VI Sem Bcom Syllabus.....GFGC GBD 30th May 2022
6.1 BUSINESS REGULATIONS
OBJECTIVE:
To introduce the students to various Business
Regulations and familiarize them with common issues of relevance.
UNIT 1: INTRODUCTION TO BUSINESS LAWS 06
Hrs
Introduction, Nature of Law, Meaning and Definition of Business
Laws, Scope and Sources of Business
Laws.
UNIT 2: CONTRACT LAWS 18Hrs
Indian Contract Act, 1872: Definition of Contract, essentials of a
valid contract, classification of contracts, remedies
for breach of contract.
Indian Sale of Goods Act, 1930: Definition of contract of sale, essentials of contract of sale, conditions and warrantees, rights and duties of buyer, rights of an unpaid seller.
UNIT 3: COMPETITION AND CONSUMER LAWS: 14
Hrs
The Competition Act, 2002: Objectives of Competition Act, Features of Competition Act, CAT,
offences and penalties under the Act, Competition Commission of India.
Consumer Protection Act, 1986: Definition of the terms consumer, consumer
dispute, defect, deficiency, unfair trade practices and
services. Rights of the consumer under the Act, Consumer Redressal Agencies – District Forum, State Commission, National Commission.
UNIT 4: ECONOMIC LAWS 12
Hrs
Indian Patent Laws and WTO Patent Rules: Meaning of IPR, invention
and non-invention, procedure to get patent, restoration and
surrender of lapsed patent,
infringement of patent,
FEMA 1999: Objects of FEMA, salient features of FEMA, definition of
important terms: authorized person, currency, foreign currency, foreign
exchange, foreign security, offences and penalties.
UNIT 5: ENVIRONMENTAL LAW 06
Hrs
Environment Protection Act, 1986: Objects of the Act, definitions of
important terms: environment, environment
pollutant, environment pollution, hazardous substance and occupier, types of
pollution, rules and powers of central government to protect environment in India.
SKILL DEVELOPMENT
·
Prepare a chart showing sources of business
law and Indian Constitution Articles
having economic significance.
·
Draft an agreement
on behalf of an MNC to purchase raw materials
indicating therein terms and conditions
and all the essentials of a valid
contract.
·
Draft an application to the Chief Information Officer of any government office seeking information about government spending.
·
Draft digital signature
certificate.
·
Draft a complaint
to District Consumer
Forum on the deficiency of service in a reputed corporate hospital
for medical negligence.
·
Collect leading cyber-crimes cases and form groups in the class room and conduct
group discussion.
·
Draft a constructive and innovative suggestions note on global
warming reduction.
BOOKS FOR REFERENCE:
1. K. Aswathappa, Business Laws, HPH,
2. Bulchandni, Business
Laws, HPH.
3. K. Venkataramana, Business Regulations, SHBP.
4. Kamakshi P & Srikumari
P – Business Regulations, VBH.
5. N.D. Kapoor,
Business Laws, Sultan
chand publications.
6. S.S Gulshan
– Business Law
7. S.C. Sharma:
Business Law I.K. International Publishers
8.
Tulsion Business Law, TMH.
6.2 PRINCIPLES AND PRACTICE
OF AUDITING
OBJECTIVE:
This subject aims at imparting knowledge about the
principles and methods of auditing and their
applications.
Unit 1: INTRODUCTION TO AUDITING 12
Hrs
Introduction – Meaning - Definition – Objectives –
Differences between Accountancy and Auditing –
Types of Audit - Advantages of Auditing – Preparation before
commencement of new Audit – Audit Notebook – Audit Working
Papers – Audit Program, Recent Trends in Auditing: Nature & Significance of Tax Audit – Cost Audit - Management Audit.
Unit 2: INTERNAL CONTROL 10
Hrs
Internal Control: Meaning
and objectives. Internal
Check: Meaning, objectives and fundamental principles. Internal Check as regards:
Wage Payments, Cash Sales, Cash Purchases. Internal Audit: Meaning - Advantages and Disadvantages of
Internal Audit – Differences between Internal Check and Internal Audit.
Unit 3: VOUCHING 12
Hrs
Meaning - Definition – Importance – Routine Checking
and Vouching – Voucher -Types of Vouchers
–
Vouching of Receipts: Cash Sales, Receipts
from debtors, Proceeds
of the sale of Investments. Vouching of Payments: Cash Purchases, Payment
to Creditors, Deferred
Revenue Expenditure.
