREHAS8"'#(l m1*3*013n(700-/*+1*4o( -p+(700-/*+1*4(3*.(23*34565*+(700-/*+1*4)q;rsP>?@ABCDEFGBHDA((P>=(((IAHB(JKLMGBHNM((P>P((tYROMO(HA(BYM(iNDuFBHDA(DU(WGGDFABHAS(((P>Z((IOM(DU(WGGDFABHAS(@AUDCVRBHDAP>Z>=((W\\uHGRBHDA(DU(WGGDFABHAS(@AUDCVRBHDA((P>]((_BCFGBFCM(DU(WGGDFABHAS((P>]>=((aHARAGHRu(WGGDFABHAS(P>]>=>=JKLMGBHNMO(DU(aHARAGHRu(WGGDFABHAS((P>]>=>P((aFAGBHDAO(DU(aHARAGHRu(WGGDFABHAS((P>]>=>Z((vHVHBRBHDAO(DU(aHARAGHRuWGGDFABHAS((P>]>P((XDOB(WGGDFABHAS((P>]>P>=((JKLMGBHNMO(DU(GDOB(WGGDFABHAS((P>]>Z((iVMCSMAGM(DU(QRARSMVMABWGGDFABHAS((P>((THOBHAGBHDA(KMBwMMA(QRARSMVMAB(WGGDFABHAS(RAE(aHARAGHRu(WGGDFABHAS((P>((THOBHAGBHDA(KMBwMMAQRARSMVMAB(WGGDFABHAS(RAE(GDOB(WGGDFABHAS((P>b((@uuFOBCRBHDAO((P>d((_FVVRCc P>g((eMc(fMCVO((P>=?((hFMOBHDAORAE(ijMCGHOMO((P>==((aFCBYMC(kMREHAS8"'#(r((#--np(3*.((#50x*1y/5po((z-n5(-:(23*34565*+(700-/*+1*4 r{;|lZ>?@ABCDEFGBHDA((Z>=((IAHB(JKLMGBHNMO((Z>P((fDDuO(RAE(fMGYAH}FMO(DU(QRARSMVMAB(WGGDFABHAS((Z>Z((WENRABRSMO(DUQRARSMVMAB(WGGDFABHAS((Z>]((vHVHBRBHDAO(DU(QRARSMVMAB(WGGDFABHAS((Z>((@AOBRuuRBHDA(DU(QRARSMVMAB(WGGDFABHAS_cOBMV((Z>((QRARSMVMAB(WGGDFABRAB(~(kDuM�(aFAGBHDAO(RAE(TFBHMO((Z>>=((aFAGBHDAO(DU(QRARSMVMAB(WGGDFABRABZ>>P(kMO\DAOHKHuHBHMO(DU(QRARSMVMAB(WGGDFABRAB((Z>>Z((@V\DCBRAB(TFBHMO(DU(QRARSMVMAB(WGGDFABRAB((Z>b((iOOMABHRuhFRuHBHMO(DU(QRARSMVMAB(WGGDFABRAB((Z>b>=((fCRHBO(DU(_FGGMOOUFu(QRARSMVMAB(WGGDFABRAB((Z>d((_FVVRCc((Z>g((eMcfMCVO((Z>=?((hFMOBHDAO(RAE(ijMCGHOMO((Z>==((aFCBYMC(kMREHAS#!&' (l(7*3n�p1p(-:(m1**3013n(%+3+565*+8"'#(�((253*1*4(!��50+1�5p(3*.(#--np(-:(m1*3*013n(%+3+565*+(7*3n�p1p |r;sl]>?((@ABCDEFGBHDA((]>=((vMRCAHAS(DKLMGBHNM((]>P((QMRAHAS(JKLMGBHNM(RAE(@ABMC\CMBRBHDA(DU(aHARAGHRu(_BRBMVMAB((WARucOHO�W�((QMRAHAS((��(JKLMGBHNM(�X�(@ABMC\CMBRBHDA(DU(aHARAGHRu(_BRBMVMAB((]>P>=((_BM\O(HANDuNME(HA(BYM(aHARAGHRu(OBRBMVMABWARucOHO((]>P>P((kDuM(HA((aHARAGHRu(WARucOB((]>P>Z((vHVHBRBHDAO(DU(aHARAGHRu(_BRBMVMABO((]>Z((fc\MO(DU(aHARAGHRu(WARucOHO]>]((fDDuO(DU(aHARAGHRu(_BRBMVMAB(WARucOHO((]>]>=((QFuBH�OBM\O(@AGDVM(_BRBMVMAB]>]>P((�DCH�DABRu(WARucOHO]>]>P>=((XDV\RCRBHNM(OBRBMVMABO((]>]>P>P((tCDGMEFCM(DU(@ABMCUHCV(XDV\RCHODA((]>]>P>Z(([MGMOOHBc(DU(@ABMCUHCVXDV\RCHODA((]>]>P>]((vHVHBRBHDAO(DU(XDV\RCRBHNM(aHARAGHRu(_BRBMVMAB(WARucOHO((]>]>P>((W\\uHGRBHDA(DU(@ABMCUHCVXDV\RCHODA(QMBYDE((]>]>P>((WENRABRSMO(DU(@ABMCUHCV(XDV\RCHODA((]>]>P>b((THORENRABRSMO(DU(@ABMCUHCV(GDV\RCHODA]>]>P>d((tCMGRFBHDAO(KMUDCM(tCM\RCHAS(GDV\RCRBHNM(_BRBMVMABO((]>((@uuFOBCRBHDAO((]>((_FVVRCc((]>b((eMc(BMCVO]>d((hFMOBHDAO(RAE(ijMCGHOMO((]>g((aFCBYMC(kMREHAS8"'#(|(( -66-*(%1�5(%+3+565*+(3*.(#,5*.(7*3n�p1p sr;)��>?((@ABCDEFGBHDA((>=((IAHB((DKLMGBHNM((>P((XDVVDA(_H�M(OBRBMVMABO((>Z((tCDGMEFCM(UDC(tCM\RCRBHDA(DU(XDVVDA(OH�M_BRBMVMAB((>Z>=((@uuFOBCRBHDAO((>]((fCMAE(WARucOHO((>]>=((XDV\FBRBHDA(DU(fCMAE(tMCGMABRSM((>]>P((_BM\O(HANDuNME(HABYM(XDV\FBRBHDA(DU(fCMAE(kRBHDO>]>Z @uuFOBCRBHDAO >((WARucBHGRu(�RuRAGM(_YMMB >>=((@uuFOBCRBHDAO>((_FVVRCc((>b((eMc(fMCVO((>d((hFMOBHDAO(RAE(ijMCGHOMO((>g((aFCBYMC(kMREHAS8"'#(<((z3+1-(7*3n�p1p )�|;)|s>?((@ABCDEFGBHDA((>=((IAHB((DKLMGBHNM((>P((QMRAHAS(DU(kRBHDO((>P>=((kRBHD(WARucOHO�kRBHDARuM((>Z(([RBFCM(DU(kRBHDWARucOHO((>]((JKLMGBHNMO(DU(kRBHD(WARucOHO((>((tCHAGH\Ru(WENRABRSMO(DU(kRBHD(WARucOHO((>((vHVHBRBHDAO(DU(kRBHDWARucOHO((>b((XuROOHUHGRBHDA(DU(kRBHDO((>d((fc\MO(DU(kRBHDO((>d>=((vH}FHEHBc(kRBHDO((>d>P((_DuNMAGc(kRBHDO((>d>ZtCDUHBRKHuHBc(kRBHDO((>d>]((iUUHGHMAGc(kRBHDO((>d>((@ABMSCRBME(kRBHDO((>d>((fRKFuRC(kM\CMOMABRBHDA(DU(fc\M(DU(kRBHDORAE(BYMHC(_HSAHUHGRAGM >g((@uuFOBCRBHDAO>=?((_FVVRCc >==((eMc(fMCVO(>=P((hFMOBHDAO(RAE(ijMCGHOMO(>=Z((aFCBYMCkMREHAS

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a$$TAUUN>b$$89D:$$cIb$dI>UK$$89DD$$eAIK=C?<K$N<@$fgI>BCKIK$$89DL$$QA>=hI>\IN@C<O !"#$6$$i/jk$&*+,$-./.010(. 26%5lm69:$$;<=>?@AB=C?<$$9D$$E<C=$FGHIB=CJIK$$9L$$MIN<C<O$?P$nNKh$QR?S$T=N=IUI<=$$9V$$oCPPI>I<BI$GI=SII<$nNKh$QR?ST=N=IUI<=$N<@$$QA<@$QR?S$T=N=IUI<=$$9W$$E=CRC=b$?P$nNKh$QR?S$T=N=IUI<=$$9X$$Y>IZN>N=C?<$?P$nNKh$QR?S$T=N=IUI<=9X9D$$d>N<KNB=C?<K$_PPIB=C<O$?P$nNKh$;<PR?SK$N<@$nNKh$FA=PR?SK$$9X9L$$n?<K=>AB=C?<$?P$nNKh$QR?S$T=N=IUI<=$$9X9VnNKh$P>?U$[AKC<IKK$FZI>N=C?<K$$9X9W$$Q?>U$?P$[AKC<IKK$T=N=IUI<=$?P$nNKh$P>?U$[AKC<IKK$FZI>N=C?<$$9X9X$$Y>?P?>UN?P$nNKh$QR?S$T=N=IUI<=$$9$$pCUC=N=C?<K$?P$nNKh$QR?S$_<NRbKCK$$98$$;RRAK=>N=C?<K$$9$$TAUUN>b$$9a$$$cIb$dI>UK9D:$$eAIK=C?<K$N<@$fgI>BCKIK$$9DD$$QA>=hI>$\IN@C<O#qr"i$s$t+uvw(x$i/yw./*$z/(/x010(. !"#$4$$i+({0y.$/()$|0}w(w.w+($+}$t+uvw(x$i/yw./* l225l~sa9:$$;<=>?@AB=C?<$$a9D$$E<C=$FGHIB=CJIK$$a9L$$n?<BIZ=$N<@$oIPC<C=C?<$?P$�?>�C<O$nNZC=NR$$a9L9D$$MNC<$n?<K=C=AI<=K$?P�?>�C<O$nNZC=NR$$a9V$$dbZIK$?P$�?>�C<O$nNZC=NR$$a9W$$MIN<C<O$?P$�?>�C<O$nNZC=NR$nbBRI$$a9X$$�?>�C<O$nNZC=NRMN<NOIUI<=$$a9$$oI=I>UC<N=C?<$?P$�?>�C<O$nNZC=NR$$a98$$_KKIKKUI<=$?P$�?>�C<O$nNZC=NR$�II@K$$a9$$Y>IZN>N=C?<$?PT=N=IUI<=$?P$�?>�C<O$nNZC=NR$\I]AC>IUI<=$$a99D$$n?UU?<$;=IUK$C<BRA@I@$C<$nNRBARN=C?<$?P$�?>�C<O$nNZC=NR$\I]AC>I@a9a$$T?A>BIK$?P$�?>�C<O$nNZC=NR$$a9D:$$_ZZ>?NBhIK$P?>$oI=I>UC<C<O$=hI$QC<N<BCNR$MCg$$a9DD$$;RRAK=>N=C?<K$$a9DLTAUUN>b$$a9DV$$cIb$dI>UK$$a9DW$$eAIK=C?<K$N<@$fgI>BCKIK$$a9DX$$QA>=hI>$\IN@C<O !"#$2m$$i+1y+(0(.j$+}$t+uvw(x$i/yw./*$5$z/(/x010(.$+}$i/jk l~35l74D:9:$$;<=>?@AB=C?<$$D:9D$$E<C=K$FGHIB=CJIK$$D:9L$$n?UZ?<I<=K$?P$�?>�C<O$nNZC=NR$�$MN<NOIUI<=$?P$nNKh$$D:9VFGHIB=CJIK$?P$nNKh$MN<NOIUI<=$$D:9V9D$$;UZ?>=N<BI$?P$nNKh$MN<NOIUI<=$$D:9V9L$$T=>N=IOCIK$P?>$Q?A>$_KZIB=$?PnNKh$MN<NOIUI<=$D:9W$$$nNKh$YRN<<C<O$$D:9X$$nNKh$Q?>IBNK=C<O$N<@$[A@OI=C<O$$D:9$$p?<O�=I>U$nNKh$Q?>IBNK=C<OD:99D$$MN<NOC<O$=hI$nNKh$QR?SK$$D:99L$$oI=I>UC<C<O$FZ=CUAU$pIJIRK$?P$nNKh$[NRN<BI$$D:98$$nNKh$MN<NOIUI<=M?@IRK$$D:9$$;<JIK=UI<=$?P$TIBA>C=CIK$$D:9a$$;RRAK=>N=C?<K$$D:9D:$$TAUUN>b$$D:9DD$$cIb$dI>UK$$D:9DL$$eAIK=C?<K$N<@fgI>BCKIK$$D:9DV$$QA>=hI>$\IN@C<O !"#$22$$�{{+'(.j$�0{0w�/�*0$z/(/x010(. l%25l6~DD9:$$;<=>?@AB=C?<$$DD9D$$E<C=K$FGHIB=CJIK$$DD9L$$MIN<C<O$?P$_BB?A<=K$\IBICJNGRI$$DD9L9D$$MIN<C<O$?P$_BB?A<=K\IBICJNGRI$MN<NOIUI<=$$DD9V$$QNB=?>K$=hN=$�?JI><$=hI$_BB?A<=K$\IBICJNGRI$$DD9W$$_$[NRN<BI$GI=SII<$pC]AC@C=b�N<@$�Y>?PC=NGCRC=b�$$DD9X$$n?UZA=N=C?<$=hI$�NOI�$?P$_BB?A<=K$\IBICJNGRI$$DD9$$;RRAK=>N=C?<K$$DD98$$TAUUN>b$$DD9$$cIbdI>UK$$DD9a$$eAIK=C?<K$N<@$fgI>BCKIK$$DD9D:$$QA>=hI>$\IN@C<O !"#$2l$$"(�0(.+u�$z/(/x010(. l635slmDL9:$$;<=>?@AB=C?<$$DL9D$$E<C=K$FGHIB=CJIK$$DL9L$$;<JI<=?>b$MN<NOIUI<=$$DL9L9D$$\?RI$?P$QC<N<BCNR$MN<NOI>$C<;<JI<=?>b$MN<NOIUI<=$$DL9V$$oI=I>UC<N<=$=hI$FZ=CUAU$RIJIR$?P$;<JI<=?>b$$DL9W$$YA>BhNKI$n?<=>?R$$DL9X$$T=?B�pIJIRK$$DL9$$fB?<?UCB$F>@I>$eAN<=C=b$�fFe�$$DL98$$F=hI>$;UZ?>=N<=$;<JI<=?>b$n?<=>?R$dIBh<C]AIK$$DL9$$;RRAK=>N=C?<KDL9a$$TAUUN>b$$DL9D:$$cIb$dI>UK$$DL9DD$$eAIK=C?<K$N<@$fgI>BCKIK$$DL9DL$QA>=hI>$\IN@C<O

