FINANCIAL REPORTING I

Paper Code: 
BCP 411
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

Course Outcomes (COs):

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

  
 

CO 110:Prepare and present Financial Statements in accordance with Indian Accounting Standards

CO 111:Integrate and solve problems in practical scenarios on Indian Accounting Standards for deciding the appropriate accounting treatment and formulating suitable accounting policies as per IND AS 115,8,10,113,1,34

CO 112:Recognize and apply disclosure requirements specified in Indian Accounting Standards while preparing and presenting the financial statements

CO 113:Prepare financial statements of group entities which includes subsidiaries, associates and joint arrangements based on Indian Accounting Standards

CO 114:Prepare financial statements keeping in view Items impacting the Financial Statements

CO 115:Assess Liabilities of the Financial Statements including Industry specific Ind AS

Interactive Lectures, Discussion, Tutorials, Reading assignments. 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: 

·Introduction to General Purpose Financial Statements as per Indian Accounting Standard (Ind AS) Statutory provisions: Applicability criteria Division II of Schedule III to the Companies Act, 2013 and Guidance Note thereupon

  • Conceptual Framework for Financial Reporting under Indian Accounting Standards (Ind AS)
  • Ind AS 34 “Interim Financial Reporting”
  • Ind AS 7 “Statement of Cash Flows”

 

20.00
Unit II: 
  • Ind AS 8 “Accounting Policies, Changes in Accounting Estimates and Errors”
  • Ind AS 10 “Events after the Reporting Period”
  • Ind AS 2 “Inventories”
  • Ind AS 16 “Property, Plant and Equipment”
  • Ind AS 23 “Borrowing Costs”
  • Ind AS 36 “Impairment of Assets”
  • Ind AS 38 “Intangible Assets”
  • Ind AS 105 “Non-current Assets Held for Sale and Discontinued Operations”

 

20.00
Unit III: 
  • Ind AS 19 “Employee Benefits”
  • Ind AS 37 “Provisions, Contingent Liabilities and Contingent Assets”
  • Ind AS 21 “The Effects of Changes in Foreign Exchange Rates”
  • Ind AS 24 “Related Party Disclosures”
  • Ind AS 33 “Earnings per Share”
  • Ind AS 108 “Operating Segments”
  • Ind AS 20 “Accounting for Government Grants and Disclosure of Government Assistance”

 

14.00
Unit IV: 

Business Combinations (Ind AS 103)

 

18.00
Unit V: 

Consolidated and Separate Financial Statements (it includes Ind AS 110, Ind AS 111, Ind AS 27, Ind AS 28, Ind AS 112)

 

Essential Readings: 

ESSENTIAL READINGS: 

  • Study Material Published by Institute of Chartered Accountants of India

 

SUGGESTED READINGS:

  • Scanner-Arun Kumar (Suchitra Prakashan (P) Ltd)
  • M.P. VIJAYAKUMAR; Financial Reporting
  • SekarG; Financial Reporting (C Sitaraman Pvt Ltd)
  • Praveen Sharam; Financial Reporting (Smart Teach Ltd)

 

References: 

E-RESOURCES:

 

JOURNALS:

  • The Chartered Accountant Journal /ICAI Student Journal

 

Academic Year: 
2023-2024
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