University of Mumbai, MMS, First Year, First SemesterSyllabusFINANCIAL ACCOUNTING100 Marks (15 Sessions of 3 Hours Each)
S. No.
Particulars
Sessions
1)
Introduction to Accounting
Concept and Necessity of Accounting
An Overview of Income Statement and Balance Sheet.
1
2)
Introduction and Meaning of GAAP
Concepts of Accounting
Impact of Accounting
Concepts on Income Statement and Balance Sheet.
1
3)
Accounting Mechanics
Process leading to Preparation of Trial Balance and Financial Statements
Preparation of Financial Statements with Adjustment Entries
2
4)
Revenue Recognition and Measurement
Capital and Revenue Items
Treatment of R & D Expenses
Preproduction Cost
Deferred Revenue Expenditure etc.
1
5)
Fixed Assets and Depreciation Accounting
Evaluation and Accounting of Inventory.
1
6)
Preparation and Complete Understanding of Corporate Financial Statements
‘T’ Form and Vertical Form of Financial Statements
2
7)
Important Accounting Standards
1
8)
Corporate Financial Reporting – Analysis of Interpretation thereof with reference to Ratio Analysis. Fund Flow, Cash Flow.
Corporate Accounting
Accounting of Joint Stock Companies: Overview of Share Capital and Debentures, Accounting for Issue and Forfeiture of Shares, Issue of Bonus Share. Issue of Debentures, Financial Statements of Companies: Income Statement and Balance Sheet in Schedule VI. Provisions of the Companies Act: Affecting preparation of Financial Statements, Creative Accounting, Annual Report, Presentation and Analysis of Audit Reports and Directors Report. (Students should be exposed to reading of Annual Reports of Companies both detailed and summarized version).
3
9)
Inflation Accounting and Ethical Issue in Accounting
1
10)
Case Studies and Presentations
2
UOM2015/MMS/1/02
Specific References
EAN13
9789386232731
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