Financial Reporting-I

Paper Code: 
BCP-511
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

Course Objectives:

  •  To acquire the ability to integrate and solve problems in practical scenarios                       on Indian Accounting Standards for deciding the appropriate accounting treatment and formulating                   suitable accounting policies.
  •  To gain the prowess to recognize and apply disclosure requirements specified in Indian Accounting Standards                                  while preparing and presenting the financial statements.
  •  To develop the skill to prepare financial statements of group entities which includes subsidiaries, associates                                     and joint arrangements based on Indian Accounting Standards.
  • To develop an understanding of the various forms of reporting (other than financial statements) and                                                 accounting for special transactions, and apply such knowledge in problem solving.

 

Course Outcomes (COs):

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

BCP-511

Financial Reporting I
  • CO 155 To develop an understanding of the Framework for preparation and presentation of Financial Statements in accordance with Indian Accounting Standards
  • CO 156 To acquire the ability to integrate and solve problems in practical scenarios on Indian Accounting Standards for deciding the appropriate accounting treatment and formulating suitable accounting policies
  • CO 157 To gain the prowess to recognize and apply disclosure requirements specified in Indian Accounting Standards while preparing and presenting the financial statements
  • CO 158 To develop the skill to prepare financial statements of group entities which includes subsidiaries, associates and joint arrangements based on Indian Accounting Standards
  • CO 159 To develop an understanding of the various forms of reporting (other than financial statements) and accounting for special transactions, and apply such knowledge in problem solving

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, Reading assignments

 

Learning activities for the students:

Self learning assignments, Effective questions, Seminar presentation,

 

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

 

18.00
Unit I: 
-
  • Framework for Preparation and Presentation of Financial Statements in accordance with Indian Accounting Standards (Ind AS)
  • Application of Indian Accounting Standards (Ind AS) with reference to General Purpose Financial Statements
  • Ind AS on First time adoption of Indian Accounting Standards (IND AS 101)

 

18.00
Unit II: 
-
  • Ind AS on Presentation of Items in the Financial Statements (IND AS 1,34,7)
  • Ind AS on Measurement based on Accounting Policies (IND AS 8,10,113)
  • Ind AS on Income Statement (IND AS 115)

 

18.00
Unit III: 
-
  • Ind AS on Assets of the Financial Statements (IND AS 2,16,116,23,36,38,,40,105)

 

18.00
Unit IV: 
-
  • Ind AS on Liabilities of the Financial Statements including Industry specific Ind AS (IND AS 19,37,41)
  • Ind AS on Items impacting the Financial Statements (IND AS 12,21)

 

18.00
Unit V: 
-
  • Ind AS on Disclosures in the Financial Statements (IND AS 24,33,108)
  • Other Ind AS (IND AS 20,102)

 

References: 
  • Financial Reporting- M.P. VIJAYAKUMAR
  • Financial Reporting: SekarG(C Sitaraman Co Pvt Ltd)
  • Financial Reporting: Praveen Sharam (Smart Teach Ltd)
  • Study Material Published by ICAI
  • Scanner-Arun Kumar (Suchitra Prakashan (P) Ltd)

 

Academic Year: 
2020-2021
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