b.com part iii (hons. in accounting & finance)...meaning; relevant standard and meaning of...

Academic Calender for B.Com (Hons. & Gen) course 2013-14

B.COM PART III (HONS. IN ACCOUNTING & FINANCE)

Paper 3.5h : FINANCIAL ACCOUNTING – III Full Marks : 100

Unit Topic Details Duration No. of

CLASSES

to be

tought

MODULE-I : 50 MARKS

1 Business

Acquisition and

Conversion of

Partnership into

Limited

Company :

Profit/Loss prior to incorporation; Accounting for

Acquisition of business – Conversion of Partnership

into Limited Company, with and without same set of

books – Amalgamation firms, accounting in the books

of transferor and transferee firm.

JULY

TO

SEPTEMBER

08

2 Company

Merger and

Reconstruction :

Amalgamation, Absorption and Reconstruction – Meaning; relevant standard and meaning of different

terms, Accounting in the books of Transferor Company,

Accounting in the books of Transferee (both for

amalgamation in the nature of Merger and of Purchase);

inter-company transactions (including inter-company

share holding).

Inter reconstruction – meaning, provisions and

Accounting, Surrender of Shares for redistribution;

preparation of Balance Sheet after reconstruction.

12

06

3 Valuation of

Goodwill and

Shares :

Valuation of Goodwill – valuation using different

methods, i.e., Average Profit, Super Profit,

Capitalisation and Annuity. Valuation of Shares – Valuation using different

methods, intrinsic, Earnings, Dividend Yield, Earnings-

Price, Cum-div and Ex-div., Majority and Minority

view and Fair Value.

08

4 Holding

Company :

Meaning of Holding Company & Subsidiary Company;

relevant standard; Consolidation of Balance Sheets of

Parent & Subsidiary (only one); Minority Interest –

Basic principles and preparation of CBS; CBS with loss

balance of Subsidiary – Treatment for; Revaluation of

Assets of Subsidiary; intra-group Transactions, Holding

of different securities, Consideration of dividend paid or

proposed by Subsidiary in CPS; Bonus Shares issued or

proposed to be issued by Subsidiary (excluding shares acquired on different dates by the Parent company,

chain and cross holding).

18

TOTAL NO. OF CLASSES 52

5 Liquidation of

Companies :

Mode of Liquidation; Disposal of Assets; Order of

Payments of Liabilities; Statement of affairs and 08

Deficiency/Surplus Account; Receiver’s Receipts and

Payments Account; Liquidator’s Final Statement of

Account.

6 Accounts of

Banking

Companies :

Difference between balance sheet of banking and non-

banking company; prudential norms, Asset structure of

a commercial bank, Non-performing assets (NPA).

FROM 1ST

OCTOBER

TO 9TH

OCTOBER

AND FROM

6TH

NOVEMBER

TO

24TH

DECEMBER

05

MODULE-II : 50 MARKS

1 Introduction to

Accounting

Theory :

Concept of Accounting Theory; relation with practice;

GAAP, Capital – capital maintenance concepts, relation with income; Limitations of Historical Cost

Accounting; Introduction to Fair Value Accounting.

12

2 Introduction to

Financial

Statements :

Nature and Component of Financial Statement;

Meaning and Need for FSA, Traditional & Modern

approaches to FSA, Parties interested in FSA.

Comparative Statement – meaning, preparation,

uses, merits and demerits.

Common-size Statement – meaning, preparation,

uses, merits and demerits.

Trend Analysis – meaning, determination, uses,

merits and demerits.

18


3 Accounting

Ratios for FSA :

Meaning, objective, classification of Accounting Ratios,

Advantages & Limitations, Preparation of Financial

Statement and State of Proprietor’s fund from the given

Ratios, Computation, Analysis and Interpretation of important ratios for measuring – Liquidity, Solvency,

Capital Structure, Profitability and Managerial

Effectiveness.

