COURSE OUTCOMES

2024-2025

Course: Financial Accounting-I

• To acquire conceptual knowledge of accounting and preparation of final accounts of sole trader.
• Accounting process: To make the student acquire the conceptual knowledge of accounting.
• Subsidiary Books: To understand meaning and advantage of using subsidiary book Technique of recording transactions in various subsidiary books &to learn posting to ledger from subsidiary books.
• BRS: The students will be able to understand the meaning and need for the preparation of bank reconciliation statement; To recognize the reason for the difference between bank balance as per cash book and pass book; To prepare the bank reconciliation statement; To determine the correct bank balance as per cash book;
• Rectification of errors and depreciation: To understand the types of Errors and their examples; Rectification the Errors : Two sided i.e. Errors not affecting Trial Balance one sided .To Explain Meaning and Utility of Suspense A/c; Maintain Suspense A/c.
• Final Accounts: To understand the concept of financial statements;; determine the requirements of financial statements; prepare profit and loss account and balance sheet; discern the financial position of a company.

 

Course: Business Organisation management

• To acquaint the students with the basics of commerce and Business concepts and functions and forms of Business Organization.

 

• Fundamental concepts: To facilitate the student to learn concepts of business, trade industry and commerce.

 

• Business Organization : To familiarize with different forms of business organisation its features , merits and demerits.
• Formation of joint stock company: to provide knowledge about the formation of the company,

Important documents and the procedure.

• Sources of finance: to make the students understand about the various sources of finance and a brief introduction on shares, debentures, RE, angle investors, lease, hire ,and franchising.
• Stock exchange and mutual funds: To understand the functions of stock exchanges types and role of SEBI in regulating them.

 

Course: Financial Accounting-II

 

• To acquire accounting knowledge of bills of exchange and other business accounting methods
• Bills of exchange: Understand the meaning of bills of exchange and promissory notes. Calculation of due dates and date of maturity. ... Accounting treatment relating to issue, acceptance, discounting, maturity and endorsement of bills.
• Consignment accounts: to understand meaning and features of consignment business. Learn the terminologies used in consignment business understand the accounting treatment of consignment in the books of consignor and consignee.
• Joint venture accounts : to: Understand the meaning of Joint Venture Learn the need and features of Joint venture business Learn the methods of recording Joint venture transactions Understand the difference between joint venture and consignment
• Accounts from incomplete records :To define the concept of incomplete records: Distinguish between Double entry system and Accounts from incomplete records. Ascertain the amount of profit or loss using" Statement of Affairs" method.
• Accounting for nonprofit organization: Analyse the theory and purpose of 'fund accounting' and apply fund accounting principles to the recording of monetary transactions of state and local governments and other nonprofit organizations.

 

Course: Business Law

• Demonstrate, understand and communicate all the Legal Terminology of Business.
• Understanding Development of Business Law in India.
• Outline Essentials of a valid Contract and agreements expressly declared to be void.
• Wagering Agreements from Contingent contracts and classify different modes of Discharge.
•    Acquire knowledge about Sale of Goods Act 1930 and Consumer Protection Act 1986.
• Explain Intellectuals Property Rights, Information Technology Act & Environmental Protection Act.

 

                                                        Course: Advanced Accounting

• To acquire accounting knowledge of partnership firms and joint stock companies
• Partnership accounts -I: to understand the concepts relating to partnership and problems relating to admission, retirement, and death of a partner.
• Partnership accounts –II: to understand and practically solve problems relating to dissolution, Insolvency and sale of the company.
• Issue of shares, debentures, underwriting, and bonus shares
• To familiarize with issue of shares debentures and underwriting and also with accounting of bonus     shares
• Company final accounts and profit prior to incorporation: To understand the structure of    companies act and preparation of final accounts of companies.
• Valuation of goodwill and shares: practical orientation of valuation of goodwill and shares.

 

Course: Business Statistics-I

• To inculcate analytical and computational ability among the students
• Introduction: to introduce origin and development of statistics ,statistical investigation, Sampling methods and data collection methods.
• Diagrammatic and graphic presentation: to give a practical orientation of diagrammatic presentation in the form of graphs diagrams pictograms, histograms etc.
• Measures of central tendency: to familiarize with various measures of central tendency, mean median mode.
• Measures of Dispersion, skewness and kurtosis: to acquaint with various measures of dispersion .range QD, MD, SD, Variation.
• correlation: to understand the meaning and types of correlation.

