Syllabus
Master of Commerce
(Honours School-Five Year Integrated Course)-Part-III under CBCS 
Semester V & VI
For  2017-18 & 2018-19
Semester V

CORE PAPER
							          Theory 	     Internal            Credit
									   Assessment
MFY	5.1	Management Accounting			70		30 		5
MFY	5.2	Entrepreneurship Development  		70		30 		5
		Programme		
MFY 	5.3	Principles & Practice of Insurance		70		30 		5
MFY	5.4	Seminar  					                        50	            3

ELECTIVE PAPER (ANY ONE)
Option-I  MFY  5.5 (i) E- Commerce		        70	        30	          5
Option-II MFY 5.5 (ii) E- Banking & Risk 	        70	        30	          5
			   Management 	

Semester VI

CORE PAPER
				
MFY	6.1		Financial Management 		70		30 		5
MFY	6.2		Auditing		 		70		30 		5
MFY 	6.3		Indian Financial System		70		30 		5
MFY	6.4		Functional Management		70		30 		5
MFY   6.5		Viva-Voce						50		2
ELECTIVE PAPER (ANY ONE)
Option-I  MFY  6.6(i)    Workshop on Accounting &		         50	         3 
			     Auditing Standards 
Option-II MFY      (ii)   Workshop on International 
		Financial Reporting Standards		        50    	         3   

(2017-2018 & 2018-2019)
Syllabus of M.Com. (Honours School- FYIC)  Part-III( Vth  semester)

Time Allowed: 3 Hrs.						Internal Assessment   :   30 Marks
Lectures delivered: 60						External Assessment  :   70 Marks
								Credit		          :     5 	  

PAPER MFY  5.1:  Management Accounting

Instructions for Paper Setter/Examiners
The question paper will consist of three sections. Section A and B (Consist of unit I and II of the syllabus, respectively) will have four questions each from respective units and candidates are required to attempt two questions each from section A and B. Each question in section A and B shall carry 10 marks. Section C will consist of 12 short answer type questions covering entire syllabus and the candidates are required to attempt any ten questions.  Each question  in section C will carry 3 marks. 

UNIT-I

	Management Accounting: Meaning, nature, scope and functions of Management Accounting; Management Accounting vs. Financial Accounting; Financial Statements; Meaning and types of Financial Statements; Limitations of Financial Statements; Objectives and methods of Financial Statements Analysis. 

	Comparative Statements, Common size statements and Trend analysis/Ratio analysis; Classification of Ratios: Profitability ratios, Turnover ratios, Liquidity ratios, Solvency ratios; Advantage and Limitations of Ratio Analysis. Cash Flow Statement. 

Unit-II

	Absorption and Marginal Costing: Marginal and differential costing as a tool for decision making Break-even analysis. Meaning of Budget and Budgetary control; Objectives; Merits and Limitations; Types of Budgets; Fixed and flexible budgeting. 

	Standard Costing: Meaning, Significance and types of standards difference between standard costing and budgetary control; Variance analysis & material, labour and overhead variances.  

(2017-2018 & 2018-2019)
Syllabus of M.Com. (Honours School- FYIC)  Part-III( Vth  semester)

Time Allowed: 3 Hrs.						Internal Assessment   :   30 Marks
Lectures delivered: 60						External Assessment  :   70 Marks
								Credit		          :     5 	  

PAPER MFY  5.2 : Entrepreneurship development programme

Instructions for Paper Setter/Examiners
The question paper will consist of three sections. Section A and B (Consist of unit I and II of the syllabus, respectively) will have four questions each from respective units and candidates are required to attempt two questions each from section A and B. Each question in section A and B shall carry 10 marks. Section C will consist of 12 short answer type questions covering entire syllabus and the candidates are required to attempt any ten questions.  Each question  in section C will carry 3 marks. 