!"#$"#%#!&' ()*+,-./(01,(*+,-./023( 41/2456"'#()*+,-./(01,(*+,-./023( 41/245(7(8.0191-(01,(!:;.</9=.> )?)@ABCDEFGHIJKFLHE((ABA((MELF(NOPQKFLRQS((ABT((UJIVQF(WEI(UJIVQFWGX(YHEFGHZ((AB[ NOPQKFLRQS(H\(UJIVQFWGXYHEFGHZ((AB]((IRWEFWVQS(H\(UJIVQFWGX(YHEFGHZ(AB_((LaLFWFLHES(H\(UJIVQFWGX(YHEFGHZ((ABb((cKHdQ(H\(UJIVQFWEI(UJIVQFWGX(YHEFGHZ((ABe((fQgJLGQaQEF(H\(W(hHHI(UJIVQFLEV(cXSFQa((ABi((jGHKQIJGQ(LE(UJIVQF(jGQdWGWFLHEABk((UJIVQFWGX(YHEFGHZ(jGHKQSS((ABAC((cJaaWGX((ABAA((lQX(mQGaS(ABAT((nJQSFLHES(WEI(opQGKLSQSABA[((qJGFrQG(fQWILEV6"'#(@#3s.>(4t(*+,-./>(7(u9v.,(01,(u5.v9:5.(*+,-./> )w?wxTBCDEFGHIJKFLHE((TBA((MELF(NOPQKFLRQS((TBT((mXdQS(H\(UJIVQF((TB[qLpQI((WEI(\ZQpLOZQ(UJIVQF((TB]((qLpQIUJIVQF((TB]BA((yQWELEV(WEI(zQ\LELFLHE((TB_((qZQpLOZQ(UJIVQF((TB_BA((yQWELEV(WEI(zQ\LELFLHE((TB_BT((zLSFLEKFLHEOQF{QQE(\LpQI(OJIVQF(WEI(\ZQpLOZQ(UJIVQF((TB_B[((jGQdWGWFLHE(H\(\ZQpLOZQ(UJIVQF TB_B]((MSQS(H\(\ZQpLOZQUJIVQFTB_B_((jGH\HGaW(H\(qZQpLOZQ(UJIVQF((TB_Bb((DZZJSFGWFLHES((TBb((cJaaWGX((TBe((lQX(mQGaS((TBi((nJQSFLHESWEI(opQGKLSQS((TBk((qJGFrQG(fQWILEV6"'#(w#3s.>(4t(*+,-./(7(u+1</94105(*+,-./> w|?}}[BCDEFGHIJKFLHE(([BA((MELF(NOPQKFLRQS(([BT((qJEKFLHEWZ(UJIVQF(([B[((jJGKrWSQ(UJIVQF(([B[BA((DZZJSFGWFLHES(([B]jGHIJKFLHE(UJIVQF(([B]BA((DZZJSFGWFLHES(([B_((jGHIJKFLHE(YHSF(UJIVQF(([B_BA((DZZJSFGWFLHE(([Bb((cWZQS(UJIVQF[BbBA((DZZJSFGWFLHE(([Be cJaaWGX(([Bi((lQX(mQGaS(([Bk((nJQSFLHES(WEI(opQGKLSQ(([BAC((((qJGFrQG(fQWILEV6"'#(x#3s.>(4t(*+,-./(7(~.=.1+.�( 0>�(01,(80>/.2(*+,-./ }�?)�w]BCDEFGHIJKFLHE((]BA((MELF(NOPQKFLRQS((]BT((fQRQEJQ(UJIVQF((]BTBA((jGLEKLdWZ(UJIVQF((]BTBT((cQKHEIWGX(UJIVQF]BTB[((cJaaWGX(UJIVQF((]B[((YWSr(UJIVQF((]B[BA((�QKQSSLFX(H\(KWSr(UJIVQF((]B[BT((yQFrHIS(H\(jGQdWGWFLHEH\(YWSr(UJIVQF]B[B[((jGH\HGaW(H\(YWSr(UJIVQF]B[B]((DZZJSFGWFLHES(]B]((YWdLFWZ(UJIVQF(]B_((yWSFQG(UJIVQF]B_BA((jGQdWGWFLHE(H\(yWSFQG(UJIVQF((]B_BT((qHGaWF(H\(yWSFQG(UJIVQF((]Bb(cJaaWGX((]BelQX(mQGaS((]BinJQSFLHES(WEI(opQGKLSQS((]Bk((qJGFrQG(fQWILEV#!&' (@802-9105( 4>/91-(01,(*2.0�?$=.1(�1053>9>6"'#(|8.0191-�( 41<.s/(4t(802-9105( 4>/91- )�|?))�_BCDEFGHIJKFLHE((_BA((MELF(NOPQKFLRQS((_BT((yQWELEV(H\(aWGVLEWZ(YHSF(WEI(yWGVLEWZ(YHSFLEV((_BTBA((YHEKQdFH\(yWGVLEWZ(YHSF((_BTBT((YHEKQdF(H\(yWGVLEWZ(YHSFLEV((_B[((qQWFJGQS(H\(yWGVLEWZ(KHSFLEV((_B]((zL\\QGQEKQOQF{QQE(yWGVLEWZ(YHSFLEV(EI(OSHGdFLHE(YHSFLEV((_B_((IRWEFWVQS(H\(yWGVLEWZ(YHSFLEV(((_Bb((LaLFWFLHES(H\yWGVLEWZ(YHSFLEV((_Be((DZZJSFGWFLHES((_Bi((cJaaWGX((_Bk((lQX(mQGaS(((_BAC((nJQSFLHES(opQGKLSQS((_BAA((qJGFrQGfQWILEV6"'#(}u9v.,(01,(�0290:5.(<4>/(01,(*2.0�?$=.1(�1053>9> )@)?)|}bBCDEFGHIJKFLHE((bBA((MELF(NOPQKFLRQS((bBT((qLpQI(WEI(RWGLWOZQ(KHSF((bB[((zQFQGaLEWFLHE(H\(yWGVLEWZ(KHSF�c�N�oc�((bB]YHEFGLOJFLHE((bB_((UGQW�(oRQE(EWZXSLS((bB_BA((yQWELEV(WEI(zQ\LELFLHE(H\(UGQW�(oRQE(dHLEFbB_BT((zQFQGaLEWFLHE(H\(UGQW�(oRQE(dHLEF((bBb((DZZJSFGWFLHES((bBe((cJaaWGX((bBi ((lQX(mQGaS((bBknJQSFLHES(opQGKLSQS((bBAC((qJGFrQG(fQWILEV6"'#(�*2.0�?$=.1( �02/(01,(&(�(~0/94 )|�?@�}eBCDEFGHIJKFLHE((eBA((MELF(NOPQKFLRQS((eBT((UGQW�(oRQE(YrWGF(�((VGWdrLK(jGQSQEFWFLHE(((eB[((mrQ(jGH\LF(hGWdr�jGH\LF(�HZJaQ(hGWdr((eB]((SSJadFLHES(H\(UGQW�(�(oRQE(EWZXSLS((eB_((MSQ\JZEQSS(H\(UGQW�(�(oRQE(EWZXSLSeBb((LaLFWFLHES(H\(UGQW��(oRQE(EWZXSLS((eBe((yWGVLE(H\(cW\QFX((eBi((jGH\LF(�HZJaQ(fWFLH((eBk((LaLFLEV(qWKFHGeBAC((yWGVLEWZ(YHSF(ogJWFLHES((eBAA((DZZJSFGWFLHES((eBAT((cJaaWGX((eBA[(lQX(mQGaS(eBA]((nJQSFLHES(opQGKLSQSeBA_((qJGFrQG(fQWILEV

!"#$%& '()*+),+%$-.(/*012# %3$-*456(%-7%'()*+),+%$-.(/*0 89:;88<=>?@ABCDEFGBHDA%%=>I%%JKLCAHAM%NOPKGBHQKR%%=>S%%TDAGKUB%DV%WBLAELCE%TDRBHAM%%=>XYRBLOZHR[\KAB%DV%TDRBWBLAELCER%]%KRHCKE%_K[LQHDFC%%=>%%WBKUR%@AQDZQKE%HA%WBLAELCE%TDRBHAM%%=>a%%b[K%WBLAELCE%TDRBHAM%WcRBK\=>a>I%b[K%WBLAELCE%TDRBHAM%RcRBK\%=>d TDRB%TDABCDZ%FRHAM%WBLAELCE%TDRBHAM%%=>e%%fEQLABLMKR%DV%WBLAELCETDRBHAM%%%=>=%%JH\HBLBHDAR%DV%WBLAELCE%TDRBHAM%%=>g%%WF\\LCc%%=>I?%%hKc%bKC\R%%=>II%%iFKRBHDAR%YjKCGHRKR=>IS kFCB[KC%lKLEHAM12# %mn),/)*45%o*)pq./.%r%s)(5,/)p%n),/)*45 88:;8<tg>?%@ABCDEFGBHDA%%g>I%%uAHB%NOPKGBHQKR%%g>S%%TZLRRHVHGLBHDA%DV%vLCHLAGKR%%g>X%wLBKCHLZ%vLCHLAGK%%g>X>I%wLBKCHLZxCHGK%vLCHLAGKg>X>S%wLBKCHLZ%FRLMK%vLCHLAGK%g>%%wLBKCHLZ%TDRB%vLCHLAGK%g>a%@ZZFRBCLBHDAR%%g>d%%WF\\LCcg>e%%hKc%bKC\R%%g>=%%iFKRBHDAR%YjKCGHRKR%%g>g%%kFCB[KC%lKLEHAM12# %y9n),/)*45%o*)pq./.%r%z){-|,%n),/)*45 8<};8t<I?>?%@ABCDEFGBHDA%%I?>I%%uAHB%NOPKGBHQKR%%I?>S%JLODFC%vLCHLAGK%%I?>S>I%%JLODFC%lLBK%vLCHLAGK%%I?>S>S%%JLODFCYVVHGHKAGc%vLCHLAGK%%I?>S>X%%JLODFC%TDRB%vLCHLAGK%%I?>S>%%JLODFC%wHj%vLCHLAGK%%I?>S>a%%JLODFC%@EZK%bH\KvLCHLAGK%%I?>S>d%JLODFC%~HKZE%vLCHLAGK%%I?>X%%@ZZFRBCLBHDAR%%I?>%%WF\\LCc%%I?>a%%hKc%bKC\R%%I?>d%%iFKRBHDARLAE%YjKCGHRKR%%I?>e%%kFCB[KC%lKLEHAM12# %yyn),/)*45%o*)pq./.%r%!�5,�5)+%$-.(%n),/)*45 8t:;833II>?%%@ABCDEFGBHDA%%II>I%%uAHB%NOPKGBHQKR%%II>S%%NQKC[KLE%TDRB%vLCHLAGK%%II>S>I%%TZLRRHVHGLBHDA%DV%NQKC[KLEvLCHLAGKR%%II>XNQKC[KLE%TDRB%vLCHLAGK%%II>%%vLCHLOZK%NQKC[KLE%vLCHLAGK%%II>>I%%@ZZFRBCLBHDAR%%II>akHjKE%NQKC[KLE%vLCHLAGK%%II>dwLALMKCHLZ%uRKR%DV%vLCHLAGKR%%II>e%%WF\\LCc%%II>=%%hKc%bKC\R%%II>giFKRBHDAR%LAE%YjKCGHRKR%%II>I?kFCB[KC%lKLEHAM12# %y8�5.6-*./{/p/(q%o44-|*(/*0 8my;&y3IS>?%%@ABCDEFGBHDA%%IS>I%%uAHB%NOPKGBHQKR%%IS>S%%wKLAHAM%DV%lKRUDARHOHZHBc%fGGDFABHAM%%IS>X%%NOPKGBHQKR%LAEWBCFGBFCK%DV%lKRUDARHOHZHBc%fGGDFABHAM%LR%L%HQHRHDALZ%xKCVDC\LAGK%wKLRFCK\KAB%%IS>X>I%%wKLRFCK\KAB%DVxKCVDC\LAGK%%IS>X>S%%lKUDCBHAM%%BD%HVVKCKAB%JKQKZR%DV%wLALMK\KAB%%IS>X>X%%NOPKGBR%DV%lKUDCBHAM%%IS>X>xFCUDRKR%LAE%T[LCLGBKCHRBHGR%DV%lKRUDARHOHZHBc%lKUDCBHAM%%IS>X>a%%@\UDCBLAB%fRRF\UBHDAR%%IS>%%_KAKVHBR%DVlKRUDARHOHZHBc%fGGDFABHAM%WcRBK\%%IS>a%%JH\HBLBHDAR%DV%lKRUDARHOHZHBc%fGGDFABHAM%%IS>d%%bcUKR%DV%lKRUDARHOHZHBcTKABCKR%%IS>d>I%%TDRB�%YjUKARKR%TKABCKR%IS>d>S%%xCDVHB%TKABCK%%IS>d>X%%@AQKRB\KAB%TKABCK%%IS>e%%@ZZFRBCLBHDARIS>=%%WF\\LCc%%IS>g%%hKc%bKC\R%%IS>I?%%iFKRBHDAR%LAE%YjKCGHRKR%%IS>II%%kFCB[KC%lKLEHAM

SYLLABUS - AUDIT -I

1) INTRODUCTION OF AUDIT

Definition, Objectives of an Audit, Scope of an Audit, Restriction of scope,

Advantages of an Audit, Limitations of an audit, Audit Programme, Contents of Audit

Programme, Advantages of an Audit Programme, Disadvantages of an Audit

Programme, Audit Working Papers, Commencement of New Audit

2) TYPES OF AUDIT

Kinds of Audit, Statutory / Mandatory Audit, Voluntary / Independent Audit,

Interim Audit, Concurrent Audit, Continuous Audit, Balance Sheet Audit, Financial Audit,

Cost Audit, Management Audit, Audit Techniques

3) VOUCHER & VOUCHING

Vouching, Purpose of vouching, Objectives of vouching, Voucher, General

Consideration in Audit of Ledger, Audit of Different Ledgers, Bought Ledger, Sales

Ledger, General Ledger, Kinds of Frauds in relation to Ledgers

4) INTERNAL CHECK & ROLE OF INTERNAL AUDITOR

Internal Control, Objectives of Internal Control, Essentials of Good Internal

Control System, Inherent Limitations of Internal Control, Methods for the Proper Review

& Evaluation of the Adequacy of the Internal Control, Internal Check, Objects of

Internal Check, Internal Audit, Basic Principles of Establishing Internal Auditing,

Objectives of Internal Audit, Role of Internal Auditor, Possible areas of co-operation &

co-ordination

5) DOCUMENTATION

Documentation, Importance of Working Papers, Form & Content of Working

Papers, Lien on Working Papers, Classification of Working Papers, Audit Note Book

6) FRAUDS - THEIR DETECTION & PREVENTION

Frauds, Errors, Reasons & Circumstances of Frauds & Errors, Auditor's

responsibility for non detection of frauds & errors, Events which increases the risk of

fraud or error, Inherent limitation of an audit in relation to frauds & errors, Types of

fraud, Internal Audit, Internal Control, Elements of internal control, Investigation for

suspected frauds

7) VALUATION & VERIFICATION OF ASSETS

Verification of Assets, General Consideration for Valuation & Verification of

Assets, Valuation of Assets, Valuation of Fixed Assets, Valuation of Current / Floating

Assets, Inventories (Stock in Trade), Long term Work in Progress, Trade Debtors,

Investments, Loans, Advances, Bank Balance, Cash balance on Hand

8) VALUATION & VERIFICATION OF LIABILITIES

General principles to be followed in verification of liabilities, Verification of

Liabilities, Valuation of Liabilities, Trade Creditors, Bills Payables, Outstanding Liabilities

for expenses, Provision for Taxation, Contingent Liabilities, Debentures

9) COMPANY AUDIT IN BROAD LINE, PROFIT AVAILABLE FOR

DIVIDEND, AUDITOR'S DUTIES REGARDING RESERVES

Company Audit, Share Capital Audit, Auditor's duties regarding to audit of

share capital, Shares underwritten placed for commission, Shares issued at premium,

Shares issued at a discount, Audit of debentures, Preliminary Expenses, Statutory

Meeting & Statutory Report, Dividend, Interim dividend, Auditor's duty with regard to

payment of dividend, Transfer to reserve, Capita profits, Revaluation reserve

10) QUALIFICATION & APPOINTMENT OF A COMPANY AUDITOR

Qualification of Auditors, Disqualification of Auditors, Appointment of Company

Auditor, Removal of the auditor, Auditor's Remuneration

11) RIGHTS, DUTIES AND RESPONSIBILITIES OFA COMPANY

AUDITOR

Rights & Powers of an Auditor, Duties & responsibilities of the auditor, Scope

of duties of an auditor

12) MISCELLANOUS MATTERS IN COMPANY AUDIT

Statutory report, Audit of branch Accounts, Powers of accompany auditor in

relation to branch, Exemption to Branch Audit, Special audit on direction of Central

Government, Cost audit

SYLLABUS - AUDIT -II

1) AUDIT REPORT AND AUDITOR'S CERTIFICATE

Audit Report, Basic elements of the auditor's report, Company Auditor, Types of

Audit Report, Audit Report Under Companies Act 1956, Opinion other than an unqualified

opinion, Other information issued with audited financial statements, Post Balance sheet Events,

Going Concern, Auditor's Report, Auditor's Certificate

2) COMPANIES AUDITOR'S REPORT ORDER 2003

Companies (Auditor's Report) Order 2003, Matters to be covered in the auditor's

report, Reasons to be stated for unfavorable of qualified answers

3) SPECIAL AUDIT - I

Special Audit , Audit of a Sole Trader's Accounts, Audit of Partnership Firm, Audit of

Small Company, Audit of Cinema Hall, Auditing the Accounts of Hospital

4) SPECIAL AUDIT - II

Special Audit, Audit OF Hotels, Auditing the Books of Club, Audit of Charitable

Institution, Audit of College, Auditing the Books of Library, Audit of Newspaper Company

5) AUDIT SAMPLING

Surprise check, Test checking, Factors to be consider while determining the sample

size, Methods of selecting samples, Concept of audit risk, Relationship between materiality &

audit risks

6) INVESTIGATION

Investigation into the affairs of the company, Powers of Inspector, Investigation of

ownership of company, Investigation on behalf of incoming partner, Investigation on behalf of

bank proposing to advance loan to a company, Difference between Audit & Investigation,

Due diligence

7) AUDIT OF SHARES

Verification of Capital Newly Issued, Verification Of Shares Issued For Cash,

Securities issued at premium, Shares issued at discount, Calls paid in advance, Calls in

arrears, Audit of redemption preference shares, Audit of forfeiture of shares, Buy back

of own securities

8) AUDIT OF INCOME

General procedure of auditing of income, Audit of Cash receipts, Vouching of

cash receipts, Cash sales, Receipts from customers, Rental receipts, Sale proceeds of

junk material, Bills receivables, Sale of assets, Insurance claims, Commission received

9) AUDIT OF EXPENDITURE

Audit of Payments, Vouching of Payments, Cash purchases, Payment to creditors,

Bills payables, Bills receivable discounted but dishonored, Travelling expenses, Royalty

paid, Payment of sales tax, Postage, Petty cash, Director's travelling expenses,

Transactions with directors, Salaries & wages

10) AUDIT OF TRADING TRANSACTIONS

Principle matters to be considered while vouching Trading Transaction, Factors

which give rise to discrepancy in the stock, Factors which increase the gross profit,

Factors which decrease gross profit, Audit of Purchases, Special precautions in the

verification of purchase invoices, Purchase Returns, Audit of sales, Goods sold on sale or

return basis, Returnable containers, Empties & Packages, Cut-off arrangements

11) INTRODUCTION OF STANDARDS ON AUDITING

Scope of the Auditing & Assurance Standards, Auditing & Assurance Standards

& the Auditor, Functions of the Auditing & Assurance Standards Board, Composition of

the Auditing & Assurance Standards Board, Various Standards on Auditing, True & Fair