Unit 4: VERIFICATION AND VALUATION OF ASSETS AND LIABILITIES 12
Hrs
Meaning and Objectives of verification and valuation– Position
of an Auditor as regards
the Valuation of Assets –
Verification and Valuation of different Items: Assets: Land & Building,
Plant & Machinery, Goodwill –
Investments - Stock in Trade. Liabilities: Bills
Payable - Sundry Creditors – Contingent
Liabilities.
Unit 5: AUDIT OF LIMITED COMPANIES AND OTHERS 10
Hrs
Company Auditor – Appointment – Qualification - Powers -
Duties and Liabilities – Professional Ethics
of an Auditor. Audit of Educational Institutions – Audit of Insurance
Companies- Audit of Co- operative societies.
SKILL DEVELOPMENT:
·
Collect the information about types of audit
conducted in any one Organization
·
Visit an audit firm, write about the procedure
followed by them in Auditing
the books of accounts of a firm.
·
Draft an investigation report
on behalf of a Public
Limited Company
·
Record the verification procedure with respect to any one fixed asset.
·
Draft an audit program.
BOOKS FOR REFERENCE:
1.
P N Reddy & Appannaiah, Auditing, HPH
2.
TR Sharma, Auditing, Sahitya Bhavan
3.
BN Tandon, Practical Auditing, Sultan Chand
4.
Dr. Nanje Gowda,
Principles of Auditing, VBH
5.
Dr. Alice Mani: Principles
& Practices of Auditing, SBH.
6.
K. Venkataramana,
Principles And Practice
Of Auditing, SHBP.
7.
MS Ramaswamy, Principles and Practice of Auditing.
8.
Dinakar Pagare, Practice
of Auditing, Sultan
Chand
9.
Kamal Gupta, Practical
Auditing, TMH
10. R.G Sexena
- Principles and Practice of Auditing, HPH
6.3 INCOME TAX - II
OBJECTIVE
The Objective of this subject
is to make the students
to understand the computation of Taxable Income
and Tax Liability of
individuals.
Unit 1: PROFITS
AND GAINS FROM BUSINESS OR PROFESSION 16
Hrs
Meaning and Definition of Business, Profession – Vocation - Expenses Expressly
Allowed – Allowable
Losses – Expenses
Expressly Disallowed – Expenses Allowed
on Payment Basis - Problems on Business relating to Sole
Trader and Problems on Profession relating to Chartered Accountant, Advocate and Medical Practitioner.
Unit 2: CAPITAL GAINS 16
Hrs
Basis of Charge – Capital Assets – Transfer of Capital
Assets – Computation of Capital Gains – Exemptions U/S 54,
54B, 54D, 54EC, 54F– Problems on Capital Gains.
Unit 3: INCOME FROM OTHER SOURCES 10
Hrs
Incomes – Taxable under the head Other Sources – Securities
– Kinds of Securities – Rules for Grossing
Up – Ex-Interest Securities –
Cum-Interest Securities – Bond Washing Transactions – Problems on Income
from Other Sources.
Unit 4: DEDUCTIONS FROM GROSS TOTAL
INCOME 06
Hrs
Deductions u/s: 80 C, 80
CCC, 80 CCD, 80 D, 80 G, 80
GG, 80 GGA, and 80 U. (80 G & 80
GG
together should not be given in one problem)
Unit 5: SET-OFF
&
CARRY
FORWARD
OF LOSSES AND ASSESSMENT OF INDIVIDUALS 08Hrs
Meaning –Provision for Set-off & Carry forward of losses (Theory only).
Computation of Total Income and Tax Liability of an
Individual Assessee (Problems– in case of income from salary & house
property- computed income may be
given).
SKILL DEVELOPMENT
·
Table of rates of Tax deducted at source.
·
Filing of IT returns of individuals.
·
List of Enclosures for IT
returns.
BOOKS FOR REFERENCE
1.
Dr. Vinod K. Singhania: Direct Taxes – Law and Practice, Taxmann publication.
2.
B.B. Lal: Direct Taxes, Konark
Publisher (P) ltd.
3.
Dinakar Pagare: Law and Practice of Income Tax, Sultan
Chand and sons.
4.
Gaur & Narang: Income Tax, Kalyani
5.
