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To understand how to communicate financial information to parties outside the business organization like equity investors, creditors, employees, suppliers and clients.
To help learners to acquire conceptual knowledge of corporate accounting system and to learn the techniques of preparing the financial statements of companies.
|COS||COURSE OUTCOMES||MAPPING COS WITH POS (High-3; Medium-2; Low-1)|
|CO1||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).||PO1(3), PO2(2)|
|CO2||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).||PO1(2), PO2(2), PO3(3)
|CO3||Read, interpret and analyze financial statements; combine financial analysis with other information to assess the financial performance and position of a company;||PO1(3), PO2(3)|
Accounting for Share Capital & Debentures:
Types of shares; Issue and Pro-rata allotment of shares; concept & process of book building; forfeiture and reissue of forfeited shares; Issue of rights and bonus shares; ESOPs and Buy Back of shares; Issue and Redemption of preference shares and Debentures.
Preparation of Financial Statements of Companies including one Person Company:
Preparation of financial statements of corporate entities including one Person Company (excluding calculation of managerial remuneration) as per Division I and II of Schedule III of the Companies Act 2013;PreparationofStatement of Profit and Loss, Balance Sheet and Cash flow Statement of corporate entities.
Valuation of Shares and Goodwill:
Valuation of Goodwill and Valuation of Shares: Concepts and calculation: simple problem only
Internal Reconstruction and Profit or Loss Prior to Incorporation
Internal Reconstruction: Different forms of Internal Reconstruction; Accounting treatment for alteration of share capital and reduction of the share capital; Preparation of balance sheet after Internal Reconstruction.
Profit or loss Prior to Incorporation: Meaning of profit or loss prior to incorporation; accounting` treatment of profit or loss prior to incorporation.
Amalgamation of Companies:
Concepts Amalgamation and Business Combination of companies; Consideration/ purchase price for amalgamation/ business combination; accounting entries for amalgamation/ business combination; preparation of amalgamated balance sheet (excluding inter-company holdings) applyingAS14/Ind AS 103.
Liquidation of CompanyConcepts and theoretical aspects of Liquidation of Company. Simple problem only.
Corporate Financial Reporting:
Meaning, need and objectives; Constituents of Annual Report and how it is different from financial statements; Contents of annual report; mandatory and voluntary disclosures through annual report. Contents of the Report of the Board of Directors; E-filing of annual reports of companies and XBRL Filing with specific practical exercises; (In reference to Relevant Accounting Standards/Ind AS as applicable.).
Discussion of Course Outlines and Lesson Plan with Introduction to company with details.
Introduction to shares, debentures, types of shares, debenture and Types of Debentures.
Issue of shares, forfeiture of share, Reissue of shares.
Practice-1 Simple Journal Entries
Practice-2 Simple journal entries-1
Process of book building; Issue of rights and bonus shares.
Introduction to Buy back of shares, Redemption of preference shares.
Introduction to shares Capital, Redemption of debenture.
Redemption of shares and Debentures and difference
Introduction to cash flow statement.
Concept of Valuation of Goodwill.
Methods for Valuation of Goodwill.
Practice questions on VALUATION OF GOODWILL UNDER DIFFERENT METHODS
Preparation of profit and loss account, Preparation of Balance sheet of corporate entities (Types of Assets and Liabilities)
Materials ASSETS AND LIABILITIES
Introduction to schedule-III
Internal reconstruction: concepts and accounting treatment excluding scheme of reconstruction
Difference between Internal reconstruction and external reconstruction:
Basic of Internal reconstruction and external reconstruction:
Preparation of balance sheet after Internal Reconstruction.
Theoretical aspect of Absorption.
Preparation of consolidated balance sheet with one subsidiary company in relation to Holding Companies/Parent Companies
Holding Companies_Parent Companies
Concepts Amalgamation and Business Combination of companies.
Consideration/ purchase price for amalgamation/ business combination.
Concepts and theoretical aspects of Liquidation of Company.
Introduction to Liquidation of Company.
Some practical practices from liquidation of company.
Practices- Liquidation of Company
Meaning, need and objectives; Constituents of Annual Report.
Meaning, need and objectives of Director's Report.
Material- Director's Report
Contents of Annual Report.
E-filing of annual reports of companies and XBRL Filing with specific practical exercises;
Dr. Prakash Chandra Swain M.COM, M.PHIL, PhD (Ravenshaw University) Assistant Professor (Accounting & Finance) , B.COM Coordinator, School of Management, Centurion University of Technology and Management, Jatni, Khurda, Odisha, India, PIN-752050, Bhubaneswar Campus