12) STANDARDS ON AUDITING

Standards on Auditing in detailed

CONTENT

Sr. No. UNIT � I (Page No. 01 to 46)

Introduction of Arabic Language and its Heritage

1 Origin of Language

2 History of Arabic Language

3 Ancient Arabic Language

4 Classical Arabic Language

5 Classical Arabic Prose

6 Contemporary Arabic Language

7 Root words and their identification

8 Transformation and Signal identification

UNIT � II (Page No. 47 to 63)

Applied Grammar Part � 1

9 Alphabets

10 Alphabet Phonetics

11 Definite Article

12 Identification of Feminine Gender

13 Imperative and Negative

14 Personal Pronouns

15 Objective and Possessive Pronouns

16 The Prepositions

17 Verb, Subject and Object

UNIT � III (Page No. 64 to 116)


18 Past Tense / III Person / Singular / Masculine

19 Past Tense / III Person / Plural / Masculine

20 Past Tense / III Person / Singular / Feminine

21 Past Tense / III Person / Plural / Feminine

22 Past Tense / II Person / Singular / Masculine

23 Past Tense / II Person / Plural / Masculine

24 Past Tense / II Person / Singular / Feminine

25 Past Tense / II Person / Plural / Feminine

26 Past Tense / I Person / Singular / Masculine, Feminine

27 Past Tense / I Person / Plural / Masculine, Feminine

28 Past Tense Passive Voice

29 Past Tense

UNIT � IV (Page No. 117 to 171)


30 Imperfect Tense / III Person / Singular / Masculine

31 Imperfect Tense / III Person / Plural / Masculine

32 Imperfect Tense / III Person / Singular / Feminine

33 Imperfect Tense / III Person / Plural / Feminine

34 Imperfect Tense / II Person / Singular / Masculine

35 Imperfect Tense / II Person / Plural / Masculine

36 Imperfect Tense / II Person / Singular / Feminine

37 Imperfect Tense / II Person / Plural / Feminine

38 Imperfect Tense / I Person / Singular / Masculine, Feminine

39 Imperfect Tense / I Person / Plural / Masculine, Feminine

40 Imperfect Tense Passive Voice

41 Imperfect Tense

42 Broken Plural

UNIT � V (Page No. 172 to 186)

Classical and Contemporary Arabic

43 Classical Arabic Seen Passages

44 Classical Arabic Un-seen Passages

45 Contemporary Arabic Seen Passages

46 Contemporary Arabic Un-seen Passages

UNIT � VI (Page No. 187 to 212)

Translation and Conversation

47 Translation Proficiency and its Importance

48 Simple sentences of Arabic to medium of instruction

49 Daily life simple Conversation

50 Short Greetings in Arabic

51 Gestures and Appeals

52 Numbers

53 Days of week, Months and Year

54 Translation from Classical Arabic Prose

55 Translation from Ancient Arabic Prose

Unit 1 : Small Enterprises: An Introductory Framework

Industrialization

Importance of industrialization in developing countries

Need for industrialization

Industrialization and India

Importance of small enterprises

Unit 2 : Small Enterprises in India

Concept and Definition of Micro, Small, & Medium Enterprises

Development of small enterprises in India

Characteristics of MSMEs

Entrepreneurship and MSMEs

Importance, Scope and Trends of Small Enterprises in India

Growth and performance of small enterprises in India

Unit 3 : Government Policy & Development of MSMEs in India

Evolution of industrial policy

MSMEs: Government Policy Framework

Unit 4 : Small Enterprises: Problems and Prospects

Problems for Small enterprises

Prospects of Small enterprises in a free economy

Opportunities for an Entrepreneurial Career

Unit 5: Project Identification and Selection

Meaning of Business Opportunity

Creativity, Innovation and Idea Generation

Sources of Business Ideas

Criteria for selection of a Business Opportunity

Environmental Analysis, SWOT Analysis

Business Opportunities in various sectors

Unit 6: Setting up of a New Business Enterprise - I

Planning for Setting up a new enterprise:

Project identification/selection

Project selection – product choice, technology and machinery, arranging finance, decision about location

Project report preparation

Filing of entrepreneur’s memorandum

Approvals/clearances

Enterprise development – form of organization, land and building, power and water connection,

installation of machinery, recruitment of personnel, procurement of raw material, production,

marketing

Quality certification

BUSINESS ENTREPRENEURSHIP - IIIM. Com. Part I

SYLLABUS

BUSINESS ENTREPRENEURSHIP - IIIM. Com. Part I

SYLLABUS

Unit 7: Setting up of a New Business Enterprise - II

Government Rules and Regulations

Filing of entrepreneur’s memorandum

Approvals/clearances

Unit 8: Setting up of New Business Enterprise - III

Relevant Acts for entrepreneurs

Unit 9: Setting up of New Business Enterprise - IV

Arranging finance

Organization structure

Unit 11: Business Plan to Overcome Business Crises

Business plan

Business Crises

Unit 12: Business Sickness and Rehabilitation

Meaning of sickness

Symptoms of Sickness

Major Causes of Sickness

Remedial Measures and Rehabilitation

Unit 10: Project Report Preparation

Contents of a Project Report

Formulation of a Project Report

Project report - an outline

Preliminary Project Report

Detailed Project Report

Unit 1: Entrepreneurship and Small Business Management

Fundamentals of Management

An Overview of Strategic Management

Strategic Decision Making

Organizational Life Cycle

Unit 2 : Marketing Management – I

Marketing Concepts

Marketing Mix

Target Marketing - Market Segmentation, Targeting, and Positioning (STP)

Marketing Environment

Marketing Environment

Product Management

Pricing

Unit 3 : Marketing Management – II

Distribution Channels

Promotion Mix

Market Assessment

Marketing Research

Sales Forecasting

Consumer Behavior

Services Marketing

Customer Relationship Management (CRM)

Unit 4 : Production and Operations Management – I

Production and Operations Management

Production/Operations Planning and Control

Location and Size of Enterprise

Plant Layout

Productivity

Maintenance Management

Break Even Analysis

Quality Management

Unit 5: Production and Operations Management – II

Purchase Management

Materials Management

Stores Management and Material Handling

Inventory Management

Just-in-time systems (JIT)

Supply Chain Management (SCM)

Enterprise Resource Planning (ERP)

BUSINESS ENTREPRENEURSHIP - IVM. Com. Part I

SYLLABUS

BUSINESS ENTREPRENEURSHIP - IVM. Com. Part I

SYLLABUS

Unit 6: Financial Management – I

Finance Function

Financial Planning

Working Capital Management

Unit 7: Financial Management – II

Accounting and Book Keeping

Financial Analysis – Ratio Analysis

Funds Flow Analysis

Cash Flow Analysis

Financial Control

Unit 8: Human Resource Management – I

Human Resource Management

Procurement -Human Resource Planning, Recruitmentand Selection, placement and Induction

Internal mobility –Promotion, Transfer, Demotion, Separation

Unit 9: Human Resource Management – II

Human Resource Development -Performance Appraisal, Career Planning, Training &

Development

Compensation - Job Evaluation, Wage and Salary Administration

Integration - Industrial Relations

HRM &MSMEs - The Challenges of HRM for SMEs

Unit 10: Total Quality Management

Concept of Quality

Meaning of TQM - Evolution of Quality Management, Quality Management Philosophy

Need for TQM for MSMEs – Inculcating Quality Culture, Tools and Techniques of TQM: Kaizen,

ISO 9000, Quality Circles, Benchmarking, BPR, 5S, Six Sigma

Unit 11: Information Technology and Entrepreneurs

MSMEs & Information Technology -IT, IT Infrastructure, Business and IT

E-business

E-commerce

Unit 12: Profiles of Successful Entrepreneurs and their Enterprises

Profiles of Successful Entrepreneurs :

Deepak Gade, Mahesh Deshmukh, Shantanu and Asha Deshpande, Mohini and aMilind Kelkar,

Sunil Raithatha

!"#$%&'#"()*+&,*"-."/&."&0"1.*&*"1&0"(#)"*(.!"*+2."*"3.*+&0"4(.(5(.!"4&6&078&9:;<=>0;?&;2& ;?9@ABCDEC&FGHIHJKL&FMHNODPHI&HQ&RHIEKS8&2=?'>0;?T&;2& ;?9@UOIGDPHIV&HQ&RHIEKL&WPXIPQPGBIGE&HQ&RHIEKL&YEJBIZ&QHC&RHIEKL&WO[[NKHQ&RHIEK\8& 9]T= 9 9?>&;2& ;?9@&T=__<@aE&bHIGE[D&HQ&RHIEK&WO[[NK&BIZ&PDV&REBVOCEJEIDL&UHOC&REBVOCEV&HQRHIEK&WO[[NKL&YEDECJPIBDPHI&HQ&RHIEK&WO[[NKc8&>d9; @&;2& ;?9@eCPGE&BIZ&FGHIHJKL&bHIQOVPHI&fEDgEEI&[CPGEV&BIZ&GHVDV&HQ&[CHZOGDPHILhDaEC&[CPGE&DECJVL&UPVaECV&iOBIDPDK&DaEHCK&HQ&RHIEKL&iOBIDPDK&aEHCK&HQ&RHIEKjaE&bBJfCPZXE&bBVa&ABNBIGE&k[[CHBGal8& ;m9 ?& ;?9>] 0T nEKIEVPBI&DaEHCK&o&pIGHJE&k[[CHBGaL&RHIEDBCPVJj&kI&pIDCHZOGDPHILnEKIEVqV&rEQHCJONBDEZ&iOBIDPDK&aEHCK&HQ&RHIEKs8&>d9; @&;2&0?2<]>0;?REBIPIX&HQ&pIQNBDPHIL&YEJBIZoeONN&pIQNBDPHIL&bHVDoeOVa&pIQNBDPHIt8&'9?> ]<&,]?u0?v&6&0hMECMPEg&HQ&GEIDCBN&ABIwL&hfxEGDPMEV&HQ&bEIDCBN&ABIwL&rEVECME&ABIw&HQpIZPBL&rHNE&BIZ&UOIGDPHI&HQ&rEVECME&ABIw&HQ&pIZPB&yrApz&&{8&; v]?0|]>0;?&]?m&m9_] > 9?>T&;2&,0hCXBIP}BDPHI&BIZ&WDCOGDOCE&HQ&rApL&YE[BCDJEIDV&HQ&rAp~8&;<9&]?m&2=?'>0;?T&;2&,0rHNE&HQ&rEVECME&fBIw&HQ&pIZPBL&UOIGDPHIV&HQ&rEVECME&ABIw&HQ&pIZPB

!"#$%&'()*+#,%-./+#)&0#*'1'*2'#3)&4#%5#.&0.)6789:9;#<=#6<97>8?@#A<B:C@D#EFG7C>:H7I#<=#J<97>8?@#A<B:C@D#K9I>?LJ79>I#<=6<97>8?@#M<B:C@D#NK6KOPOKEQR#ES#6EQTOPUV#MENKWV "#5*)$'X%*4#)&0#,*%/'0Y*'#%5#$%&'()*+#,%-./+6<97>8?@#M<B:C@#O8?;7>ID#EA7?8>:9;#M?<C7ZL?7I#<=#6<97>8?@#M<B:C@#:9#K9Z:8DTH<BL>:<9#<=#>[7#EA7?8>:9;#M?<C7ZL?7 \"#$'/])&.1$#%5#$%&'()*+#,%-./+O?89IJ:II:<9#J7C[89:IJ#<=#J<97>8?@#A<B:C@D#<_#Z<7I#:9>7?7I>#?8>7#A<B:C@_<?aD#U7=<?JI#:9#>[7#6<97>8?@#M<B:C@#S?8J7_<?D#M?7IID#Q7_#6<97>8?@#M<B:C@=?8J7_<?

!"#$%&'#"()*+&,*"-."/&."&0"1.*&*"1&0"(#)"*(.!"*+2."*"3.*+&0"4(.(5(.!"4&6&0078&09:;<9=:0>9=?&209=9'0=?&09@:0:A:;BCDEF&GH&IJKELJMKNGJMO&PNJMJQNMO&IJFKNKRKES&BCDEF&GH&PNJMJQNMO&IJFKNKRKNGJFMJT&BUENL&VGOEFS&IJKELJMKNGJMO&IJFKNKRKE&MJT&WMXY8&09:;<9=:0>9=?&209=9'0=?&09@:0:A:;&6&YZLEKKGJ&XGGTF&IJFKNKRKNGJS&[\]EQKNEF&MJT&XGL_NJS&[\]EQKNE&GH&IaPSPRJQKNGJF&GH&IaPb8&09:;<9=:0>9=?&209=9'0=?&09@:0:A:;cRLGDE&dEEOGDeEJK&ZMJ_&fgcZhS&ZVIgiS&IJKELJMKNGJMO&IJEFKeEJK&ZMJ_j8&09:;<9=:0>9=?& >9;:=<k&2A9lmJ&[ ELNEX&GH&IaPS&[\]EQKNE&GH&IaPS&PRJQKNGJF&GH&IaPS[VnmoIimBI[o&mod&PIomogcS&PRJT&GH&IaPS&PRJT&MJT&pRGKM&iCFKEeSiDEQNMO&dLMXNJ&VNUKF&fidVFhq8&r>s;<9=9';&>2& ; ,;<@&>2&0 2nGELJMJQE&GH&IaPS&ZGMLT&GH&nGELJGLFS&aNJNFKELNMO&gGeeNKKEEFS&BUEctEQRKNE&ZGMLTS&nGELJMJQE&VEHGLeS&ctEQRKNE&dNLEQKGLF&MJT&uGKNJ&VNUKFSaEe\ELF&GH&IaP&MJT&uGKEFv8&09:<>lA':0>9&:>&w><?l&,=9xmJ&IJKLGTRQKNGJ&KG&yGLOT&ZMJ_z8&09:;<9=:0>9=?&209=9';&'><{><=:0>9mJ&[ELNEX&GH&IPgS&[\]EQKNEF&MJT&yGL_NJS&BCDEF&GH&VGOEFSaEe\ELFUND&MJT&iKLRQKRLES&iELNQEFS&IPg&NJ&IJTNMS&gLEMKNJ&[DDGLKRJNKNEF|8&09:;<9=:0>9=?&l;s;?>{ ;9:&=@@>'0=:0>9&=9l&A9l{mJ&GELNEX&GH&IdmS&[\]EQKNEFS&VGOE&MJT&HRJQKNGJF&GH&IdmS&aEe\ELFSnGELJMJQES&Idm&MJT&PRJTNJS&Idm&NJ&oEXFS&yGLOT&ZMJ_&MJT&}od~

!"#$%&'%(&)*(%"'+,)-&#)+&".$(*(+&))"(.)+/012"34564758"39":;<1=">?@?5AB="CD2E?732F="<4562@2E5=":5GH56FI7J=K63LDE?F"39":;<1=";245F?G52?"<D@6@2?55F=":;<1"CD2L72AMN!"'+&)*+(&'O+(%"/)+&)*"PO*"-)&&%)#)+&"OP"Q'-R$&)12"S4564758"39";T>;U=":5GH56FI7J=";T>;U"1E?747?75F=";2F?7?D?732@V166@2A5G52?FMM!"(-'(+"Q),)%OR#)+&"W(+XMY!"(QW"(+Q"'+Q'(