 

Course: Income Tax

• To acquire conceptual and legal knowledge  about Income tax provisions relating to    computation of income from different heads with reference to an individual assessee
• Introduction: to give an understanding of direct and indirect taxes and various concepts of IT and also practical knowledge of computation of total income based on residential status.
• Agricultural Income: understanding of agricultural income computation of tax on integration process.
• Income from salaries: familiarize with computation of salary income.
• Income from house property: familiarize with computation of income from house property.
• profits and gains of business or profession: to understand computation of depreciation and  income from business or profession and provisions relating to it
• To acquire conceptual and legal knowledge about income tax provisions relating to computation of Income from different heads with reference to an Individual Assessee
• Capital Gains : To understand the following: Basic Concepts – which would elaborate on the meaning of charging section, transfer, capital asset, previous year, mode of computation, concept of indexation, cost of acquisition, cost of improvement, long term and short term capital asset etc.
• Income from other sources: To understand deductions from Income from other Sources. • Conditions to be Fulfilled for Claiming the. Deductions. • Certain Amounts not Deductible (Section 58). • Profits Chargeable to Tax (Section 59)....
• Clubbing and aggregation of income: To understand –. the methodology of set- off / carry- forward and set-off of losses. About inter-source adjustments and the cases where inter-source adjustment is not permitted.
• Assessment of individuals: To expose the students to the latest provisions of Income Tax Act and To identify the Tax Planning and Assessment Procedures for Individuals.
• Assessment Procedure: To understand types of Income tax assessment: types of returns The process of examination of ITR in the Department, rectification of mistakes etc.

 

 

Course: Business statistics-II

• To inculcate analytical and computational ability among the students.
• Regression analysis : The objective is to know the degree and direction of relationship, and is to estimate a dependent variable with the substitution of one or more independent variables.
• Index numbers: To identify and use the following methods for construction of index numbers :

Aggregate method (ii) simple and weighted index numbers. Test of consistency etc.

• Time series: to introduce components, methods, semi and moving averages least square method deseasonalisation of data uses and limits of time series.
• Probability: To define experiment, outcome, events, probability . basics of set theory permutation and combination and approaches and theorems to probability
• Theoretical Distributions: To be familiar with the techniques of binomial ,poisson and normal distributions central limit theorem its characteristics and fitting a normal distribution.

                           

Course: Corporate Accounting

• To acquire knowledge of AS-14 and preparation of accounts of banking and insurance companies.
• Company liquidation : to familiarise students with the meaning statement of affairs and preparation ofliquidators final statement of accounts.
• Amalgamation : to make the students understand the concept and process of amalgamation accounting treatment in the books of transferor and transferee companies.
• Internal reconstruction and acquisition of business: to acquient with the accounting treatment of internal reconstruction and acquisition of business with new set of book sand same set of books.
• Accounts of banking companies: to know the books and registers to be maintained , and also legal provisions relating to final accounts with problems.
• Accounts of insurance companies and insurance claims : to have knowledge on formats of revenue accounts,balance sheet ,general insurance and preparation of final accounts with special reference to fire and marine insurance including problems.

 

Course: Cost Accounting

• Imbibe conceptual knowledge of cost accounting.
• Select the costs according to their impact on business
• Differentiate methods of schedule costs per unit of production and calculating stock consumption.
•    Identify the specifics of different costing methods and interpret the impact of the selected costs method
• Apply cost accounting methods to evaluate and project business performance
•   Demonstrate mastery of costing systems, cost management systems, budgeting systems and performance measurement systems.

 

Course: Business Economics

• To acquire knowledge for application of economic principles and tools in business practices
• Introduction: conceptual understanding of BE ,features ,importance role and objectives etc.
• Demand Analysis: To understand the Demand analysis and theory and law of demand Data and techniques of demand forecasting Elasticity concepts of demand various demand elasticities.
• Supply Analysis : To familiarize with law of supply market equilibrium consumer surplus and indifference  curve analysis
• Production analysis: to acquaint the students with the conceptual understanding of production function law of variable proportions and economies and diseconomies of scale
• Cost and revenue analysis : To familiarize with traditional and modern approaches break even analysis

                                                           

 Course: Auditing

• Understanding Auditing as per AASB.
• Explain the Qualification, Disqualification, Rights and Duties of an Auditor.
• Describe Audit program, Audit Note Book, Audit Working Notes and Audit Markings
• Define Internal Audit and internal control, its meaning and objectives, types of Vouchers and its application.
• Distinguish between Verification and Valuation of various Assets and Liabilities.
• Describe the meaning and role of Audit Committee with reference to Audit Reports.