UNIT-I
	Introduction to Entrepreneurship: Meaning of Entrepreneur and Entrepreneurship, role of Entrepreneurs in economics development, Entrepreneurial behaviour, Entrepreneurial Culture and its determinants, Entrepreneurs and Intrapreneurs, Factors effecting growth and Entrepreneurship, Entrepreneurial Characteristics/ Traits. 

	Entrepreneurial Motivation: Maslow's need hierarchy theory, McClleland's: Theory of needs achievement, Kakinada experiments and Training for development of achievement motivation. 
	Management Skills: Knowledge of Finance, Production, Marketing and Human Resources. 

Unit-II

	Support system and procedures: Different types of support for entrepreneur from various Govt. and Semi Govt. Institutions, Govt. Policies for promotion of entrepreneurship, Business Incubation and Business Clusters, Entrepreneurship Development Programmes, Financial Support, Marketing Assistance, Common Facilities and quality promotion support. 

	Fundamentals of Project Report and feasibility study: Sources of Business Idea, collection of data & preparation of project Report, Feasibility analysis, Technical, Financial and Economic Feasibility, Social aspects.  

(2017-2018 & 2018-2019)
Syllabus of M.Com. (Honours School- FYIC)  Part-III( Vth  semester)

Time Allowed: 3 Hrs.						Internal Assessment   :   30 Marks
Lectures delivered: 60						External Assessment  :   70 Marks
								Credit		          :     5 	  

PAPER MFY  5.3      : Principles & Practice of Insurance

Instructions for Paper Setter/Examiners
The question paper will consist of three sections. Section A and B (Consist of unit I and II of the syllabus, respectively) will have four questions each from respective units and candidates are required to attempt two questions each from section A and B. Each question in section A and B shall carry 10 marks. Section C will consist of 12 short answer type questions covering entire syllabus and the candidates are required to attempt any ten questions.  Each question  in section C will carry 3 marks. 

Unit-I
	Introduction of Insurance: Meaning, evolution, scope, nature and significance of insurance; Insurance as social security tool, Insurance as an investment tool, Insurance as a measure of financing business, Insurance as a protection to property; Insurance and economic development; Principles of insurance; Segments of insurance–life insurance, non-life insurance. 

	Life Insurance Products: Introduction, Traditional insurance products-Term, Endowment, Whole life; Various Life Insurance Policies of Different Insurance Companies; ULIPs: Unit Linked Life Insurance Products, Annuity Policy. 

	General Insurance Products: Introduction, Classification of Products; Reinsurance: Characteristics, Types, Growth of reinsurance in India.	
Unit -II
	Growth and Development of Insurance business with special reference to India, Rationale for opening up of the Insurance to Private Sector, Emerging Scenario in Insurance Sector, Major Insurance Players in India,  LIC, GIC, ICICI Prudential, HDFC Standard Life, ICICI Lombard, HDFC ERGO General Insurance company. 
 
	Insurance Regulations in India: IRDA, its objectives and functions; IRDA Regulation 2000 (Obligations of Insurers to Rural or Social Sectors); IRDA Regulation 2000 (Insurance Advertisements and Disclosure); IRDA Regulation 2000 (Licensing of Insurance Agents); IRDA(Protection of Policy Holders Interest). 

	Insurance Intermediaries: Agents and Procedure for becoming an Agent, Pre requisite for obtaining a license, Duration of license, Cancellation of license, Revocation/ suspension/ termination of agent's appointment; Code of conduct, Unfair practices. Procedure regarding settlement of policy claims. 

(2017-2018 & 2018-2019)
ELECTIVE PAPER
OPTION-I
Syllabus of M.Com. (Honours School- FYIC)  Part-III( Vth  semester)

Time Allowed: 3 Hrs.						Internal Assessment   :   30 Marks
Lectures delivered: 60						External Assessment  :   70 Marks
								Credit		          :     5 	  

PAPER MFY  5.5 (i) : E-Commerce 

Instructions for Paper Setter/Examiners
The question paper will consist of three sections. Section A and B (Consist of unit I and II of the syllabus, respectively) will have four questions each from respective units and candidates are required to attempt two questions each from section A and B. Each question in section A and B shall carry 10 marks. Section C will consist of 12 short answer type questions covering entire syllabus and the candidates are required to attempt any ten questions.  Each question  in section C will carry 3 marks. 

