Business Accounting

Teacher

Dr. Pramod Kumar Patjoshi

Category

Core Courses

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Course Name : Business Accounting

 

 

Code(Credit) : CUTM1213(4-0-2)

Course Objectives

  • To familiarise with the basic conceptual framework of Financial Accounting i.e., from the recording of transactions for Understanding and Interpreting of Financial Statements.
  • To provide the knowledge to the students about financial statements and principles underlying them and to develop their skills in reading Annual Reports.
  • To provide a thorough understanding and techniques of financial statements analysis.

Learning Outcomes

  • Develop an awareness and understanding of the accounting process and fundamental accounting principles that underpin the development of financial statements (e.g. accrual accounting vs. cash accounting, definition, recognition, measurement and disclosure of assets, liabilities, revenues, expenses; inventory valuation methods and methods of depreciation).
  • Understand and interpret the nature and role of the principal financial statements (i.e., the Income Statement, the Statement of Financial Position, and the Statement of Cash Flows).
  • Read, interpret and analyze financial statements; combine financial analysis with other information to assess the financial performance and position of a company;

Course Syllabus

Module: I

Introduction to Financial Accounting. Accounting as an Information System. Importance, Scope, and Limitations. Users of Accounting Information. Generally Accepted Accounting Principles. The Accounting Equation. Nature of Accounts and Rules of Debit and Credit. Recording Transactions in General Journal. Recording Transactions in three column Cash Book. An overview of Subsidiary books – Purchase Book, Purchase Returns Book, Sales Book, and Sales Returns Book. Opening and Closing Entries. Preparation of Ledger Accounts.

Module: II

Introduction to International Financial Reporting Standards (IFRS). Understanding Accounting Standards issued by the ICAI related to Disclosure of Accounting Policies, Depreciation Accounting, and Revenue Recognition. Methods of charging Depreciation  Straight-line Method, and Written-down-value Method. Preparation of Trial Balance. Adjustment Entries. Post-adjusted Trial Balance. Bank Reconciliation Statement.

Module: III

Preparation of Financial Statements: Preparing Trading Account, Profit & Loss Account and Balance Sheet for a Sole Proprietor. Understanding contents of Financial Statements of a Joint Stock Company as per Companies Act 2013. Understanding the contents of a Corporate Annual Report. Preparation of Cash Flow Statement as per AS-3 (revised).

Module: IV

Analyzing Financial Statements: Objectives of Financial Statement Analysis; Sources of Information; Standards of Comparison; Techniques of Financial Statement Analysis - Horizontal Analysis, Vertical Analysis, and Ratio Analysis. Meaning and Usefulness of Financial Ratios; Analysis of Financial Ratios from the perspective of different Stakeholders like Investors, Lenders, and Short-term Creditors; Profitability Ratios, Solvency Ratios, Liquidity Ratios, and Turnover Ratios; Limitations of Ratio Analysis.

Project Details:

  • Project on Preparation of Financial Statement of a Small Business.
  • Project on Financial Statements of a company - From Annual Report like TCS, TVS Motor, Tata Steel, RIL, etc.
  • Project on study of Financial Statement Analysis through excel of different Companies like TCS, TVS Motor, Tata Steel, RIL, etc.
  • Project on Analysis of Budgetary Control Small Business

Text Books:

  • N. Maheshwari, Suneel K. Maheshwari, and Sharad K. Maheshwari: An
  • Narayanaswamy, Financial Accounting: A Managerial Perspective, PHI

.Journals:

  • Indian Accounting Review
  • Indian Journal of Accounting

Links to websites:

Session Plan

Session 1

Discussion of Course Contents and Session Plan

https://www.youtube.com/watch?v=cT1KOvJ-izA

Session 2

Session 3

Links of accounting with every aspect of the business - Accounting with Management, Economics, IT, Statistics, HR, Marketing and Production , Cash-based vs Accrual based accounting.

https://www.iedunote.com/accounting-relation-other-discipline

https://www.slideshare.net/spranyoto/finon-accrual-vs-cash-basis-accounting

https://www.youtube.com/watch?v=GEZZftO_VrE

Session 4

Accounting Cycle, Basic Accounting Terms, Accounting Year, Financial Year, Basic Accounting Terms.

https://www.slideshare.net/kulbeerbumrah/accounting-cycle-32450694

https://www.youtube.com/watch?v=WE6NZgwRMrY

Session 5, 6

Assignment for the students to list out 30 Assets, 15 Liabilities, 50 Expenses & Losses, and 15 Income & Gain.

Students' Presentation

Session 7

Accounting as an Information System, Users of Accounting information (specifically the difference in financial information required by the Board, CXO levels, field-level staff, stock exchanges, auditors and regulators, etc.

https://www.slideshare.net/Pulkitbordia/users-of-accounting-information-28518042

https://www.youtube.com/watch?v=O6clb2SEOTc

Session 10

Project on Preparation of Chart of Account of Different Companies

Students' Presentation

Session 12

Project prepare balance sheet with account equation

Students' Assignment on Preparation of Balance Sheet with the help of Accounting Equation.

Session 13

The Accounting Process: The Journal, the Ledger, and the Trial Balance

https://www.learnpick.in/prime/documents/ppts/details/649/journal

https://www.youtube.com/watch?v=RPkBmOYCGSM

Session 14

The Accounting Process: The Journal, the Ledger, and the Trial Balance

https://www.learnpick.in/prime/documents/ppts/details/649/journal

https://www.youtube.com/watch?v=hJqgVxgHBGs

Session 15, 16

Subsidiary books – Purchase Book, Purchase Returns Book, Sales Book, and Sales Returns Book. Opening and Closing Entries.

https://www.slideshare.net/PrinsonRodrigues1/subsidiary-books-financial-accounting

https://www.youtube.com/watch?v=b6Z_bbTVO4k

Session 17, 18

Assignment for the Students to find out the various pieces of information required to different users of Accounting.

