LOVELY PROFESSIONAL UNIVERSITY INSTRUCTION PLAN (for Lectures) Term: 2 Course No.

: MGT 105 Course Title: Financial Accounting L: _4_ T: 1_ P:_0

Textbook: 1.Maheshwari S N, Maheshwari S K (2006), Financial Accounting, Vikas Publishing House Ltd., New Delhi. Other Specific Books: 2. Chapter 12 & 13, Jawahar Lal(2005), Accounting theory,Himalaya Publishers 3. Chapter 4, Khan M Y, Jain, P K (2007), Management Accounting, The McGraw-Hill Companies. 4. Narayanaswami R. (2006), Financial Accounting- A Managerial Persrective, Prentice Hall of India, New Delhi. 5. Horngren, Sundem & Elliott (2006), Introduction to Financial Accounting, 8th Edition, Pearson Education, Prentice Hall of India,New Delhi 6. Chapter 1, 3 & 4, Tulsian, P C (2008), Financial Accounting,2nd Edition, Tata McGraw-Hill Publishing Company Limited, New Delhi. 7. Chapter 1, 2, 7 & 13, Juneja Mohan C., Chawla, R.C., Saksena K.K., Jain, V.K.,(2002), Financial Accounting, Kalyani Publishers 8. Chapter 10, Ashok, (2006) Financial Accounting-A Managerial emphasis, Excel Books. 9. Chapter 11, Porwal, L S (2007), Accounting Theory-An Introduction, Tata McGraw Hill Publishing Company Limited, New Delhi. Other readings: S. No Journal articles as compulsory reading 10. Implementing accounting education change: Bringing accounting graduates into the management mainstream-By Mark E. Steadman, Ronald F. Green, MCB UP Ltd, Volume 10, Issue 3, Pages 3-7, 1995 http://www.emeraldinsight.com/Insight/viewContentItem.do;jsessionid=F356BC808 A0F710D4992E1C0A5820A95?contentType=Article&contentId=868234 11. Robert N. Anthony, Needed: Better Accounting Concepts, Pacific Accounting Review, Volume 11, Issue , Pages 29-34, 1999 Article URL: http://www.emeraldinsight.com/10.1108/eb037923 12. Yoshiaki Jinnai, The Function of Accounting: A Japanese Perspective, Accounting, Auditing and Accountability Journal, Volume 3, Issue 2, Publisher MCB UB Ltd, 1990. URL:www.emeraldinsight.com/10.1108/09513579010137405 13. Lee Brian B, Press Eric, Choi Ben, Capital Assets and Financial statement distortions http://www.emeraldinsight.com/Insight/viewContentItem.do;jsessionid =ECF17A79C7E042512A0EB7FF9915EEBF?contentType=Article&contentId=1669047 Relevant websites: S. No Web address Salient Features 14. http://www.accountingcoach.com/accountingVarious Accounting Terms terms/accounting-dictionary/ 15. www.icai.org The specific link mentioned relates http://www.journal.icai.org/CA/CA/2009/01/01/index.shtml to an e-article of ICAI containing relevant information of the subject of accounting including change of financial statements from Indian GAAP to IFRS.

16. 17. 18.

www.investopedia.com www.ssrn.com www.icsi.edu http://www.icsi.edu/cs/june2006/Articles/Rights%20of % 20 the % 20 Prac.pdf

Contains information about accounting & financial terms Articles and research studies regarding accounting Information regarding preparation of accounts by companies

19. 20.

http://www.emeraldinsight.com /Insight/advancedSearch.do?search Term1=accounting http://www.jstor.org/pss/242147

Articles & journals regarding Financial Accounting Trends in the presentation of Published Accounts