UNIT-I
	Concept and features of e-commerce, practices vs traditional practices; scope and limitations of e-commerce.
Models of e-commerce : B2B, B2C, C2B and C2C, e-distributors, procurement and just-in-time delivery. 
	Business to Consumer e- commerce: Cataloguing, order planning and order generation, cost, estimation and pricing, order receipt and accounting order selection and prioritization, order & scheduling, order fulfilling and delivery, order billing and payment management, post sales services, On line marketing and advertising.

Unit-II

	Online Payment Mechanism:  Electronic payment systems, Types of e-payment systems: e-cash e-cheques, credit cards, smart cards, electronic purses and debit cards, risk management options in e-payment system. 

	Technology for Online Business: Internet, Internet Architecture, infrastructure, internet addressing domain name, key components of network. 

	Security in e-Commerce: Introduction, threats of internet security, Types of Threats, security system on Internet, Law relating to E-commerce. Taxation issues on internet, salient feature of IT Act 2000. 

(2017-2018 & 2018-2019)
Syllabus of M.Com. (Honours School- FYIC)  Part-III (Vth semester)

ELECTIVE PAPER
OPTION-II

Option II-  Paper : MFY 5.5 (ii) E-Banking &  Risk Management
Teaching Hours per week: 5					Internal Assessment      : 30
Time Allowed : 3 Hrs.						External  Assessment    : 70
								Credit			: 5

Instructions for Paper Setter/Examiners
The question paper will consist of three sections. Section A and B (Consist of unit I and II of the syllabus, respectively) will have four questions each from respective units and candidates are required to attempt two questions each from section A and B. Each question in section A and B shall carry 10 marks. Section C will consist of 12 short answer type questions covering entire syllabus and the candidates are required to attempt any ten questions.  Each question  in section C will carry 3 marks. 
UNIT –I
	Electronic Banking: Traditional Banking Vs E-Banking; Facets of E-Banking;   E-Banking transactions; truncated cheque and Electronic cheque;   Models for E-banking; complete centralized solution- features of CCS-Cluster approach and Hi tech. approach, Bank within Banks Advantages of E-Banking, Constraints in E-Banking. Online Banking:  Concept and meaning, electronic delivery channels, need for computerization; Automatic Teller Machine(ATM); Electronic Fund Transfer; Telebanking. 
UNIT –II
	Risk Management : Types of Risks in Banks, Risk Management  Framework in Banks: Enterprise wide Risk Management in Banks; Elements of Risk Management Framework; Systematic Risk Management  in Banks, Different Measures of Measuring  Risks; Risk Management process and Techniques for Assessment and Management,. Asset liability Management in Banks, Role of RBI in managing risk. 

(2017-2018 & 2018-2019)
Syllabus of M.Com. (Honours School- FYIC)  Part-III( VIth  semester)

Time Allowed: 3 Hrs.						Internal Assessment   :   30 Marks
Lectures delivered: 60						External Assessment  :   70 Marks
								Credit		          :     5 	  

PAPER MFY  6.1 : Financial Management 

Instructions for Paper Setter/Examiners
The question paper will consist of three sections. Section A and B (Consist of unit I and II of the syllabus, respectively) will have four questions each from respective units and candidates are required to attempt two questions each from section A and B. Each question in section A and B shall carry 10 marks. Section C will consist of 12 short answer type questions covering entire syllabus and the candidates are required to attempt any ten questions.  Each question  in section C will carry 3 marks. 

UNIT-I
Financial Management: Financial goals; Profit vs. wealth maximization; Finance functions: investment, financing, and dividend decisions. Capital budgeting: Nature of Investment decisions, investment evaluation criteria: payback period accounting  rate of return, net present value, internal rate of return, profitability index.