B.B. Lal: Income Tax, Central Sales Tax Law & Practice,
Konark Publisher (P) Ltd.
6.
Singhania: Income Tax
7.
Dr. H.C Mehrothra : Income Tax, Sahitya Bhavan
8.
7 Lecturer Income Tax – VBH
6.4 MANAGEMENT ACCOUNTING
OBJECTIVE
The objective of this subject is to enable the students to
understand the analysis and interpretation of
financial statements with a
view to prepare management reports
for decision-making.
UNIT 1: INTRODUCTION TO MANAGEMENT ACCOUNTING 12
Hrs
Management Accounting: Meaning
– Definition – Objectives – Nature and Scope– Role of Management Accountant – Relationship
between Financial Accounting and Management Accounting, Relationship between
Cost Accounting and Management Accounting.
Analysis of Financial Statements: Types of Analysis – Methods of
Financial Analysis – Problems on Comparative Statement analysis – Common Size Statement analysis and Trend
Analysis.
UNIT2: RATIO ANALYSIS 14
Hrs
Meaning and Definition of Ratio, Classification of Ratios, Uses
& Limitations – Meaning and types of Ratio Analysis – Calculation of Liquidity ratios,
Profitability ratios and Solvency ratios.
UNIT 3: FUND FLOW ANALYSIS 10
Hrs
Meaning and Concept of Fund
– Meaning and Definition of Fund Flow Statement – Uses and Limitations
of Fund Flow Statement – Differences between Cash Flow Statement and Fund Flow Statement - Procedure for preparation of
Fund Flow Statement – Statement of changes in Working Capital – Statement of Funds from Operations – Statement of
Sources and Applications of Funds – Problems.
UNIT 4: CASH FLOW ANALYSIS 14
Hrs
Meaning and Definition of Cash Flow Statement – Concept of Cash and
Cash Equivalents - Uses of Cash Flow
Statement – Limitations of Cash Flow Statement – Provisions of Ind AS-7 (old AS
3) – Procedure for preparation of
Cash Flow Statement – Cash Flow from Operating Activities – Cash Flow from Investing Activities and Cash
Flow from Financing Activities – Preparation of Cash Flow Statement according to Ind AS-7 (old AS
3) (Indirect Method Only).
UNIT 5: MANAGEMENT REPORTING 06
Hrs
Meaning of Management Reporting – Requisites of a Good Reporting
System – Principles of Good Reporting System
– Kinds of Reports – Drafting of Reports under different Situations.
SKILL DEVELOPMENT
·
Collection of financial statements
of any one organization for two years and preparing
comparative statements
·
Collection of financial statements of any two organization for two years and prepare
a common Size Statements
·
Collect statements of an Organization and Calculate Important Accounting Ratio’s
·
Draft a report
on any crisis in an organization.
BOOKS FOR REFERENCE
1.
Dr. S.N. Maheswari
, Management Accounting
2.
Sexana, Management
Accounting
3.
SudhindraBhat- Management Accounting
4.
Dr. S.N. Goyal and Manmohan, Management Accounting
5.
B.S. Raman, Management Accounting
6.
Sharma and Gupta,
Management Accounting
7.
M Muniraju& K Ramachandra, Management Accounting
8.
PN Reddy &Appanaiah, Essentials of Management Accounting.
9.
J.Made Gowda - Management Accounting
ELECTIVE GROUPS
AC 6.5 BUSINESS TAXATION
OBJECTIVE
The objective is to enable the students to understand
assessment of Firms and Companies with regard
to Income tax act, 1961and to study the other existing Indirect tax
provisions on goods not covered under GST.
Unit 1: CUSTOMS ACT 10
Hrs
Meaning – Types of Custom Duties – Valuation for Customs
Duty – Tariff Value – Customs Value – Methods of Valuation for Customs – Problems on Custom Duty.
Unit 2:
SALES TAX / CENTRAL SALES TAX (on goods and services
not covered under
GST)
12 Hrs Meaning and Definition – Features of Sales tax / CST – Levy and
Collection of duties not covered under
GST– Tax Administration – Taxable value of goods and services not covered under
GST – Determination of Tax
Liability (Simple Problems).
