DEPARTMENT OF COMMERCE

B.Com (Hons.)

[Under Curriculum and Credit Framework for Undergraduate Programmes (CCFUP) as per NEP- 2020]

Course Outcomes

 

 

 

 

 

 

 

 

 

Semester –I

COM1011: FINANCIAL ACCOUNTING-I

Objectives: The objective of this paper is to help students to acquire conceptual knowledge of the corporate accounting and to impart skills for recording various kinds of corporate transactions.

Course Outcomes:

The students will be able to understand and identify the accounting principles, rules and procedures which are relevant to different types of transactions. The students will be able to apply the accounting principles, rules and procedures in recording different types of transactions.

Unit 1: Theoretical Framework

i) Financial accounting conceptual framework: Accounting Principles, GAAP, Concepts and Conventions; Entity, Matching Concept, Dual Aspect, Money Measurement, Going Concern, Cost, Realization, Accruals, Periodicity, Consistency, Conservatism, Materiality and Full Disclosures.

ii) Accounting Standards: Concepts, benefits, and procedure for issuing accounting standards in India. Salient features of First-time adoption of Indian Accounting Standards (Ind-AS101).

iii) International Financial Reporting Standards (IFRS): Need and due process to set IFRS.  

Learning Outcomes:

Learners will be able to:

1. Understand the concepts of Financial Accounting and its uses.
2. Understand the concepts of Accounting Principles and Accounting Standards.
3. Understand the Need of International Financial Reporting Standards (IFRS).
4. Understand the qualitative characteristics of financial reporting.

Unit 2:

a) Single Entry: Distinction between Single Entry System and Double Entry System, Defects of Single Entry System, Preparation of Accounts from Incomplete Records, Conversion from Single Entry System to Double Entry System.

b) Sectional Balancing and Self-Balancing Ledger

Learning Outcomes:

1. Understand the concepts of Single Entry System and Double Entry System
2. Preparation of Sectional Balancing and Self-Balancing Ledger.

Unit 3: Consignment Accounting

Basic features of Consignment; the difference between Consignment and Sales; Preparation of Accounts in the books of Consignor and Consignee at Cost price and Invoice price: Valuation of unsold stock; Ordinary Commission, Del-credere commission, Special Commission; Valuation of normal and abnormal loss; Preparation of Consignment Debtors Account

Learning Outcomes:

1. Understand the concepts Consignment and preparation of consignment accounts.
2. Understand the treatment of Ordinary Commission, Del-credere commission, Special Commission;
3. Valuation of normal and abnormal loss and their treatments in consignment accounts.

Unit 4: Insurance Claim for Loss of Stock and Loss of Profits

Learning Outcomes:

1. Understand the concept of Insurance claim.
2. Computation of insurance claim.
3. Preparation of loss of profit accounts.

Unit 5: Partnership Accounts – I

Preparation of Accounts: P/L Appropriation Account, Capital & Current Account; Guarantee - by the firm, by a partner and both; correction of appropriation items with retrospective effect; change in the constitution of firm due to change in profit sharing ratio, admission, retirement.

Learning Outcomes:

1. Understand the concept of partnership.
2. Preparation of partnership accounts.
3. Treatment of goodwill in partnership accounts.
4. Computation of profit sharing ratio in partnership.

COM1021: BUSINESS MATHEMETICS AND STATISTICS I

• COURSE OBJECTIVES: The objective of this course is to familiarize students with the applications of mathematics and statistical techniques in business decision-making. The overarching objective of Statistics in Business is for students to describe data and make evidence based decisions using inferential statistics that are based on well-reasoned statistical arguments. It is very essential to develop the students’ ability to deal with numerical and quantitative issues in business.
•  
• COURSE TEACHES:
• Unit 1: Introductory Algebra

This unit includes- (a) Indices and Logarithms, (b) Set Theory and (c) Permutation and combination.

• COURSE OUTCOMES:

The course outcomes of studying indices and logarithms in the context of business statistics and mathematics typically include both theoretical understanding and practical application. Here are some common outcomes:

1. Understanding Exponential Growth and Decay: Mastery of how indices represent exponential growth and decay, essential for modeling compound interest, population growth, and investment returns in business and financial contexts.
2. Exponential Functions: Ability to manipulate and solve equations involving exponential functions, crucial for analyzing trends and forecasting in economics and finance.

 

1. Logarithmic Relationships: Understanding the inverse relationship between logarithms and exponentials, used extensively in analyzing data trends and transforming data for statistical analysis.
2. Practical Applications: Applying exponential functions to business scenarios such as depreciation schedules, growth projections, and portfolio analysis.
3. Logarithmic Scales: Mastery of logarithmic scales and their applications in business metrics such as the decibel scale, pH scale, and Richter scale, critical for interpreting data in fields like finance, marketing, and environmental science.
4. Logarithmic Transformations: Ability to use logarithms to transform non-linear data into linear form for regression analysis and other statistical techniques, enhancing the accuracy of predictive models in business analytics.
5. Financial Calculations: Applying logarithms in financial calculations such as compound interest, present value, and future value calculations, essential for financial planning and investment analysis.
6. Set Operations: Proficiency in performing set operations (union, intersection, complement) to analyze data sets and make informed decisions in business scenarios involving customer segmentation, market analysis, and inventory management.
7. Venn Diagrams: Understanding and using Venn diagrams to visually represent relationships between sets, aiding in strategic decision-making and problem-solving in business contexts.
8. Probability and Sets: Applying set theory concepts to probability theory, essential for calculating probabilities of events in business risk assessment, quality control, and marketing analytics.
9. Counting Principles: Mastery of counting principles to calculate permutations and combinations, crucial for determining the number of arrangements and selections in business scenarios such as product configurations, team formations, and lottery odds.
10. Probability Applications: Applying permutation and combination principles to calculate probabilities in scenarios involving sampling, distribution, and random selection, essential for risk assessment and decision-making in business and finance.
11. Combinatorial Optimization: Using permutation and combination techniques for optimization problems in resource allocation, scheduling, and production planning, improving efficiency and profitability in business operations.

