Accounting

Paper Code: 
BCP-211
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

Course Objectives:

  • To acquire the ability to apply specific accounting standards and legislations to different transactions and events and in preparation and presentation of financial statements of various business entities.

Course Outcomes (COs):

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

BCP-211

 Accounting

Upon successful completion, students will have the knowledge and skills to:

  • CO 43 An understanding of the regulatory environment in which the companies are formed and operate.
  • CO 44 A comprehensive understanding of the advanced issues in accounting for assets, liabilities and owner’s equity.
  • CO 45 Account for a range of advanced financial accounting issues.
  • CO 46 Develop an understanding of the accounting requirements for a corporate group and familiarity with the theory underlying the methods used to account for inter-company investments.
  • CO 47 To prepare consolidated accounts for a corporate group.
  • CO 48 Have an understanding of the principles of accounting for investments in associates.
  • CO 49 Analyze complex issues, to formulate well reasoned and coherent arguments and to reach well considered conclusions.

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, assignments.

 

Learning activities for the students:

Self learning assignments, Effective questions,  Giving tasks, Solving numerical problems

 

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments,  Individual projects

 

18.00
Unit I: 
-
  •         Process of formulation of Accounting Standards including Ind ASs (IFRS converged standards) and IFRSs; convergence v/s adoption; Course Objectives:  and concepts of carve outs.
  •          Framework for Preparation and Presentation of Financial Statements (as per AS).
  •          Applications of Accounting Standards:
  •         AS 1: Disclosure of Accounting Policies
  •          AS 2: Valuation of Inventories
  • ·        AS 3: Cash Flow Statements
  • AS 10: Property, Plant and Equipment
18.00
Unit II: 
-
  • Applications of Accounting Standards:
  • AS 11: The Effects of Changes in Foreign Exchange Rates
  • AS 12: Accounting for Government Grants
  • AS 13: Accounting for Investments
  • AS 16: Borrowing Costs
  • Company Accounts: Preparation of financial statements – Statement of Profit and Loss, Balance Sheet and Cash Flow Statement;

 

18.00
Unit III: 
-
  • Company Accounts: Managerial Remuneration; Profit (Loss) prior to incorporation; Accounting for bonus issue and right issue; Redemption of preference shares; Redemption of debentures.

 

16.00
Unit IV: 
-
  • Accounting for Special Transactions: Investment; Insurance claims for loss of stock and loss of profit; Hire- purchase and Instalment sale transactions.

 

20.00
Unit V: 
-

• Special Type of Accounting: Departmental Accounting; Accounting for Branches including foreign branches; Accounts from Incomplete Records

References: 

• Modern Accountancy-AMukharjee, MHanif. (Tata Mc- Graw-Hill)
• Study Material Published by Institute of Chartered Accountants of India
• Accountancy- PC Tulsian (Tata Mc- Graw-Hill)
• Scanner-Arun Kumar(Suchitra Prakashan (P) Ltd)
• Scanner-Arun Kumar(Suchitra Prakashan (P) Ltd)

Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless. If either a new Accounting Standards (AS), Announcements and Limited Revisions to AS are issued or the earlier one are withdrawn or new AS, Announcements and Limited Revisions to AS are issued in place of existing AS, Announcements and Limited Revisions to AS, the syllabus will accordingly include / exclude such new developments in the place of the existing ones with effect from the date to be notified by the IIS (deemed to be) University

Academic Year: 
2020-2021
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