JANUARY

TO

MARCH

15

4 Funds Flow

Statement :

Concept of fund, meaning, nature, various sources,

advantages & limitations of Fund Flow Statement and

its preparation.

12

5 Cash Flow

Statement :

Meaning, objectives, difference with Fund Flow

Statement; activity classification and preparation and

presentation as per AS-3.

12


SELECTION TEST FROM 2nd week of January

REMEDIAL CLASSES FROM February to March

UNIVERSITY EXAMINATION FROM middle of March


Paper 3.6h : Auditing Full Marks : 100

Unit Topic Details Duration No. of

CLASSES

to be

tought

MODULE-I : 50 MARKS

1 Introduction Definition, Nature, Scope, Objectives, Principles and

Techniques of Auditing – Advantages and Limitations of

Auditing – Relationship between Auditing and Accounting,

Auditing and Accounting Control – Errors and Frauds in

Accounting and Role of the Auditor in detection and

prevention of the same – Different types of Audit : Internal, Interim, Periodical, continuous, Statutory and Non-statutory

Audit.

JULY

TO

SEPTEMBER

12

2 Audit

Process :

Preparation before commencement of a new Audit – Audit

Memorandum – Audit Programme – Audit Working Papers

(ownership and lien) – Audit evidences – Audit File – Audit

Note Book – Test Checking, Cut-off Checking and

Auditing-in-Depth.

08

3 Internal

Control and

Internal

Check

Meaning, Objectives and Elements of Internal Control

System – Internal Control Questionnaire regarding Wage

Payment, Sales, Purchases and Stores – Relation between

Internal Control and Internal Check – Auditor’s Role

regarding Internal Control and Internal Check – Application

of concepts of Materiality and Audit Risk.

20


4 Audit

Procedure Vouching : Meaning, Objectives, Importance, General

Principles and Procedure – Valuation and Verification of

Assets and Liabilities with special reference to Plant and

Machinery, Land & Building, Goodwill, Investment, Patent

and Copyright, Trade Receivables & Payables, Inventories,

Loans, Contingent Liabilities and Contingent Assets –

Auditor’s Role. (15 Marks / 10 Lectures)

FROM 1ST

OCTOBER

TO 9TH

OCTOBER

08

6 Audit of

Limited

Qualification, Appointment, Remuneration, Removal,

Status, Rights, Duties and Liabilities of Company Auditor – 15

Companies Audit of Profit & Loss Account and Balance Sheet – Audit

of Branches and Holding Companies – Audit of Divisible

Profit and Dividend with special reference to Depreciations,

Reserve and Provisions (with relevant Case Laws) –

Professional Ethics and Independence of Company Auditor.

AND FROM

6TH

NOVEMBER

TO

24TH

DECEMBER Audit of

Other

Institutions

Audit of Banks, Insurance Companies (General and Life

Insurance), and Educational Institutions (with relevant

Legislations, RBI and IRDA Norms).

12


7 Auditor’s

Report

Definition, Contents and Classification (clean, qualified,

disclaimer, negative, piecemeal) – True and Fair View

(Concept and General Considerations) – Distinction between Auditor’s Report and Auditor’s Certificate.

JANUARY

TO

MARCH

12

8 Investigation Meaning, Purpose and Distinction with Auditing – Principles

to be followed in Investigation when (a) A Fraud is

suspected, and (b) A running business is proposed to be

purchased.

12

9 New Areas

of Auditing

Cost Audit – Tax Audit – Management Audit – Social Audit

– Environment Audit – Audit in Computerized Environment

(EDP Audit) – Performance Audit, Propriety Audit –

Concepts of Indian Audit Standards – Audit Committee.

16






Paper 3.7h : FINANCIAL MANAGEMENT

Full Marks : 100

Unit Topic Details Duratio

n

No. of

CLASSES

to be

tought

1 Introduction

Definition and Scope of Financial

Management

Important functions of Financial Management

Objectives of a firm : Profit maximization vs.

value maximization

Time Value of Money : Compounding and

Discounting techniques – Concepts of Annuity

and Perpetuity.