Overall Outcomes: Developing strong analytical skills through the application of indices, logarithms, set theory, permutation, and combination in solving complex business problems and making data-driven decisions.

• Unit 2: Mathematics of Finance

This unit includes- Compound interest and annuities

COURSE OUTCOMES:

Studying the mathematics of finance, particularly focusing on compound interest and annuities, equips students with fundamental skills and knowledge essential for various applications in business statistics and mathematics. Here are the specific course outcomes typically associated with this area:

1. Understanding Compound Interest: Mastery of the concept of compound interest, including its calculation methods and applications in financial scenarios such as investments, loans, and savings accounts.
2. Compound Interest Formulas: Proficiency in using compound interest formulas to calculate future values, present values, interest rates, and time periods involved in financial transactions.
3. Financial Planning: Application of compound interest principles in long-term financial planning, retirement savings, and investment strategies, enabling informed decision-making and goal setting.
4. Comparative Analysis: Using compound interest to compare different investment options, loan terms, and savings plans, enhancing financial decision-making in personal finance and business investments.
5. Understanding Annuities: Mastery of the concept of annuities, including types (ordinary annuities vs. annuities due), payment schedules, and calculation methods for future and present values.
6. Annuity Formulas: Proficiency in using annuity formulas to calculate regular payments, present values, and future values in scenarios such as retirement plans, insurance premiums, and mortgage payments.
7. Investment Analysis: Applying annuity concepts to analyze investment opportunities, evaluate cash flow streams, and assess the profitability and risk of financial instruments like bonds and pensions.
8. Risk Management: Using annuities to manage financial risks through structured payment plans and insurance products, optimizing financial resources and ensuring stability in business and personal finances.

Overall Outcomes: Developing strong financial literacy by understanding and applying compound interest and annuity principles to real-world financial decisions and planning scenarios.

• Unit 3:Matrix Algebra and Determinants

This unit includes- (a) Matrix and (b) Determinant of square matrix

COURSE OUTCOMES:

Studying matrix algebra and determinants in the context of business statistics and mathematics provides a robust foundation for various analytical techniques and problem-solving skills. Here is the specific course outcomes typically associated with these topics:

 

1. Matrix Operations: Mastery of basic matrix operations such as addition, subtraction, multiplication, and scalar multiplication, which are essential for organizing and manipulating data in business applications.
2. Matrix Properties: Understanding matrix properties such as symmetry, invariability, and rank, enabling students to analyze data structures and relationships efficiently.
3. System of Linear Equations: Using matrices to solve systems of linear equations, which are crucial for optimization problems, resource allocation, and economic modeling in business and economics.
4. Matrix Transformations: Applying matrix transformations to analyze geometric and data transformations, useful in fields such as image processing, data compression, and machine learning applications.
5. Eigenvalues and Eigenvectors: Understanding eigenvalues and eigenvectors of matrices and their applications in stability analysis, portfolio optimization, and system dynamics in business and finance.
6. Determinant Calculation: Proficiency in calculating determinants of matrices, understanding their geometric and algebraic interpretations, and their significance in solving systems of equations and assessing matrix properties.
7. Cramer's Rule: Applying Cramer's Rule, which uses determinants, to solve systems of linear equations, providing an alternative method for solving equations in business and economic contexts.
8. Matrix Inversion: Using determinants to determine when a matrix is invertible and calculating the inverse of a matrix, essential for solving optimization problems and analyzing multivariate relationships in business analytics.

Overall Outcomes: Developing strong analytical skills through the application of matrix algebra and determinants to model and solve complex business problems involving data organization, optimization, and decision-making. Quantitative Literacy: Enhancing quantitative literacy by understanding and applying advanced mathematical concepts related to matrices and determinants in business statistics and mathematics. Problem-solving Abilities: Strengthening problem-solving abilities by using matrix algebra and determinants to analyze and interpret data, optimize processes, and make data-driven decisions in business operations. Computational Proficiency: Improving computational proficiency through practical exercises and software applications that involve matrix operations and determinant calculations, enhancing technical skills relevant to data analysis and modeling.

• Unit 4:Linear Programming

This unit includes- LPP, graphical solution of LPP and other cases.

COURSE OUTCOMES:

Studying linear programming problems (LPP) in the context of business statistics and mathematics equips students with essential skills for optimizing resource allocation, decision-making, and operational efficiency. Here are the specific course outcomes typically associated with linear programming in business statistics and mathematics:

1. Understanding Linear Programming: Formulation of Optimization Problems: Ability to formulate real-world problems into mathematical models using linear inequalities and objective functions, crucial for decision-making in business operations.
2. Graphical Method: Mastery of the graphical method for solving simple linear programming problems, enabling visual representation and interpretation of feasible regions and optimal solutions.
3. Simplex Method: Proficiency in applying the simplex method, a powerful algorithm for solving complex linear programming problems involving multiple decision variables and constraints.

Overall Outcomes: By achieving these outcomes, students gain a solid foundation in linear programming, preparing them for roles in operations research, management consulting, supply chain management, finance, and other fields where optimization and decision-making are critical components of success.