CONTENT

Topic 1 : Methods of Costing

Unit 1 Introduction and Job Costing 1-301.0 Introduction

1.1 Unit objectives

1.2 Introduction of methods of Costing

1.2.1 Installation of Costing system

1.2.2 Overview of costing methods

1.3 Job Costing - Meaning and Definition

1.4 Features of Job Costing

1.5 Advantages of Job Costing

1.6 Limitations of Job Costing

1.7 Procedure followed in Job Costing

1.8 Preparation of Job Cost Sheet

1.9 Forms used in Job Costing

1.10 Industries which use Job Costing

1.11 Illustrations

1.12 Summary

1.13 Key Terms

1.14 Questions and Exercises

1.15 Further Reading

Unit 2 Batch Costing (Theory) 31-382.0 Introduction

2.1 Unit objectives

2.2 Meaning of batch costing

2.3 Features of batch costing

2.4 Advantages of batch costing

2.5 Disadvantages of batch costing

2.6 Industries which use batch costing

2.7 Accounting recording for batch costing

2.8 Economic Batch Quantity (EBQ)

2.9 Summary

2.10 Key Terms

2.11 Questions


Unit 3 Batch Costing (Practical Problems) 39-50

3.0 Introduction

3.1 Unit objectives

3.2 Illustrations

3.3 Summary

3.4 Exercises

3.5 Further Reading

Unit 4 Contract Costing (Theory) 51-66

4.0 Introduction

4.1 Units objectives

4.2 Meaning of Contract Costing

4.3 Difference between Job Costing and Contract Costing

4.4 Features of Contract Costing

4.5 Industries which use Contract Costing

4.6 Accounting recording in Contract Costing

4.7 Calculation of profit to be transferred to Profit & Loss. Account in respect of contracts

in different stages of completion

4.8 Summary

4.9 Key Terms

4.10 Theory Questions


Unit 5 Contract Costing (Practical Problems) 67-80

5.0 Introduction

5.1 Unit objectives

5.2 Illustrations on Contract Costing

5.3 Summary

5.4 Exercises

Unit 6 Process Costing (Theory) 81-96

6.0 Introduction

6.1 Units objectives

6.2 Meaning of Process Costing

6.3 Features of Process Costing

6.4 Difference between Job Costing and Process Costing

6.5 Advantages of Process Costing

6.6 Disadvantages of Process Costing

6.7 Collection of costs and procedure followed

6.8 Normal and Abnormal Loss or gain

6.9 Inter- process profit

6.10 Summary

6.11 Key Terms

6.12 Questions


Unit 7 Process Costing (Practical Problems) 97-118

7.0 Introduction

7.1 Unit Objectives

7.2 Illustrations on process costing

7.3 Summary

7.4 Exercises

7.5 Further Reading

Topic 2 : Methods of Costing

Unit 8 Operating or Service Costing 121-135

8.0 Introduction

8.1 Unit Objectives

8.2 Meaning of Operating Costing

8.3 Features of Operating Costing

8.4 Industries which use Operating Costing

8.5 Operating Cost Units

8.6 Formats of Operating Cost Sheets

8.7 Summary

8.8 Key Terms

8.9 Questions


Unit 9 Operating Costing (Practical) 137-163

9.0 Introduction

9.1 Unit Objectives

9.2 Preparation of Operating Cost Sheets

9.2.1 Operating Cost Sheet in Transport Organisations (Illustrations 1 To 7)

9.2.2 Operating Cost Sheet in Power Generating Organisations (Illustrations 8 To 9)

9.2.3 Operating Cost Sheet in Canteens (Illustration 10)

9.3 Summary

9.4 Exercises

Topic 3 : Cost Books

Unit 10 Cost Journal and Ledger 165-185

10.0 Introduction

10.1 Unit Objectives

10.2 Cost Accounting Record and Processes

10.3 Cost Accounting Records Rules

10.4 Companies ( Cost Accounting Records) Rules, 2011

10.5 Cost Ledger and Control of Cost

10.5.1 Cost Ledgers

10.2.2 Control Accounts

10.5.3 Accounting Treatment of Journal Entries

10.6 Summary

10.7 Key Terms

10.8 Questions


Unit 11 Integral and Non-integral Accounting System 185-239

11.0 Introduction


11.2 Integral and Non-integral accounting systems

11.2.1 Integral System

11.2.2 Non-integral system

11.2.3 Accounting Treatment of Journal Entries

11.3 Reconciliation and integration between Financial Account and Cost Account

11.3.1 Reasons for differences

11.3.2 Reconciliation of Cost and Financial Accounts

11.3.3 Methods of Reconciliation of Cost and Financial Accounts :

(I) Preparation of Reconciliation Statement

(II) Preparation of Memorandum Reconciliation Account

11.3.4 Illustrations

11.4 Key Terms

11.5 Questions and Exercises


��

�

��

��

��

��

��!� ��"��#��

��$��%��&��''(��)��

�� *��'��+��

��,��-��.��

��/��01!��2��$��

��#��3��&��,)�

��)��0��+��/)�

��4��+��# �

��.�� %��2�+��

2��* �'��(��

�

CONTENTS

Topic 1 : Techniques of Costing

Unit 1 Budgets and Budgetary Control 1-12

1.0 Introduction of Costing Techniques

1.1 Unit Objectives

1.2 Budget, Budgeting and Budgetary Control

1.2.1 Meaning and definitions of Budget, Budgeting and Budgetary Control

1.2.2 Objectives of budgeting

1.2.3 Functions of budgeting

1.2.4 Advantages of budgeting

1.2.5 Disadvantages of budgeting

1.3 Summary

1.4 Key Terms

1.5 Questions

1.6 Further Reading

Unit 2 Budgets and Budgetary Control (Budgetary Control Organisation,

Types of budgets and Budgeting Process) 13-28

2.0 Introduction

2.1 Unit Objectives

2.2 Budgetary control organisation

2.3 Different types of budgets

2.4 Types of functional budgets

2.5 Budgeting process

2.6 Revenue Budgets

2.7 Cash Budget

2.8 Zero Base Budgeting (ZBB)

2.9 Difference between Traditional Budgeting and Zero Base Budgeting

2.10 Key Terms

2.11 Summary

2.12 Questions


Unit 3 Budgets and Budgetary Control (Illustrations on preparation of

Budgets) 29-76

3.0 Introduction

3.1 Unit Objectives

3.2 Illustrations on preparation of budgets

3.2.1 Sales Budget

3.2.2 Production Budget

3.2.3 Production Cost Budget

3.2.4 Purchase Budget

3.2.5 Cash Budget

3.2.6 Flexible Budget

3.3 Summary

3.4 Key Terms

3.5 Exercises

3.6 Further Reading

Unit 4 Marginal Costing 77-90

4.0 Introduction

4.1 Unit Objectives

4.2 Marginal Costing

4.2.1 Meaning and definitions of marginal cost and marginal costing

4.2.2 Features of marginal costing

4.3 Distinction between Absorption Costing and Marginal Costing

4.4 Importance of Marginal Costing

4.5 Meaning of various concepts used in marginal costing

4.6 Summary

4.7 Key Terms

4.8 Questions

4.9 Further Reading

Unit 5 Marginal Costing (Important Concepts, Advantages and

Limitations) 91-114

5.0 Introduction

5.1 Unit Objectives

5.2 Important concepts in Marginal costing

5.2.1 Concept of Contribution

5.2.2 Profit Volume Ratio

5.2.3 Cost, volume and profit (CVP) Analysis

5.2.4 Concept of key factor

5.2.5 Break-even point

5.2.6 Margin of safety

5.2.7 Break-even Analysis and break -even chart

5.3 Uses of Marginal costing

5.4 Limitations of Marginal costing

5.5 Key Terms and important formulae

5.6 Summary

5.7 Questions

5.8 Further Reading

Unit 6 Marginal Costing (Illustrations) 115-136

6.0 Introduction

6.1 Unit Objectives

6.2 Illustration on Marginal Costing

6.3 Summary

6.4 Exercises

Unit 7 Standard Costing (Introduction to Standard Costing) 137-148

7.0 Introduction

7.1 Unit Objectives

7.2 Historical Costing and its Limitations

7.3 Definition and meaning of various concepts

7.4 Features of Standard Costing

7.5 Objectives of Standard Costing

7.6 Standard Cost and Estimated Cost

7.7 Standard Costing and Budgetary Control

7.8 Advantages of Standard Costing

7.9 Limitations of Standard Costing

7.10 Summary

7.11 Key Terms

7.12 Questions


Unit 8 Standard Costing (Types of Standard and Variance Analysis) 149-174

8.0 Introduction

8.1 Unit Objectives

8.2 Pre-requisites to Standard Costing

8.3 Setting Standard

8.3.1 Types of Standards

8.3.2 Setting the Standards

8.4 Standard Material Cost

8.5 Standard Labour Cost

8.6 Standard Overheads

8.7 Problem in Setting Standard Costs

8.8 Variance Analysis

8.9 Different Types of Variances

8.9.1 Material Variances

8.9.2 Labour Variances

8.9.3 Overhead Variances

8.9.4 Sales Variances

8.10 Key Terms

8.11 Summary

8.12 Questions


Unit 9 Standard Costing (Illustrations on Computation of Variance)

175-246

9.0 Introduction

9.1 Unit Objectives

9.2 Illustration on Standard Costing

9.2.1 Material Variances

9.2.2 Labour Variances

9.2.3 Material and Labour Variances

9.2.4 Overhead Variances

9.2.5 Sales Variances

9.3 Summary

9.4 Exercises

9.5 Further Reading

Unit 10 Uniform Costing and Inter-firm Comparison 247-262

10.0 Introduction


10.2 Meaning and definition of Uniform Costing

10.3 Organisation for Uniform Costing.

10.4 Pre-requisites for introduction of Uniform Costing

10.5 Uniform Cost Manual

10.6 Advantages of Uniform Costing

10.7 Limitations of Uniform Costing

10.8 Inter-firm comparison

10.8.1 Meaning

10.8.2 Pre-requisites for introduction

10.8.3 Advantages

10.8.4 Limitations

10.9 Summary

10.10 Key Terms

10.11 Questions


Unit 11 Activity Based Costing 263-290

11.0 Introduction


11.2 Activity Based Costing

11.2.1 Meaning and Definitions

11.2.2 Activity Based Costing Frame Work

11.3 Stages in Activity Based Costing

11.4 Purposes and Benefits

11.4.1 Purposes of Activity Based Costing

11.4.2 Benefits of Activity Based costing

11.5 Classification of Activities

11.6 Traditional Costing and Activity Based Costing System

11.7 Accounting treatment in Activity Based Costing

11.8 Cost Drivers

11.8.1 Types of Cost Driver

11.8.2 Selection of a Suitable Cost Driver

11.9 Illustrations

11.10 Summary

11.11 Key Terms

11.12 Questions


Unit 12 Cost Control and Cost Reduction 291-312

12.0 Introduction

12.1 Unit objectives

12.2 Cost Control

12.2.1 Steps involved in Cost Control

12.2.2 Control of Labour, Material and Overheads

12.2.3 Advantages of Cost Control

12.3 Cost Reduction

12.4 Distinction between Cost Control and Cost Reduction

12.5 Areas in which Cost Reduction Campaign or activity can be undertaken

12.5.1 Cost Reduction techniques

12.5.2 Major problems in Cost Reduction programme

12.6 Value Analysis

12.6.1 Procedure followed in Value Analysis

12.6.2 Benefits of Value Analysis

12.7 Productivity

12.7.1 Meaning and definition

12.7.2 Productivity Measurement

12.7.3 Efficiency measures to improve productivity

12.7.4 Measures to improve productivity

12.8 Illustrations

12.9 Key terms

12.10 Questions & Exercises.


Unit 13 Target Costing 313-330

13.0 Introduction


13.2 Target Costing

13.2.1 Meaning and Concept 13.2.2 Definitions

13.2.3 Target Costing and Standard Costing

13.3 Origin of Target Costing

13.4 Features of Target Costing

13.5 Difference between Traditional Cost Management Approach and Target Costing Approach

13.6 Advantages of Target Costing

13.7 Limitations of Target Costing

13.8 Specimen Illustrations

13.9 Summary

13.10 Key Terms

13.11 Questions

� � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �� ! � � � " � # � � � � � � � � � � � $ �� ! � � � " � # % � � � � � � � � � � � � � � � � � � � �& � ' � � � � % � � � � � � # � � � � � � � � � � �$ � � � ! � � � " � # ( � ) � � � � � � � � � � � � � � � � � � � � � � � �� * � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �+ � � � � � � � � , � � � � � � � - � � � � # � � $� � � . / ) � � � � � � � � � # � � * � � " � � �� ! � � � � # � � � � # � � * � � " � � �� . / ) � � � � � � � � , 0 ) � � � � � � � � � � � � ) � � � � � � � � � � � � �� & �� ! � � � " � # ( � � � � � � � 1 � - � � � � � � � � � � � � � + �

� � � � � � � � � � � � � � � � � � � � � � � � �� ! � � � � � �� " � � � # � $ � � � � � � � � � � � �% � � � � � � � & � � ' � � � # � � � % () � � � � � � � � * � � ' � � � # � � � + ,+ � � � � � � � � � � - . � � � � � � ! � � � ( %, � � � � � � � � � � ! � � � � � � � � � � � � ! � � � � � ,( � � � � � � � & � � � � � / 0 � � � � � � � � � � � ! � � � � � � � �� " � � 1 � � � � � 2 � . � � � ! � � � � � � � � � � � � � � (� � � � � � � � � & � � � � � � " � � � � 0 � � � � � � � � � � � � � � % )� � � � � � � � � � � � 3 � � & � � 3 � � & � � � ! � � � � � � � � � � � � � + �� 0 � # � � � � � " � � � � � 1 � � ' � � � # � � � � � � � � � � � � � ( �� 0 � # � � � � � 4 � � � � * � � ' � � � # � � � � � %� % � 0 � # � � � � � 4 � � � � * � � ' � � � # � � � � � �� ) � � � � � � � � � � 5 � � � � � � � - � # � � � � � ! � � � � ) )� + � � � � � � � � � � 6 � � � / 0 � � � � / 0 � � � � � � � � �� , �� , � � � � � � � � � � ! � � � � � � � � � � � � 7 5 � � � � )

� � � � � � � � � � � � � � � � � � � � � � � � � � �� ! � � � � � � � � � � � � � � � " �" � � � � � � � � � � � � � � � � � � � � � � � � # ## � $ � � � % � � � � � � � � � � � � � � � � � � � � & '& � � � � � � � � ( � � � � � � � � � � � � � � � � � � � � � �' � ) � � � � � * � � + � � � � � � � � � � � � � � � � � � � � � #� � � � � � � � � � � ( � � � * � � � � � � � � � � �, � � � � � � � - � � � � � � � � � � � � � � � �� & "� � � � � � � � � � � � � ) � � � � � � � � � � � � � � � ' �� ( � � � � * ! � � � � � � � � � � � � � � � , �� . � � + � / � � � � � � � � � � � � � � � �� " � � � � � � � . � � + � � � � � � � � � � � � � � � � � � 0 1 � � 2 � � �� # � � � � � � � . � � + � � � � � � � � � � � � � � � � � � 0 1 � � 2 � " '� & � ) � � � � � � � / � � � ) � � � � � � � � � � � � � & ,� ' � + � / � � � � � ) � � � � � � � � � � � � � , "

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aB>A_7<>$>?97$5B>BFBN\4 H7G=9$@9:97EG>6:GB>$6>?$IG7EJK$LM<GNGO7G<E$>?97$5B>BFBNGK:G=$DBEF9:G:GB>4 I96:<79K$]$D676=:97GK:G=K$BC$5B>BFBNGK:G=$DBEF9:G:GB>4 H7G=9$@9:97EG>6:GB>$G>$:9$;B7:_7<>4 H7G=9$@9:97EG>6:GB>$G>$:9$aB>A_7<> !"#$$b$& Q)".+$R+#+)1"!(#"2!$(!/$S")1,$UV-"W"X)"-1$"!$cW"d202WY$'()*+#4 H7G=9$@9:97EG>6:GB>$6>?$IG7EK$LM<GNGO7G<E$G>$eNGABFBN\4 D676=:97GK:G=K$]$I96:<79K$BC$eNGABFBN\4 fG>89?$@9E6>?$D<7g94 DBNN<KGg9$eNGABFBN\4 H7G=9$N96?97KGF$5B?9NK$G>$eNGABFBN\4 59:B?K$BC$H7G=9$@9:97EG>6:GB>$G>$H76=:G=94 H7G=G>A$BC$5<N:GFN9$H7B?<=:K4 H7G=9$@9:97EG>6:GB>$>?97$@<EFG>A !"#$h$& '+#i2/,$23$'+(,-)"!d$j(#"2!(W$k!.21+4 DB>=9F:K$BC$l6:GB>6N$H7B?<=:4 59:B?K$BC$596K<7G>A$l6:GB>6N$m>=BE94 @GCCG=<N:G9K$G>$:9$596K<79E9>:$BC$l6:GB>6N$m>=BE94 m>:97>6:GB>6N$DBEF67GKB>$BC$l6:GB>6N$m>=BE9 !"#$n$& R+#+)1"!(#"2!$23$j(#"2!(W$k!.21+$Z$oi+$'-W#"0W"+)4 p6KG=$5B?9N$q$rAA79A6:9$;<FFN\$6>?$rAA79A6:9$@9E6>?4 s9B7\$BC$l6:GB>6N$m>=BE9$@9:97EG>6:GB>4 s9$s9B7\$BC$5<N:GFNG97tuvwxyvv$yz{x{|wzv$}$ww$~z{|��|$z��$$�$��$wv��$}$ww$~z��v��tuv

!"#$%$& '(#()*"!+#",!$,-$.)"/($0(1(2$+!3$455)(5+#($678829$:$'(*+!3$6;,/<=> ?@A@BCDEFADGE$GH$IBDJ@$K@L@M> NOOB@OFA@$PQRRMS$T$?@CFEU$PVGJWX !"#$Y$& Z,!(9$&$678829$,-$Z,!(9> ?@HDEDADGE$FEU$[DEUX$GH$\GE@S> ]QEJADGEX$GH$\GE@S> PQRRMS$GH$\GE@S !"#$$& Z,!(9$&$'(*+!3$-,)$Z,!(9> ?@CFEU$HGB$\GE@S> _V@$\GE@AFBS$X@JAGB$aQDMDbBDQC$QEU@B$AV@$[@SE@XDFE$PSXA@C !"#$c$& '(*+!3$-,)$Z,!(9$&$d(/(!#$'(1(2,8*(!#=e> IGBAHGMDG$_V@GBS$GH$?@CFEU$HGB$\GE@S> ]BD@UCFEfX$NRRBGFJV !"#$gh$& i6$j$0Z$Z,3(2$,-$#;($k/,!,*9> lPmK\$\GU@M$n$NE$lEABGUQJADGE> lPmK\$\GU@M$oDAV$pGL@BEC@EA$P@JAGB> lPmK\$\GU@M$oDAV$]GB@DOE$_BFU@> NOOB@OFA@$?@CFEU$T$NOOB@OFA@$PQRRMS> \FJBG@JGEGCDJ$lXXQ@X !"#$gg$& q+2+!/($,-$.+9*(!#=> rFMFEJ@$GH$IFSC@EAX$NJJGQEAX> sGCRGXDADGE$GH$rFMFEJ@$GH$IFSC@EAX> ?DX@aQDMDbBDQC$DE$AV@$rFMFEJ@$GH$IFSC@EAX$n$sFQX@X$T$_SR@X> ]B@@$_BFU@$tuXv$IBGA@JADGE !"#$gw$&x,)("5!$ky/;+!5($Z+)<(#$+!3$#;($ky/;+!5($d+#(> ]GB@DOE$zJVFEO@$\FBW@A> ?@CFEU$HGB$FEU$PQRRMS$GH$]GB@DOE$zJVFEO@> ?@A@BCDEFADGE$GH$zJVFEO@${FA@

