Course Description & Objective
The objective of this course is to build upon the accounting topics of FAC203/FAC101 and get deeper into the process and technicalities of financial reports. Broadly, the course has been split into three modules viz., (a) Revisiting corporate financial reports; consolidated financial statements and the accounting standards, (b) reporting flexibilities: recognition, measurement and valuation of various components of accounting reports and (c) creative accounting policies related to financial leases, fair value accounting and Off-balance sheet transactions. Broader philosophies and the conceptual framework of Accounting standards (IFRS and IndAS) run through all topics of this course. Additionally, this course supports student preparations for professional certifications on management accounting.
XI. TEXT BOOK:
• R.Narayanaswamy (2014) Financial Accounting – A Managerial Perspective, 6th Edition, PHI Learning, New Delhi.
XII. RECOMMENDED BOOK(S):
1. Anthony, R.N., D.F. Hawkins and K.A. Merchant (2007) Accounting: Text and Cases, 12th Edition, Tata McGraw Hill, New Delhi.
2. Accounting and Finance for manager (2012) by Ghosh, T.P.
3. Taxman’s fundamentals of financial accounting (2012) by Deepak Sehgal
XIII. ASSESSMENT SCHEME:
Group project 20%
Class assignments 20%
Mid term 30%
End Term 30%