2. Student Learning Outcomes (typically 3-5 bullet points)
· Be able to read and understand financial statements · Be able to use accounting information for decision-making · Be able to analyse the financial performance of a business entity
3. Required Text Books and Reading Materials
1. Financial Accounting- Libby, Libby & Hodge; MGH, 9e 2. Financial Accounting – A Managerial Perspective by R. Narayanaswamy 3. Financial Accounting for Management by Paresh Shah, OXFORD(Second Edition) 4. Financial Accounting by Marian Powers & B.E. Needles, Cengage Learning(11th edition) 5. Financial Accounting by Gary A. Porter and Curtis L. Norton; Cengage Learning(India Edition),6E 6. Financial Accounting by Ashok Banerjee 7. Financial Accounting for Business Managers by Asish K. Bhattacharya 8. Financial Accounting –Reporting and Analysis by Stice and Stice 9. Hand outs
4. Tentative Session Plan
Session 1: Introduction, Forms of Business organisations, and Business Decisions: Understanding the business operations, Forms of Business Organisation, Importance of Accounting and its Users, Conceptual Framework, Accounting principles and conventions, GAAP, Ind As and IFRS
Readings: Libby, Libby & Hodge- Ch 1, page 5-41; R.Narayanaswamy-Ch.1 page 1-15; Ch1, page 4-20; Porter and Norton- Ch1, page 19-51; Asish K. Bhattacharyya-Ch.1, page 9-11
Session 2: Basic Financial Statements: Accounting Equation, Financial Statements and Information Reporting, Objectives of Financial Reporting, Transaction Analysis, Annual Report
Readings : Libby, Libby & Hodge- Ch. 1, page 5-41; R.Narayanaswamy-Ch.1, page 16-34; Powers and Needles- Ch1, page 4-20, Ch2, page 98-104;Porter and Norton- Ch 2, page 82-110; Asish K.Bhattacharya- Ch.2, page 20-23
Session 3 & 4: Investing and Financing Decisions and The Accounting System: Business entity concept, Going Concern Concept, elements of Balance Sheet, Financing provided by owners and by operations
Readings: Libby, Libby & Hodge- Ch 2, page 43-80; R.Narayanaswamy-Ch.2, page 63-105
Session 5 & 6: Operating Decisions and the Income Statement- How business activities affect Income statement, Recognition and Measurement of Revenue, Recognition and Measurement of Expenses, Cost of Goods Sold and Inventory, Beyond the bottom line, Gross profit, Operating income, Net income, Individual items, relevant Ind As
Readings : Libby, Libby & Hodge- Ch 3, page 103-162; R.Narayanaswamy-Ch. 4, page114-140; Powers and Needles-Ch 3, page138-152’ Ch 4, page 198-215; Porter and Norton- Ch 4, page 198-231;; Asish K.Bhattacharya- Ch.3, page 54-63, Stice and Stice- page 177, Annual Reports of Companies,
Session 7: Depreciation Accounting: What is depreciation, Methods of depreciation, Factors to consider while computing depreciation, Accounting for income tax; relevant Ind As
Readings: : Libby, Libby & Hodge – Ch. 8 page 389-450; R.Narayanaswamy- Ch.6, page 215-249; Powers and Needles- Ch 9, page 402-425; Porter and Norton- Ch 8, Page 459-490; Stice and Stice- Ch 12, Page 548-554;
Session 8: Adjustment and Financial Statements: Accounting Cycle, types of adjustments- deferred revenues, accrued revenues, deferred expenses, accrued expenses, measurement of bad debt expenses
Readings: Libby, Libby & Hodge- Ch 4, page 165-195; R.Narayanaswamy-Ch.3 page 108-151 & Ch 4, page 172-192
Session 9 & 10: Preparation of Financial statements: Balance sheet and Profit and loss statement
Readings: Problem solving exercises from the book, Cases
Session 11: Investing Decisions and the Balance Sheet: What are long-term assets, Accounting for Property, Plant, and Equipment, Accounting for intangible assets, Borrowing cost, Natural Resources, Impairment of assets, Revaluation of property, Investment property; relevant Ind As
Readings: : Libby, Libby & Hodge – Ch. 8 page 389-450; R.Narayanaswamy-Ch. 6, page 215-249; Powers and Needles- Ch 9, page 402- 425; Porter and Norton- Ch. 8, page 459- 490; Stice and Stice- Ch. 12, page 534-545,
Session 12: Valuation of inventory and measurement of income: Matching inventory cost with revenue, Effect of inventory error, Inventory cost, NRV, Cost formulas(FIFO, WAC), periodic and perpetual inventory system, relevant Ind As
Readings: Libby, Libby & Hodge- Ch.7,page 332-380; R.Narayanaswamy-Ch.5, page182-205; Powers and Needles- Ch6, page 290-305; Porter and Norton-Ch 5, page 278-326; Stice and Stice- Ch 10, page 425- 450,
Session 13,14 &15: Statement of Cash Flows: Purpose of Cash Flow Statement, Two methods of reporting cash flow from Operating activities, cash flow from investing activities, cash flow from financing activities, Reporting and Interpreting Cash Flows; relevant Ind As
Readings: : Libby, Libby & Hodge – Ch.12, page 601-655; R.Narayanaswamy Ch.13, page 459-482, Powers and Needles- Ch 12, page 538-560; Porter and Norton- Ch. 12, page 700-743, Stice and Stice- Ch.6, page 231-246;
Session 16: Financial Assets and Balance Sheet: Cash and cash equivalent, trade receivables and credit losses, bills receivables; cash management and control,
Readings: : R.Narayanaswamy-Ch.7, page 265-276; Powers and Needles- Ch 7, page 328-345; Porter and Norton- Ch 6 and 7, page363-440; Stice and Stice- Ch 9, page 376-400
Session 17: Operating Liabilities and Balance Sheet: Debt financing, Classification of liabilities, Current liabilities, current tax, deferred tax; relevant Ind As
Readings: Libby, Libby & Hodge – Ch. 9 page 458-495; R.Narayanaswamy- Ch 9, page 418-460; Powers and Needles- Ch 10, page 444-465; Porter and Norton- Ch 9 and 10, page 513-599; Stice and stice- Ch.14, page 648-678;
Session18: Lease Accounting and Balance Sheet: Operating lease, finance lease, relevant Ind As
Readings: Libby, Libby & Hodge – Ch. 9 page 458-495; R.Narayanaswamy- Ch 9, page 418-460; Powers and Needles- Ch 11, page 488-514; Porter and Norton- Ch. 11, page 630-645; Stice and Stice- Ch 15, 701-716, Annual report of companies;
Session 19 & 20: Stockholders’ Equity: Financing with equity, Common stock, Preferred stock, dividends Buy-back of shares, Reserves and Surplus, Earnings per share, Bonus shares, Statement of changes in equity; relevant Ind As
Readings: Libby, Libby & Hodge – Ch. 11, page 555-583; R.Narayanaswamy- Ch 10, page 482-512
5. Evaluation
1. Quiz : 20 marks
2. Assignment 10 marks
3. Mid-term Exam 30 marks
4. End-term Exam. 40 marks
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Total 100 marks
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6. Academic Integrity
As per institute’s norms
Created By: Debasis Mohanty on 06/15/2019 at 10:30 AM Category: BM19-21 T-I Doctype: Document