Unit 3: ASSESSMENT OF FIRMS 14
Hrs
Meaning of Partnership, Firm and Partners – New Scheme
of Taxation of Firms – Assessment of Firms
(Section 184) – Computation of Firm’s Business Income – Treatment of Interest,
Commission, Remuneration received
by partners. Problems
on Computation of Firms total income
and tax liability.
Unit 4: ASSESSMENT OF COMPANIES 20
Hrs
Introduction – Meaning of Company – Types of Companies –
Computation of Depreciation u/s 32 – Computation
of Taxable Income of Companies – Minimum Alternative Tax (MAT) – Deductions u/s 80G, 80GGB,
80IA, 80 IB and Problems on Computation of Tax Liability.
SKILL DEVELOPMENT
·
Collect financial statement of a firm and compute the taxable income
·
Narrate the procedure for calculation of book profits.
·
Narrate the Procedure of calculation of tax liability
·
Prepare the challan for payment of tax under existing
laws on goods not covered under GST.
BOOKS FOR REFERENCE
1.
Vinod K Singhania – “Direct Taxes - Law and Practice”, Taxmann Publications
2.
H C Mehrotra
and Goyal, “Direct Taxes”,
Sahitya Bhavan Publications
3.
Gaur and Narang
; Direct Taxes, Kalyani Publishers
4.
Rajiva S. Mishra –Direct & Indirect Tax
5.
Santhil & Santhil
: Business taxation.
6.
S. Bhat – Taxation Management.
7.
Singhania : Income Tax
8.
V.S.Datey: Indirect Taxes –
Law and Practice.
9.
R. G. Saha, Usha Devi & Others – Taxation
– HPH
10.
7 Lecturers Business
Taxation – II, VBH
AC 6.6 COST MANAGEMENT
OBJECTIVE
The objective is to enable the students to understand
techniques used to control as well as reduce the cost.
UNIT 1: COST CONTROL AND COST REDUCTION: 08
Hrs
Meaning of cost control and cost reduction, areas covered by cost
control and cost reduction – product design,
target costing, value analysis, value engineering, value chain analysis,
Business Process Re- Engineering (theory
only).
Unit 2: MARGINAL
COSTING 12
Hrs
Absorption costing, cost classification under absorption
costing, Meaning and Definition of marginal costing
– Absorption Costing V/s Marginal Costing - Need for Marginal Costing,
arguments against and in favor of marginal costing – marginal cost equation – Uses and Limitations of Marginal Costing
- Break even analysis - Problems on Break Even Analyses.
Unit 3: STANDARD COSTING 12
Hrs
Historical costing - Introduction – Meaning &
Definition of Standard Cost and Standard Costing - Advantages & Disadvantages of Standard Costing
–preliminaries in establishing system of standard costing – Variance
Analysis – Material
Variance, Labour Variance
and Overheads Variance
– Problems on Material Variances and Labor Variances.
Unit 4: BUDGETARY CONTROL 12
Hrs
Introduction – Meaning & Definition of Budget and
Budgetary Control – Objectives of Budgetary Control
– essential requirements of budgetary control – advantages and disadvantages of
budgetary control – Meaning, Types of
Functional Budgets - Flexible Budgets, Cash Budgets, sales budget and production budget. Problems on
Flexible budgets and cash budgets.
UNIT5: ACTIVITY BASED COSTING 12
Hrs
Introduction - Weakness
of conventional system – concept of ABC – Kaplan and Cooper’s
Approach
– cost drivers and cost pools – allocation of overheads under ABC – Characteristics of ABC – Steps in the implementation of ABC – Benefits
from adaptation of ABC system – difficulties faced by the industries in the successful implementation of ABC - Problems
on ABC.
SKILL DEVELOPMENT
·
Preparation of Income Statement using Absorption Costing and Marginal Costing
Technique
·
Illustrate make or buying
decisions helps in decision making.
·
Preparation of Sales Budget with Imaginary Figures
·
List any 10 industries where Standard Costing is used.
BOOKS FOR REFERENCE
1.
S P Iyengar,
Cost Accounting.
2.
B.S. Raman, Cost Accounting.
3.
K.S. Thakur: Cost Accounting.
4.
M.N. Arora, Cost Accounting.
5.
N. Prasad, Costing.
6.
Palaniappan&Hariharan : Cost Accounting
7.
Jain &Narang, Cost Accounting.
8.
Gouri Shankar; Practical
Costing.
9.
IM Pandey :Management Accounting
10.
CA & ICWA Bulletins.
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