Financial Reporting II

Paper Code: 
24BCP511
Credits: 
06
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

This course will enable the students to acquire the ability to integrate and solve problems in practical scenarios on Indian Accounting Standards (Ind AS) for deciding the appropriate accounting treatment and formulating suitable accounting policies and gain the prowess to recognize and apply disclosure requirements specified in Indian Accounting Standards (Ind AS) while preparing and presenting the financial statements.

 

Course Outcomes: 

Course

Learning outcome

(at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course

Title

24BCP511

Financial Reporting II (Theory)

 

CO 1Prepare and present and analyze Financial Statements in accordance with Indian Accounting Standards and analyze Ind AS 113 and IndAS 115.

CO 2Examine Ind AS 116, Ind AS 40 and Ind AS 12 related to leases, Investment property and Taxes.

CO 3Classify and measure financial assets and liabilities and develop and understanding of share-based payments and financial instruments.

CO 4Develop an understanding of Derivatives, embedded derivatives, hedge accounting disclosures, and Recognition and de recognition of Financial Instruments (as per IndAS).

CO 5Identify and explain the key ethical issues and Analyze financial statements as per Ind AS.

CO 6Contribute effectively in course specific interaction.

Approach in teaching:

Interactive Lectures, Discussions, Tutorials, Problem solving sessions, Presentations

 

Learning activities for the students:
Self-learning assignments, Case Study Analysis, Presentations, Group Discussions

 

Continuous Assessment Test, Semester End Examinations, Quiz, Solving Numerical Problems, Assignments, Class Presentations, Individual and group projects.

 

18.00
Unit I: 
Ind AS I
  • Ind AS 1 “Presentation of Financial Statements”
  • Ind AS 113 “Fair Value Measurement”
  • Ind AS 115* “Revenue from Contracts with the Customers”

 

18.00
Unit II: 
Ind AS II
  • Ind AS 116* “Leases”
  • Ind AS 40 “Investment Property”
  • Ind AS 12* “Income Taxes”

 

18.00
Unit III: 
Financial Instruments I
  • Ind AS 102 “Share Based Payment”
  • Ind AS 41 “Agriculture”
  • First-time adoption of Indian Accounting Standards (Ind AS 101)
  • Financial Instruments: Scope and Definitions
  • Classification and Measurement of Financial Assets and Financial Liabilities

 

18.00
Unit IV: 
Financial Instruments II
  • Financial Instruments: Equity and Financial Liabilities
  • Derivatives and Embedded Derivatives
  • Recognition and De recognition of Financial Instruments
  • Hedge Accounting
  • Disclosures

 

18.00
Unit V: 
Ethics and Technology in Accounting
  • Analysis of financial statements (as per Ind AS)
  • Ethics with Accounting Concepts: Identify and explain the key ethical issues
  • Technology and Accounting: Evolution of Accounting in the technological environment

 

Essential Readings: 
  • Study Material Published by Institute of Chartered Accountants of India

 

References: 

SUGGESTED READINGS:

  • Scanner-Arun Kumar (Suchitra Prakashan (P) Ltd)
  • Financial reporting- M.P. VIJAYAKUMAR
  • Financial Reporting: Sekar G(C Sitaraman Co Pvt Ltd)
  • Financial Reporting: Praveen Sharam (Smart Teach Ltd)

 

E-RESOURCES:

 

JOURNALS:

  • The Chartered Accountant Journal /ICAI Student Journal

 

 

 

Academic Year: 
2024-2025
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