• Unit 5:Descriptive Statistics

This unit includes- Measures of Central Tendency , Dispersion, Moments, Skewness and Kurtosis

COURSE OUTCOMES:

Studying measures of central tendency, dispersion, moments, skewness, and kurtosis in the context of business statistics and mathematics provides foundational knowledge and skills essential for understanding and analyzing data variability and distribution. Here are the specific course outcomes typically associated with these topics:

1. Measures of Central Tendency: Understanding Central Tendency: Mastery of measures such as mean, median, and mode to summarize the central or typical value of a dataset, essential for interpreting and comparing data in business analytics.
2. Application in Business: Applying measures of central tendency to analyze business metrics such as sales figures, customer satisfaction scores, and employee performance ratings, facilitating informed decision-making and performance evaluation.
3. Robust Measures: Knowledge of robust measures of central tendency such as trimmed mean and Winsorized mean, which are useful in minimizing the impact of outliers in skewed data distributions.
4. Understanding Dispersion: Mastery of measures such as range, variance, standard deviation, and interquartile range (IQR) to quantify the spread or variability of data around the central tendency, crucial for assessing risk and variability in business contexts.
5. Application in Risk Assessment: Applying measures of dispersion to assess risk in financial investments, project timelines, and production processes, enhancing risk management strategies and decision-making.
6. Relationship with Central Tendency: Understanding the relationship between measures of central tendency and dispersion to interpret the distribution and variability of data, providing insights into data quality and reliability in business analytics.
7. First and Second Moments: Knowledge of the first moment (mean) and second moment (variance) as fundamental descriptors of data distribution, used in analyzing data patterns and trends in business performance and market behavior.
8. Higher-order Moments: Understanding higher-order moments (skewness and kurtosis) to assess asymmetry and peakedness of data distributions, essential for understanding market fluctuations, customer behavior patterns, and investment risk profiles.
9. Skewness: Proficiency in interpreting skewness to identify asymmetry in data distributions, which is crucial for analyzing market trends, consumer preferences, and financial performance metrics in business analysis.
10. Kurtosis: Understanding kurtosis to assess the peakedness or flatness of data distributions, aiding in evaluating the stability and volatility of financial assets, production outputs, and quality control measures.

Overall Outcomes: By achieving these outcomes, students gain a solid foundation in statistical analysis, preparing them for roles in data analysis, business intelligence, financial analysis, market research, and other fields where understanding and interpreting data variability and distribution are essential for success.

Comm1031: FUNDAMENTALS OF ACCOUNTING

Objectives:

The objective of this paper is to help the students to acquire basic knowledge of Accounting and to develop the knowledge to understand financial reports as stakeholders.

Learning Outcomes:

Learners will be able to:

1. Understand the basic concepts of Accounting.

2. Understand and prepare the Financial Statement of the proprietary concern.

3. Understand and prepare the Financial Statement of non-trading concern

Unit 1: Introduction of Accounting

1. Accounting: Meaning, objectives, Types of accounting information, Users of accounting information and their needs. Basis of accounting - cash basis, accrual basis and hybrid basis. Types of accounting - Financial Accounting, Cost Accounting and Management Accounting.
2. Accounting Principles: Entity Concept, Money Measurement Concept, Going Concern Concept and Accounting Period Concept.
3. Basic Accounting Terms: Transaction, Event, Capital, Drawings, Asset (Fixed and Current). Liabilities (Long term, Short Term or Current), Receipts (Capital & revenue), Expenditure (Capital, Revenue and Deterred Revenue), Income, Profit and Loss, Purchase, Sales, Stock, Debtors, Creditors. Cost, Revenue, Discount (Cash & Trade)

Learning Outcomes:

1. Understand the concept of Accounting, cash basis, accrual basis and hybrid basis of accounting.
2. Learn the different types of accounting.
3. Understand the Principles of accounting.
4. Understand the concept of Transaction, Event, Capital, Drawings, Assets

Unit 2: Recording of Transactions and Preparation of Trial Balance

Double Entry System, Evidence of transactions: Books of Original Entry, Cash Book: Special Purpose Books: Ledger: Trial Balance: Bank Reconciliation Statement:

Learning Outcomes:

1. Understand the concept of double entry system.
2. Understand the concept of cash book.
3. Understand the concept of ledger and the Utility of ledger and also posting from Journal, Cash Book and Special Purpose Books.
4. Understand the concept of Trial balance.
5. Understand the concept and preparation of Bank Reconciliation Statement.

Unit 3: Financial Statement

1. Financial Statement: Objective and Importance.
2. Trading and Profit & Loss Account: Preparation of Accounts
3. Balance Sheet: Need for Preparation, Grouping and Marshaling of Assets & Liabilities.
4. Preparation of Financial Statement: Preparation of Trading and Profit & Loss Account and Balance Sheet of sole proprietorship trading concern.

Learning Outcomes:

1. Understand the concept of Trading and Profit & Loss Account, Balance Sheet.
2. Preparation of the Trading and Profit & Loss Account, Balance Sheet.
3. Understand the concept of Grouping and Marshaling of Assets & Liabilities.

 

Unit 4: Financial Statement of Non-Profit Seeking Organizations

1. Non-Profit Seeking Organization: Concept
2. Receipts and Payments Account: Need for preparation and features.
3. Income and Expenditure Account: Need for preparation and features.
4. Financial Statement: Preparation of Income & Expenditure Account and Balance Sheet from the given Receipts & Payments Account and additional information.

Learning Outcomes:

1. Understand the concept Non-Profit Seeking Organization.
2. Preparation of the Receipts and Payments Account.
3. Preparation of the Income and Expenditure Account.

 

Comm1051: E-COMMERCE

Objectives:

To enable the student to become familiar with the nechanis1m for conducting business transactions through electronic means.