Detailed Plan for Lectures Lecture No. Topic Chapters / Sections of Textbook / Other reference1 1/Chap 1 6/Chap 1 1/Chap 1 6/Chap 1 7/Chap1 6/Chap 1 1/Chap 1 Ref.16 Ref.14 2/Chap 1 1/Chap 1 1/Chap 2 4/Chap 2 1/Chap 2 7/Chap 2 Assignment / Task to be assigned to students 3 DoS4 Pedagogical aid Demonstration/ case study / images/ animations etc5. Date Delivered2

1 2

Book-keeping & its importance Accounting-Meaning & Importance Difference between Bookkeeping & Accountancy Accounting Terminology Accounting Terminology Accounting as an information system Accounting Concepts Accounting Conventions Difference between concept, Convention & Principles

-Case study5/McDonalds -Video covering Basics

3 4 5 6 7 8 9

10 11 12 13

Accounting Cycle Branches of accounting & their interrelationships Changing role of accountant in profession Accounting equation

7/Chap 1 6/Chap 1 1/Chap 1 6/Chap 1 1/Chap 1 10. 6/Chap 3 7/Chap 2 6/Chap 1

Video on expanding accounting equation

14

15 16

17 18 19 20 21 22 23 24 25

Double Entry System of Accounting; Types of accountsNature; Rules of debit and credit Introduction to Journal& method of recording transactions in Journal Special cases regarding journal: Compound Journal entry; Opening Entry; Transactions Regarding Bad Debts Introduction to Ledger Posting; Rules regarding Ledger Posting Preparation of Ledger Accounts; Balancing of an Account Difference between Journal & Ledger Preparation of Subsidiary books, Recording of non cash transactions Preparation of cash bookSingle column, Double Column Preparation of Triple Column cash book; Contra entry; Banking transactions Petty Cash book; Imprest System of Petty Cash Trial Balance- Objectives and Limitations; Preparation of Trial Balance Different types of errors disclosed and not disclosed by Trial Balance

1/Chap 3 1/Chap 3

1/Chap 4 1/Chap 4 6/Chap 4 1/Chap 5 1/Chap 5 1/Chap 5 1/Chap 5 1/Chap 4 7/Chap 7 7/Chap 7

2 Case study5/ Hassan Used Auto Company 3

Case study4/ Kapoor Software Ltd

Mid Term Exams

26 27 28

29 30 31

32 33 34 35 36

Capital & Revenue items Identification of capital & Revenue items Bank Pass Book; Causes of Difference in Cash Book and Bank Pass Book Preparation of Bank Reconciliation statement Preparation of Bank Reconciliation statement Concept of Depreciation; causes and features; Objectives of providing Depreciation Methods of computing Depreciation Methods of computing Depreciation Depreciation of Different Assets Preparation of Final Accounts-Trading Account Preparation of Final AccountsProfit & Loss Account

1/Chap 9 1/Chap 9 1/Chap 7 Case study4/EIH Ltd

1/Chap 7 1/Chap 7 1/Chap 13

1/Chap 13 1/Chap 13 1/Chap 13 1/Chap 10 -Case study4/Moneycar e Company -Video on Financial statements

1/Chap 10

37

Preparation of Final AccountsManufacturing A/c.

1/Chap 10

38

Preparation of Balance sheet

1/Chap 10

-Case Study4/ Nestle India Ltd -Video on Balance sheet

39

Practice of preparation of Balance sheet Adjustment Entries in Final Accounts Adjustment Entries in Final Accounts Adjustment Entries in Final Accounts Types of corporate financial statements, their nature and attributes. Uses of Corporate financial statements, Corporate Governance Specific issues in Corporate reporting Disclosure requirements Recent trends in the presentation of published accounts Recent trends in the presentation of published accounts

1/Chap 10

1/Chap 10 1/Chap 10 7/Chap 13 1/Chap 10 7/Chap 13 3/Chap 4 8/Chap 10 3/Chap 4 8/Chap 10

40 41 42 43

6 Video on Financial statements 7 Corporate reports of Reliance Industries Ltd.

44

45 46 47 48

2/Chap 13 3/Chap 4 2/Chap 13 9/Chap 11 3/Chap 4 Ref.20 8

Additional material for spill over (for at least 2XL lectures) 1. Use of Financial statements 8/Chap 10

Case Study: JCT Electronics Ltd.