Students' Presentation

Session 19

The Accounting Process: The Journal, the Ledger, and the Trial Balance

https://www.youtube.com/watch?v=3_PfoTzSCQE#action=share

https://www.youtube.com/watch?v=3_PfoTzSCQE&t=156s

Session 20

Introduction to International Financial Reporting Standards (IFRS). Understanding Accounting Standards issued by the ICAI related to Disclosure of Accounting Policies.

https://www.slideshare.net/ruparajan1/ifrs-71213952

https://www.youtube.com/watch?v=M_su85HBgyM

Session 21, 22, 23

Depreciation: Meaning Causes, Factors affecting depreciation, Methods of providing depreciation, Straight Line Method & Diminishing Balance Method

https://www.slideshare.net/vikasvadakara/depreciation

https://www.youtube.com/watch?v=6SY8s1_OEro

Depreciation Account, Revenue Recognition

Session 28

Profit & Loss Accounts items- Revenue, Expenses, Operating and Non-operating, Profit/Gain, EBDITA, EBDIT, DBIT, EBT, EAT, etc.

https://www.slideshare.net/ashwinprince/profit-and-loss-account-76600151

https://www.youtube.com/watch?v=hrSUq4wcd0g

Session 29

Session 30

Preparation of Trading Account and Profit and Loss Account and Balance Sheet

https://www.learnpick.in/prime/documents/ppts/details/4030/final-accounts

https://www.youtube.com/watch?v=K-1TOD4TkNA

Session 31

Preparation of Trading Account, Profit & Loss Account, Balance Sheet with Practice Problems

Students' Presentation

Session 32, 33

Field studies for collecting the data for preparation of Financial Statement

Students' Presentation

Session 34

Preparation of Trading Account, 6 Profit & Loss Account, Balance Sheet in Excel

https://www.youtube.com/watch?v=tPmxNXHl-nY

Session 35, 36

Preparation of Financial Statements: Preparing Trading Account, Profit & Loss Account and Balance Sheet with Adjustment

Students' Presentation

Session 37, 38

Session 39, 40

Session 41, 42

Project Financial Statements of a company

https://slidemodel.com/templates/financial-statements-powerpoint-template/https://www.youtube.com/watch?v=KD_cL-6jmms

Session 43, 44

Content of Annual Report

Workshop on Case Study of Tata Steel Annual Report

Students' Presentation

https://www.slideshare.net/linusxa/contents-of-an-annual-report

Session 45, 46

Project on Financial Statements of a company - From Annual Report like TCS, TVS Motor, Tata Steel, RIL, etc.

Students' Presentation

Session 47

Overview of Financial Statements Analysis, Business Analysis ,Types of Business Analysis, Components of Business Analysis

https://www.slideshare.net/waelsaid75/business-analysis-fundamentals-13531682

https://www.youtube.com/watch?v=XsKdzHVEXig

Session 48

Project on Business Analysis- From Annual Report like TCS, TVS Motor, Tata Steel, RIL, etc.

Students' Presentation

Session 49

Analysis of Financial Statements Meaning Significance Objectives Advantages

https://www.slideshare.net/bentot25/financial-statement-analysis-35636795

https://www.youtube.com/watch?v=PbCNyFQXYHk

Session 51, 52

Project on Analysis of Financial Statements

Students' Presentation

Session 53

Comparative Finance Statements Analysis

Students will prepare the comparative financial statement data in excel

https://www.youtube.com/watch?v=RlmWa5XiJBA&t=8sSession 16

Session 54

Common Size Financial Statement Analysis

Students will prepare the common size financial statement data in excel

https://www.youtube.com/watch?v=tTKX03hwEf8

Session 55

Trend Analysis

Students will prepare the trend analysis financial statement data in excel

https://www.youtube.com/watch?v=SUr-ZzFBGcQ

Session 56, 57

Project on Analysis of Financial Statements

Students' Presentation

Session 59

Liquidity Ratios and Efficiency Ratios

Students will find out the Liquidity Ratios and Efficiency Ratios  in excel

https://www.youtube.com/watch?v=x7piBwj4ar8

https://www.youtube.com/watch?v=Xgie4sAzlbw

Session 60

Leverage Ratios and Coverage Ratio

Students will find out the Leverage Ratios and Coverage Ratio  in excel

https://www.youtube.com/watch?v=5ufQekp-KIg

https://www.youtube.com/watch?v=vyGRBPLReiY

Session 61, 62

Profitability Ratios

Students will find out the Profitability Ratios  in excel

https://www.youtube.com/watch?v=ROqkmlVuXKU

https://www.youtube.com/watch?v=VOn03QDHgTU

Session 63, 64, 65

Project on Analysis of Financial Statements

Students' Presentation

Case Studies

Case Studies

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    Working as an Associate Professor (Finance) in the School of Management, Centurion University, and Management, Bhubaneswar. Completed MBA from Kanchipuram University in 1998 with specialization in Finance and done Ph.D. entitled “The Impact of Inflation on Business Performance under Conditions of Limited Financial Disclosure: Case of Firms Operating in India”. Have 15 years of teaching […]