Cost Capital: Concept and Significance; Calculating cost of debt, preference capital, equity capital and retained earnings; combined (weighted average) cost of capital, Capital Structure Theories: NI, NOI, and Traditional & MM approach; Factors determining capital structure. 

Unit-II

Operating and financial Leverage: Their measure: Effects on profit, analyzing alternate financial plans. 

Dividend Policies: Issues in Dividend Policies: Walter's model: Gordon's model: M.M. Hypothesis, Forms of dividends and Determinants of dividend policy. 

Working Capital : Nature and significance of working capital, operating cycle and factors determining working capital requirements; A brief overview of Cash management, Inventory management and Receivable Management.    

(2017-2018 & 2018-2019)
Syllabus of M.Com. (Honours School- FYIC)  Part-III( VIth  semester)

Time Allowed: 3 Hrs.						Internal Assessment   :   30 Marks
Lectures delivered: 60						External Assessment  :   70 Marks
								Credit		          :     5 	  

PAPER MFY  6.2      : Auditing

Instructions for Paper Setter/Examiners
The question paper will consist of three sections. Section A and B (Consist of unit I and II of the syllabus, respectively) will have four questions each from respective units and candidates are required to attempt two questions each from section A and B. Each question in section A and B shall carry 10 marks. Section C will consist of 12 short answer type questions covering entire syllabus and the candidates are required to attempt any ten questions.  Each question  in section C will carry 3 marks. 

UNIT-I
Auditing:  Introduction and Objectives of auditing; major influences in the field of auditing and its link with accounting, Classes of Audit; Audit process; Audit programme, working papers and evidence; Routine and test checking; internal check and internal audit; Internal control; Distinction between audit and investigation. 

Unit-II

Vouching; Verification of Assets and Liabilities ; Audit of Limited Companies, Appointment, qualification and disqualification of company auditors cieling on number of audit, branch audit, rights, duties and liabilities of company auditor; audit Report.  

(2017-2018 & 2018-2019)
Syllabus of M.Com. (Honours School- FYIC)  Part-III( VIth  semester)

Time Allowed: 3 Hrs.						Internal Assessment   :   30 Marks
Lectures delivered: 60						External Assessment  :   70 Marks
								Credit		          :     5 	  

PAPER MFY  6.3 : Indian Financial System 

Instructions for Paper Setter/Examiners
The question paper will consist of three sections. Section A and B (Consist of unit I and II of the syllabus, respectively) will have four questions each from respective units and candidates are required to attempt two questions each from section A and B. Each question in section A and B shall carry 10 marks. Section C will consist of 12 short answer type questions covering entire syllabus and the candidates are required to attempt any ten questions.  Each question  in section C will carry 3 marks. 

UNIT-I
 Nature and Role of Financial System: Various components of Financial system, Relation between financial system and Economic Growth. 
Indian Financial System: Structure and components of Indian financial system. Development Banks: Concept, objectives, and their role, central and state level Development Banks, Non-Banking Finance Companies: Their role and functions, sources of finance for NBFCs. 
Regulatory Institutions: RBI, NABARD, SEBI, IRDA 

Unit-II

Financial Markets: Capital market, Primary and Secondary market, Instruments and participants in Indian Capital market, Reforms in Indian Capital market. 
Money Market: Instruments, submarkets and participants in Indian money market, Reforms in Indian money market. 
Interest Rate Structure: Determinants of Interest Rates, Differential interest Rates, Recent Changes in Interest Rate Structure.

(2017-2018 & 2018-2019)
Syllabus of M.Com. (Honours School- FYIC)  Part-III( VIth  semester)

Time Allowed: 3 Hrs.						Internal Assessment   :   30 Marks
Lectures delivered: 60						External Assessment  :   70 Marks
								Credit		          :     5 	  

PAPER MFY  6.4      : functional management 

Instructions for Paper Setter/Examiners
The question paper will consist of three sections. Section A and B (Consist of unit I and II of the syllabus, respectively) will have four questions each from respective units and candidates are required to attempt two questions each from section A and B. Each question in section A and B shall carry 10 marks. Section C will consist of 12 short answer type questions covering entire syllabus and the candidates are required to attempt any ten questions.  Each question  in section C will carry 3 marks. 

