Module 1

Module 1: To apply accounting standards and principles in the preparation and analysis of financialstatements. (Apply) (6 hours)

1. Review of basic financial accounting process.
2. Accounting and emerging technologies.
3. Introduction to annual report and integrated reporting.
4. Indian accounting standards and principles.
5. Auditing and assurance.
6. The concept of accrual accounting.

Module 2

Module 2: Prepare financial statements in accordance with GAAP (Create) (6 hours)

1. Recording inventory.
2. Recording long lived assets.
3. Recording financial liabilities.
4. Recording equity.

Module 3

Module 3: Analyze information in financial statements for business decision making (Evaluate) (6 hours)

1. Analysis of financial statements.

Module 4

Module 4: Take decisions from various financial and non-financial reports (Analyze) (6 hours)

1. Non-financial reporting and disclosures.
2. Sustainability reporting.

Module 5

Module 5: Apply cost management in decision making (Apply) (6 hours)

1. Costing in complex and fast changing environment.
2. Operating performance measures and Decisions in Costing.

Course Description

Good financial accounting provides the owners, managers and other business stakeholders with information required for decision making and keeps the business under control. Cost Accounting helps business to identify product and process profitability, help in pricing decisions as well as Make or Buy decisions etc. It also focuses on Variances as a starting point to reduce cost or control costs. Contemporary cost management scenario is built around the latest business complications like large variety of products as well as processes with a focus on faster cycle time and increased productivity.

This course covers both financial and management accounting.

Course Outcomes& Learning levels

1. To apply accounting standards and principles in thepreparation and analysis of financial statements.(Apply)
2. Prepare financial statements in accordance with GAAP (Create)
3. Analyze information in financial statements for business decision-making (Evaluate)
4. Take decisions from various financial and non-financial reports (Analyze)
5. Apply cost management in decision-making (Apply)

Evaluation Pattern

*Based on assignments / Tests / Quizzes / Case Studies / Projects / Term paper / Field visit report.

Text Book:

1. Financial and Management Accounting: An Introduction, Pauline Weetman, 8th edition, Pearson

Reference:

1. Financial Accounting by Narayanswamy, PHI learning, 7th Edition.

1. Cost Accounting: A Managerial Emphasis, Horngren, C.T., Datar, S., Foster, G. (2015).