��

Contents

UNIT 1: PARTS OF SPEECH..................................................................................................................... 3

UNIT 2. SENTENCE STRUCTURE ........................................................................................................ 13

UNIT 3: TENSES, VERBS, AUXILIARIES ............................................................................................ 20

UNIT 4: ARTICLES AND PREPOSITIONS ........................................................................................... 37

UNIT 5 CHANGE OF VOICE ................................................................................................................... 50

UNIT 6: DIRECT AND INDIRECT SPEECH .......................................................................................... 56

UNIT 7: TRANSFORMATION OF SENTENCES .................................................................................. 66

UNIT 8 PUNCTUATION AND CAPITAL LETTERS ............................................................................. 78

UNIT 9: EXPRESSIONS AND CONVERSATIONS ................................................................................ 87

UNIT 10 HOW TO MAKE SPEECHES .................................................................................................. 101

UNIT 11: VOCABULARY BUILDING .................................................................................................. 112

UNIT 12: COMPREHENSION AND COMPOSITION .......................................................................... 142

��

�

Index

� ��

� �� !�� "�

� ��#�� #��

� ��$�� %�� %� �&�� &��$"�

� ��'��(��)��(��*��+��,$�

� ��,��*��"��

� ��"�� &� ��*��%��-�

� ��.��

� ��/�� #.�

� ��-�� (��*��#�

� �� %�� ,.�

� �� !�� .$�

*��./�

� � � � � � � � � � � � � � �� ! " # � � �

$ % & ' ( ) *+ ( , & $ - . / , & 0 0 1 % 2 * 3 & * * . 4 &5 & 0 . ) & ' 6 % 1 4 % . 7 7 & *$ 1 8 % * & 9 : 0 0 . ; 8 *< = > ? @ A B CD E F G H I J H I K L E G M N O P Q G F N E R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R S SD E F G H I J H T K U V M W X Y X E O Z N E J U V M W X Y [ N \ \ P E F Q X G F N E R R R R R R R R R R R R R R ] ^D E F G H I J H _ K ` N M a F E b c F G d [ P e G N \ V M e R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R f gD E F G H I J H h K i V j V Y N k F E b l M N m V e e F N E X Y n V Y V k d N E V o a F Y Y e R R R R R R R R R R p gD E F G H I J H q K L \ k M N j F E b L E m N M \ X Y [ N \ \ P E F Q X G F N E R R R R R R R R R R R R R R R R R S ^ ]

��

�

GEN121:Cyber Security

Contents

Unit 1: Introduction to Cyber Security� ��

Unit 2: What is Data Privacy?� ��

Unit3: Computer Security Threats� ��

Unit 4: Online Scams & Frauds� ��

Unit 5: What is Phishing?� ��

Unit 6: Ransomware� ��

Unit 7: How to Keep Your Kids Safe Online� ��

Unit 8: How to Avoid Getting Addicted to Facebook� ��

Unit 9: Dos and Don'ts of Internet Security� ��

Unit 10: What is Browser Sandbox Protection?� ��

Unit 11: Gmail Security� ��

Unit 12: Mobile Device Security� ��

Unit 13: Tips and Tricks on Securing Your Android Devices� ��

Unit 14: Top 10 Web Hacking Techniques of 2014� ��

SYLLABUS - DIRECT TAXES

1) BASIC CONCEPTS

Income Tax, Features of Income Tax, Scope of the Income Tax Act, Objectives

of Income Tax, Important Definitions, Concept of Income [Section 2 (24)], Assessment

Year [Section 2 (9)], Previous Year [Section 3], Person [Section 2 (31)], Assessee

[Section 2 (7)], Deemed Assessee, Gross Total Income [Section 14], Total Income or

Taxable Income, Rounded-off, Capital and Revenue Receipts, Capital and Revenue

Expenditure, Tax always calculate as per Income Tax Rate declared in Budget,

Residential Status, Types of Residential Status, Rules for Determining the Residential

Status, Resident and Tax Liability

2) EXEMPTION UNDER SECTION 10

Exemption (Section 10), Agricultural Income [Section 10 (1), Alternative Tax

on Agricultural Income, Income to Family Member from HUF [Section 10 (2)], Profit

or Income to Partners from Partnership Firm [Section 10 (2A)], Interest on Investment

by Foreigner [Section 10 (4)], Leave Travel Concession (LTC) [Section 10 (5)], Income

of Foreigner [Section 10 (6)], Allowances paid outside India [Section 10 (7)], Income

of Foreign Employee for Services under Co-operative Programme [Section 10 (8 and

9)], Gratuity [Section 10 (10)], Commuted Pension [Section 10 (10 A)], Leave

Encashment [Section 10 (10 AA)], Any Amount Received from Provident Fund

[Section 10 (11)], Any Amount Received from Superannuation Fund [Section 10 (13)],

House Rent Allowance (H.R.A.) [Section 10 (13A)], Special Allowance [Section 10

(14)], Interest on Specific Securities [Section 10 (15)], Scholarship (Education) [Section

10 (16)], Daily Allowances to Parliament Members [Section 10 (17)], Income or

Pension of Gallantry Award [Section 10 (18)], Income or Amount of Award given by

Government [Section 10 (19)], Income of Local Authority [Section 10 (20)], Income

of sports Association [Section 10 (21)], Income of Educational Institute [Section 10

(22)], Income of Medical Institute [Section 10 (23)], Income of Minor [Section 10

(32)], Dividend from Indian Company [Section 10 (34)], Interest on Mutual Fund

[Section 10 (35)]

3) INCOME FROM SALARY

Income from Salary, Salary Chargeable Basis [Section 15], Allowances and

their Taxability, Perquisites and their Valuation [Section 17 (2)], Perquisites, Gift by

Employer to Employee, Medical Facility by Employer, Educational Facility to Children

of Employee, Gas, Electricity, Water provided by Employer, Telephone Bill paid by

Employer, If Credit Card given, Facility of Health Club, Snacks or Lunch provided,

Loan at Lower Rate, Cook, Gardner, Watchman, Servant provided by Employer and

Salary paid by Employer, Any Obligation of Employee, Provident Fund, Car provided

by Employer to Employee, Other Vehicles (Motor cycle, Scooter or any other

Conveyance is provided by the Employer), Transport Facility by a Transport undertaking

(not being provided by Railways or by an Airlines), Travelling and Touring

Accommodation, Valuation of Perquisites, Deduction u/s 16, Different Meaning of

Salary for Different Purposes

4) INCOME FROM HOUSE PROPERTY

Basis of Charge [Section 22], Conditions, Classification of House Property,

Gross Annual Value [Section 23 (1)], Steps for Computing Income from House Property,

Let Out House Property, Deemed Let Out House Property, Self-Occupied House

Property, Net Annual Value (NAV), Deductions from Income of House Property

[Section 24]

5) PROFITS AND GAINS FROM BUSINESS OR PROFESSIONS

Profits and Gains of Business and Professions, Business [Section 2 (13)],

Profession [Section 2 (36)], Vocation, Expenditure, Income, The Main Rules for

Preparation of Trading, Profit and Loss A/c, Expenses/Deductions expressly allowed

as deduction from Profit and Gain of business or Profession, Disallowed Expenses,

While computing the Income from Business or Profession it is difficult to remember

which expenses are allowed and which expenses are not allowed under the Act,

Format of Computation of Taxable Income from Business or Profession, Personal

Incomes (Disallowed Incomes)

6) CAPITAL GAIN

Basis of Charge [Section 45], Chargeability of Tax, Some Important Definitions,

Computation of Capital Gains, Full Value of Consideration, Cost of Acquisition, Deemed

Cost of Acquisition, Indexed Cost of Acquisition, Cost of Improvement, Indexed Cost

of Improvement, Tax on Capital Gains, Exemptions under the Head 'Capital Gains'

7) INCOME FROM OTHER SOURCES

Last Head of Income Under Gross Total Income, Expenses which are

Deductible under the head 'Income from Other Sources [Section 57], Inadmissible

Expenses under the Head 'Income from Other Sources' [Section 58], Basis of Charge

under the Head 'Income from Other Sources'

8) DEDUCTIONS u/s 80

Deduction in respect of the amount paid or deposited out of income chargeable

to tax or otherwise in the various chargeable to tax or otherwise in the various schemes

[Section 80 C], Deductions in respect of Contribution to Pension Fund and Annuity

Plan [Section 80 CCC], Deduction in respect of amount paid or deposited in a pension

scheme [Section 80 (CCD)], Maximum Limit [Section 80 (CCE)], Deduction in respect

of Medical Insurance Primia [Section 80 D], Deductions in respect of Maintenance

including Medical Treatment of Handicapped Dependents [Section 80 DD], Deduction

in respect of Medical Treatment [Section 80 DDB], Deduction in respect of Payment

of Interest on Loan taken for Higher Education [Section 80 E], Deduction in respect

of Donation to certain Funds and Charitable Institutions [Section 80 G], Deduction in

respect of Rent Paid [Section 80 GG], Deduction in respect of certain Donations for

Scientific Research or Rural Development [Section 80 GGA], Deduction in respect of

Royalty on Patents [Section 80 RRB], Deduction in case of a Person Totally Blind or

Physically Handicapped and Resident [Section 80U]

9) GROSS TOTAL INCOME (G.T.I.)

Gross Total Income, Chart Showing the Computation of Taxable Income

10) CARRY FORWARD AND SET OFF

Clubbing of Income, Set off and Carry Forward of Losses

11) TAX PLANNING

Tax Planning (Meaning), Justification of Tax Planning, Nature and Scope of Tax

Planning in the Corporate Sector

12) PROCEDURE UNDER INCOME TAX ACT, 1961

SYLLABUS - INDIRECT TAXES

1) CONSTITUTIONAL AUTHORITY FOR EVY OF CUSTOMS DUTY,

BODY OF US7TOMS LAW AND DEFINITIONS

Constitutional Authority for levy of customs duty and the body of Customs Law,

Definitions, Definition India, The significance of Indian customs waters under Customs Act

2) TAXABILITY OF IMPORTED GOODS

Taxable Event & Date of Determination of Duty & Tariff Valuation, Taxable event,

Date of Determination of Duty & Tariff Valuation, Assessment, Provisional Assessment,

Liability of goods imported in sets, Assessment of duty, Provisional Assessment, Final

assessment or reassessment of duty, Determination of duty where imported goods consist of

articles liable to different rates of duty, Pilfered goods, Damaged or Deteriorated goods, Lost

or Destroyed goods, Duty on pilfered goods, Abatement of duty on damaged or deteriorated

goods, Remission of Duty on Lost, Destroyed and Abandoned Goods, Derelict, Jetsam etc.,

Denatured or Mutilated goods, Reimported goods, Re-imports are entitled for following

concessions as have been notified by the Government, Officers of Customs- Their Appointment

& Powers, Appointment of custom station, Warehousing stations., Central govt/s power of

prohibition, Detection of illegally imported & Exported goods, Power of Central Government

to prohibit importation/exportation of goods.

3) CUSTOMS TARIFF AND TYPES OF CUSTOMS DUTIES

The five column-headings as given in the Schedule A Customs Tariff Act, 1975 &

rate structure of customs duty, Preferential rate of duty & How shall the duty be levied when

standard rate and preferential ate, both, are specified in the Import Tariff, Various types of

duties levied under Customs Tariff Act, 1975, Additional duty, Protective duty, Important

features of "safeguard duty", Countervailing duty on subsidized articles, Anti Dumping Duty

under the Customs Tariff Act, 1975Project Imports under the Customs Tariff Act, 1975

enumerating the eligible projects and the minimum investment criteria

4) VALUATION RULES - I

Determination of value, Application of valuation rules, Concept of Tariff Value,

Determination of Value of the goods, Concept of tariff value, Transaction value & conditions

that are to be fulfilled for accepting transaction value as the assessable value, Related persons

& When shall the transaction value be accepted even if the buyer and seller are related

persons, Related Persons, Transaction value acceptable even if goods sold to related person,

Various dutiable factors that are to be added to the transaction value under Rule 10(1) of the

Customs Import Valuation Rules, 2007, Adjustments specified in Rule 10(2), which are required

to be made in price of imported goods with regard to cost of transportation, insurance and

loading, unloading and handling charges, Valuation of imported goods, Identical goods, Similar

goods, Transaction value of Identical goods & Similar goods, Identical Goods, Similar Goods,

Rule 4 of the Customs Import Valuation Rules, 2007 deals with determination of transaction

value of identical goods & provisions of that rule

5) VALUATION OF IMPORTED GOODS

Deductive value, how is it applied for customs valuation, Computed Value, Residual

method of valuation under Rule 9 of the Customs Import Valuation Rules, 2007, Declarations

to be furnished by the importer under Rule 11 & Rejection of declared value by the customs

officer under Rule 12, Valuation of export goods., Declaration by the exporter and rejection

of declared value as provided in Rules 7 and 8 of the Customs Export Valuation Rules, 2007,

Flow pattern of import, Entry Inwards of the vessel &Boat Note, Flow Pattern of Export,

Custodians of Cargo & Clearance of Imported goods, Types and contents of bill of entry,

Clearance of goods for home consumption, Procedure prescribed in the Customs Act, 1962

in case of goods not cleared warehoused or transhipped within 30 days after unloading,

'Warehousing without warehousing' under the Customs Act, 1962, Transit and Transshipment,

Provisions of transhipment of goods without payment of duty

6) WAREHOUSING

Appointment of Public Warehouses and Licensing of Private Warehouses,

Warehousing Bond, Warehousing Period, Owner's Right to deal with Warehoused Goods,

Manufacture in Warehouse, Removal of Goods from Warehouse and Improper Removal of

Goods from Warehouse

7) DUTY DRAWBACK

Drawback allowable on re-export of duty paid goods, Provisions regarding drawback

allowable on re-export of duty paid goods as such, Rates of drawback under Section 74, if

the goods are taken into use after importation, How drawback is allowed on goods imported

for personal use and subsequently re-exported, Re-export of Imported Goods (Drawback of

Customs Duties) Rules, 1995, Procedure for claiming drawback on goods exported by post,

Statement declarations to be made on exports other than by post, The manner and time of

claiming drawback in case of goods exported other than by post, Drawback on Imported

Materials used in the Manufacture of Goods, which are Exported, Customs, Central Excise

Duties and Service Tax Drawback Rules, 1995, 'Export' for purpose of duty drawback u/s

75, All Industry Rates, Brand Rates, Special Brand Rates, Availment of CENVAT Credit,

Prohibition of duty drawback. Minimum and maximum rate or amount of duty drawback,

Access to manufactory by the Department to verify drawback claim, Payment of drawback

and interest [Rule 14], Supplementary Claim [Rule 15], Procedure for recovery of amount of

drawback where export proceeds are not realized, Interest on drawback

8) SERVICE TAX

Taxable Services -Meaning of the term 'Service', Taxable services, Charge of service

Tax / Basis of charge of service tax (See 66), Valuation of Taxable services for charging

service Tax, Exemptions from service tax

9) PAYMENT OF SERVICE TAX

Payment of service tax, Manner of payment of service tax, Registration, Annexure,

Return of service tax, Maintenance of Record, Assessment of service Tax, Penalties

10) EXCISE DUTY

Nature/concept of Central Excise, Objectives of Central Excise Act. 1944, Related

Laws to the Central Excise, Charging/levy of Central Excise, Liability for the Central Excise/

Person liable to pay Central Excise Duty, Some Important Definitions, Classification of goods,

Classification of goods, Basis of calculation of excise duty, Types of excise duty

11) VALUATION OF EXCISABLE GOODS

Tariff value, Maximum Retail Price, Transaction value, Central Excise valuation

Rules, Treatment of certain items / expenses under new valuation Rules

12) ADMINISTRATIVE STRUCTURE & VARIOUS PROCEDURES OF

CENTRAL EXCISE

Administrative structure of Central Excise Department, Various Procedures in Central

Excise, The Registration procedure, Exemption from Registration, Storage And Accounting

Of Final Products, Self Removal Procedure under invoice

13) PAYMENT OF EXCISE DUTY

Manner of payment of duty, Payment of excise duty can be made by any one of the

following manner, Payment of Excise Duty through 'Account Current' (PLA), Payment of

Differential Duty, Removal of goods under bond without payment of duty, Letter of undertaking

(LUT) by manufacturer-exporter, Payment of Duty Under Protest, Payment of duty on

consignment basis permissible, Mode of payment of Duty, Bonds under Central Excise,

Periodical Returns and Statements

14) ASSESSMENT

Assessment, Demand of Excise Duty/Recovery of duties/Show Cause Notice,

Adjudication, Provisional Attachment Pending Adjudication

15) SSI & INTEREST, PENALTIES UNDER CENTRAL EXCISE

Interest, Interest for delayed payment of duty, Interest on Late disbursement of

refund, Penalties under Central Excise Act, Confiscation of goods, Refund of Duty, Doctrine

of Unjust Enrichment, Appeal, Departmental review / Appeal (Review Application), Excise