Learning Outcomes: 

After completion of the course, learners will be able to:

1. Describe the challenging needs of society in the field of e-commerce.

2. Evaluate various applications in the context of online transactions.

3. Compare various e-payment systems.

4. Analyze security and operational issues in e-commerce.

Unit 1: Introduction

E-Commerce-meaning, nature, concepts, advantages and disadvantages, types; e-commerce business models B2B [concept, major activities, types of B to B market (independent, buyer oriented, supplier oriented, e-marketplace)], B2C [portals, e-tailer, content provider, transaction broker, real-life examples of B2C], C2C, C2B, etc.: forces behind e-commerce, e-Governance [meaning, types, significance, real-life examples].Traditional commerce vs. E-commerce, E-commerce vs. M-commerce, E-commerce vs. E-business, Impact of E-commerce on society

Learning Outcomes:

1. Understand the concept of E-Commerce, B2B, C2C, C2B.
2.  Learn the various e-payment systems.
3. Impact of E-commerce on society

Unit 2: E-CRM and SCM

E-CRM-definition, features, goals of E-CRM business framework, phases of E-CRM, types of E CRM, Functional components of E-CRM, strategies for E-CRM solutions; SCM-definition, features, types of supply chain

Learning Outcomes:

1. Understand the concept of E-CRM and SCM,
2. Application of the different types of E CRM.
3. Understand the concept of supply chain

Unit 3: Digital Payment

Methods of e-payments (Debit Card, Credit Card, Smart Cards, e-Money), electronic or digital wallet, digital signature (procedures, working and legal provisions), payment gateways [Core Banking Solution or CBS, Mobile Payment, UPI, NCPI, International Payments], Online banking [meaning, concepts, importance, electronic fund transfer, automated clearing house, automated ledger posting], risks involved in e-payments.

Learning Outcomes:

1. Understand the concept of e-payments.
2. Application of different e-payments such as Debit Card, Credit Card, Smart Cards, e-Money.
3. Understand the importance of payment gateways.
4. Analyze the risk involved in e-payments.

Unit 4: ERP

Definition, features, major characteristics, levels of ERP, benefits of ERP, enterprise potential of ERP, modules of ERP, phases of ERP implementation, limitations of ERP.

Learning Outcomes:

1. Understand the concept and meaning Enterprise Resource planning.
2. Understand the usage of ERP
3. Learn the different modules of ERP
4. Understand the limitations related with ERP.

Unit 5: New Trends in E-Commerce

Social Commerce-concept, definition, features; Digital Marketing-definition, objectives, methods, limitations; Advertisement in Social Media-objectives, advantages and disadvantages, procedures

Learning Outcomes:

1. Understand the concept Social Commerce
2. Understand the methods involved in digital marketing and how the marketing change over time.
3. Understand the importance of advertising and also the limitation attached with advertising.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Semester II

Comm2011: COST AND MANAGEMENT ACCOUNTING-I

Objectives:

To develop an understanding of the basic concepts and applications to establish the cost associated with the production of products and services, ii) To develop an understanding of cost accounting statements, and iii) To acquire the ability to apply information for cost ascertainment, planning, control and decision-making.

Learning Outcomes:

After completion of the course, learners will be able to:

1. Examine and analyze the different cost concepts
2. Determine various components of the cost of production.
3. Classify unit cost and total cost by preparing a cost statement.
4. Compute employee cost, employee productivity and employee turnover.

Unit 1: Introduction to Cost and Management Accounting

· Meaning and concept of Cost, Costing, Cost Accounting, and Cost Accountancy. Objectives and Scope of Cost and Management Accounting, Evolution, advantages and limitations of Cost and Management Accounting. Users of Cost and Management Accounting information. Role of Cost Accounting department and its relation with other departments

· Cost Objects, Cost Units, Cost Centres and Responsibility Centres Installation of Cost Accounting System. Cost Classification. Elements of Cost, Cost Control and Cost Reduction. Cost behaviour pattern, Separating the components of fixed, variable and semi-variable costs.

· Preparation of Cost Sheets for Manufacturing and Service Sectors. Relationship of Cost Accounting, Financial Accounting, Management Accounting and Financial Management, Methods of Costing and Techniques of Costing

Learning Outcomes:

1. Understand the concept of Cost, Costing, Cost Accounting, and Cost Accountancy.
2. Understand the concept of fixed, variable and semi-variable costs
3. Understand the concept of Management Accounting and Financial Management
4. Understand the concept of Cost Objects, Cost Units, Cost Centres and Responsibility Centres Installation of Cost Accounting System.
5. Learn the Relationship of Cost Accounting, Financial Accounting, Management Accounting and Financial Management
6. Understand the concept of Cost Control and Cost Reduction

Unit 2: Material Cost

· Concept of Material and Inventory

Material Control-Meaning, Objectives, Prerequisites, Elements and Advantages.Material Procurement: Organization, Methods, Procedures Pricing. Procedures and documentation involved in Procuring, Storing and Issuing material. Various inventory control techniques and determination of various stock levels. Computation of EOQ and apply the EOQ to determine the optimum order quantity.

· Material Issue procedure and valuation of material issues

Selection of pricing methods- FIFO, LIFO, Average etc, Various methods of inventory accounting and preparation of Stores Ledger/Account, Identification and Treatment of Normal and abnormal Loss and its accounting treatment. Accounting and Control of Waste, Scrap, Spoilage and Defectives

Learning Outcomes:

1. Understand the concept of Material and Inventory.
2. Understand the concept of Economic Order Quantity.
3. Understand the Concept of different procedures of issuing materials.
4. Understand the Concept of Normal and Abnormal Loss and its accounting treatment in stock maintenance.