Risk-return relationship.

JULY

TO

SEPTEMBER

12

2 Sources of

Finance and Cost

of Capital

Different sources of finance : Long term and Short term

sources

Cost of Capital : concept, relevance of cost of

capital, specific costs – methods of calculating

Cost of Equity, Cost of Retained Earnings, Cost of Debt and Cost of Preference Capital;

and Weighted Average Cost, rationale of after-

tax-weighted-average cost of capital, marginal

cost of capital.

15

3 Leverage

Concept, types and significance of leverage,

Concept of Business Risk and Financial Risk –

Derivation of Operating and Financial

Leverage and Combined Leverage, EBIT-EPS

analysis – Indifference Point.

15


3 Capital Structure

Theories Meaning and Importance of Capital Structure,

Factors influencing Capital Structure, Linkage

between Cost of Capital and Capital Structure,

Designing Optimum Capital Structure, Various

Capital Structure Theories (NI, NOI and MM

approach).

FROM 1ST

OCTOBER

TO 9TH

OCTOBER

AND

FROM 6TH

10

4 Working Capital

Management

Concept of Working Capital; Types of

Working Capital, Determinants of Working

Capital, Meaning of Working Capital

Management.

12

Estimation of Working Capital Needs;

Operating or Working Capital Cycle.

Various sources of finance to meet the working

capital requirements.

Management of Cash, Receivables, Inventory

(Basic Concept).

NOVEMBE

R

TO

24TH

DECEMBER

5 Capital

Expenditure

Decisions

Meaning, Objectives & Importance,

Techniques of Decision Making; Non-

discounted and Discounted Cash Flow

Approaches – Payback Period Method,

Accounting Rate of Return, Net Present Value,

15


5 Capital

Expenditure

Decisions

Profitability Index, Internal Rate of Return,

Discounted Payback Period, Ranking of

Competing Projects, Capital Rationing

(elementary level).(Revisional classes)

JANUARY

TO

MARCH

12

6 Dividend

Decisions

Meaning and Significance; Determinants of

Dividend Policies.

Some dividend policies and formulating a

dividend policy.

Dividend theories; Walter’s Model, Gordon’s

Model, Modigliani and Miller Theory.

12

7 Financial

Control

Concept, Objectives and Steps, Major Tools of

Financial Control, Advantages and Limitations

of Financial Control System.

10





Paper 3.8h Quantitative Techniques & Project Work (QTPA) MODULE –I (QUANTITATIVE TECHNIQUES)

(50 Marks)

Units Topic Details Duration No. of

CLASSES

to be tought

1 Formulation

of Linear

Programming

Problems

(LPP).

Graphical solution of LPP. Convex Set. Basic Solution,

BFS.

JULY

TO

SEPTEMBER

10

2 Simplex

method &

Simplex

algorithm

Big M method (without two-phase method & without

degeneracy)

16


3 Balanced Transportation Problems with optimality test

(without profit matrix).

FROM 1ST

OCTOBER

TO 9TH

OCTOBER

AND FROM

6TH

NOVEMBER

TO

24TH

DECEMBER

10

4 Assignment (without profit matrix), Travelling

Salesman Problems

06

5 Salesman problems

04


6 Dual L.P.P.

JANUARY

TO

MARCH

03

7 Games Theory (Saddle Point, dominance &

Graphical). 10

8 Numerical

Method Operators (V, A, E), Difference Table, Interpolations –

Newton’s Forward, Backward & Lagrange with Simple

Problems.

12





B.COM PART III (GENERAL)

Paper 3.5g Financial Accounting III (General)

Units Topic Details Duration No. of

CLASS

ES to be

tought

MODULE –I

(50 Marks)

1 company

Final

Accounts

Introduction to Schedule VI

Rules for Managerial Remuneration

Dividend & applicable tax

Company transfer to reserve

Preparation of P/L A/C and Balance Sheet.