Audit, Small Scale Industrial Units (SSI), SSI units and manufacture of branded goods

16) CENVAT SCHEME (CENVAT Credit Rules 2004)

CENVAT scheme, Important Definitions, Applicability of CENVAT credit/Salient

features of CENVAT Scheme (Sec.3), Conditions for allowing CENVAT credit [Rule 4],

Inputs used in both dutiable and exempted final products, Documents and Accounts,

Confiscation and penalty

17) VALUE ADDED TAX

Salient features of VAT, Levy of VAT/Method of VAT calculation

6

NOTES

Business

Entrepreneurship - V

Unit 1 : Entrepreneurship And Strategy

Understanding Strategy and Strategic Management- Approaches to Strategy,

Strategy Hierarchy

Strategy and Small Business

Unit 2 : Entry Strategies

Enterprise Survival and Growth

Entry Strategies

Buying an Existing Business

Unit 3 : Strategies For Growth And Development –I

Business Growth

Growth Strategies – Ansoff’s Growth Strategies,

Kotler’s Growth Strategies,

Glueck’s Growth Strategies

Unit 4 : Strategies For Growth And Development –II

Corporate Level Strategies

Business Level Strategies

Functional Level Strategies

Unit 5: Strategies For Growth And Development –III

Franchising

Ancillarization

Collaboration

Unit 6 : Strategies For Growth And Development –IV

Acquisitions

Mergers

Joint Ventures

Strategic Alliances

BUSINESS ENTREPRENEURSHIP - VM. Com. Part II

SYLLABUS

7

NOTES

Business

Entrepreneurship - V

Unit 7 : Managing Business Growth

Management of Growth

Designing the Organization – Organization Culture

Leadership – Succession Planning

Management of Change

Unit 8 : Financing For Business Growth

Management of Financial Resources

Venture Capital

Incubators

Accelerators

Angel Investors

Unit 9 : Exit Strategies

Exit Strategy – Succession of Business,

Harvesting Strategy,

Going Public (IPO),

Liquidation

Bankruptcy

Unit10 : Networking

Meaning of Networking

Entrepreneurs’ Networks

Unit11 : Project Management - I

Project Management

Need for Project Management

Challenges of Project Management

Project Classification

Unit12 : Project Management – II

Project Life Cycle Approach

Network Analysis

PERT

CPM

6

NOTES

Business

Entrepreneurship - VI

Unit 1 : Intrapreneurship or Corprorate Entrepreneurship

Nature of Intrapreneurship, Need for Intrapreneurship, Comparison with Entrepreneurship, Chal-

lenges to Corporate Entrepreneurship, Guidelines for Success of Intrapreneurship, Intrapreneurship

in Indian scenario

Unit 2 : Women and Entrepreneurship

Women Entrepreneurship, Empowerment through Enterprise, Challenges to Women Entrepreneurs,

Development of Women Entrepreneurs, Profiles of Successful Women Entrepreneurs

Unit 3 : Entrepreneurship and Service Sector

Entrepreneurship and Service Sector, Nature and Scope of Service Entrepreneurship, Profiles of

Service Entrepreneurs

Unit 4 : Rural Entrepreneurship

Rural Entrepreneurship, Need for Rural Entrepreneurship, Challenges faced in Rural Entrepreneurship,

Benefits of Rural Entrepreneurship, Role of Government, Profiles of Successful Entrepreneurs

Unit 5: Social Entrepreneurship

Social Entrepreneurship, Ecological Entrepreneurship, Profiles of Successful Entrepreneurs

Unit 6 : Entrepreneurship and International Business

Difference between International and Domestic Entrepreneurship, Importance of International

Entrepreneurship, Entrepreneurial Entry into New International Business, Barriers to International

Trade and Entrepreneurship, Profiles of Global Entrepreneurs

Unit 7 : Youth Entrepreneurship

Youth Unemployment, Youth Entrepreneurship, Profiles of Youth Entrepreneurs

Unit 8 : Family Business and Entrepreneurship

Family Business and Entrepreneurship, History and Evolution, Characteristics, Various Types of

Family Business, Advantages and Disadvantages of Family Business, Succession Planning, Pitfalls

of Succession Planning

BUSINESS ENTREPRENEURSHIP - VM. Com. Part II

SYLLABUS

7

NOTES

Business

Entrepreneurship - VI

Unit 9 : Technopreneurship

Meaning, Challenges, Entrepreneurship versus Technopreneurship, Significance of Technopreneurship

and Risk involved, Implications of Technopreneurship and Technology Management, Profiles of

Technopreneurs

Unit10 : Intellectual Property Rights

Intellectual Property, Intellectual Property Rights (IPR), Copyright, Patents, Trademark, Geographical

Indications, Industrial Design

Unit 11 :Profiles of Successful Entrepreneurs - I

Profiles of Successful Entrepreneurs

Unit 12 : Profiles of Successful Entrepreneurs - II

Profiles of Successful Entrepreneurs

SYLLABUS - BANKING LAWS AND OPERATIONS - I

1) BANKING SYSTEM IN INDIA

2) LEGAL ASPECTS OF BANKING OPERATIONS (CHEQUES)

3) LEGAL ASPECTS OF BANKING OPERATIONS (Indemnities & Guarantees)

4) LEGAL ASPECTS OF BANKING OPERATIONS (Accounts)

5) TYPES OF SECURITIES IN BANKS

6) CHARGE OVER SECURITIES

7) LOANS AND ADVANCES

8) FINANCIAL ANALYSIS OF BANKS

9) RISK MANAGEMENT IN BANKS

10) ELECTRONIC BANKING AND IT IN BANKING

11) ETHICS AND CORPORATE GOVERNANCE IN BANKING

12) CORPORATE GOVERNANCE IN BANKS

SYLLABUS - INDIRECT TAXES

1) RIGHTS OF A BANKER

Meaning of a Banking Company, Features of Banking, Rights of a

Banker, Collecting Banker, Paying Banker

2) CUSTOMER- BANKER RELATIONSHIP

Who Is A Customer?, Various Types of Customers, 'Know Your

Customer' (KYC) Guidelines of the RBI, Customer Identification Procedure,

Customer Identification Requirements, Documents to be obtained by banks for

opening an account, Specimen signature, Power of Attorney, Relationship as

Debtor and Creditor, Banker as Trustee, Banker as a Bailor / Bailee, Banker as

a Lesser / Lessee, Banker as Agent

3) REGULATORY FRAMEWORK AND COMPLIANCES

Setting up of a New Bank, Guidelines for Licensing of New Banks in

Private Sector, Branch Licensing, Constitution of Banks' Board of Directors

and Their Rights, Banks' Share Holders and Their Rights, Cash Reserve Ratio,

Statutory Liquidity Ratio (SLR), Cash - Currency Management, Powers to

Control Advances

4) LAWS APPLICABLE TO BANKING

SARFAESI ACT, 2002SARFAESI Act - Important Aspects,

Securitization, Asset Reconstruction Company, Enforcement of Security Interest,

The Consumer Protection Act, 1986, Banking Ombudsman, Lenders Liability

Act, Bankers' Book Evidence Act, 1891, Tax Laws Applicable In Banking

Operations

5) FINANCIAL SYSTEMS IN INDIA

Types of Financial Markets, Various aspects of the Primary Market

issues, Secondary Market, Securities and Exchange Board of India (SEBI),

Instruments - Capital Market, Mutual Funds, Features of Capital Market, Stock

Exchange, Qualified Institutional Buyers (QIBs)

6) ASSET LIABILITY MANAGEMENT OF BANKS AND

FINANCIAL INSTITUTIONS

ALM Meaning, International Scenes, ALM information systems, The

Importance of liquidity, Overview of Asset Liability mismatches, Evolution of

ALM in Indian Banking System, Asset-Liability Committee (ALCO), Asset

Management Liability Techniques, GAP Analysis, Duration Gap Analysis,

Scenario analysis, Value at Risk

7) AUDIT AND INSPECTION OF BANKING COMPANY

Audit, Inspection, Supervision and Control, Disclosure of Accounts and

Balance Sheets of Banks, Presentation, Disclosure Requirements, Quantitative

Disclosures, Submission of Returns to RBI, Banking Codes and Standards Board

of India (BCSBI), The Banking Ombudsman Scheme, Grounds of Complaints,

Miscellaneous provisions

8) INTERNATIONAL BANKING MANAGEMENT

International banking, Bretton Woods Conference, International

Monetary Fund (IMF), Bank for International Settlement (BIS), Legal and

Regulatory Frame Work, Legal Issues in International Banking Transactions,

Syndicated Credit - Features, International Banking Operations Management,

Risk Management in International Banking, Special Issues: Technology and

International Banking, Globalization and International Banking: Important Aspects,

Financial Innovations in International Banking

9) CENTRAL BANKING - I

Overview of central Bank, Objectives of Central Bank, Reserve Bank

of India, Role and Function of Reserve Bank of India (RBI)

10) ORGANIZATION AND DEPARTMENTS OF RBI

Organization and Structure of RBI, 10.4 Departments of RBI

11) ROLE AND FUNCTIONS OF RBI

Role of Reserve bank of India, Functions of Reserve Bank of India

12) MONETARY POLICY AND RESERVE BANK OF INDIA

Meaning of Monetary policy, Objectives of monetary policy, Instruments

of Monetary Policy, LIMITATIONS OF MONETARY POLICY

Cost and Management Audit

SYLLABUS

Unit 1 : Meaning and Nature

E Cost Audit : Meaning and Nature

E Definitions

E Objectives of Cost Audit

E Distinction between Financial Audit and Cost Audit

Unit 2 : Scope, Functions, Benefits and Limitations

E Scope and Functions of Cost Audit

E Benefits of Cost Audit

E Limitations of Cost Audit

Unit 3 : Efficiency Audit and Propriety Audit

E Efficiency Audit

E Propriety Audit

E External or Statutory Cost Audit

E Provisions in Companies Act, 1956 regarding Cost Audit and Amendments

in these provisions

Unit 4 : Cost Auditor's Appointment

E Cost Auditor

E Appointment of Cost Auditor

E Qualifications of Cost Auditor

E Disqualifications of Cost Auditor

Unit 5 : Powers and Duties of Cost Auditor

E Cost Auditor's Powers

E Cost Auditor's Duties

u Statutory Duties

u General Duties of Cost Auditor

Unit 6 : Role and Responsibilities of Cost Auditor

E Role of Cost Auditor

E Responsibilities of Cost Auditor

Unit 7 : Basic Points in Commencement of Cost Audit

E Familiarization with Industry

E Commencement of Audit Work

E Familiarization with Company / Organisation

E Familiarization with Cost Structure

E List of Records and Reports

Unit 8 : Cost Audit Programme

E Cost Audit Programme

u Need for preparation of cost audit programme

u Steps to be completed

E Cost Audit Programme specimen

Unit 9 : Checking of Records in Cost Audit

E Section 209 of Companies Act, 1956

E Records to be checked as per Cost Accounting Record Rules, 2011

E Records of Materials

E Labour Records

E Overheads and Indirect Expenses Records

E Depreciation

E Stores and Spare-parts Records

E Extent of Checking

Unit 10 : Cost Audit Notes and Records

E Meaning of Cost Audit Notes and Records

E Cost Audit Notes and Working Papers

E Cost Audit Report Rules, 2011

E Form for filling Cost Audit Report and Other Documents

u Form-I

u Form-II-Form of Cost Audit Report

u Annexure to the Cost Audit Report

u Form-III-Form of the Performance Appraisal Report

Unit 11 : Cost Accounting Record Rules, 2011

E Cost Accounting Record Rules, 2011

u Contents of Cost Accounting Record Rules, 2011

E Form for filling Compliance Report and Other Documents

u Form-A

u Form-B-Form of Compliance Report

u Annexure to the Compliance Report

Unit 12 : Forms of Compliance Reports and Annexure for Sugar Industry

E Form-A-General Information

E Form-B-Form of Compliance Report

E Annexure to the Compliance Report

E Schedule - Proforma A

u Proforma B

u Proforma C

u Proforma D

u Proforma E

u Proforma F

u Proforma G

u Proforma H

u Proforma H-1

u Proforma I

Cost and Management Audit - II

SYLLABUS

Unit 1 : Management Audit : Meaning and Definitions

E Meaning of Management Audit

u Definitions of Management Audit

E Characteristics of Management Audit

E Ten Performance areas of Management Audit

E Need for Management Audit

Unit 2 : Objective and Scope of Management Audit

E Concept of Management Audit

E Objective of Management Audit

E Scope of Management Audit

E Fundamental Considerations

u Areas covered by Management Audit

E Organisational Needs of Management Audit

E Difference between Management Audit & Financial Audit

E Difference between Management Audit & Cost Audit

Unit 3 : Audit of Management Process

E Management Process

E Qualities of Management Auditor

u Functions or Services of Management Auditor

E Procedure of Conducting Management Audit

E Management Audit Programme.

E Audit of Management Process

E Audit Management Functions

Unit 4 : Audit of Management Information System

E Concept of MIS

E Role of MIS in Organization

E Objectives of Management Information System (MIS)

u Need of MIS

u Impact of MIS

E Advantages of MIS

E Conceptual Design Model of MIS

E Audit of MIS

u Audit Process

E Corporate Image

u Meaning & Concept of Corporate Image

u Image Communication Sources

u Evaluation Factors for Corporate Image

u Evaluation Techniques / Procedure

E MIS & Corporate Image Building

Unit 5 : Efficiency Audit

E Meaning & Definition of Efficiency Audit

u Need of Efficiency Audit

u Historical Background of Performance & Efficiency Audit in India

E Objectives of Efficiency Audit

E Purposes of Efficiency Audit

E Scope of Efficiency Audit

E Indices of Efficiency.

E Measurement of Efficiency

E Efficiency Audit Report

E Organisation for Efficiency Audit

Unit 6 : Propriety Audit & Social Audit

E Propriety Audit

u Definition of ‘Propriety Audit’

u Functions of Auditor Related to Propriety Audit.

u Propriety Audit relates to Government Companies

E Social Audit : Meaning & Nature

E Objectives of Social Audit

E Contents of a Social Audit Report.

E Public Documents for Social Audit

E Advantages of Social Audit

Unit 7 : Corporate Services Audit, Corporate Development Audit & System Audit

E Corporate Services Audit

u Meaning and Concept of Corporate Service Audit

u Conceptual Approach of Corporate Services Audit

u Scope of Corporate Services Audit

u Consumer Services Audit

u Checklists on “Consumer Service” evaluation.

E Corporate Development Audit

u Checklist in the Area of corporate Development

E Systems Audit

u Information System (I.S.) Audit

u Need for Information System Auditing

u Information System Auditing

Unit 8 : Valuation of Closing Stock

E Valuation of Closing Stock

E Illustrations

Unit 9 : Calculation of Prices to be Quoted

E Preparation of Cost Sheet, Quotations and Tenders

E Illustrations

Unit 10 : Calculation of Power Cost

E Calculation of Power Cost

E Illustrations

Unit 11 : Calculation of Different Ratios

E Calculations of Different Rations

E Illustrations

Unit 12 : Reconciliation of Cost and Financial Accounting

E Unit Objectives

E Reconciliation of Cost and Financial Accounting

E Illustrations

CONTENTS

Unit 1 Business Policy 1-16

1.0 Introduction 1.1 Objectives 1. 2 Business Policies 1.3 The Genesis of Business Policy 1.4 Evolution

based on Managerial Practices 1.5 Essentials of Business Policy 1.6 Objectives of Business Policy 1.7

Why Create Business Policies? 1.8 The Importance of Business Policy 1.9 The Purpose of Business

Policy 1.10 Characteristics of a Good Policy 1.11 Summary 1.12 Key Terms 1.13 Questions and

Exercises 1.14 Further readings

Unit 2 Strategy : Concept, Definition, Levels, Forms and Issues 17-32

2.0 Introduction 2.1 Objectives 2.2 Concept of Strategy 2.3 Defining and Explaining Strategy 2.4

Levels at which Strategy Operates 2.5 Forms of Organizational Strategy 2.6 Strategic Decision-making

2.7 Issues in Strategic Decision-making 2.8 Schools of Thought on Strategy Formation 2.9 Summary 2.10

Key Terms 2.11 Questions and Exercises 2.12 Further Reading and References

Unit 3 Strategic Management 1 33-46

3.0 Introduction 3.1 Objectives 3.2 Concept of Strategic Management 3.3 Definitions of Strategic

Management 3.4 History of Strategic management 3.5 Levels at which Strategy Operates 3.6 Different

Levels of Strategy 3.7 Forms of Organizational Strategy 3.7.1 Corporate Strategy 3.7.2 Business Strategy

3.7.3 Operational Strategy 3.7.4 Functional Strategy 3.7.5 Grand Strategy 3.8 Importance of Strategic

Management 3.9 Summary 3.10 Key Terms 3.11 Questions and Exercises 3.12 Further Reading and

References

Unit 4 Strategic Management 2 47-60

4.0 Introduction 4.1 Objectives 4.2 Strategists and their Role in Strategic Management 4.2.1 Role of

Board of Directors 4.2.2 Role of Chief Executive Officer (CEO) 4.2.3 Role of Entrepreneurs 4.2.4 Role

of Senior Management 4.2.5 Role of SBU-Level Executives 4.2.6 Role of Corporate Planning Staff 4.2.7