Unit 3: Employee Labour Cost

Meaning and importance of Employee/ Labour Cost in an organization Classification of Labour Cost. Labour cost control, Attendance and payroll procedures: Time Keeping and Time Booking, Meaning, importance, control and accounting treatment of Idle Time, Overtime. Labour turnover -meaning, reasons, methods of measurement and control. Various methods of remuneration and incentive systems in the calculation of wages and bonuses, Time rate and piece rate system, Efficiency rating procedures, and Labour productivity.

Learning Outcomes:

1. Understand the Concept of Labour Cost.
2. Techniques involved in maintain the labour cost.
3. Method used in computation of labour cost.
4. Understand the Concept of Labour productivity

Unit 4: Overheads

Meaning and importance, Classification, Allocation, Apportionment, and Absorption of Overheads, Accounting and Control of Factory/Manufacturing Overheads, Primary distribution and Types of overhead rates, Meaning and Treatment of under absorption and over absorption of overheads and apply the same in cost computations, Accounting and Control of Administrative Accounting and (Control of Selling and Distribution Overheads). Treatment of certain items in costing: interest and financial charges, depreciation, packing expenses, fringe benefits, bad debt, training expenses, research and development cost, canteen expenses.

Learning Outcomes:

1. Understand the Concept of Overheads and its classification.
2. Understand the treatment of and financial charges, depreciation, packing expenses, fringe benefits, bad debt, training expenses, research and development cost.
3. Understand the Concept of under absorption and over absorption.

Unit 5: Cost Accounting Systems

Concept of Cost Accounting or Cost Control System, Non-integral System of Accounting Advantages and limitations of Non-Integral System, Cost Accountino Ledoers andControl Accounts and Scheme of Joumal entries

Integrated or Integral Accounting System: Meaning, Advantages, Limitations, Features, and Preequisites, Procedure of Recording under Integral Accounting System. Reconciliation of Cost and financial Accounts: Need for reconciliation. The reasons for differences in profit under financial and cost accounting systems and the procedure of preparation of reconciliation statement for profit under financial and cost accounting systems and Preparation of Memorandum Reconciliation Account, Accounting for Management Information and Cost Control

Learning Outcomes:

1. Understand the Concept of Cost Accounting or Cost Control System
2. Understand the Non-Integral System and Integral Accounting System.
3. Understand the concept of Memorandum Reconciliation Account.

Comm2021: PRINCIPLES OF ECONOMICS I

 

• COURSE OBJECTIVES: The objective of this course is to acquaint the students with the basic principles of Economics. Students will understand theories and principles in microeconomics including price theory, market structure, factor markets, consumer theory, selected macroeconomic principles etc. Apply these principles to analyze economic issues. By studying both microeconomics (the behavior of consumer and companies) and macro-economic(large-scale economic factors, such as national production, employment, inflation and interest rates), they will learn to think like an economist and understand how a modern market economy functions.
• COURSE TEACHES:
• Unit 1: Demand-Supply Framework & Equilibrium

This unit includes- Elementary concept, Demand and Supply, Elasticity of Demand and Supply and Consumer Theory.

COURSE OUTCOMES:

Studying demand and supply, elasticity of demand and supply, and consumer theory in the context of business statistics and mathematics provides essential knowledge and skills for understanding market dynamics, consumer behavior, and pricing strategies. Here are the specific course outcomes typically associated with these topics:

1. Demand and Supply: Mastery of the concepts of demand and supply and their interaction to determine market equilibrium, essential for analyzing pricing strategies and market behavior in business settings.
2. Factors Influencing Demand and Supply: Knowledge of factors such as price, income, preferences, technology, and government policies that influence demand and supply, enabling accurate forecasting and strategic decision-making.
3. Market Equilibrium Analysis: Ability to analyze shifts in demand and supply curves and their implications for market equilibrium, helping businesses anticipate changes in market conditions and adjust strategies accordingly.
4. Application in Business Decision-making: Applying demand and supply analysis to make informed decisions regarding production levels, pricing strategies, inventory management, and resource allocation in business operations.
5. Elasticity of Demand and Supply: Price Elasticity of Demand: Proficiency in calculating and interpreting price elasticity of demand to assess consumer responsiveness to price changes, crucial for pricing decisions and revenue management in business.
6. Income and Cross Elasticity: Understanding income elasticity of demand and cross-price elasticity of demand to evaluate how changes in income and prices of related goods affect consumer behavior and market outcomes.
7. Elasticity and Revenue Maximization: Applying elasticity concepts to maximize revenue by setting optimal prices and understanding the impact of price changes on total revenue, enhancing profitability in business operations.
8. Consumer Theory(Utility Theory): Mastery of utility theory to analyze consumer preferences and decision-making processes, essential for understanding consumer behavior and designing marketing strategies that appeal to target markets.
9. Indifference Curve Analysis: Proficiency in indifference curve analysis to illustrate consumer preferences and derive demand functions, aiding in pricing strategies, product differentiation, and market segmentation.
10. Budget Constraint Analysis: Understanding the budget constraint and consumer equilibrium to determine optimal consumption bundles and assess affordability and purchasing decisions in consumer markets.

• Unit 2: Production and Cost

This unit includes- Production and cost structure of firm.