(

JULY

TO

SEPTEMBE

R

12

2 Company

Merger and

Reconstructio

n

Amalgamation, absorption and reconstruction – meaning; relevant standard and meaning of different

terms, Accounting in the books of transferor company

– Accounting in the books of transferee company

(amalgamation in the nature of Purchase merger only);

Inter-company transactions and elimination of common

debtors & creditors only. (excluding inter-company

share holding), Preparation of Balance Sheet.

Internal Reconstruction – meaning, provisions and

Accounting, preparation of Balance Sheet after

Reconstruction.

18


4 Introduction

to

Accounting

Standards

Financial Accounting Standards: Concept, benefits,

procedure for issuing accounting standards in India.

IFRS (concept only).

FROM 1ST

OCTOBER

TO 9TH

OCTOBER

AND

FROM 6TH

NOVEMBE

R

TO

24TH

DECEMBE

R

06

5 Business

Acquisition

Profit/Loss prior to incorporation and accounting for

business acquisition.

12

12

6 Valuation

Goodwill – valuation using different methods (Average

Profit and Super Profit)

Shares – Valuation using different methods : Intrinsic

Value, Earning Yield Value and Fair Value (Simple

type).


MODULE –II

(50 Marks)

6 Holding

Company

Meaning of Holding Company

Meaning of Subsidiary Company

Relevant Standards

Consolidation of Balance Sheet of Parent & Subsidiary

(only One)

Minority Interest

Basic Principles and Preparation of CBS; CBS with

loss balance of subsidiary.

Treatment for Revaluation of Assets of Subsidiary,

Intra-group transactions and holding of equity shares

only (simple problems only)

JANUARY

TO

MARCH

18

7 Introduction

to

Accounting

Theory

Concept of Accounting Theory; relation with practice,

GAAP

Capital – capital maintenance concepts, relation with

income, limitations of Historic Cost Accounting;

(

06

8 Introduction

to Financial

Statements

Nature and components of Financial Statements;

Meaning and Needs for FSA, Traditional & Modern

approaches to FSA, Parties interested in FSA.

Comparative Statements – meaning, preparation, uses,

merits & demerits.

Common-size statements – meaning, preparation, uses,

merits & demerits.

12


SELECTION TEST FROM 3rd week of January


UNIVERSITY EXAMINATION FROM middle of April

Paper 3.6g Auditing (General) Units Topic Details Duration No. of

CLASS

ES to be

tought

MODULE –I

(50 Marks)

1 Introductio

n Definition, Nature, Scope, Objectives, Principles and

Techniques of Auditing – Advantages and limitations Auditing

– relationship between Auditing and Accounting. Auditing and

Accounting control – Errors and Frauds in Accounting and the

Role of the Auditor in detection and prevention of the same –

Different types of Audit; Internal, Interim, Periodical, continuous, Statutory and non-statutory Audit.

JULY

TO

SEPTEMBER

15

2 Audit

Process

Preparation before commencement of a new Audit – Audit

Memorandum – Audit Programme – Audit Working papers

(Ownership and lien0 – Audit evidences – Audit File – Audit

Note Book – Test Checking, Cut-off Checking and Auditing-in-

Depth.

06

3 Internal

Control

and

Internal

Check

Meaning, Objectives and Elements of Internal Control System –

Internal Control Questionnaire regarding Wage payment, sales,

purchases and stores – Relation between Internal control and

Internal check – Auditor’s Role regarding Internal Control and

Internal Check – Application of concepts of Materiality and

Audit Risk.