Role of Consultants 4.2.8 Role of Middle-level Managers 4.2.9 Role of Executive Assistant 4.3 Strategic

Management process 4.4 Strategic decision making 4.5 Social & Ethical Issues in Business 4.6 Types of

business ethics issues 4.7 Ethical problems occur in business 4.8 Summary 4.9 Key Terms 4.10 Questions

and Exercises 4.11 Further Reading and References

Unit 5 Strategy Formulation 61-78

5.0 Introduction 5.1 Objectives 5.2 Formulating Strategy 5.2.1 Steps of Strategy formulation 5.3 Formulating

objectives 5.3.1 Understanding Vision 5.3.2 Defining Vision 5.3.3 Benefits of Having a Vision 5.3.4 The

Process of Envisioning 5.4 Mission 5.4.1 Understanding Mission 5.4.2 Defining Mission 5.4.3 How is

Mission Statements Formulated? 5.4.4 Characteristics of a Mission Statement 5.5 Goals and Objectives

5.5.1 Roles of Objectives 5.5.2 Characteristics of Objectives 5.5.3 Issues in Objective-Setting 5.5.4 What

Objectives are Set? 5.5.5 How are Objectives Formulated? 5.6 Summary 5.7 Key Terms 5.8 Questions

and Exercises 5.9 Further Reading and References

Unit 6 Environmental Scanning 79-90

6.0 Introduction 6.1 Objectives 6.2 Characteristics of Environment 6.3 General and Relevant Environment

6.4 Environmental Scanning 6.4.1 Factors affecting Environmental Scanning 6.4.2 Identifying the

Environmental Factors 6.4.3 Structuring Environmental Appraisal 6.4.4 Approaches to Environmental

Scanning 6.4.5 Sources of Information for Environmental Scanning 6.4.6 Methods and Techniques Used

for Environmental Scanning 6.4.7 Pitfalls in Environmental Scanning 6.5 Summary 6.6 Key Terms 6.7

Questions and Exercises 6.8 Further Reading and References

Unit 7 Internal and External Environment 91-110

7.0 Introduction 7.1 Objectives 7.2 Factors of External Environment 7.3 Internal Environment 7.4 SWOT

Analysis 7.4.1 Role and Importance of SWO Analysis 7.5 Resource Audit 7.6 Core Competence 7.7

Strategic and Competitive Advantage 7.8 Value Chain Analysis 7.8.1 Analysis 7.8.2 Usefulness of the

Value Chain Analysis 7.9 Summary 7.10 Key Terms 7.11 Questions and Exercises 7.12 Further Reading

and References

Unit 8 Strategic Planning – Concept, Process, Forms, Merits and

Limitations 111-125

8.0 Introduction 8.1 Objectives 8.2 Concept and Features of Strategic Planning 8.3 The Need for

Planningand Significance of Planning 8.4 Merits of Strategic Planning 8.5 Strategic planning

process 8.6 Strategic Alternatives 8.6.1 Top Down or Planning Down 8.6.2 Bottom Up or Planning Up

8.6.3 Negotiative or Negotiated 8.7 Planning style, structure, and style of management 8.8 Non- Strategic

Planning 8.9 Summary 8.10 Key Terms 8.11 Questions and Exercises 8.12 Further Reading and

References

Unit 9 Strategic Choices and Alternatives 127-140

9.0 Introduction 9.1 Objectives 9.2 Strategic Alternatives 9.3 Generating strategic alternatives 9.4

Classifying strategic alternatives 9.5 Classification based on the desired rate of growth 9.6 Strategic

Choice 9.6.1 International Strategy 9.6.2 Multidomestic Strategy 9.6.3 Global strategy 9.6.4 Transnational

Strategy 9.7 Cultural Aspects of Strategic Choice 9.8 Summary 9.9 Key Terms 9.10 Questions and

Exercises 9.11 Further Reading and References

Unit 10 Strategy Implementation – Concept, Issues, Steps and Problems

141-154

10.0 Introduction 10.1 Objectives 10.2 Concept of Strategy Implementation 10.3 Issues involved in

strategy implementation 10.4 Stages in implementing strategy 10.5 Resource allocation 10.6 Steps

involved in Resource Allocation 10.7 Factors affecting Resource Allocation 10.8 Problems in resource

allocation 10.9 Summary 10.10 Key Terms 10.11 Questions and Exercises 10.12 Further Reading and

References

Unit 11 Functional Implementation 155-168

11.0 Introduction 11.1 Objectives 11.2 Nature of Functional Strategies 11.3 Functional Plans and Policies

11.4 Financial Planning 11.5 Manpower Planning 11.6 Summary 11.7 Key Terms 11.8 Questions and

Exercises 11.9 Further Reading and References

Unit 12 Organizational Structure 169-181

12.0 Introduction 12.1 Objectives 12.2 Structural Mechanism to implement strategy 12.3 Matching

organizational structure with business strategy 12.4 Stages of development of organizational structure 12.5

Summary 12.6 Key Terms 12.7 Questions and Exercises 12.8 Further Reading and References

CONTENTS

Unit 1 Theoretical Framework of Business Environment 1-12

1.0 Introduction to Business Environment 1.1 Unit Objectives 1.2 Concept, significance

and nature of Business Environment 1.3 Types of environment 1.4 Internal and External

Environment 1.4.1 Changing Dimensions of Business Environment 1.5 Summary

1.6 Questions and Exercises 1.7 Further Reading

Unit 2 Changing Dimensions of Business Environment 13-20

2.0 Introduction 2.1 Unit Objectives 2.2 Business Environment Challenges (i) FDI, (ii)

CSR Initiatives, (iii) New Technology, (iv) Carbon Footprint and Kyoto Protocol, (v) Chief

Green Officer, (vi) Laws and Corruption, (vii) Marketing, (viii) Supply chain, (ix) Finance,

(x) Human resources 2.3 Summary 2.4 Questions & Exercises 2.5 Further Reading

Unit 3 Economic Environment of Business 21-34

3.0 Introduction 3.1 Unit Objectives 3.2 Elements of Economic Environment 3.3 Economic

Problem of an Economy 3.4 Economic Systems and Business Environment 3.5 How does

Economic System affect Business Environment ? 3.6 Summary 3.7 Questions and Exercises

3.8 Further Reading and References

Unit 4 Government Policies 35-50

4.0 Introduction 4.1 Unit Objectives 4.2 Monetary Policy 4.3 Fiscal Policy 4.4 Export

Import Policy 4.5 Industrial Policy 4.6 Summary 4.7 Questions & Exercises 4.8 Further

Reading

Unit 5 Economic Planning and Economic Controls 51-56

5.0 Introduction 5.1 Unit Objectives 5.2 Meaning and Definition of Economic Planning

5.3 Need of Economic Planning 5.4 Economic Controls : Meaning and Nature 5.5 Need

for Control 5.6 Types of Control 5.7 Summary 5.8 Questions & Exercises 5.9 Further

Reading

Unit 6 Business Cycles 67-62

6.0 Introduction 6.1 Unit Objectives 6.2 Meaning and definition of business cycle 6.3

Stages or phases of business cycle (brief study) 6.4 Prosperity phase, Recession

phase, Depression phase, Recovery phase 6.5 Summary 6.6 Questions and Exercises 6.7

Further Reading

Unit 7 Economic Roles of the State and Government 63-72

7.0 Introduction 7.1 Unit Objectives 7.2 The Evolving Role of State 7.3 Economic Roles

of Government 7.4 The Economic Roles of the Government in India 7.5 Summary 7.6

Questions & Exercises 7.7 Further Reading

Unit 8 Economic Planning in India 73-84

8.0 Introduction 8.1 Unit Objectives 8.2 Why Planning (Rationale for Planning) 8.3

Important Features of Indian Plans 8.4 Objectives of Economic Planning 8.5 Summary of

Five Year Plans in India (Important Features) 8.6 NITI Aayog 8.7 Summary 8.8 Questions

and Exercises 8.9 Further Reading

Unit 9 International Environment - Multinational Corporations and

Foreign Collaborations 85-94

9.0 Introduction 9.1 Unit Objectives 9.2 Multinational Corporation : Definition,

Characteristics, Regulation 9.3 Foreign Collaboration and Indian Busines - Definition,

Examples, Argument against FC 9.4 Summary 9.5 Questions and Exercises 9.6

Further Reading

Unit 10 International Economic Institutions 95-109

10.0 Introduction 10.1 Unit Objectives 10.2 What is GATT ? (History of GATT, GATT

& WTO) 10.3 GATT and WTO 10.4 Indian Comitment to WTO 10.5 World Bank -

Introduction to Functions 10.6 IMF - Meaning, History, Member Countries Board of

Governors - Function and Role 10.7 Summary 10.10 Questions and Exercises 10.9

Further Reading

SYLLABUS - CORPORATE FINANCE AND LAW- I (COM 431)

1) ROLE, CONSTITUTION AND POWERS OF SEBI

Composition of SEBI Board, Power and Functions of SEBI, Recognition of Stock Exchanges,

Grant of Recognition to Clearing Corporations, Registration and regulation of working of

intermediaries associated with securities markets, Promotion and regulation of self regulatory

organisations, Fraudulent and unfair trade practices, Fraudulent and unfair trade practices,

Investor education and training of intermediaries, Investor Grievance Redressal, Issuing No

Objection Certificates, Information called from, inspections undertaken, inquiries and audit

of stock exchanges and intermediaries, Delegated powers and functions, Investigation,

Enforcement of regulations, Enquiry Proceedings, Prosecution, Cease and Desist proceedings,

Prohibition of Manipulative and Deceptive Devices, Insider Trading and Substantial Acquisition

of Securities or Control, Establishment of Securities Appellate Tribunal (SAT), Composition,

Powers of SAT, Requirements for Appeal to the Tribunal, Powers of Central Government,

Some of the other powers of the board include:

2) MERGER, AMALGAMATION AND WINDING UP OF COMPANIES

Corporate Restructuring Techniques, Merger, Takeover/ Acquisition, Joint Venture, Strategic

Alliance, Merger and amalgamation of companies, Merger or amalgamation of certain

companies, Steps involved in merger and amalgamation- A Flow Chart, Power to acquire

shares of shareholders dissenting from scheme or contract approved by majority, Purchase

of minority shareholding, Power of Central Government to provide for amalgamation of

companies in public interest, Preservation of books and papers of amalgamated companies,

Liability of officers in respect of offences committed prior to merger, amalgamation, etc.,

Winding Up

3) DEPOSITORIES ACT

An overview of Depository System, Benefits of depository system, Dematerialization,

Depository participant, Registered owner and Beneficiary owner, International Securities

Identification Number, The Depositories Act, 1996 Objectives, Eligibility condition for

depository services, Eligible securities required to be in the depository mode, Rights of

depositories and beneficial owner, Register of beneficial owner, Pledge or hypothecation of

securities held in a depository, Furnishing of information and records by depository and

issuer

Option to opt out in respect of any security, Depositories to indemnify loss in certain cases,

SEBI (depositories and participants) regulations, 1996, Rights and obligations of depositories

and its constituents, Governing Board, Disclosures and Corporate Governance, Investor

Protection Fund, Audit of Depositories, Designated Depository Participant, Basic Services

Demat Account (BSDA), Eligible Investor, Charges, Valuation of Holding, Statements, Charges

for statements

4) INVESTMENT DECISIONS

Capital Budgeting, Meaning, Need for Capital investment, Importance of Capital Budgeting,

Process of Capital Budgeting, Capital Rationing, Time Value of Money, Concept, Methods,

Evaluation techniques

5) FINANCIAL ANALYSIS OF CORPORATES

Ratio Analysis, Importance of Ratio Analysis, Limitations of Ratio Analysis, Fund Flow

Analysis, Meaning of Funds, Fund flow statement, Distinction between Fund Flow Statement

and Balance Sheet, Objectives of Fund Flow Statement, Advantages of Fund Flow Statement,

Limitations of Fund Flow Statement

6) COMPANY MEMBERS TRANSFER AND TRANSMISSION OF SHARES

Company Members, Definition of 'Member', Modes of acquiring Membership, Cessation of

Membership, Rights of Members, Register of members, Register of debenture holders or

any other security holders, Maintenance of the Register of members etc. under section 88,

Index of names to be included in Register, Foreign register of members, debenture holders,

other security holders or beneficial owners residing outside India, Authentication, Closure of

register of members or debenture holders or other security holders, Return of changes in

shareholding position of promoters and top ten shareholders, Inspection of registers, returns

etc., Preservation of register of members etc. and annual return, Copies of the registers and

annual return, Transfer of shares, Requirement for registering the transfer of securities,

Power of company to register, Transmission of securities on an application of transferor

alone, Transfer of security of the deceased, Nomination Facility in respect of Shares, Refusal

to Register Transfer and Appeal against Refusal, Rectification of register of members on

transfer of securities, Transmission of shares

7) COMPANY BOARD- ROLE, COMPOSITION & DIRECTORS POWER

Composition of Board of Directors, Number of directorships, Resident Director, Independent

director, Woman director on the Board, Appointment of directors, Application for allotment

of Director Identification Number, Allotment of Director Identification Number., Prohibition

to obtain more than one Director Identification Number., Director to intimate Director

Identification Number., Company to inform Director Identification Number to Registrar.,

Cancellation or deactivation of DIN, Surrender of DIN, Punishment for contravention,

Disqualifications for appointment of director., Duties of directors, Vacation of office of director,

Meetings of Board, Meetings of Board through video conferencing or other audio visual

means, Matters not to be dealt with in a meeting through video conferencing or other audio

visual means, Quorum for meetings of Board, Passing of resolution by circulation., Powers

of Board, Restrictions on powers of Board, Company to contribute to bona fide and charitable

funds, etc., Prohibitions and restrictions regarding political contributions, Power of Board and

other persons to make contributions to national defense fund, etc., Directors' & officers'

Liability Insurance

8) COMPANY MEETINGS AND RESOLUTIONS

Annual General Meeting, Power of Tribunal to call annual general meeting., Power of Tribunal

to call meetings of members, etc., Calling of extraordinary general meeting, Notice of meeting,

Notice through electronic means, Quorum for meetings, Proxies, Voting by show of hands.,

Voting through electronic means., Circulation of members' resolution, Representation of

President and Governors in meetings, Resolutions, Ordinary and special resolutions, Resolutions

and agreements to be filed, Postal Ballot, Items of business to be transacted through postal

ballot, Minutes, Minutes of Narration, Minutes of Resolution, Minutes of proceedings of

general meeting, meeting of Board of Directors and other meeting and resolutions passed by

postal ballot, Inspection of minute-books of general meeting, Report on annual general meeting,

Adjournment of Meeting

9) MANAGEMENT OF WORKING CAPITAL-I

Concept of Working Capital, Origin of Concept of Working Capital, Classification of working

capital, Importance of Working Capital Management, Determinants of Working Capital,

Importance of adequate working capital, Excess or Inadequate Working Capital, Principles

of Working Capital Management

10) MANAGEMENT OF WORKING CAPITAL-II

Operating Cycle, Structure of Working Capital, Measurement of Working Capital

11) LIMITED LIABILITY PARTNERSHIP

Meaning of LLP, Salient Features, Need for Limited Liability Partnership, Distinction between

LLP and Partnership, Distinction between LLP and Company, Incorporation of Limited

Liability partnership, LLP Agreement, Members & partners, A Designated Partner,

Responsibilities of designated partners, Accounts & audit of an LLP, The incorporation &

regulatory forms, Capital contribution, Benefits, hence the differences, Users of LLP,

POSITION OF LLPs UNDER THE INCOME TAX ACT, 1961, Why a new legislation for

LLP

12) E-GOVERNANCE AND XBRL

Organisation of ROC offices under MCA-21, Digital Signature Certificate, Other features

of e-filing of documents under the MCA-21 system, Pre-certification of E-forms, Terms

used while e-filing the forms, E-stamp, Key benefits of MCA 21 project, General

structure of an e-form and e-filing process, XBRL, XBRL tags, XBRL taxonomies, Benefits

of XBRL

SYLLABUS-CORPORATE FINANCE AND LAW-II (COM 432)

1) INTRODUCTION TO A COMPANY

Meaning and Definition of a Company, Nature and Characteristics of a Company,

Types of Companies, Private Company, One Person company (OPC), Small

Company, Public Company, Limited Company, Unlimited Company, Government

Companies, Foreign Companies, Holding, Subsidiary Companies and Associate

Companies, Associate Company, Investment Companies, Producer Companies,

Nidhi Companies

2) INCORPORATION OF A COMPANY

Promoter, Incorporation of Companies - Procedural Aspects, Filing of Documents

with Registrar of Companies, Issue of Certificate of Incorporation by Registrar,

Allotment of Corporate Identity Number, Memorandum of Association, Contents

of Memorandum, Name Clause, Situation Clause, Objects Clause, Doctrine of

ULTRA VIRES, Liability Clause, Capital Clause, Articles of Association, Nature

of Articles, Articles Subordinate to Memorandum, Registration of Articles,

Statutory Requirements, Contents of Articles

3) CAPITAL OF A COMPANY

CAPITAL-Meaning, Comparison between Preference Share Capital and Equity

Share Capital, Issue of Securities at a Premium, Prohibition to Issue Shares at

Discount, Issue of Sweat Equity Shares, Shares with Differential Voting Rights,

Further Issue of Shares, Bonus Shares, Employee Stock Option Scheme, Issue

of Shares on Preferential Basis, Alteration of Share Capital, Difference between

Share and Stock, Reduction of Share Capital (Section 66), Difference between

Alteration of Share Capital and Reduction of Share Capital, Reduction of Share

Capital without Sanction of the Court, Buy Back of Securities (Section 68)