COURSE OUTCOMES:

Studying production and cost analysis in the context of business statistics and mathematics provides essential knowledge and skills for understanding efficiency, profitability, and decision-making in production processes. Here are the specific course outcomes typically associated with this area:

1. Production Analysis: Production Functions: Mastery of production function concepts such as total product, average product, and marginal product, essential for analyzing productivity and output levels in manufacturing and service industries.
2. Short-run and Long-run Production: Understanding the distinction between short-run and long-run production decisions, including the implications for resource allocation, capacity planning, and cost management in business operations.
3. Economies and Diseconomies of Scale: Knowledge of economies of scale (increasing returns to scale) and diseconomies of scale (decreasing returns to scale) in production, enabling businesses to optimize production processes and achieve cost efficiencies.
4. Production Efficiency: Applying production analysis techniques to evaluate production efficiency, identify bottlenecks, and implement improvements to enhance productivity and competitiveness in business operations.
5. Cost Analysis: Cost Concepts: Proficiency in understanding cost concepts such as total cost, fixed cost, variable cost, average cost, and marginal cost, crucial for cost estimation, pricing strategies, and profitability analysis in business.
6. Cost Behavior: Analyzing cost behavior patterns (e.g., fixed vs. variable costs) to forecast expenses, budget effectively, and make informed financial decisions in business planning and operations.
7. Cost-Volume-Profit (CVP) Analysis: Applying CVP analysis to assess the relationship between costs, volume of production or sales, and profit, aiding in break-even analysis, pricing decisions, and financial performance evaluation.
8. Cost Minimization Strategies: Using cost analysis to identify cost drivers, implement cost reduction strategies, and optimize resource allocation to achieve cost minimization and improve profitability in business operations.

• Unit 3: Market Structure

This unit includes- Classification of markets, Perfect competition and Monopoly.

COURSE OUTCOMES:

Studying the classification of markets, perfect competition, and monopoly in business statistics and mathematics provides crucial insights into market structures, pricing strategies, and economic efficiency. Here are the specific course outcomes typically associated with these topics:

1. Classification of Markets: Understanding Market Structures: Mastery of different market structures such as perfect competition, monopoly, oligopoly, and monopolistic competition, including their characteristics, behavior of firms, and implications for market outcomes.
2. Market Equilibrium Analysis: Ability to analyze market equilibrium under various market structures, including price determination, output levels, consumer surplus, producer surplus, and economic efficiency.
3. Impact of Market Structure on Business Strategy: Knowledge of how market structure influences business strategy, including pricing decisions, product differentiation, entry barriers, and competitive positioning in the market.
4. Perfect Competition: Characteristics and Assumptions: Proficiency in understanding the characteristics and assumptions of perfect competition, such as a large number of buyers and sellers, homogeneous products, perfect information and free entry and exit.
5. Price and Output Determination: Ability to analyze how price and output are determined in a perfectly competitive market through the interaction of supply and demand forces, maximizing social welfare and consumer surplus.
6. Efficiency Analysis: Understanding the efficiency of perfect competition in resource allocation, productive efficiency (minimum average cost), allocative efficiency (P = MC), and dynamic efficiency (innovation and technological progress).
7. Monopoly: Characteristics and Behavior: Mastery of monopoly characteristics, including a single seller, unique product, high barriers to entry, and significant market power, influencing pricing strategies and market outcomes.
8. Price and Output Determination: Ability to analyze how a monopolist determines price and output level to maximize profit, compared to competitive markets, and the implications for consumer welfare and economic efficiency.
9. Regulation and Antitrust Policies: Understanding regulatory issues and antitrust policies aimed at controlling monopoly power, promoting competition, and ensuring fair market practices in business and economic policy.

• Unit 4:Selected Macroeconomic Principles

This unit includes- Introduction to macroeconomic variables and fiscal policy

COURSE OUTCOMES:

Here are some specific course outcomes related to selected macroeconomic variables typically covered in a Principles of Economics course:

 

1. Gross Domestic Product (GDP): Define GDP and its components (consumption, investment, government spending, net exports). Calculate GDP using different approaches (expenditure approach, income approach). Interpret changes in GDP over time and across countries.
2. Inflation: Define inflation and distinguish between different types (e.g., demand-pull, cost-push). Explain how inflation is measured (e.g., CPI, GDP deflator). Analyze the causes and consequences of inflation on consumers, businesses, and the economy.
3. Unemployment: Define unemployment and its types (e.g., frictional, structural, cyclical). Discuss how unemployment is measured (e.g., unemployment rate, labor force participation rate). Analyze the factors contributing to unemployment and evaluate policies to reduce unemployment.
4. Aggregate Demand and Aggregate Supply: Explain the concepts of aggregate demand (AD) and aggregate supply (AS). Illustrate how AD and AS determine the equilibrium level of output and prices in the economy. Analyze the factors that shift AD and AS curves and their implications for the economy.
5. Fiscal Policy: Define fiscal policy and distinguish between discretionary and automatic stabilizers. Analyze the tools of fiscal policy (e.g., government spending, taxation) and their impact on the economy. Evaluate the effectiveness and limitations of fiscal policy in achieving macroeconomic objectives.
6. Monetary Policy: Define monetary policy and explain how it is conducted by central banks. Discuss the tools of monetary policy (e.g., open market operations, discount rate, reserve requirements). Analyze the impact of monetary policy on interest rates, inflation, and economic activity.

• Unit 5:Money in a Modern Economy

This unit includes- Concepts and Measures of Money, Inflation and unemployment and Measures to control Inflation

COURSE OUTCOMES:

1. Concepts and Measures of Money: Define money and distinguish between different types of money (e.g., M1, M2). Explain the functions of money in the economy (medium of exchange, unit of account, store of value). Analyze the factors influencing the demand for and supply of money.
2. Inflation: Define inflation and distinguish between inflationary and deflationary periods. Explain how inflation is measured (e.g., CPI, GDP deflator). Analyze the causes and consequences of inflation on individuals, businesses, and the economy as a whole.
3. Unemployment: Define unemployment and its types (e.g., frictional, structural, cyclical). Discuss how unemployment is measured (e.g., unemployment rate, labor force participation rate). Analyze the factors contributing to unemployment and the implications for economic stability and welfare.
4. Measures to Control Inflation: Identify and explain various monetary policy tools used to control inflation (e.g., open market operations, reserve requirements, discount rate). Discuss the goals and challenges of using monetary policy to achieve price stability. Evaluate the effectiveness of monetary policy in controlling inflation under different economic conditions.
5. Phillips Curve Analysis: Describe the Phillips curve and its relationship between inflation and unemployment. Analyze the trade-offs and policy implications suggested by the Phillips curve. Evaluate the role of expectations and supply-side factors in shaping the Phillips curve dynamics.
6. Supply-Side Policies: Discuss supply-side policies aimed at reducing inflationary pressures (e.g., improving productivity, reducing costs). Analyze the long-term implications of supply-side policies on economic growth and inflation.
7. Role of Central Banks: Explain the role of central banks in controlling inflation through monetary policy. Discuss the independence of central banks and its importance in achieving credible inflation targets. Evaluate the effectiveness of central bank communication and transparency in managing inflation expectations.
8. Comparative Analysis of Inflation Control Strategies: Compare and contrast different approaches to controlling inflation (e.g., monetary policy vs. fiscal policy). Analyze case studies of countries implementing successful inflation control strategies. Discuss the trade-offs involved in choosing between inflation control and other macroeconomic objectives.
9. Global Perspectives on Inflation and Unemployment: Discuss how inflation and unemployment are interconnected globally. Analyze the impact of international trade and financial flows on inflation and unemployment. Evaluate the role of international organizations in coordinating policies to address global economic challenges.

 

Comm2031: FUNDAMENTALS OF MANAGEMENT

Objectives:

Understanding the basic concepts and various functions of managemcnt, Creating awareness among the students about the application of management principles in business  organizations.

Learning Outcomes:

1. The students will be able to understand and identify the management principles and practices which are relevant in the business environmental context.
2. The students will be able to apply the acquired knowledge in managerial functions.

Units 1: Introduction to Management

Meaning and Definition, Nature, Characteristics, Scope, Levels of Management, Administration Vs. Management, Essence of Management, Evolution of management thought: contributions of F.W. Taylor and Henry Fayol.

Learning Outcomes:

1. To acquire conceptual knowledge of the business management 
2. To emphasis integrating, applying and reinforcing the knowledge, skills and attitudes developed in other courses.
3. Understand the different theories of management and also the evolution of management.

Units 2: Planning

Meaning and Definition, Characteristics of Planning. Importance and Benefits of Planning, Steps and Planning, Types of Planning, Limitations of Planning, Decision making (concept only)

Learning Outcomes:

1. Understanding the Meaning of Planning,
2. Role of planning in organization and different types of planning.
3. Understanding the Concept of Decision making

Units 3: Organising

Concept and process of organizing, Span of management, Different types of authority (line, staff and functional), Decentralization, Delegation of authority, Formal and Informal Structure, Principles of Organising.

Learning Outcomes:

1. Explain how organizations adapt to an uncertain environment and identify techniques which managers use to influence and control the internal environment.
2. Understanding the Concept of Decentralization, Delegation of authority

Units 4: Staffing, Directing and Controlling

1. Staffing: Concept, Process.
2. Directing: Meaning, Nature, Significance, Principles and Techniques
3. Motivation: Concept, Importance, Motivation theories: Maslow's Need-Hierarchy Theory, Hertzberg's Two-factor Theory
4. Leadership: Concept, Importance, Qualities of a good leader, Types of Leadership styles
5. Controlling.

Learning Outcomes:

1. Demonstrate knowledge of the theories, concepts and findings of the Faculty specializations 
2. Discuss and communicate the management evolution and how it will affect future managers. 
3. Strategic and critical thinking in relation to business and commerce related issues. 
4. Observe and evaluate the influence of historical forces on the current practice of management. 
5. Identify and evaluate social responsibility and ethical issues involved in business situations and logically articulate own position on such issues. 
6. Explain how organizations adapt to an uncertain environment and identify techniques managers use to influence and control the internal environment. 
7. Practice the process of management's four functions: planning, organizing, leading, and controlling. 
8. Identify and properly use vocabularies within the field of management to articulate one's own position on a specific management issue and communicate effectively with varied audiences. 
9. Evaluate leadership styles to anticipate the consequences of each leadership style.
10. Gather and analyze both qualitative and quantitative information to isolate issues and formulate best control methods.

 

Comm2051: COMPUTER APPLICATIONS IN BUSINESS

Objectives:

To help students to acquire computer knowledge and skills and enhance the student's understanding of the usefulness of information technology tools for business and develop a clear understanding of the application of computers in business operations.

Learning Outcomes: After completion of the course, learners will be able to:

1. Describe the various concepts and terminologies used in conmputing, computer networks and the internet.
2. Develop basic computer skills.
3. understand basic concepts of DBMS

Unit 1: Computer Basics

a) Definition and Characteristics of Computer. Generations of computers. CPU organization and architecture: Arithmetic/Logic Unit (ALU), Control Unit (CU)

b) ROM. Memory organization: Memory representation, Cache memory, Primary memory Functions of RAM and ROM. Different types of RAM and ROM. Secondary memory - Magnetic RAM and and optical storage devices (a brief description of different types).

c) Input and Output Devices: Major types and their functions.

Learning Outcomes:

1. Understanding of the basics of computer and its components such as RAM, ROM, ALU, CONTROL UNIT.
2. Understand the different utilities of computer and its devices.

 

Unit 2: Operating System

Concept, types, functions of operating system; Software-Concepts and types of software.

Learning Outcomes:

1. Understand the meaning of softwares and its functions.
2. Understand the different types of softwares.

 

Unit 3: Number System and Binary Arithmetic and Logic Gate

Positional Number Systems –Decimal, Binary, Octal, Hexadecimal; Binary Arithmetic - Addition, Subtraction, Number Representation -One's Complement, Two's Complement. Digital Logic Gates; Truth Table, Logic Diagrams, Simplified Circuits (Half adder, Full adder)

Learning Outcomes:

1. Understand the Number system in computer applications.
2. To learn the logic gates, truth table, binary and decimal number systems.