2. 3. 4. 5. 6. 7. 8.

Revising content material relating to Journal & Ledger Revising content relating to Trial Balance Revision of Subsidiary Books Revision of Bank Reconciliation statement Revision of Depreciation Accounting Revision of Final Accounts Revision of content relating to Corporate Financial Statements Notes: 1. Use S. No of the reading above 2. To be filled in on the date of delivery of lecture by the instructor 3. Put assignment number from Assignment Table (below) against the lecture in which planned to be assigned (by co-ordinator). 4. To be filled in on the date of assignment (by the instructor) 5. Do not write Lecture, OHP, LCD projector etc. Nature of Assignment Quantitative with Assignment based Test Quantitative with Assignment based Test Quantitative with Assignment based Test Quantitative with Assignment based Test Quantitative with Assignment based Test Quantitative with Assignment based Test Analytical Submission Analytical Submission with Group Presentation Expected outcome Skill development in accounting Skill development in accounting Skill development in accounting Skill development in accounting Skill development in accounting Skill development in accounting Gaining insight about the use of financial statements Learning how to interpret the financial statements

Details of Assignments Planned: Assignment Details No. 1 Numerical problem related to Journal Book 2 3 4 5 6 7 8 Numerical problem related to preparation of Ledger and Trial Balance Numerical Problem related to Subsidiary Books Numerical problem related to Bank Reconciliation Statement Numerical problem related to Depreciation Accounting Numerical problem relating to Final Accounts Use of Financial statements as control tool

Analysis & Interpretation of Published accounts of any corporate house(Group Assignment) Term paper to be allotted by lecture no. 7

Due date of term paper:2 wks before the close of term

Scheme of CA: (out of 100) Component Frequency Marks out of 100 Attendance 10 Home work based tests / quizes Assignments 8 72 Term paper 1 18 List of suggested topics for term paper: S. No Topic 1. Preparation of the Financial statements including Manufacturing Account of a Manufacturing house selecting a product of your choice. (This term paper can be given to any number of students by changing the data for each student) 2. Advances in Accounting education 3. Can Investors detect frauds using financial statements? 4. Causes of Distortions in Financial Statements 5. Use of ERP in Accounting information & management 6. Importance of qualitative research in accounting 7. Investor protection through administrative enforcement of disclosure requirements 8. The Individual investors perceptions involving the usefulness of Audited financial statements (After the Satyam Scam) 9. The relevance & explanatory power of Balance Sheet 10. Corporate Governance issues in Indian corporate houses. 11. The impact of Financial reporting standards: Does size of the firm matters? 12. The importance of ethics in Accounting 13. Negative perceptions of the Accounting professions among accounting students 14. Computers in Accounting Education 15. The changing face of the Annual Report Proposed changes from the standard pedagogy for the course:

__________________________________________________ Prepared by ( instructional planner: Name, Signature & date)

Comments of HOFD (Chief Academic Officer) Signature & Date Comments of Dean of Faculty Signature & Date

Report
Lectures: - (to be filled by the instructor and submitted at the end of term of HOS through HOD) S. No Innovation introduced [ New pedagogy, new demonstration, case study, teaching aid, etc. NOT part of the instructional Plan Topic and lecture number where introduced

General Comments of the Instructor about the suitability of IP

Conduct of Tutorials Tutorial No. Date Topics covered in the Tutorial Activities (like quiz, case study, doubt clearing, any other)

Syllabus coverage report Syllabus coverage by one week before MTE Satisfactory / Lagging by ___ lectures. Syllabus coverage by two week before ETE Satisfactory / Lagging by ___ lectures. ________________________ Signature of Instructors & date

____________________ Signature of HOD & date