4) PRIVATE AND PUBLIC PLACEMENT

Meaning and Definition of Prospectus, Invitation to Public, Private Placement,

Public Offer, Deemed Prospectus, Shelf Prospectus, Red-Herring Prospectus,

Abridged Prospectus, Liability for Untrue Statement in Prospectus

5) ALLOTMENT OF SECURITIES

Securities, General Principles Regarding Allotment of Securities, Provisions

relating to allotment of securities - Companies Act 2013, Companies (Prospectus

and Allotment of Securities) Rules, 2014, Issue of Certificates, Issuing duplicate

share certificates to defraud Time of issue of Certificate of Securities, Significance

of Share Certificate, Damages against Company and Directors for wrong

certificates, Split Certificate, Purpose and Form of Share Certificate, Whether

Share Certificate an Official Publication, Legal Effect of Share Certificate,

Personation of Shareholder, Calls and Forfeiture, Forfeiture of Shares, Re-issue

of Forfeited Shares, Surrender of shares

6) COMPANY ACCOUNTS AND AUDIT

Accounts of Companies, Requirement of Keeping Books of Account (Section

128), Financial Statements, Re-Opening of Accounts on Court's Or Tribunal's

Orders, National Financial Reporting Authority (NFRA), Internal Audit, Who

can be an Internal Auditor, Appointment of Auditors, Powers and Duties of an

Auditor, Audit Report, Cost Audit, Meaning and Definition of Dividend, Final

dividend, Interim dividend, Declaration of Dividend (Section 123), Unpaid

Dividend Account (Section 124), Investor Education and Protection Fund (Section

125), Punishment for Failure to Distribute Dividends

7) REGULATORY FRAMEWORK RELATING TO SECURITIES

MARKET INTERMEDIARIES

Role of Capital Market Intermediaries, Merchant Bankers, SEBI (Merchant

Bankers) Regulations, 1992, Registrars and Share Transfer Agents, SEBI

(Registrars to an Issue and Share Transfer Agents), Regulations, 1993,

Underwriters, SEBI (Underwriters) Regulations, 1993, Bankers to an Issue,

SEBI (Bankers to an Issue) Regulations, 1994, Debenture Trustees, SEBI

(Debenture Trustees) Regulations, 1993, Syndicate Members

8) REGULATORY FRAMEWORK RELATING TO SECURITIES

MARKET INTERMEDIARIES- II

Stock Brokers & Sub-Broker, SEBI (Stock Brokers and Sub-Brokers)

Regulations, 1992, Certification by Practising Company Secretary, Portfolio

Managers, SEBI (Portfolio Managers) Regulations, 1993, Obligations of Portfolio

Manager, Custodians, SEBI (Custodian of Securities) Regulations, 1996,

Conditions of Certificate, Obligations of Custodian, Investment Adviser, SEBI

(Investment Advisers) Regulations, 2013, General Obligations and Responsibilities

9) CORPORATE FINANCE

Corporate Finance, Concept of Corporate Financial Decisions, Nature of

Financial Decisions, Types of Corporate Financial Decisions, Objectives of

Corporate Financial Decisions, Factors Influencing Corporate Financial Decisions

10) SOURCES OF FINANCE

Sources of funds, Shares/ Securities, Loan stock, Retained earnings, Bank

lending, Leasing, Hire purchase, Government assistance, Venture capital

11) FINANCING DECISION- COST OF CAPITAL

Cost of Capital, Classification of Cost of Capital, Importance of Cost of Capital,

Factors Determining the Firm's Cost of Capital, Controllable Factors Affecting

Cost of Capital, Measurement of Cost of Capital, Cost of Debt (Kd), Cost of

Preference Share Capital, Cost of Equity Capital, Weighted Average Cost of

Capital, Cost of Capital and Its Implications in Budgeting Decisions

12) FINANCING DECISION-CAPITAL STRUCTURE

Meaning of Capital Structure, Significant of capital structure, Capital Structure Vis-

A-Vis Financial Structure, Planning and Designing of Capital Structure, Optimal Capital

Structure, Factors Influencing Capital Structure, Determinants of Capital Structure,

Capital Structure and Valuation, Capital Structure Theories, EBIT - EPS Analysis,

Measures of Operating and Financial Leverage, Operating Leverage, Financial

Leverage, Distinguish Between Operating Leverage and Financial Leverage, Combined

Leverage, Risk and Leverage

13) CORPORATE TREASURY MANAGEMENT

Objectives of Treasury Management, Role of Treasury Management and Benefits,

Significance of Treasury Management Function, Functions and Scope of Treasury

Management, Relationship between Treasury Management and Financial Management,

Difference between Financial Management and Treasury Management, Treasury

Organization: Picking The Right Model, Role and Responsibilities of Treasury Manager,

Tools of Treasury Management, Environment for Treasury Management, Role of

Information Technology in Treasury Management, Liquidity Management Vis-A-Vis

Treasury Management, Regulation & Supervision of Treasury Operation, Treasury

Control Mechanism, Treasury Operations in Banking

Research Methodology-I

6 Research Methodology-I

NOTES

Unit 1 : Introduction to Research Methodology

Meaning of Science, Functions of Science, Social Science, Classification Social Science

Unit 2 : What is Research?

What is Research?, Types of Research, What is Social Research?, Functions or purpose of

Research, Research and Scientific Attitude, Comparision between Pure Sciences Research

and Social Sciences Research, Essential Characterization of Research (or Researcher)

Unit 3 : Selection and Formulation of A Research Problem

Research in Commerce and Management, Steps in research, Research output and policy

Unit 4 : Hypothesis

Hypothesis- Meaning and Characteristics, Formulation of Hypothesis, Test of Hypothesis

Unit 5 : Theory of Causation

Theory of Causation and Concept, An Example

Unit 6 : Research Design

Research Design- Meaning, Research Design- Need and Features, Types of Research Design

Unit 7 : Methods of Data Collection

Methods of Data Collection : Primary Data, Advantages, Disadvantages/Limitations

Secondary Data : Advantages Disadvantages/Limitations

Unit 8 : Primary and Secondary Data

Method of Primary Data CollectionObservation Method, Interview Method, Questionnaire

Method, Sources of Secondary Data

Unit 9 : Sampling Techniques

Sampling Techniques, Concept, Theory of Sampling, Scope of Sampling Method, Features of

Sampling Method, Limitations of Sampling Techniques, Characteristics of Ideal Sampling, Types

of Sampling Method, Probability Method, Non-Probability Method, Sample size, Sampling and

Non-sampling Errors

Unit 10 : Stages of Data Analysis

Stages of data analysis and interpretation, Editing, Coding, Classification,Tabulation

Unit 11 : Analysis and Interpretation of Data

Diagrammatic representation of data, Types of Diagrams, Analysis of data, Types of data analysis,

Interpretation

Unit 12 : Research Report

Research report - meaning, Contents of research report, Significance of report writing, Essential

qualities of good report, Steps in writing research report

RESEARCH METHODOLOGY- I (COM 433)

SYLLABUS

Research Methodology-II

6 Research Methodology-II

NOTES

RESEARCH METHODOLOGY- II (COM 434)

SYLLABUS

Unit 1 : Research Paper

Meaning of Research, Definition of a research paper, Scope of a research paper, Steps in

writing a research paper, Some important aspects

Unit 2 : Research Paper : Example-1

Unit 3 : Research Paper : Example - 2

Unit 4 : Review Article

Meaning of review article, Purpose of the review article, Contents of review article, Precautions

of writing review article, Steps in writing a review article

Unit 5 : Review Article : Example - 1

Book review, Articles in journals, periodicals and books review, Articles in leading newspapers

review, Working papers / Discussion papers / Study reports review, Articles on Websites review

Unit 6 : Review Article : Example -2

Introduction, Book review, Articles in journals, periodicals and books review, Articles in leading

newspapers & web & theses review, Reports, speeches, papers review

Unit 7 : Case Study Method

Case Study Method - Meaning and Characteristics, Merits and Demerits of Case Study Method,

Presentation of Case Study Method

Unit 8 : Case Study Method : Example-1

Unit 9 : Case Study Method : Example-2

Unit 10 : Project Work

Project Work Concept and Definition, Characteristics of project work, Importance and selection

of project work, Structure and contents of project, Guidelines or project outline, Effective writing

of project, Viva-voce.

Unit 11 : Project Work : Example - 1

Reasons for the choice of the topic, Objectives of the Study, Uniqueness of the study, Research

Methodology, Chapter Scheme of the Study, Bibliography, Appendix

Unit 12 : Project Work : Example - 2

Introduction, Reasons for the choice of the topic, Objectives of the Study, Research Methodology,

Limitations, Chapter Scheme of the Study, Bibliography, Appendix

��

��

��

��

��

��

�� !�" #� �$%�& � �� '�

��( ��%�)�� !�� *+�� $%�& � � �'��,��- �+��.�� %�� $%�& � �� '�

�� !"��

�/ � �� 01 #�� $ � 2� �- �& ��

�/ � � �� !�" #� � � �0� �� $ � 2� �- �& ��

(/ %�)�� !�� 3 �0�� $ %�� - �& ��,/ - �+��.�� %�� 0�� $ %�� - �& ��

�

��#��$��

��0 � �� 4 � � � *� � � $ � � � �� 5 �6 �� 7 �� 0 %�� $ � � � %� ��

8��+�� $ *9�:�� *� �� 9:�0 ��0 %��0 � �� %�� 0� 3 �� 0 � & �0�� ; 2� �.��

0 � �.*��" �� 0� �� " �� *� � �$ & 2� �� < � +�� +�� %�� 0 %�� & �8� +�� %� � �+�� =� �

)�� &� � �� 8�>: � �� )� � �� 0 %�� ?@�� 5 �6 � � �!�� +� �� 3 � 0� � � �� +� ��

" �6 �A�� +�� A� �� +�� - .� $ �.�� %� �� 9:� 0 �& � B $ � � �� & +�� ; ?� ��

� �C?%�� *� � � � �� !��& +�� C� D�� 3 � �� %� � " �� 0� 2� � !�� $ � � � � *� �� %��

0 � � �� D�� %�� 0 E � � #� � 0� �+�� 0"� � � �� A� � � �� *D�� 0 %��

��

��

��

��

��

��

��

��

��

� ��!"�� #��"��#��"��$��

�%��&��

�'� ��

��

��

��

�� !��

�� (�� (��%�

�� (��)�

��

�� *��

��%�(�� !�� (��

��

��'��+��

��)��&��

��

��

��

��

�� (��(��%�

�� !,��%�

�� !��(�� *��'�

��%��$��)�

��

��'��

��)��

�� !"�

��&��

�� %�

��

��

�� '�

��'�

��(��!��,��)�

�� )�

��

��!��

��

��%�� (��(��

��'��

�#��$�%�� &�� '��""�

(��#�%�� )*�� +��",�

��)�� (��(�� -��-�� -��

�(�� '�

�� -%��&� ��.�� "��

��&��

��

��

�� %�

��%�

��./01234/51.��%�

�� %��

/��.�� -�� ,��

�� &�� % �

�� -�0� + �� -��1�� #� �� ,"�

� ��$��!�6��6��'�

��+�� 2�� 3��

�%��&�� '��

'��2�� 4� -5��3"�

�'��&�� ''�

0+��-� ��/�� .�� 3��

�)��*�� '��

.�-�� 6�

��

4 �#�� 7�

�)��&�� (��)��

��&��)��

�� )��

�� !��

%�� )%�

%��)%�

%�� )'�

%��(��$��)��

%��7�(��

8�� +�� 97�

0 �� : ��9��

;�� 9��

� ��-%��)*�� 9!�

4��#�� %��9"�

0�� <��4�� %�$��=��$ ��#� ��93�

%� ��)�

��> ��(�� 767�

%�%��

%�'��&��

%�)� ��

��

�� "#��$#��%��

'��

'��

��

'��7�� (��(��

$�5$��76"�

$�5:��76,�

:��5$��763�

:��5:��76��

$��769�

$��(� ��'�� ?��769�

$�5$�� 777�

'��(��8��

�� 77!�

��).&��=��77!�

�0�8&��=��77"�

0'8��0��)��)��0:��=��77,�

&� � ��77��

0�� 779�

'��8��(��(��

$�5$��-��0�� 7��

'� �� '�

'�%��&��)�

'�'� ��

�� !��

)��

)��

)�� ((��

)��(��

)�� !�� %�

)� �� '�

8�� 7!��

)�%��$��

��

(��5��5(��7!"�

)�'��&��'�

)�)� �� )�

��

��

��

��!�� ((��

��!�� !�� (��

��!�� !��

�� !��((��

��%�� '�

��'��!�� !��

��)�� %��

�� !��%��

�� !�� %%�

��&��%)�

�� %)�

��

�� $��#��

�� %��

��%��

��

�� (�� '�

��!��(��'�

�� (��'��

� ��(��(��' �

�%��+�(��(��''�

�'�� '��

�)�� )�

��!�� !�� )��

�� )��

��&��) �

�� )%�

��$�� !��

�� )'�

��)'�

��((� !��'��)'�

��

��(��

� �� !��!��

�%��&��

�'� ��

��

�� %�

��

��%�

��9:10/;.4<�1=�;::>54;/51.�1=�?@;/�?<�><;0.�/1�:0;4/54<��'�

��@<��;5.-�/@<��01A><9��.2�/@<��1>3/51.��'�

.��'��79��

��79��

��> ��79��

��4� � ��799�

��,��

$�� @��?��66�

�� A13/�/;><./��

��%��?1�01;2B�5.�>5=<*� 1;2�/1�C0<;/.<BB�;.2�/@;/�1=�9<251405/D��

��'��5.25.C�D130�E154<��

��)��7� ��!�� %�

��F�<>:�1/@<0B�/1�=5.2�/@<50�E154<��'�

��7��

��G<43/51.��;:��

��((� !��)/@��

��B5.C��30��154<B��5B<>D�/1��<0E<��/@<0B��

��&��

��

_yë`{ejU

boIH$ : S>m°. g§Vmof _wimdH$a, S>m°. H$ënZm _wimdH$a, S>m°. {dO¶m nmQ>rb

KQ>H$ 1 : _yë`o d _yë`{ejU : VmpÎdH$ AmoiI 1

KQ>H$ 2 : _yë`{ejU : AmT>mdm d gÚ:pñWVrV JaO 27

KQ>H$ 3 : Z¡{VH$ ‘yë¶ Am{U _yë` éOdUyH$ 59

KQ>H$ 4 : _yë` {dH$mg 65

KQ>H$ 5 : _yë`{ejUmMo _yë`_mnZ Am{U g§emoYZ 87

`ed§VamdMìhmU_hmamï>_wŠV {dÚmnrR>

GEN 203

nX²>ì¶wÎma nXdr {ejUH«$_

� � � � � � � � � � �� ! " # " $ " %� � & ' � ( � ) � � � * � � � � � + �� , - ( . � � / � 0 � � ( � � � � 1 � � � + �� 2 3 4 " % ! " 5 ! "� � � 6 � � � � � � � � � �� & 7 " 4 8 $ " % ! " " % 9 2 % : " $ " % ! " 5 ! " 3 ; < � � � � � � � 6 � � � � ) � � � � =� � , * � ) � � > � � � � � � ? ? � � @ � � � � ( � � � A� � B � � ? � � � � � 5 ! " 3 : $ " 3 > B A � 1 � � � + �� C D E � � � F G H I � � � D � E � J K � ' � � � � � )& � � L � � @ � � � � � M � � ( 3 " % " � N � � � O " % : $ "& � & P � � ? � � � � � � � � � � � � � � � � � � � 1 � � � + �� Q R S � � D S � T � U � S � � � F R S V S � � � � �, � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �, � � < @ W � � � � X � � � � � � � � � � ) � � � � � � �, � & 6 � � � � � � ) � � � � � � �, � , Y � � � � � � � � � ? � � � � � � � � � � � � � � ), � B � � ? ) � � � � � � � � � � Z � � � � � � � � � � ? � � � � 1 � � � + �� Q � � � � � � F � � G � V � � [ � � � [ � � IB � � Z � � � � � � � \ ] L � � � � � )B � � Z � � � � � � � � � � � � � � � � � � � � � � � )B � & Z � � � � � � � � � � � � � � � � � M � � � �B � , Z � � � � � � � � � � � � � � � � � � � � � �B � B Z � � � � � � � � � � � ? ( � � ? � ( � 1 � � � + �� Q � ^ � V � � V � [ � � � �_ � � � � � � * � � � � � � � � P � � ? � � � � � � �_ � � * � ) � � * � � � � � � � � P � � ? � � � � � � �_ � & 0 � ) � � � � � � + � * � � � � � � � � P � � ? � � � � � � �_ � , ` � � � � � a * � � � � � � � � P � � ? � � � � � � �_ � B b 9 9 4 8 c $ 8 5 " > L ? � � � � � � � d � � ( � � e � � � A * � � � � � � � � P � � ? � � � � � � � & 1 � � � + �

01234235 36789 868 6 7 86 4 96 9 86 96 9 86 6 06 7 8 - ycmou

Documents

Transcript of 01234235 36789 868 6 7 86 4 96 9 86 96 9 86 6 06 7 8 - ycmou