 

Unit 4: Internet, and Its Applications

Meaning of Internet, IP Address, URL, Domain Name System, Internet Protocols - TCP/IP, UDP, FTP, TELNET [brief ideas only], HTML, DHTML AND XML [Concepts only]

Learning Outcomes:

1. Understand the meaning of IP address, URL, HTML, DHTML AND XML.
2. To learn the application of Internet and its uses.

 

Unit 5: Introduction to DBMS

Concepts of database and database management system (DBMS). Components of database management system (DBMS) Data abstraction. Architecture - three schema architecture. Data models: hierarchical model, network model and relational model.

Learning Outcomes:

1. Understand the Concepts of database and database management system.
2. Understand the Concepts of network model, relational model and Architecture.
3. Understand the Concepts of hierarchical model, network model and relational model

Semester-III

Comm3011-FINANCIAL ACCOUNTING-II

Objective:

The objective of this course is to provide students with an in-depth understanding of advanced topics in accounting, focusing on partnership accounts, hire purchase and Instalment payment systems, accounting for inland branches and departmental accounts, investment accounts, and company accounts.

Learning Outcomes: On successful completion of the course, students will be able to:

1. Apply the accounting principles while recording transactions of Departmental, Hire purchase and Branch Accounts.

2. Understand the principles of accounting for shares.

3. Understand the concepts of Investment Accounting.

Unit 1: Partnership Accounts-II

Accounting for dissolution of firm – Settlement of accounts on Dissolution -Insolvency of one or more partners, Consideration of private estate and private liabilities, Piecemeal distribution Order of payments– surplus capital basis and maximum possible loss basis

Learning Outcomes:

1. To understand the concept of partnership.
2. Learn the accounting for preparation of partnership accounts.
3. Understand the concept of dissolution and their treatment in accounting terms.
4. Learn the ways to Settle the accounts on Dissolution of firm

Unit 2: Accounting for Hire Purchase and Installment purchase

Meaning of Hire Purchase System; Difference with Installment Payment System and Sale; Methods of recording of Hire Purchase Transactions in the books of Buyer and Hire vendor –calculation and allocation of interest in case of Hire Purchase and Installment Payment Systems– use of Interest Suspense account – partial and complete repossession of goods, Termination of Hire Purchase Contract, Entries under Hire Purchase Stock and Debtors Method (with repossession); Entries under H.P. Trading Method (with repossession).

Learning Outcomes:

1. Understand the concept of Hire Purchase System and Installment Payment System
2. Understand the concept of Entries under H.P. Trading Method.
3. Learn the treatment of Entries under Hire Purchase.
4. Understand the concept of partial and complete repossession of goods under Hire Purchase System

Unit 3: Accounting for Inland Branches and Departmental Accounts

Concept of Branch, different types of Branches, Synthetic method – preparation of Branch account (at Cost & at Invoice Price).Preparation of Branch Trading and P/L account– normal and abnormal losses, Analytical method – preparation of Branch Stock, Adjustment Account (at Cost & at IP) – normal & abnormal losses, Independent branch – concept and adjustments; Wholesale profit and retail profit at Branch.

Learning Outcomes:

1. Understand the concept of Branch, Independent branch, Wholesale profit and retail profit at Branch
2. Preparation of branch accounts applying different methods
3. Preparation of Departmental Trading and P/L account, Consolidated Trading and P/L account

Unit-4: Investment Accounts

Meaning, Maintenance of investment ledger, change in the nature of investments, Cum-dividend and Ex–dividend transactions, Cum-interest and Ex-interest transactions. Accounting for investment in fixed interest bearing securities and variable income bearing securities, Securities Transactions Tax (STT)

Learning Outcomes:

1. Understand the concept of Investment ledger.
2. Preparation of Investment Accounts
3. Treatment of Cum-interest and Ex-interest transactions

Unit 5: Company Accounts

Issue of Shares – issue, forfeiture, reissue, issue of shares for consideration other than cash and issue to the promoters; Pro-rata issue of shares. Sweat, Right and Bonus Shares.

Underwriting of shares and debentures: Rules; Determination of Underwriters Liability – with marked, unmarked & firm underwriting accounting

Learning Outcomes:

1. Understand the concept of Shares, Sweat Equity Shares, Right Shares and Bonus Shares
2. Understand the concept of debentures
3. Understand the concept of Underwriting of shares and debentures
4. Preparation of journal entries for issue of shares

 

Comm3012- COST AND MANAGEMENT ACCOUNTING

Objectives

To understand the various methods and techniques involved in cost ascertainment and to be able to analyze and evaluation information for cost planning, control and decision making

Course Outcomes:

 On successful completion of the course, students will be able to:

1. Understand the meaning of Unit costing. Job costing, Batch costing and Contract Costing

2. Elucidate the meaning, objectives, nature, and scope of Process costing and the concept of Joint and Byproducts.

3. Understand the meaning of Marginal Costing, Absorption Costing and Variable Costing.

4. Conduct a Cost-volume-profit analysis 5. Understand the concept of Service or Operating Costing.

Courses teaches-       

Unit 1:   Unit or Output Costing, Job costing and Batch Costing                                                                                               

1. Unit or Output Costing

Meaning, applicability, features and advantages, Methods of preparing cost sheet, Treatment of scrap, Price Quotation or Tenders and preparation of estimated cost sheet

1. Job Costing
2. Meaning of Job Costing

       ·  Principles of Job Costing,

      &