12


4 Audit

Procedure

Vouching, meaning, objectives, Importance, General Principles

and procedure – valuation and verification of Assets and

Liabilities with special reference to Plant and Machinery, Land

and Building, Goodwill, Investment, Patent and Copyright,

Trade Receivables & Payables, Inventories, Loans, Contingent

Liabilities and Contingent Assets – Auditor’s role.

FROM 1ST

OCTOBER

TO 9TH

OCTOBER

AND FROM

6TH

NOVEMBER

TO

24TH

DECEMBER

12

5 Audit of

Limited

Companies

Qualification, Appointment, Remuneration, Removal, Status,

Rights, Duties and Liabilities of Company Auditor – Audit of

Profit & Loss Account and Balance Sheet – Audit of Branches

and Holding Companies – Audit of Divisible Profit and

Dividends with special reference to Depreciations, Reserve and

Provisions (with relevant Case Laws) – Professional ethics and

independence of Company Auditor.

15

08

6 Audit of

Other

Institutions

Audit of Banks, Insurance Companies (General and Life

Insurance), and Educational Institutions (with relevant

Legislations, RBI and IRDA Norms).


7 Auditor’s

Report

Definition, contents and Classification (clean, qualified,

disclaimer, negative, piecemeal) – True and Fair View (concept

and general considerations) – Distinctions between Auditor’s

Report and Auditor’s Certificate.

JANUARY

TO

MARCH

06

8 Investigati

on Meaning, purpose and Distinctions with Auditing – Principles

to be followed in investigation when 9a) A Fraud is suspected,

and (b) A running business is proposed to be purchased.

06

9 New areas

of Auditing

Cost Audit – Tax Audit – Management Audit – Social Audit –

Environment Audit – Forensic Audit – Audit in Computerised

Environment (EDP Audit) – Performance Audit, Propriety

Audit – Concepts of Indian Audit Stnadards – Audit Committee.

12





Paper 3.7g Financial Management (General)

Uni

ts

Topic Details Duratio

n

No. of

CLASS

ES to be

tought

1 Introduction Definition, nature, scope and important functions of

Financial Management.

Evaluation of Financial Management: Traditional and

Modern.

Objectives of the firm : Profit maximization vs. Value

maximization.

08

2 Basic

Concept Time Value of Money : Compounding and

discounting techniques, Concept of Annuity and 12

Perpetuity.

Risk-Return Relkationship.

Financial Environment in which a firm has to operate.

JULY

TO

SEPTEMBE

R

3 Sources of

Finance :

Cost of

capital

Short term and Long term (Lease financing

excluded).

concept; relevance; special cost and weighted average

cost; marginal cost of capital.

05

10

TOTAL NO. OF CLASSES

35

4 Leverage and

Capital

Structure

Theories

Capital structure : concept of Capital Gearing; Capital

Structure Decisions, Capital Structure Pattern,

Designing Optimum Capital Structure, and

Constraints.

Leverage : concept and significance; Business and Financial Risk; Operating and Financial Leverage;

Trading on Equity; (10 Lectures)

FROM 1ST

OCTOBER

TO 9TH

OCTOBER

AND

FROM 6TH

NOVEMBE

R

TO

24TH

DECEMBE

R

15

5 Working

Capital

Management

Concept, Significance and Components of Working

Capital, Working Capital Cycles.

Factors on Requirements and Forecasting of Working

Capital.

15


30

6 Capital

Budgeting

Nature, scope and significance of Capital Budgeting.

Evaluation : Traditional and Modern Approach.

Application of Capital Budgeting Techniques; all

techniques at elementary level.

Ranking Competing projects with unequal lives.

JANUARY

TO

MARCH

18

7 Dividend

Decisions

Meaning, nature and types of dividend.

Some dividend policies and formulating a dividend

policy.

Dividend Theories : Walter’s model, Gordon’s

Model, Modigliani and Miller’s Model.

(

1

12

8 Financial

Control

Concept, objectives and steps, Major Tools of

Financial Control; Advantages and Limitations of financial control system.

06


36




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