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Accountant in Business
To introduce knowledge and understanding of the business and its environment and the influence this has on how organisations are structured and on the role of the accounting and other key business functions in contributing to the efficient, effective and ethical management and development of an organisation and its people and systems.
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AAF 111 |
Accountant in Business |
Upon successful completion of this course, the student will be able to:
CO 1: Formulate knowledge about the purpose and types of business, and their interactions with stakeholders and the external environment. CO 2: Develop a basic understanding of the types of business organization structure, functions, and the role of corporate governance. CO 3: Invent about the relation of the function of accountancy and audit. CO 4: Analyze the impact of leadership, motivation, and team management to attain organizational efficiency CO 5: Explain the integration of technology in the various business functions.
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Approach in teaching: Interactive Lectures, Discussion, PPT, Sharing web links
Learning activities for the students: Self-learning assignments, Role plays, presentation, case study discussions. |
Class test, Semester end examinations, Quiz, Assignments, Presentation, Individual and group projects |
The business organisation, its stakeholders and the external environment:
Business organization: Meaning, Features, Types;
Stakeholders in business organisations: Types of Stakeholders, Agency Relationship, Power & Influence of various stakeholder groups ;
Political and legal factors affecting business: Effect of political system & Government Policy on Organizations, Legal Provisions for protection of employees, Principles of consumer protection;
Macroeconomic factors: Objectives of macroeconomic policy, impact of economic issues on the individual, the household and the business; impact of fiscal and monetary policy measures on the individual, the household and businesses;
Micro economic factors: Concept of Demand and Supply, Elasticity of Demand, Types of Markets;
Social and demographic factors: Medium & Long Term effects on the business & economy;
Technological factors: Downsizing, Delayering and Outsourcing;
Environmental factors: Types & impact on business, benefits to stakeholders;
Competitive factors: SWOT analysis, Porter’s Value Chain Model, Porter’s five forces model
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Business organizational structure, functions and governance The formal and informal business organization: Meaning and interrelationship. Business organizational structure and design: Concept and types. Advantages and disadvantages of Centralization and Decentralization Organisational culture in business: Meaning and factors affecting organization culture. Committees in business organisations: Purpose, types and advantages & Disadvantages. Governance and social responsibility in business: agencyconcept, corporate governance and social responsibility |
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Accounting and reporting systems, controls and compliance, technology and security
The relationship between accounting and other business functions, Accounting and finance functions within business organisations, Principles of law and regulation governing accounting and auditing,
The sources and purpose of internal and external financialinformation, provided by business, Financial systems, procedures and related IT applications, Internal controls, authorisation, security of data and compliance within business, Fraud and fraudulent behaviour and their prevention in business, including money laundering.
Leading and managing individuals and teams
Leadership, management and supervision: meaning and distinction, schools of management thought, authority & responsibility. Recruitment and selection of employees,
Individual and group behavior in business organisations, Team formation, development and management, Motivating individuals and groups, Learning and training at work, Review and appraisal of individual performance, The application and impact of Financial Technology (FinTech) in accountancy and audit.
Personal effectiveness and communication
Personal effectiveness techniques; Consequences of ineffectiveness at work; Competence frameworks and personal development; Sources of conflicts and techniques for conflict resolution and referral; Communicating in business.
Professional ethics in accounting and business: Fundamental principles of ethical behavior; The role of regulatory and professional bodies in promoting ethical and professional standards in the accountancy profession; Corporate codes of ethics; Ethical conflicts and dilemmas.
• Study material of ACCA – F1
• Gupta, C. B., Business Organization, S.Chand, NewDelhi
• Weihrich, Heinz and Koontz, Harold, Essentials of Management, McGraw Hill, New York Mathew, M.J., Business Organization, RBSA Publishers, Jaipur
• Drucker, Peter Ferdinand, Management Challenges for 21st Century, Harper Collins, USA. Luthans, Fred, Organization Behaviour, McGraw Hill, New York
• Allen, Louis A., Management and Organization, McGraw Hill, New York Ansoff, H., The New Corporate Strategy, Wiley.
• Hampton, David R., Modern Management, McGraw-Hill