UNIT-I
Personal Function: Importance, organisation of Personal Department, Manpower planning, recruitment and selection, Training and Development, Placement, Promotion and Transfer, Performance Appraisal; Wage and Salary administration. 

Unit-II

Marketing Function: Modern Marketing concept Marketing Mix chracterised by product, pricing promotion and distribution strategies, Marketing research.
Major problems of Production Management, Production Planning and Control, Materials management: Purchasing management, issues and concepts of inventory control. Financial Planning and Control; Types and Source of Finance.    

 

(2017-2018 & 2018-2019)
Syllabus of M.Com. (Honours School- FYIC)  Part-III( Vth  semester)
ELECTIVE PAPER
OPTION-I

Lectures delivered :  60							Internal Assessment : 50 marks
									Credit		        :  3		

PAPER MFY  6.5 (i)     : Workshop on Accounting & Auditing Standards

Accounting Standards: Need & Role of Accounting Standards Convergence of Indian Accounting standards with International Accounting Standards 

ASI 	: 	Disclosure of Accounting Policies, 
AS2 	: 	Valuation of Inventories, 
AS3 	: 	Cash Flow Statements 
AS6 	: 	Depreciation Accounting, 
AS9 	: 	Revenue Recognition , 
AS10	: 	Accounting For Fixed Assets 
AS13	: 	Accounting for Investments 
AS14 	: 	Accounting for Amalgamation 
AS17 	: 	Segment Reporting 
AS25 	: 	Interim Financial Reporting 

Auditing Standards: Need and Significance of Auditing and Assurance Standards 

AAS 01	= 	Basic Principles Governing an audit
AAS 02	= 	Objective and Scope of the Audit of Financial Statements 
AAS 04	= 	The Auditor's Responsibility to consider fraud and Error in an 
audit of financial statements  
AAS 06	=  	Risk  Assessment and Internal Control 
AAS 12 	= 	Responsibility  of Joint Auditors 
AAS13		= 	Audit materiality 
AAS16		=   	Going Concern
AAS21		=  	Consideration of laws and regulation in an audit of financial 
statements 
AAS 28	=  	The Auditor's Report on Financial Statements 
AAS 29	=   	Auditing in a computer Information Systems Environment. 

( 2017-2018 & 2018-19)
Syllabus of M.Com. (Honours School- FYIC)  Part-III (VI semester)

ELECTIVE PAPER
OPTION-II

Paper :   MFY 6.6(ii)  Workshop on International reporting standards 

							         Internal Assessment: 50 Marks
Lectures delivered : 60				          	  Credit                  : 3

Unit-I
		International Financial Reporting Standards:   History, Objectives, Scope; Structure, Process of IFRS standard setting.Convergence of Indian Accounting Standards with IFRS: Current Status and Challenges. 
IFRS 1 = First-time Adoption of International Financial Reporting Standards
IFRS 2= Share-based Payment
IFRS 3= Business Combinations
IFRS 4= Insurance Contracts
IFRS 5= Non-current Assets Held for Sale and Discontinued Operations
IFRS 6= Exploration for and Evaluation of Mineral Resources
IFRS 7= Financial Instruments: Disclosures
IFRS 8= Operating Segments

Unit-II
IFRS 9= Financial Instruments
IFRS 10= Consolidated Financial Statements
IFRS 11= Joint Arrangements
IFRS 12= Disclosure of Interest in Other Entities
IFRS 13= Fair Value Measurement
IFRS 14= Regulatory Deferral Accounts
IFRS 15= Revenue from Contracts with Customers
IFRS 16= Leases